I.T.O. Ward -1(4), Nagpur V. SHRI AMBADAS BABURAO ZALKE, Nagpur

ITA 218/NAG/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 1330 (ITAT-NAGPUR)
• Duration Of Justice: 1 year(s) 1 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-08-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 23-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A R NINAWE
• Assessee Lawyers: R P C HANDEKAR
• Keywords: Tax effect

Judgement Text

1 ITA NO.218/NAG/2015. IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER. (S.M.C.) I.T.A. NO. 218/NAG/2015. ASSESSMENT YEAR : 2008 - 09. THE INCOME - TAX OFFICER, SHRI AMBADAS BA P URAO ZALKE, WARD - 1(4), NAGPUR. VS. NAGPUR. PAN ABBPC2944B. APPELLANT. RESPONDENT. APPELL ANT BY : SHRI A.R. NINAWE. RESPONDENT BY : SHRI R. P . CHANDEKAR. DATE OF HEARING : 18 - 08 - 2016 DATE OF PRONOUNCEMENT : 18 TH AUGUST , 2016 O R D E R THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(APPEALS) - I, NAGPUR DATED 31 - 03 - 2016 AND PERTAINS TO ASSESSMENT YEAR 2008 - 09. THE GROUNDS OF APPEAL READ AS UNDER: 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(APPEALS) ERRED IN TREATING THE CASH DEPOSITED OF RS.32,80,000/ - IN BANK ACCOUNT AS RECEIPTS FROM BUSINES S DISREGARDING THE FINDING IN THE ASSESSMENT ORDER. 2. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(APPEALS) ERRED IN NOT NOTING THE FACT THAT CASH OF RS.32,80,000/ - WAS DEPOSITED DURING THE YEAR IN ONLY 6 INSTANCES AND THUS COULD NOT BE SAI D TO BE RECEIPTS FROM REGULAR BUSINESS. 3. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(APPEALS) ERRED IN HOLDING AS ABOVE DISREGARDING THE FACT THAT THE ASSESSEE HAD NEVER CLAIMED SO DURING THE ASSESSMENT PROCEEDINGS. 2. AT THE THRESHOLD I NOTE THAT AS PER THE CBDT CIRCULAR NO. 21/2015 DATED 10 - 12 - 2015 THE MONETARY LIMIT FIXED FOR FILING APPEALS BY THE DEPARTMENT BEFORE 2 ITA NO.218/NAG/2015. THE INCOME - TAX APPELLATE TRIBUNAL IS HAVING TAX EFFECT OF MORE THAN RS.10,00,000/ - . IT HAS BEEN MENTIONED IN PARA 10 OF T HE ABOVE SAID CIRCULAR THAT THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS. FURTHER IT HAS BEEN PROVIDED THAT THE PENDING APPEALS BELOW THE SPECIFIED LIMIT MAY BE WITHDRAWN/NOT PRESSED. I FIND THAT IN THIS APPEAL THE TAX EFFECT IS BELOW RS. 10,00,000/ - . 3. THERE ARE CERTAIN EXCEPTIONS PROVIDED IN THE ABOVE SAID CIRCULAR. LEARNED D.R. DID NOT DISPUTE THAT THIS APPEAL IS BELOW THE ABOVE SAID LIMIT. FURTHER HE COULD NOT POINT OUT ANY FEATURE IN THE PRESENT APPEAL INVITING ANY OF THE EXCEPTIONS I N THE SAID CIRCULAR. 4. IN THE LIGHT OF THE ABOVE OBSERVATIONS, THIS APPEAL BY THE REVENUE STANDS DISMISSED IN LIMINE ON ACCOUNT OF TAX EFFECT. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 18 TH DAY OF AUGUST, 2016. SD/ - ( SHAMIM YAHYA) ACCOUNTANT MEMBER. NAGPUR, DATED: 18 TH AUGUST , 2016. 3 ITA NO.218/NAG/2015. COPY FORWARDED TO : 1. SHRI AMBADAS BA P URAO ZALKE, WARD NO.15, PRABHAG NO. 9, SHIVANGAON, POST AIRPORT, NAGPUR - 440 005. 2. I.T.O., WARD - 1(4), NAGPUR. 3. C.I.T. - I, NAGPUR. 4. CIT(APPEALS), - I, NAGPUR. 5. D.R., ITAT, NAGPUR. 6. GUARD FILE TRUE COPY BY ORDER ASSISTANT REGIS TRAR, INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR. WAKODE.