ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR V. UNIQUE REALITIES BUILDERS & DEVELOPERS, NAGPUR

ITA 22/NAG/2023

• Counselvise Citation: [2024] 128 COUNSELVISE.COM (IT) 9965 (ITAT-NAGPUR)
• Duration Of Justice: 1 year(s) 7 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-09-2024
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 19-08-2024
• Assessment Year: 2019-2020
• Appeal Filed On: 12-01-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KAILASH C. KANOJIYA
• Assessee Lawyers: ABHISHEK KUMAR
• Keywords: Tax effect; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.21/Nag./2023 (Assessment Year : 2018–19) ITA no.22/Nag./2023 (Assessment Year : 2019–20) Dy. Commissioner of Income Tax Central Circle–2(1), Nagpur ................ Appellant v/s Unique Realities Builders & Developers 4, Golden Palace Complex, WHC Road Dharampeth, Nagpur 440 010 PAN – AAPFM1863Q ................ Respondent Assessee by : Shri Abhishek Kumar Revenue by : Shri Kailash C. Kanojiya Date of Hearing – 20/08/2024 Date of Order – 02/09/2024 O R D E R PER V. DURGA RAO, J.M. These appeals have been filed by the Revenue challenging the impugned orders of even date 14/11/2022, passed by the learned Commissioner of Income Tax (Appeals)–3, Nagpur, [“learned CIT(A)”], for the assessment year 2017–18 and 2018–19. 2. At the outset, the leaned Counsel appearing for the assessee submitted that the tax effect on the amount disputed by the Revenue is below the revised monetary limit of ` 50 lakh applicable to appeals before the Tribunal, as per CBDT Circular no.17 of 2019, dt. 08/08/2019. Further, he submitted that none of the exceptions provided in CBDT Circular no.3 of 2018, dt. 11/07/2018 r/w circular F.no.279/Misc./142/2007–ITJ–(Pt) dt. 20/08/2018, Unique Realities Builders & Developers ITA no.21–22/Nag./2023 Page | 2 would apply to Revenue’s appeal. Thus, the learned Counsel for the assessee submitted that the Revenue’s appeals being covered under the aforesaid Circulars are not maintainable. 3. The learned Departmental Representative agreed that the tax effect on the amount disputed by the Revenue is below the monetary limit of ` 50 lakh for both the years under consideration. 4. Having heard the arguments of rival parties, perused the material available on record and gone through the orders of the authorities below, we are of the view that the tax effect on the amount disputed by the Revenue in the present appeals are below the revised monetary limit of ` 50 lakh as per CBDT Circular no.17/2019, dated 08/08/2019, r/w CBDT Circular no.3/2018, dated 11/07/2018. It also stands clarified by the CBDT that the revised monetary limit of ` 50 lakh as per the aforesaid CBDT Circulars would also apply to all pending appeals. In view of the aforesaid, Revenue’s appeals deserve to be dismissed. However, the Revenue is given liberty to seek recall of this consolidated order if, at a later point of time, it is found that the appeals fall under any of the exceptions provided in the Circulars referred to above. 5. In the result, appeals filed by the Revenue are dismissed. Order pronounced in the open Court on 02/09/2024 Sd/- K.M. ROY ACCOUNTANT MEMBER Sd/- V. DURGA RAO JUDICIAL MEMBER NAGPUR, DATED: 02/09/2024 Unique Realities Builders & Developers ITA no.21–22/Nag./2023 Page | 3 Copy of the order forwarded to: (1) The Assessee; (2) The Revenue; (3) The PCIT / CIT (Judicial); (4) The DR, ITAT, Nagpur; and (5) Guard file. True Copy By Order Pradeep J. Chowdhury Sr. Private Secretary Sr. Private Secretary ITAT, Nagpur