ACIT, Bhubaneswar V. Tatwa Technologies Pvt. Ltd., Bhubaneswar

ITA 224/CTK/2015

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 3705 (ITAT-CUTTACK)
• Duration Of Justice: 2 year(s) 2 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-07-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 08-05-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D K PRADHAN
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE S/SHRI N.S SAINI, ACCOUNTANT MEMBER AND PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA NO.224 /CTK/2015 ASSESSMENT YEAR:2007 - 08 ACIT, CIRCLE 1(2), BHUBANESWAR VS. TATWA TECHNOLOGIES PVT LTD., PLOT NO.6, 2 ND FLOOR, UNIT - III, KHARVEL NAGAR, BHUBANESWAR. PAN/GIR NO. AACCT 4034 G (APPELLANT ) .. ( RESPONDENT ) ASSESSEE BY : NONE REVENUE BY : SHRI D.K.PRADHAN, DR DATE OF HEARING : 11/07/ 2017 DATE OF PRONOUNCEMENT : 11 /07/ 2017 O R D E R PER N.S.SAINI, AM THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF THE LD CIT(A) - 1, BHUBANESWAR, DATED 24.2.2015, FOR THE ASSESSMENT YEAR 2007 - 08. 2. WHEN THE CASE WAS CALLED FOR HEARING, NONE APPEARED ON BEHALF OF THE RESPONDENT - ASSESSEE DESPITE ISSUE OF NOTICE OF HEARING DATED 8.6.2017. HENCE, WE PROCEED TO DISPOSE OF THE APPEAL OF THE REVENUE AFTER HEARING LD D.R. AND ON THE BASIS OF MATERIALS AVAIL ABLE ON RECORD. 2 ITA NO.224 /CTK/2015 ASSESSMENT YEAR :2007 - 08 3. BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE IS ENGAGED IN THE BUSINESS OF SOFTWARE DEVELOPMENT. IT FILED THE RETURN OF INCOME ON 8.11.2007 DECLARING TOTAL INCOME OF RS.7,50,320/ - . THE CASE WAS SELECTED FOR SCRUTINY AND ASSESSMENT WAS COMPLETED U/S.143(3) OF THE ACT ON 31.12.2009 DETERMINING THE TOTAL INCOME AT RS.53,19,430/ - . 4. BEING AGGRIEVED BY THE ORDER OF THE ASSESSING OFFICER, THE ASSESSEE HAS PREFERRED APPEAL BEFORE THE CIT(A), WHO ALLOWED PARTIAL RELIEF OF RS.22,87,734/ - OUT OF TOTAL DISALLOWANCE OF RS.40 LAKHS ON ACCOUNT OF SHARE CAPITAL . 5. AGGRIEVED BY THE PARTIAL RELIEF OF RS.22,87,734/ - ON ACCOUNT OF DISALLOWANCE OF SHARE CAPITAL, THE REVENUE IS IN APPEAL BEFORE US. 6. AFTER HEARING LD D.R. AND PERUSING THE ORDER OF THE CIT(A), WE FIND THAT THE CIT(A) HAS ALLOWED RELIEF OF RS.22,87,734/ - OUT OF ADDITION OF RS.40 LAKHS ON ACCOUNT OF SHARE CAPITAL AND SUSTAINED THE DISALLOWANCE OF RS.21,14,870/ - , THE TAX EFFECT OF WHICH COMES TO RS.6,34,460/ - . BEFORE US, LD D.R. ADMITTED T HAT THAT THE TAX EFFECT IN THE APPEAL OF THE REVENUE IS RS.6,34,460/ - AND HENCE, IN VIEW OF THE CBDT CIRCULAR NO. NO.21/2015 DATED 10.12.2015 REVISING THE MONETARY LIMIT FOR FILING APPEAL TO THE TRIBUNAL TO RS.10 LAKHS, THE APPEAL FILED BY THE REVENUE IS N OT MAINTAINABLE AND LIABLE TO BE DISMISSED IN LIMINE . THEREFORE, WE DISMISS THE APPEAL OF THE REVENUE IN LIMINE. 3 ITA NO.224 /CTK/2015 ASSESSMENT YEAR :2007 - 08 7. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCE D IN THE OPEN COURT ON 11 /07 /2017 IN THE PRESENCE OF PARTIES. SD/ - SD/ - ( PAVAN KUMAR GADALE) ( N.S SAINI) JUDICIALMEMBER A CCOUNTANT MEMBER CUTTACK; DATED 11 /07 /2017 B.K.PARIDA, SPS COPY OF THE ORDER FORWARDED TO : BY ORDER, SR.PRIVATE SECRETARY ITAT, CUTTACK 1. THE APPELLANT: ACIT, CIRCLE 1(2), BHUBANESWAR 2. THE RESPONDENT ; TATWA TECHNOLOGIES PVT LTD., PLOT NO.6, 2 ND FLOOR, UNIT - III, KHARVEL NAGAR, BHUBANESWAR 3. THE CIT(A) - I, BHUBANESWAR 4. THE PR. CIT - 1, BHUBANESWAR 5. DR, ITAT, CUTTACK 6. GUARD FILE. //TRUE COPY//