ACIT, CHENNAI V. KGS Developers Limited, CHENNAI

ITA 2253/CHNY/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 9780 (ITAT-CHENNAI)
• Duration Of Justice: 3 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-04-2016
• Appeal Filed By: Department
• Bench Allotted: B
• Next Hearing Date: 01-03-2016
• Assessment Year: 2011-2012
• Appeal Filed On: 11-12-2015
• Court: TRIBUNAL
• Department Lawyers: A V SREEKANTH
• Assessee Lawyers: PRATAPKARAN PA UL
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : CHENNAI . . . , . !' , # $ % [ BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ] ./ I.T.A.NO.2253/MDS/2015 / ASSESSMENT YEAR : 2011-12 THE ASSTT. COMMISSIONER OF INCOME-TAX CORPORATE CIRCLE 4(2) CHENNAI VS. M/S KGS DEVELOPERS LTD KGS CORPORATE HOUSE NO.43, BESANT AVENUE ADYAR, CHENNAI 600 020 [PAN AAACS 9065 N ] ( &' / APPELLANT) ( ()&' /RESPONDENT) / APPELLANT BY : SHRI A.V SREEKANTH, JCIT /RESPONDENT BY : SHRI PRATAPKARAN PAU L, CA / DATE OF HEARING : 01 - 03 - 2016 ! / DATE OF PRONOUNCEMENT : 05 - 04 - 2016 / O R D E R PER N.R.S.GANESAN, JUDICIAL MEMBER THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS)-8, CHENNA I, DATED 8.9.2015 AND PERTAINS TO ASSESSMENT YEAR 2011-12. 2. ON HEARING THE LD. DEPARTMENTAL REPRESENTATIVE, SHR I A.V SREEKANTH, WE FIND THAT THE TAX EFFECT IN THIS APPE AL IS LESS THAN ` 10 LAKHS. THE CBDT IN CIRCULAR NO.21/2015 DATED 10.1 2.2015 INCREASED ITA NO.2253/15 :- 2 -: THE MONETARY LIMIT FOR FILING APPEAL BEFORE THIS TR IBUNAL FROM ` 4 LAKHS TO ` 10 LAKHS. THE CBDT FURTHER CLARIFIED THAT THE INS TRUCTION DATED 10.12.2015 WILL APPLY RETROSPECTIVELY TO ALL THE PE NDING APPEALS BEFORE THIS TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED ITS OF FICERS TO WITHDRAW THE APPEALS PENDING BEFORE THIS TRIBUNAL. IN VIEW OF THE ABOVE, THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT THE CIRC ULAR ISSUED BY THE CBDT ON 10.12.2015 IS BINDING ON THE DEPARTMENT. T HEREFORE, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. A CCORDINGLY, THE APPEAL OF THE REVENUE IS DISMISSED. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMIS SED. ORDER PRONOUNCED IN THE OPEN COURT ON 5 TH APRIL, 2016, AT CHENNAI. ( . !' ) (A. MOHAN ALANKAMONY) # / ACCOUNTANT MEMBER ( . . . ' ) (N.R.S. GANESAN) / JUDICIAL MEMBER #$ / CHENNAI %& / DATED: 5 TH APRIL, 2016 RD &' ()*) / COPY TO: 1 . / APPELLANT 4. + / CIT 2. / RESPONDENT 5. ),- . / DR 3. +/' / CIT(A) 6. -01 / GF