D.C.I.T., Circle-6(1), Kolkata, Kolkata V. Kamal Kumar Kothari, Kolkata

ITA 2281/KOL/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 9169 (ITAT-KOLKATA)
• Duration Of Justice: 3 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-03-2017
• Appeal Filed By: Department
• Bench Allotted: SMC
• Assessment Year: 2004-2005
• Appeal Filed On: 01-12-2016
• Court: TRIBUNAL
• Department Lawyers: MD GHAYAS UDDIN
• Assessee Lawyers: ASHISH BAJAJ ACA
• Keywords: Tax effect
• Section: 68

Judgement Text

I.T.A. NO. 2281/KOL./2016 ASSESSMENT YEAR: 2004-2005 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA C(SMC) BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER I.T.A. NO. 2281/KOL/ 2016 ASSESSMENT YEAR: 2004-2005 DEPUTY COMMISSIONER OF INCOME TAX,................. .................APPELLANT CIRCLE-6(1), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 -VS.- SHRI KAMAL KUMAR KOTHARI,.......................... ........................RESPONDENT 10, CANNING STREET, KOLKATA-700 001 [PAN: AKYPK 8782 D] APPEARANCES BY: MD. GHAYAS UDDIN, JCIT, SR. D.R., FOR THE DEPARTMENT SHRI ASHISH BAJAJ, ACA, FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : MARCH 28, 2017 DATE OF PRONOUNCING THE ORDER : MARCH 28, 2017 O R D E R THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-8, KOLKATA DAT ED 21.09.2016 AND THE SOLITARY ISSUED RAISED THEREIN RELATES TO THE D ELETION BY THE LD. CIT(APPEALS) OF THE ADDITION OF RS.25,35,000/- MADE BY THE ASSESSING OFFICER UNDER SECTION 68 OF THE INCOME TAX ACT, 196 1. 2. AT THE TIME OF HEARING FIXED TODAY, I.E. ON 28.0 3.2017, THE LD. COUNSEL FOR THE ASSESSEE, AT THE OUTSET, HAS POINTE D OUT THAT THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LESS THAN THE REVISED MONETARY LIMIT FIXED BY THE CBDT VIDE CIRCULAR NO. 21/2015 D ATED 10 TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE APPEAL BY THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION CLEARLY EVIDENT FROM THE GROUNDS RAISED BY THE REVENUE IN THIS APPEAL IS NOT DISPUTED EVEN BY THE LD. D.R. IN CIRCULAR NO. 21/2015 (SUPRA) ISSUED BY THE CBDT, THE MONETARY LI MIT FOR FILING THE I.T.A. NO. 2281/KOL./2016 ASSESSMENT YEAR: 2004-2005 PAGE 2 OF 2 APPEALS BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND AS CLARIFIED IN THE SAID CIRCULA R, THE SAID MONETARY LIMIT IS APPLICABLE RETROSPECTIVELY EVEN TO THE APP EALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED THAT SUCH PE NDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF RS.10,00,000/- MAY BE W ITHDRAWN/ NOT PRESSED. KEEPING IN VIEW THE INSTRUCTION GIVEN BY THE CBDT V IDE CIRCULAR NO. 21/2015 DATED 10.12.2015, WHICH IS SQUARELY APPLICA BLE IN THE PRESENT CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WITHDRAWN/NOT PRESSED AND DISMISSED ACCORDINGLY. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISS ED. ORDER PRONOUNCED IN THE OPEN COURT ON MARCH 28, 201 7. SD/- (P.M. JAGTAP) ACCOUNTANT MEMBER KOLKATA, THE 28 TH DAY OF MARCH, 2017 COPIES TO : (1) DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6(1), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 (2) SHRI KAMAL KUMAR KOTHARI, 10, CANNING STREET, KOLKATA-700 001 (3) COMMISSIONER OF INCOME TAX (APPEALS)-8, KOLKA TA; (4) COMMISSIONER OF INCOME TAX- , (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.