Deputy Commissioner of Income-tax, V. Shri Patil Digambar Dnyandeo, Pune

ITA 2284/PUN/2014

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 2488 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 2 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-03-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 16-03-2016
• Assessment Year: 2006-2007
• Appeal Filed On: 24-12-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHRI
• Assessee Lawyers: GOPAL R ASWANI
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, PUN E , , !'#'' $ , % & BEFORE SHRI R.K. PANDA, AM AND SHRI VIKAS AWASTHY, JM / ITA NO. 2284/PN/2014 %' ( ')( / ASSESSMENT YEAR : 2006-07 DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(1), PUNE ....... / APPELLANT ' / V/S. SHRI PATIL DIGAMBAR DNYANDEO, SECTOR NO. 25, KRISHNA NAGAR, NIGDI, PUNE 411044 PAN : ABNPP0069N / RESPONDENT ASSESSEE BY : SHRI GOPAL R. ASWANI REVENUE BY : SHRI PANKAJ GARG / DATE OF HEARING : 16-03-2016 / DATE OF PRONOUNCEMENT : 16-03-2016 * / ORDER PER VIKAS AWASTHY, JM : THE APPEAL HAS BEEN FILED BY THE REVENUE AGAINST THE OR DER OF COMMISSIONER OF INCOME TAX (APPEALS)-V, PUNE DATED 18-09- 2014 FOR THE ASSESSMENT YEAR 2006-07. 2. SHRI GOPAL R. ASWANI APPEARING ON BEHALF OF THE ASSESSEE SUBMITTED AT THE OUTSET THAT THE APPEAL OF THE REVENUE IS LIABLE TO BE DISMISSED ON ACCOUNT OF LOW TAX EFFECT IN TERMS OF RECENT CBDT CIRCULAR NO. 21/2015, DATED 10-12-2015. 2 ITA NO. 2284/PN/2014, A.Y. 2006-07 3. SHRI PANKAJ GARG REPRESENTING THE DEPARTMENT FAIRLY ADMITTED THAT IN THE PRESENT APPEAL BY THE DEPARTMENT TAX EFFECT IS LESS THAN ` 10 LAKHS. 4. BOTH SIDES HEARD. A PERUSAL OF THE IMPUGNED ORDER A ND DOCUMENTS ON RECORD SHOW THAT IN APPEAL, THE REVENUE HAS ASSAILE D THE FINDINGS OF COMMISSIONER OF INCOME TAX (APPEALS) IN RESTRICTING ADDITION ON ACCOUNT OF UNDISCLOSED INCOME FROM SALE OF DEVELO PMENT RIGHTS TO ` 33,08,015/-, WHEREAS, THE ASSESSING OFFICER HAD MADE ADDITION OF ` 46,58,344/-. THERE IS NO OTHER ADDITION/DISALLOWANCE MADE BY THE ASSESSING OFFICER. UNDISPUTEDLY, THE TAX EFFEC T IN THE PRESENT APPEAL IS LESS THAN ` 10 LAKHS. THE CBDT CIRCULAR NO. 21/2015, DATED 10-12-2015 HAS RAISED THE MONETARY LIMIT FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL TO ` 10 LAKHS. THE CIRCULAR APPLIES TO THE APPEALS FILED BY THE DEPARTMENT IN FUTURE, AS WELL AS TH E APPEALS PENDING BEFORE THE TRIBUNAL. THUS, IN VIEW OF THE CBDT CIRC ULAR THE PRESENT APPEAL OF THE REVENUE IS LIABLE TO BE DISMISSED ON ACCOUNT OF LOW TAX EFFECT. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HE ARING ON WEDNESDAY, THE 16 TH DAY OF MARCH, 2016. SD/- SD/- ( . . / R.K. PANDA) ( ! ' / VIKAS AWASTHY) #' / ACCOUNTANT MEMBER $ % #' / JUDICIAL MEMBER / PUNE; &# / DATED : 16 TH MARCH, 2016 RK 3 ITA NO. 2284/PN/2014, A.Y. 2006-07 *+,%-.#/#)- / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. ' () / THE CIT(A)-V, PUNE 4. ' / THE CIT-V, PUNE 5. !*+ %%,- , ,- , . ./0 , / DR, ITAT, B BENCH, PUNE. 6. + 1 23 / GUARD FILE. // ! % // TRUE COPY// #4 / BY ORDER, %5 ,0 / PRIVATE SECRETARY, ,- , / ITAT, PUNE