JCIT, Special Range-10, V. Progressine Commercial Enterprises Ltd.,

ITA 2295/DEL/2001

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 7386 (ITAT-DELHI)
• Duration Of Justice: 15 year(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-06-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Next Hearing Date: 20-06-2016
• Assessment Year: 1988-1989
• Appeal Filed On: 25-05-2001
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V R SONBHADRA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: F NEW DELHI BEFORE SMT DIVA SINGH, JUDICIAL MEMBER AND SH.O.P.KANT, ACCOUNTANT MEMBER I.T.A .NO.-229 4 & 2295/DEL/2001 (ASSESSMENT YEAR-1987- 1988 & 1988-89) JCIT, SPL. RANGE-10, R.NO.-211, C.R.BUILDING, NEW DELHI. (APPELLANT) VS M/S PROGRESSIVE COMMERCIAL ENTERPRISES LTD., C/O-M.L.PURI, & CO, CA NO.407, NEW DELHI HOUSE, 47, BARAKHAMBA ROAD, NEW DELHI (RESPONDENT) APPELLANT BY SH.V.R.SONBHADRA, SR.DR RESPONDENT BY SH. SHAILESH GUPTA, CA ORDER PER BENCH BOTH THESE APPEALS HAVE BEEN FILED BY THE REVENUE A SSAILING THE CORRECTNESS OF THE SEPARATE ORDERS DATED 22.02.2001 OF CIT(A)-X XVIII, NEW DELHI PERTAINING TO 1987-88 AND 1988-89 ASSESSMENT YEARS ON THE FOLLOWI NG GROUNDS: ITA NO.2294/DEL/2001 1. BASED ON FACTS AND CIRCUMSTANCES OF THE CASE, THE LD.CIT(A) HAS ERRED IN LAW AND ON FACTS IN DELETING THE PENALTY /S 271( 1)(C) OF RS.8,62,623/- BY THE A.O. ITA NO.2295/DEL/2001 1. BASED ON FACTS AND CIRCUMSTANCES OF THE CASE, THE LD.CIT(A) HAS ERRED IN LAW AND ON FACTS IN DELETING THE PENALTY / S 271(1)(C) OF RS.8,42,838/- BY THE A.O. 2. THE LD.AR INVITING ATTENTION TO THE CIRCULAR NO. 21/2015 DATED 10TH DECEMBER, 2015 OF CBDT SUBMITTED THAT THE SAID CIRC ULAR IS RETROSPECTIVE AND THUS IN TERMS OF PARA 10 OF THE SAME, THE DEPARTMEN TAL APPEALS DESERVE TO BE DATE OF HEARING 20.06.2016 DATE OF PRONOUNCEMENT 22.06.2016 I.T.A .NO.-229 4 & 2295/DEL/2001 PAGE 2 OF 2 DISMISSED. CONSIDERING THE CIRCULAR AND THE ISSUE RAISED, THE LD. SR. DR FAIRLY CONCEDED THAT THE DEPARTMENTAL APPEALS HAVE BEEN FI LED WHEREIN THE TAX EFFECT INVOLVED IS MUCH LESS THAN RS.10 LAKH. 3. WE HAVE HEARD THE SUBMISSIONS OF THE PARTIES ON THIS ISSUE AND PERUSED THE MATERIAL ON RECORD. WE FIND THAT THE CBDT VIDE THE AFORESAID CIRCULAR DATED 10.12.2015 HAS REVISED THE MONETARY LIMIT TO RS.10 LAKH FOR FILING THE APPEAL BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TRIBUNAL . PARA 3 OF THE AFORESAID CIRCULAR HAS BEEN MADE APPLICABLE VIDE PARA 10 RETR OSPECTIVELY. CONSIDERING THE SETTLED LEGAL PRECEDENT THAT THE BOARDS INSTRUCTIO NS OR DIRECTIONS ISSUED TO THE INCOME TAX AUTHORITIES U/S 268A OF THE INCOME TAX A CT, 1961 ARE BINDING ON THE AUTHORITIES, WE DISMISS THE DEPARTMENTAL APPEALS CO NSIDERING THE MATERIAL AVAILABLE ON RECORD. 4. IN THE RESULT, THE APPEALS OF THE REVENUE ARE DI SMISSED. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 22 JUNE, 2016. SD/- SD/- (O.P.KANT) (DIVA SINGH ) ACCOUNTANT MEMBER JUDICIAL MEMBER *AMIT KUMAR* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSI STANT REGISTRAR ITAT NEW DELHI