ACIT, New Delhi V. M/s. Gulshan Polyols Ltd., Delhi

ITA 230/DEL/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 4085 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 8 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-10-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2011-2012
• Appeal Filed On: 12-01-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: MOHD SHAHID
• Keywords: Tax effect

Judgement Text

IN THE INCOME - TAX APPELLATE TRIBUNAL, DELHI BENCH C , NEW DELHI BEFORE : SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA NO. 230/DEL./2015 ASSESSMENT YEAR: 2011 - 12 DCIT, CIRCLE 10(2), NEW DELHI. (APPELLANT) VS. GULSHAN POLYOLS LTD., G - 81, PREET VIHAR, DELHI PAN AABCG3954F (RESPONDENT) APPELLANT BY SH. ARUN KUMAR YADAV, SR. DR RESPONDENT BY MOHD. SHAHID, FCA ORDER PER L.P. SAHU, A.M. : THIS APPEAL BY THE REVENUE ARISES OUT OF THE ORDER PASSED BY THE CIT(A) - XV, NEW DELHI DATED 28.10.2014 IN RELATION TO THE CAPTIONED ASSESSMENT YEAR. 2. DURING THE COURSE OF HEARING, THE LD. DR, ALTHOUGH SUPPORTED THE ORDER OF THE ASSESSING OFFICER, BUT FAIRLY AGREED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS.10,00,000/ - AND BY VIRTUE OF CIRCULAR OF CBDT NO. 21 OF 2015 DATED 10.12.2015, T HE MONETARY LIMIT HAS BEEN REVISED TO RS.10,00,000/ - FOR NOT FILING APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL. THE LD. AR, ON THE OTHER HAND, SUBMITTED THAT THE PRESENT APPEAL IS NOT MAINTAINABLE BY VIRTUE OF ABOVE CIRCULAR OF CBDT. DATE OF HEARING 11.10.2017 DATE OF PRONOUNCEMENT 11.10.2017 ITA NO. 230/DEL./2015 2 3. AFTER GOING TH ROUGH THE MATERIAL ON RECORD, WE FIND THAT THE ABOVE CIRCULAR OF CBDT ON PECUNIARY LIMIT HAS NOW STATUTORY FORCE WITHIN THE PROVISIONS OF SECTION 268A OF THE IT ACT. THESE INSTRUCTIONS ARE OPERATIVE RETROSPECTIVELY TO THE PENDING APPEALS ALSO. IT GOES WI THOUT SAYING THAT THE BOARD S INSTRUCTIONS OR DIRECTIONS ISSUED TO THE INCOME - TAX AUTHORITIES ARE BINDING UPON THEM. GOING BY THE PRESCRIPTION OF THE AFORE - NOTED CIRCULAR, AND WITHOUT GOING INTO MERITS OF THE CASE, WE DISMISS THE INSTANT APPEAL FILED BY TH E REVENUE AS TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS.10.00 LACS. 4. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 1 1 .10.2017. SD/ - SD/ - ( H.S. SIDHU ) ( L.P. SAHU ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 11/10/2017 *AKS* COPY OF ORDER FORWARDED TO: (1) THE APPELLANT (2) THE RESPONDENT (3) COMMISSIONER (4) CIT(A) (5) DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES, NEW DELHI