ACIT, New Delhi V. M/s. Dutta & Dutta Films India Ltd., New Delhi

ITA 2318/DEL/2010

• Counselvise Citation: [2011] 119 COUNSELVISE.COM (IT) 7081 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 5 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-10-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 28-10-2011
• Assessment Year: 2004-2005
• Appeal Filed On: 17-05-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : B : NEW DELHI BEFORE SHRI I.P. BANSAL, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER ITA NO.2318/DEL/2010 ASSESSMENT YEAR : 2004-05 ACIT, CIRCLE 10(1), NEW DELHI. VS. M/S DUTTA & DUTTA FILMS INDIA LTD., DD-232, SAIDULAZAB WESTEND MARG, M.B. ROAD, MEHRAULI, NEW DELHI. PAN : AAACD0301J (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI MANU GIRI, ADVOCATE REVENUE BY : SHRI ROHIT GARG, SR. DR ORDER PER I.P. BANSAL, JUDICIAL MEMBER THIS IS AN APPEAL FILED BY THE REVENUE. IT IS DIRECT ED AGAINST THE ORDER OF THE CIT (A) DATED 4 TH MARCH, 2010 FOR ASSESSMENT YEAR 2004- 05. THE GROUNDS OF APPEAL READ AS UNDER:- 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN L AW THE ORDER OF THE CIT (A) IS WRONG, PERVERSE, ILLEGAL AND AGAINST THE PROVISIONS OF LAW WHICH IS LIABLE TO BE SE T ASIDE. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN L AW THE LD. CIT (A) HAS ERRED IN DELETING THE ADDITION OF RS.8,11,182/- OUT OF TOTAL ADDITION OF RS.24,24,918/- M ADE BY THE A.O. ON ACCOUNT OF CAPITAL GOODS DESTROYED IN FI RE. 3. THE APPELLANT CRAVES TO LEAVE, TO ADD, ALTER OR AMEN D ANY GROUND OF APPEAL RAISED ABOVE AT THE TIME OF HEARI NG. ITA NO.2318/DEL/2010 2 2. THE TAX EFFECT CALCULATION WAS SUBMITTED BY THE ASSE SSEE WHICH SHOWS THE TAX EFFECT AT ` 2,43,344/- EXCLUDING THE SU RCHARGE. THEREFORE, THE TAX EFFECT IN THE PRESENT CASE IS BELOW ` 3 LAC. THE JURISDICTION OF THE ASSESSEES CASE LIES UNDER THE DELHI HI GH COURT AND THE NEW CBDT CIRCULAR WILL APPLY. ACCORDING TO T HE RECENT INSTRUCTION NO.3/2011 OF 9 TH FEBRUARY, 2011 ISSUED BY THE CBDT, MONETARY LIMIT FO R FILING THE APPEAL IN INCOME-TAX MATTERS BEFORE THE T RIBUNAL HAS BEEN FIXED AT ` 3 LAC. THESE INSTRUCTIONS HAVE BEEN HELD T O BE APPLICABLE TO ALL PENDING APPEALS BY THE JURISDICTIONAL HIGH COURT IN THE DECISIONS IN THE CASES: (I) CIT VS. M/S P.S. JAIN & CO. IN ITA NO.179/1991, O RDER DATED 2 ND AUGUST, 2010. (II) CIT VS. DELHI RACE CLUB IN ITA NO.128/2008 , OR DER DATED 3 RD MARCH, 2011. 3. REFERRING TO THESE DECISIONS, WE DISMISS THE APPEAL FI LED BY THE REVENUE ON ACCOUNT OF LOW TAX EFFECT. 4. IN THE RESULT, THE APPEAL FILED BY THE DEPARTMENT IS DISMISSED. THE ORDER PRONOUNCED IN THE OPEN COURT ON 28.10.20 11. SD/- SD/- [SHAMIM YAHYA] [I.P. BANSAL] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED, 28.10.2011. DK ITA NO.2318/DEL/2010 3 COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT TRUE COPY BY ORDER, DEPUTY REGISTRAR, ITAT, DELHI BENCHES