ACIT, Circle- 21(1), New Delhi V. Realistic Realtors Pvt. Ltd., New Delhi

ITA 2365/DEL/2018

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 1392 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-07-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2007-2008
• Appeal Filed On: 05-04-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: FARHAT KHAN
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES F : DELHI [THROUGH VIDEO CONFERENCING] BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER ITA.NO.2365/DEL./2018 ASSESSMENT YEAR 2007-2008 THE ACIT, CIRCLE 21(1), ROOM NO.391, 3 RD FLOOR, C.R. BUILDING, I.P. ESTATE, NEW DELHI. PIN 110 002 VS. M/S. REALISTIC REALTORS PVT. LTD., 411, 4 TH FLOOR, AMBA DEEP BUILDING, CONNAUGHT PLACE, NEW DELHI 110 001. PAN AABCR7585F (APPELLANT) (RESPONDENT) FOR REVENUE : SHRI FAR H AT KHAN, SR. D.R. FOR ASSESSEE : SHRI MAYANK PATAWARI, ADVOCATE DATE OF HEARING : 05 . 07 .20 21 DATE OF PRONOUNCEMENT : 05 . 07 .20 2 1 ORDER PER R.K. PANDA, A.M. THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 19.01.2018 OF THE LD. CIT(A)-36, NEW DELHI, RELATING TO A.Y. 2007-2008. 2 ITA.NO.2365/DEL./2018 M/S. REALISTIC REALTORS PVT. LTD., NEW DELHI. 2. THE LD. COUNSEL FOR THE ASSESSEE, AT THE OUTSET, SUBMITTED THAT THE TAX EFFECT INVOLVED IN THE GROUNDS RAISED BY THE REVENUE IS BELOW RS.50 LAKHS. THEREFORE, IN VIEW OF THE RECENT CBDT CIRCULAR NO.17/2019 DATED 8 TH AUGUST, 2019, RAISING THE MONETARY LIMIT FOR FILING OF THE APPEAL BY THE REVENUE BEFORE THE TRIBUNAL TO RS.50 LAKHS AND THE SUBSEQUENT CLARIFICATION OF THE CBDT, VIDE NOTIFICATION DATED 20 TH AUGUST, 2019 STATING THAT THE SAID CIRCULAR IS APPLICABLE EVEN TO PENDING APPEALS, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. 3. THE LD. DR, ON THE OTHER HAND, FAIRLY CONCEDED THAT THE TAX EFFECT INVOLVED IN THE GROUNDS RAISED BY THE REVENUE BEING BELOW RS.50 LAKHS, THE APPEAL FILED BY THE REVENUE SQUARELY FALLS WITHIN THE AMBIT OF THE RECENT CBDT CIRCULAR NO.17/2019 DATED 8 TH AUGUST, 2019 AND THE SUBSEQUENT CLARIFICATION DATED 20 TH AUGUST, 2019. 4. AFTER HEARING BOTH THE SIDES, WE FIND THE TAX EFFECT INVOLVED IN THE GROUNDS RAISED BY THE REVENUE IS ADMITTEDLY BELOW RS.50 LAKHS. THEREFORE, IN VIEW OF THE CBDT CIRCULAR NO.17/2019 DATED 8 TH AUGUST, 2019 RAISING THE MONETARY 3 ITA.NO.2365/DEL./2018 M/S. REALISTIC REALTORS PVT. LTD., NEW DELHI. LIMITS FOR FILING OF THE APPEALS BY THE REVENUE BEFORE THE TRIBUNAL TO RS.50 LAKHS AND THE SUBSEQUENT CLARIFICATION DATED 20 TH AUGUST, 2019 TO THE EFFECT THAT THE SAID CIRCULAR IS APPLICABLE EVEN TO PENDING APPEALS, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. ACCORDINGLY, THE SAME IS DISMISSED. HOWEVER, IF THE REVENUE AT ANY POINT OF TIME FINDS THAT THE TAX EFFECT INVOLVED IN THE GROUNDS OF THE REVENUE IS MORE THAN RS.50 LAKHS OR THAT THE SAME IS FALLING UNDER THE EXCEPTIONS PROVIDED IN THE SAID CIRCULAR, THE REVENUE MAY MOVE NECESSARY APPLICATION FOR RECALL OF THIS ORDER. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF VIRTUAL HEARING I.E., ON 05.07.2021 SD/- SD/- (SUCHITRA KAMBLE) (R.K. PANDA) JUDICIAL MEMBER ACCOUNTANT MEMBER DELHI, DATED 05 TH JULY, 2021 VBP/- 4 ITA.NO.2365/DEL./2018 M/S. REALISTIC REALTORS PVT. LTD., NEW DELHI. COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT F BENCH, DELHI 6. GUARD FILE. // BY ORDER // ASSISTANT REGISTRAR : ITAT DELHI BENCHES : DELHI.