ACIT, CHENNAI V. Shri R. Venugopal, CHENNAI

ITA 2426/CHNY/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 8060 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-11-2016
• Appeal Filed By: Department
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 22-08-2016
• Court: TRIBUNAL
• Department Lawyers: ASHLISH TRIPATHI
• Keywords: Tax effect

Judgement Text

, SMC , IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, CHENNAI . , BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ./ I.T.A.NO.2426 /MDS./2016 ( / ASSESSMENT YEAR :2007-08) THE ACIT, NON-CORPORATE CIRCLE-15(1), CHENNAI 600 034. VS. MR.R.VENUGOPAL , NO.3/562, DR.KRISHNAN STREET, KOTTIVAKKAM, CHENNAI -41. PAN AAFPV 6143 C ( / APPELLANT ) ( / RESPONDENT ) ! ' # / APPELLANT BY : MR.ASHLISH TRIPATHI, JCIT, D.R $% ! ' # / RESPONDENT BY : NONE & ' ' ( ) / DATE OF HEARING : 21 .11.2016 *+ ' ( ) /DATE OF PRONOUNCEMENT : 21.11.2016 / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: THIS APPEAL IS FILED BY THE REVENUE, AGGRIEVED BY T HE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX(A)-15, CHENNAI D ATED 26.05.2016 IN ITA NO.200/CIT(A)-15/2014-15 PASSED UNDER SEC.1 48 & SEC.147 OF THE ACT. 2. THE REVENUE HAS RAISED THREE GROUNDS IN ITS APP EAL, HOWEVER THE MAIN GRIEVANCE OF REVENUE IS THAT LD.CIT(A) ERRED I N DIRECTING THE AO TO ADOPT COST OF INDEXATION AS CLAIMED BY THE ASSESSEE . ITA NO.2426 /MDS/2016 2 3. ON HEARING THE LD. DEPARTMENTAL REPRESENTATIVE , WE FIND THAT THE TAX EFFECT IN THIS CASE IS LESS THAN `10 LAKHS. THE CBDT IN ITS CIRCULAR NO.21/2015 DATED 10.12.2015 INSTRUCTED ITS OFFICERS TO WITHDRAW ALL THE APPEALS PENDING BEFORE THE ITAT WHERE THE TAX EFFEC T IS LESS THAN `10 LAKHS. THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT THIS CIRCULAR OF CBDT IS BINDING ON THE OFFICERS OF THE DEPARTMENT. THER EFORE, THE REVENUE CANNOT PROCEED FURTHER IN THIS APPEAL. ACCORDINGLY , THE REVENUES APPEAL FOR ASSESSMENT YEAR 2007-08 STANDS DISMISSED. 4. IN THE RESULT, THE APPEAL OF REVENUE IS DISMISSE D. ORDER PRONOUNCED ON 21 ST NOVEMBER, 2016 AT CHENNAI. SD/- ( ) ( CHANDRA POOJARI ) /ACCOUNTANT MEMBER CHENNAI, DATED THE 21 ST NOVEMBER, 2016. K S SUNDARAM. , ' $(-. /.( / COPY TO: 1 . ! / APPELLANT 3. & 0( () / CIT(A) 5. .3 4 $(5 / DR 2. $% ! / RESPONDENT 4. & 0( / CIT 6. 4 6 7 ' / GF