I.T.O. WARD -5(2), Nagpur V. SHRI VIJAYKUMAR NARSU SINGH, Nagpur

ITA 249/NAG/2016

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 2218 (ITAT-NAGPUR)
• Duration Of Justice: 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-05-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 15-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D RAVI KUMAR
• Keywords: Retrospective amendment; Reasonable cause; Tax effect

Judgement Text

IN TH E INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH: NAGPUR BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER. (SMC) IT A NO. 2 49 /NAG/201 6 A SSESSMENT Y EAR : 2011 - 12 INCOME TAX OFFICER WARD NO - 5 ( 2 ), GROUND FLOOR SARAF CHAMBER, SADAR , NAGPUR - 44000 1 VS SHRI VIJAYKU MAR NARSU SINGH F.N.202, SUR SHEEL APARTMENT LAXMINAGAR, NAGPUR 44 0012 (APPLIC ANT) (RESPONDENT) APPLICANT BY SHRI D. RAVIKUMAR , D.R. RESPONDENT BY NONE DATE OF HEARING : - 11 /0 5 /2016 DATE OF P RONOUNCEMENT: - 11 / 05 /2016 O R D E R PER SHRI SHAMIN YAHY A, A.M . THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(APPEALS) , NAGPUR DATED 27 - 0 1 - 201 6 . THE GROUNDS RAISED READ AS UNDER: - 1. WHETHER ON THE FACTS AND I N THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE CIT(A) , NAGPUR IS RIGHT IN DELE TING THE PENALTY U/S. 271D OF THE IT ACT BY ACCEPTING THE CONTENTIONS OF THE ASSESSEE THAT THERE WAS A REASONABLE CAUSE FOR FAILURE TO COMPLY WITH THE PROVISIONS OF SECTION 269SS. 2. WHETHER ON THE FACTS AND I N THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE CI T(A) , NAGPUR IS RIGHT IN HOLDING THAT NO PENALTY IS IMPOSSIBLE ON THE ASSESSEE WITHOUT APPRECIATING THE FACTS THAT THE ASSESSEE HAS ACCEPTED CASH LOAN OF RS.10,00,000/ - AND USED IT FOR INTERIORS OF NEW FLAT, WHICH DOES NOT COME UNDER THE DEFINITION OF URGE NT NEEDS. 2 IT A NO . 2 49 /NAG/201 6 A.M.SIR.(MBODKHE,P.S.) 2. AT THE THRESHOLD IT IS NOTED THAT THE TAX EFFECT IN THIS CASE IS BELOW THE LIMIT OF RS.10 LACS FIXED BY THE CBDT FOR FILING APPEAL BEFORE THE INCOME TAX APPELLATE TRIBUNAL VIDE CBDT CIRCULAR NO.21/2015 DATED 10 - 12 - 2015. IN THE SAID CIRCULAR I T HAS BEEN SPECIFIED THAT THE CIRCULAR WOULD HAVE RETROSPECTIVE EFFECT AND THE REVENUE WOULD NOT PRESS AND WOULD WITHDRAW SUCH APPEAL. THERE ARE CERTAIN EXCEPTIONS MENTIONED IN THE SAID CIRCULAR. LEARNED D.R. COULD NOT POINT OUT THAT ANY OF TH IS CASE ATTRA CTS THE EXCEPTIONS PROVI DED IN THE SAID CIRCULAR. IN THI S CIRCUMSTANCES, IN THE LIGHT OF THE ABOVE SAID CBDT CIRCULAR, THIS APPEAL IS DISMISSED ON ACCOUNT OF TAX EFFECT IN LIMINE . 3. IN THE RESULT, THIS APPEAL BY THE REVENUE STANDS DISMISSED IN LIMINE. ORDER PRONOU NCED IN THE OPEN COURT ON THIS 11 TH DAY OF MAY , 2016. SD/ - ( SHAMIM YAHYA) ACCOUNTANT MEMBER NAGPUR, DATED: - 11 / 05 / 2016. MANGESH BODKHE/P.S. COPY FORWARDED TO : 1. APPLICANT 2. RESPONDENT 3. C.I.T., CONCERNED 4. CIT (APPEALS) - I, NAGPUR. 5. D.R., ITAT, NAGPUR. 6. GUARD FILE TRUE COPY BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR