The ACIT, Circle-9, Surat V. M/s. Pankaj Diamonds, Surat

ITA 2514/AHD/2014

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 6160 (ITAT-SURAT)
• Duration Of Justice: 5 year(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-10-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 12-09-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

ACIT, CIRCLE-9, SURAT. VS. PANKAJ DIAMONDS /ITA NO.2514/AHD/2014 FOR A.Y. 2007-08 PAGE 1 OF 2 , , IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE SHRI AMARJIT SINGH, JUDICIAL MEMBER AND SHRI O.P.MEENA, ACCOUNTANT MEMBER . . ./ I.T.A NO.2514/AHD/2014: [ [ / ASSESSMENT YEAR: 2007-08 ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-9, SURAT. V . PANKAJ DIAMOND, 4 - 7, KRISHNA DIAMOND PARK, NEAR GEB, VARACHHA ROAD, KAPODARA, SURAT 395006. [PAN: AADFP 5145 L] / APPELLANT /RESPONDENT [ /ASSESSEE BY NONE. /REVENUE BY SHRI MAYANK PANDEY SR.DR / DATE OF HEARING: 03 . 10 .2019 /PRONOUNCEMENT ON: 03 . 10 .2019 /O R D E R PER O.P.MEENA, AM: 1. THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST AN ORDER OF LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-V, SURAT (IN SHORT THE CIT (A)) DATED 26.06.2014 FOR THE A.Y. 2007-08. 2. WE HAVE HEARD THE ABOVE APPEAL, AND FIND THAT THE TAX EFFECT INVOLVED, IS BELOW RS.50LAKHS. THE CBDT VIDE CIRCULAR NO.17/2019 DATED 8 TH AUGUST 2019 [F.NO.279/ MISC.142/ 2007-ITJ (PT)] BY AMENDING PARA 3 OF CBDT CIRCULAR NO.3/2018 DATED 11.07.2018 HAS ENHANCED THE MONETARY LIMIT FOR FILING OF APPEAL BEFORE TRIBUNAL AT RS.50 LAKHS AND HAS ALSO REMOVED ANOMALY IN PARA 5 OF SAID CIRCULAR NO. 3/2018.WE FIND THAT THE PRESENT CASE DO NOT FALL WITHIN THE EXCEPTIONS CLAUSE 10 OF SAID CIRCULAR NO.3/2018. FURTHER, THE ABOVE CIRCULAR IS ALSO APPLICABLE TO ALL PENDING APPEALS AS CLARIFIED BY THE ACIT, CIRCLE-9, SURAT. VS. PANKAJ DIAMONDS /ITA NO.2514/AHD/2014 FOR A.Y. 2007-08 PAGE 2 OF 2 CBDT VIDE LETTER DATED 20.08.2019 [F.NO.279/MISC./M-93/2018-ITJ] AND IN THE LIGHT OF JUDGEMENT OF HON`BLE SUPREME COURT IN THE CASE OF PR. CIT, JAIPUR V. MEENAKSHI MODI SLP (CIVIL) DIARY NO. 25076 OF 2019-DATED 16.08.2019 WHEREIN THE HON`BLE SUPREME COURT HAS DISMISSED THE APPEAL OF REVENUE, AS TAX INVOLVED WAS LESS THAN RS. 2 CRORES. THEREFORE, THE PRESENT APPEALS ARE NOT MAINTAINABLE AS PER ABOVE CIRCULAR NO. 17/2019, HENCE DISMISSED AS WITHDRAWN. HOWEVER, THE REVENUE IS AT LIBERTY TO APPROACH TO THIS TRIBUNAL FOR RECALLING THIS ORDER, IF IT COMES TO THE NOTICE OF THE AO THAT THE TAX EFFECT IS MORE THAN THE MONETARY LIMIT PRESCRIBED UNDER THE SAID CIRCULAR OR THE APPEAL(S) IS FALLS WITHIN THE AMBIT OF THE EXCEPTIONS PROVIDED UNDER THE SAID CIRCULAR. 3. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED AS WITHDRAWN. 4. THE ORDER PRONOUNCED IN THE OPEN COURT ON 03-10-2019. ` SD/- SD/- (AMARJIT SINGH) (O.P.MEENA) ( /JUDICIAL MEMBER) ( /ACCOUNTANT MEMBER) / SURAT, DATED : 4 TH OCTOBER , 2019/ S.GANGADHARA RAO, SR.PS COPY OF ORDER SENT TO- ASSESSEE/AO/PR. CIT/ CIT (A)/ ITAT (DR)/GUARD FILE OF ITAT. BY ORDER / / TRUE COPY / / ASSISTANT REGISTRAR, SURAT