ACIT, CHENNAI V. M/s. Coromandel Industries Pvt. Ltd., CHENNAI

ITA 2517/CHNY/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 7867 (ITAT-CHENNAI)
• Duration Of Justice: 3 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-12-2016
• Appeal Filed By: Department
• Bench Allotted: B
• Assessment Year: 2003-2004
• Appeal Filed On: 29-08-2016
• Court: TRIBUNAL
• Department Lawyers: A V SREEKANTH JCITD R
• Keywords: Tax effect

Judgement Text

, B/ SMC , IN THE INCOME TAX APPELLATE TRIBUNAL B/SMC BENCH, CHENNAI . , BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ./ I.T.A.NO.2517 /MDS./2016 ( / ASSESSMENT YEAR :2003-04) THE ACIT, CORPORATE CIRCLE-1(2), CHENNAI. VS. M/S.CORAMANDEL INDUSTRIES PVT LTD., 5,PYCROFTS GARDEN ROAD, CHENNAI-6. PAN AAACC 1273 C ( / APPELLANT ) ( / RESPONDENT ) ! ' # / APPELLANT BY : MR.A.V.SREEKANTH, JCIT,D.R $% ! ' # / RESPONDENT BY : NONE & ' ' ( ) / DATE OF HEARING : 07.12.2016 *+ ' ( ) /DATE OF PRONOUNCEMENT : 07.12.2016 / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS)-1, CHENNAI, DA TED 01.06.2016 PERTAINING TO ASSESSMENT YEAR 2003-04. 2. ON HEARING THE LD. DEPARTMENTAL REPRESENTATIVE, SHR I A.V SREEKANTH, WE FIND THAT THE TAX EFFECT IN THIS APPEA L IS LESS THAN ` 10 LAKHS. ITA NO. 2517/MDS/2016 2 THE CBDT IN CIRCULAR NO.21/2015 DATED 10.12.2015 INCR EASED THE MONETARY LIMIT FOR FILING APPEAL BEFORE THIS TRIBUNA L FROM ` 4 LAKHS TO ` 10 LAKHS. THE CBDT FURTHER CLARIFIED THAT THE INSTRUCTI ON DATED 10.12.2015 WILL APPLY RETROSPECTIVELY TO ALL THE PENDING APPEAL S BEFORE THIS TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED ITS OFFICERS TO WITHDRAW T HE APPEALS PENDING BEFORE THIS TRIBUNAL. IN VIEW OF THE ABOVE, THIS TRIB UNAL IS OF THE CONSIDERED OPINION THAT THE CIRCULAR ISSUED BY THE CBDT ON 10.12.2015 IS BINDING ON THE DEPARTMENT. THEREFORE, THE APPEAL FI LED BY THE REVENUE IS NOT MAINTAINABLE. ACCORDINGLY, THE APPEAL OF THE R EVENUE IS DISMISSED. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISS ED. ORDER PRONOUNCED IN OPEN COURT AFTER CONCLUSION HEA RING ON 07 TH DECEMBER, 2016, AT CHENNAI. SD/- ( ) ( CHANDRA POOJARI ) /ACCOUNTANT MEMBER CHENNAI, DATED THE 07 TH DECEMBER, 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