Income-tax Officer, Ward - 1, Beed V. M/s. Siddheshwar Urban Co-op Credit Society Ltd, Beed

ITA 2533/PUN/2017

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 9762 (ITAT-PUNE)
• Duration Of Justice: 3 year(s) 4 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 28-01-2021
• Assessment Year: 2014-2015
• Appeal Filed On: 02-11-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ARISES OUT OF PASSED
• Keywords: Tax effect; Co-operative Credit Society

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A, PUNE VIRTUAL COURT BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER ITA NO. 2533/PUN/2017 / ASSESSMENT YEAR : 2014-15 ITO, WARD-1, BEED VS. M/S. SIDDHESHWAR URBAN CO-OP. CREDIT SOCIETY LTD., NEW MONDHA, MAJALGAON, TA. MAJALGAON, DIST. BEED PAN : AACAT2617B APPELLANT RESPONDENT / ORDER THIS APPEAL BY THE REVENUE ARISES OUT OF THE ORDER PASSE D BY THE CIT(A)-2, AURANGABAD ON 21-08-2017 IN RELATION TO THE ASSESSMENT YEAR 2014-15. 2. AT THE OUTSET, THE LD. AR SUBMITTED THAT THE TAX EFFECT IN THIS CASE IS LESS THAN RS.50.00 LAKH, TO WHICH THE LD. DR FAIRLY CONCEDED. 3. THE CBDT HAS ISSUED CIRCULAR NO.17/2019 DATED 08-0 8-2019 REVISING UPWARD THE MONETARY LIMITS FOR FILING OF APPEALS BY THE DEPARTMENT IN INCOME-TAX CASES BEFORE VARIOUS APPELLATE FO RUMS. THE EARLIER CIRCULAR NO.03/2018 DATED 11-07-2018 FIXED MO NETARY LIMIT FOR FILING OF APPEALS BY THE REVENUE BEFORE THE TRIBUNA L AT ASSESSEE BY SHRI SURENDRA D. MANDLECHA REVENUE BY SHRI S.P. WALIMBE DATE OF HEARING 18-03-2021 DATE OF PRONOUNCEMENT 18-03-2021 ITA NO.2533/PUN/2017 M/S. SIDDHESHWAR URBAN CO-OPERATIVE CREDIT SOCIETY LTD., 2 RS.20.00 LAKH. SUCH LIMIT HAS NOW BEEN ENHANCED IN THE C IRCULAR DATED 08-08-2019 TO RS.50.00 LAKH. SINCE TAX EFFECT IN THE IN STANT APPEAL IS LESS THAN THE REVISED MONETARY LIMIT OF RS.50.00 LAK H, WE ARE NOT INCLINED TO ENTERTAIN THIS APPEAL. 4. AT THIS JUNCTURE, IT IS PERTINENT TO NOTE THAT THE CBDT VIDE F.NO.279/MISC/M-13/2018-ITJ DATED 20-08-2019 HAS CLARIFIED THAT THE REVISED MONETARY LIMITS SO MENTIONED IN CIRCULAR NO.17/2 019 ARE APPLICABLE TO ALL PENDING APPEALS. IN VIEW OF THE FOREG OING DISCUSSION, WE DISMISS THE APPEAL FILED BY THE REVENUE. HO WEVER, IT IS MADE CLEAR THAT IF THE TAX EFFECT IN THIS PARTICULAR APPEAL IS MORE THAN THE PRESCRIBED MONETARY LIMIT OF RS.50.00 LAKH OR THE CASE IS COVERED BY AN EXCEPTION, IT WILL BE OPEN TO THE REVEN UE TO MOVE THE TRIBUNAL FOR TAKING NECESSARY ACTION. 5. IN THE RESULT, THE APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH MARCH, 2021. SD/- SD/- (S.S. VISWANETHRA RAVI) (R.S.SY AL) JUDICIAL MEMBER VIC E PRESIDENT PUNE; DATED : 18 TH MARCH, 2021 ITA NO.2533/PUN/2017 M/S. SIDDHESHWAR URBAN CO-OPERATIVE CREDIT SOCIETY LTD., 3 / COPY OF THE ORDER IS FORWARDED TO : 1. / THE APPELLANT; 2. / THE RESPONDENT; 3. THE CIT(A)-2, AURANGABAD 4. 5. THE PR. CIT-2, AURANGABAD , , A / DR A, ITAT, PUNE 6. / GUARD FILE / BY ORDER, // TRUE COPY // SENIOR PRIVATE SECRETARY , / ITAT, PUNE DATE 1. DRAFT DICTATED ON 18-03-2021 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 18-03-2021 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. JM 5. APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. DATE OF UPLOADING ORDER SR.PS 8. FILE SENT TO THE BENCH CLERK SR.PS 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK 10. DATE ON WHICH FILE GOES TO THE A.R. 11. DATE OF DISPATCH OF ORDER. *