ITO, New Delhi V. R.C. Kapoor (HUF), New Delhi

ITA 2549/DEL/2015

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 3571 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-08-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2007-2008
• Appeal Filed On: 30-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K TIWARI
• Assessee Lawyers: ALOK PRAKASH GUPTA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES G : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA.NO.2549/DEL./2015 ASSESSMENT YEAR 2007-2008 THE INCOME TAX OFFICER, WARD-28(4), ROOM NO.1214, E-2 BLOCK, CIVIC CENTRE, J.N.L. MARG, INCOME TAX OFFICE, DELHI. VS R.C. KAPOOR (HUF), B-10, 2 ND FLOOR, KALINDI COLONY, NEW DELHI 110 065. PAN AAHHR3094N (APPELLANT) (RESPONDENT) CROSS OBJECTION NO.69/DEL./2018 ARISING OUT OF ITA.NO.2549/DEL./2015 - ASSESSMENT YEAR 2007-2008 R.C. KAPOOR (HUF), B-10, 2 ND FLOOR, KALINDI COLONY, NEW DELHI 110 065. PAN AAHHR3094N VS THE INCOME TAX OFFICER, WARD-28(4), ROOM NO.1214, E-2 BLOCK, CIVIC CENTRE, J.N.L. MARG, INCOME TAX OFFICE, DELHI. (CROSS OBJECTOR) (RESPONDENT) FOR REVENUE : SHRI K. TIWARI, SR. D.R. FOR ASSESSEE : SHRI ALOK PRAKASH GUPTA, CA DATE OF HEARING : 21.08.2018 DATE OF PRONOUNCEMENT : 21.08.2018 2 ITA.NO.2549/DEL./2015 & C.O.NO.69/DEL./2018 R.C. KAPOOR (HUF), NEW DELHI. ORDER PER BHAVNESH SAINI, J.M. THE DEPARTMENTAL APPEAL AS WELL AS CROSS OBJECTION OF THE ASSESSEE ARE DIRECTED AGAINST THE ORDER OF THE LD. CIT(A)-10, NEW DELHI, DATED 27.02.2015, FOR THE A.Y. 2007- 2008. 2. IN THE DEPARTMENTAL APPEAL, THE REVENUE CHALLENGED THE DELETION OF ADDITION OF RS.62,53,176/- ON ACCOUNT OF LONG TERM CAPITAL GAINS. 3. ADMITTEDLY, THE TAX EFFECT IN THE DEPARTMENTAL APPEAL IS LESS THAN RS.20 LAKHS. VIDE CIRCULAR NO. 3 OF 2018 DATED 11.07.2018 ISSUED BY CBDT UNDER SECTION 268A OF THE I.T. ACT, IT HAS BEEN DIRECTED THAT DEPARTMENT SHALL NOT FILE APPEAL BEFORE THE TRIBUNAL IN CASE WHERE THE TAX EFFECT DOES NOT EXCEED THE MONETARY LIMIT OF RS.20 LAKHS. IT IS ALSO DIRECTED THAT THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO THE PENDING APPEALS AND APPEALS TO BE FILED HENCEFORTH IN THE 3 ITA.NO.2549/DEL./2015 & C.O.NO.69/DEL./2018 R.C. KAPOOR (HUF), NEW DELHI. TRIBUNAL. PENDING APPEALS BELOW THE SPECIFIED TAX EFFECT MAY BE WITHDRAWN/NOT PRESSED. LEARNED SR. D.R. IN VIEW OF THE ABOVE BOARD CIRCULAR DID NOT PRESS THE DEPARTMENTAL APPEAL. WE MAY ALSO NOTE THAT THE APPEAL OF THE DEPARTMENT ABOVE WOULD NOT FALL WITHIN THE EXCEPTIONS PROVIDED IN THE BOARD CIRCULAR. IN THE RESULT, THE DEPARTMENTAL APPEAL IS NOT MAINTAINABLE AS HAVE BEEN FILED AGAINST THE INSTRUCTION OF THE BOARD. THE DEPARTMENTAL APPEAL IS DISMISSED AS WITHDRAWN/NOT PRESSED BY THE LEARNED SR. D.R. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. 5. LEARNED COUNSEL FOR THE ASSESSEE SEEKS PERMISSION TO WITHDRAW THE CROSS OBJECTION. THE SAME IS DISMISSED AS WITHDRAWN. 6. IN THE RESULT, CROSS OBJECTION OF THE ASSESSEE IS DISMISSED. 7. TO SUM-UP, APPEAL OF THE DEPARTMENT AND CROSS OBJECTION OF THE ASSESSEE ARE DISMISSED. 4 ITA.NO.2549/DEL./2015 & C.O.NO.69/DEL./2018 R.C. KAPOOR (HUF), NEW DELHI. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (L.P. SAHU) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER DELHI, DATED 21 ST AUGUST, 2018 VBP/- COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT G BENCH 6. GUARD FILE // BY ORDER // ASST. REGISTRAR : ITAT DELHI BENCHES : DELHI.