I.T.O.,Ward-9(3), Kolkata V. M/s PNG Developers Pvt. Ltd., Kolkata

ITA 257/KOL/2020

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 9768 (ITAT-KOLKATA)
• Duration Of Justice: 4 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-07-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 27-02-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUPRIYO PAL
• Assessee Lawyers: S M SURANA
• Keywords: Tax effect

Judgement Text

I.T.A. NO. 257/KOL/2020 ASSESSMENT YEAR: 2014-15 M/S. PNG DEVELOPERS PVT. LTD. 1 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA D BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, VICE-PRESIDENT AND SHRI A.T. VARKEY, JUDICIAL MEMBER [THROUGH VIRTUAL COURT] I.T.A. NO. 257/KOL/2020 ASSESSMENT YEAR: 2014-15 ITO WARD 9(3) KOLKATA,.......................................................................APPELLANT 5 TH FLOOR, ROOM NO. 21, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA 700 069. -VS.- M/S. PNG DEVELOPERS PVT. LTD.,...........................................................RESPONDENT 2, MULLICK STREET, KOLKATA 700 007. [PAN:AAFCP 7006 H] APPEARANCES BY: SHRI SUPRIYO PAL, JCIT, FOR THE APPELLA NT SHRI S.M. SURANA, ADVOCATE, FOR THE RESPONDE NT DATE OF CONCLUDING THE HEARING : JULY 02, 2020 DATE OF PRONOUNCING THE ORDER : JULY 02, 2020 O R D E R PER SHRI P,M. JAGTAP, VICE-PRESIDENT: THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-3, KOLKATA DATED 23 RD OCTOBER, 2019 PASSED FOR THE ASSESSMENT YEAR 2014-15. 2. AT THE TIME OF HEARING BEFORE THE TRIBUNAL, THE LD. COUNSEL FOR THE ASSESSEE HAS CONTENDED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LESS THAN THE MONETARY LIMIT OF RS.50,00,000/- FIXED BY THE C.B.D.T. FOR FILING THE APPEAL BY THE REVENUE BEFORE THE TRIBUNAL AND THIS I.T.A. NO. 257/KOL/2020 ASSESSMENT YEAR: 2014-15 M/S. PNG DEVELOPERS PVT. LTD. 2 POSITION IS NOT DISPUTED EVEN BY THE LD. D.R. IN THE CIRCULAR NO. 17/2019 DATED 8 TH AUGUST, 2019 ISSUED BY THE C.B.D.T., THE MONETARY LIMIT FOR FILING THE APPEAL BY REVENUE BEFORE THE TRIBUNAL IS REVISED TO RS.50,00,000/-. AS FURTHER CLARIFIED IN THE SAID CIRCULAR, THE MONETARY LIMIT SO REVISED IS APPLICABLE EVEN TO THE PENDING APPEALS AND THE SAME ARE DIRECTED TO BE WITHDRAWN OR NOT PRESSED. WE ACCORDINGLY TREAT THIS APPEAL AS WITHDRAWN/NOT PRESSED ON ACCOUNT OF LOW TAX EFFECT IN VIEW OF THE CBDT CIRCULAR NO.17/2019 DATED 8 TH AUGUST, 2019 AND DISMISS THE SAME. 3. IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 2 ND JULY, 2020. SD/- SD/- (A.T. VARKEY) (P.M. JAGTAP) JUDICIAL MEMBER VICE-PRESIDENT KOLKATA, THE 2 ND DAY OF JULY, 2020 COPIES TO : (1) ITO, WARD 9(3), KOLKATA 5 TH FLOOR, ROOM NO. 21, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA 700 069. (2) M/S. PNG DEVELOPERS PVT. LTD, 2, MULLICK STREET, KOLKATA 700 007. (3) COMMISSIONER OF INCOME TAX (APPEALS)-3, KOLKATA, (4) COMMISSIONER OF INCOME TAX , (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA BISWAJIT/SR. P.S.