ITO, Ward-4, Karnal V. Shyam Jee Lumbers P.Ltd, Karnal

ITA 2659/DEL/2019

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 2694 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 1 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-05-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2014-2015
• Appeal Filed On: 26-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SANJAY TRIPATHI
• Keywords: Tax effect; Tax effect

Judgement Text

1 ITA no. 2659/Del/2019 ITO vs. Shyam Jee Lumbrs P. Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘G’ NEW DELHI BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER ITA No.2659/Del/2019 Assessment Year: 2014-15 Income-tax Officer, Ward-4, Karnal Vs. Shyam Jee Lumbers P. Ltd., Imambara, Sadar Bazar, Karnal. PAN :AALCS1707J (Appellant) (Respondent) ORDER PER YOGESH KUMAR U.S., JUDICIAL MEMBER: The present appeal is preferred by the Revenue for the assessment year 2014-15 against order dated 28.01.2019, passed by the Commissioner of Income-Tax(Appeals), Karnal. Department by Shri Sanjay Tripathi, Sr. DR Assessee by Ms. Supriya Mehta, CA Date of hearing 05.05.2022 Date of pronouncement 10.05.2022 2 ITA no. 2659/Del/2019 ITO vs. Shyam Jee Lumbrs P. Ltd. 2. At the outset, learned counsel for the assessee submitted that the tax effect involved in the appeal of the Revenue is below Rs. 50 lakhs. In support of his contention the learned counsel has also filed ‘tax effect calculation’ as reproduced below: Particulars Amount (in Rs.) Returned income 1,40,00,000 Additions made in the assessment 1,40,00,000 Assessed income Disputed amount before Hon’ble Tribunal 1,40,00,000 Tax on above addition @ 32.44% 45,42,300 Tax effect 45,42,300 3. Learned counsel submitted that the tax effect involved in the grounds raised by the Revenue being less than Rs. 50,00,000/-, the appeal of the Revenue is not maintainable in view of the CBDT Circular No. 17/2019 dated 8 th August, 2019, revising the monetary limit for filing of the departmental appeals to the ITAT at Rs. 50 lakhs. 4. The learned Sr. DR could not dispute the aforesaid factual position that the tax effect involved in the instant appeal is less than Rs. 50 lakhs. 5. In view of the above factual position, the tax effect involved in the appeal being less than Rs. 50 lakhs, we deem it proper to dismiss the appeal of the Revenue in the light of the CBDT Circular No. 17/2019 dated 8 th August, 2019, as not maintainable. However, if on a later date, 3 ITA no. 2659/Del/2019 ITO vs. Shyam Jee Lumbrs P. Ltd. the Revenue finds that the tax effect in dispute in the aforesaid appeal is more than the limit prescribed or it is protected by any of the exceptions provided in the CBDT Circular, it shall be at liberty to approach the Tribunal for recall of the order and reinstitution of the appeal for adjudication on merits. The Tribunal shall consider such application, as per the extant law. 6. In the result, in view of the aforesaid discussion, the Revenue’s appeal stands dismissed. Order pronounced in the open court on 10 th May, 2022. Sd/- Sd/- ( ANIL CHATURVEDI ) (YOGESH KUMAR U.S.) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 10 th May, 2022. *MP/R.N* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi 4 ITA no. 2659/Del/2019 ITO vs. Shyam Jee Lumbrs P. Ltd.