Income Tax Officer-Ward-1(1), Jalpaiguri, Kolkata V. Sri Binoy Roy, Jalpaiguri

ITA 2662/KOL/2013

• Counselvise Citation: [2016] 121 COUNSELVISE.COM (IT) 3270 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 1 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-01-2016
• Appeal Filed By: Department
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 26-11-2013
• Court: TRIBUNAL
• Department Lawyers: SATYENDRA MOHAN DAS
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: K OLKATA [BEFORE SHRI MAHAVIR SINGH, JM & SHRI WASEEM AHMED , AM] I.T.A NO.2662/KOL/2013 ASSESSMENT YEAR: 2007-08 INCOME-TAX OFFICER, WD-1(1), JALPAIGURI. VS. BIN OY ROY (PAN: AHNPR2725H) ( APPELLANT ) ( RESPONDENT ) & C.O. NO.01/KOL/2014 IN I.T.A NO.2662/KOL/2013 ASSESSMENT YEAR: 2007-08 BINOY ROY VS. INCOME-TAX OFFICER, WD-1(1), J ALPAIGURI (CROSS OBJECTOR) (RESPONDENT) DATE OF HEARING: 21.01.2016 DATE OF PRONOUNCEMENT: 21.01.2016 FOR THE REVENUE: SHRI SATYENDRA MOHAN DAS, JCIT FOR THE ASSESSEE/CROSS OBJECTOR: MISS VARSHA JAL AN, ADVOCATE ORDER PER SHRI MAHAVIR SINGH, JM: THIS APPEAL BY REVENUE AND CROSS OBJECTION BY ASSES SEE IS ARISING OUT OF ORDER OF CIT(A), JALPAIGURI VIDE APPEAL NO. 17/CIT(A)/JAL/2009-10 DA TED 30.09.2013. ASSESSMENT WAS FRAMED BY ITO, WD-1(3), JALPAIGURI U/S. 143(3) OF THE INCO ME-TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR ASSESSMENT YEAR 2007-08 VIDE HIS ORD ER DATED 31.12.2009. 2. AT THE OUTSET, IT IS SEEN THAT THE QUANTUM INVO LVED IN THIS CASE IS RS.28,03,678/-/- AND TAX EFFECT ON THE DISPUTED ADDITION BEFORE US IS RS.9,9 5,296/-, WHICH IS LESS THAN RS. 10 LACS. 3. AFTER PERUSING THE MATERIALS AVAILABLE ON RECOR D, WE FIND THAT THE ADDITIONS DISPUTED BEFORE US IS BELOW THE TAX EFFECT LIMIT PRESCRIBED BY CBDT VIDE CIRCULAR NO. 21 / 2015 DATED 10.12.2015 FOR PREFERRING APPEALS BEFORE TRIBUNAL B Y THE REVENUE. ON PERUSAL OF THE CIRCULAR NO. 21 / 2015 DATED 10.12.2015 AND THE MATERIALS AVAILA BLE ON RECORD, LD. DR COULD NOT POINT OUT WHETHER THIS CASE FALLS UNDER ANY OF THE EXCEPTION AS PROVIDED IN THE CIRCULAR DESPITE SPECIFIC OPPORTUNITY WAS GIVEN, DOES NOT FALL UNDER ANY OF T HE EXCEPTIONS CONTEMPLATED IN THE SAID CIRCULAR, AS THIS IS COVERED. WE ALSO FIND THAT TH E CIRCULAR MAKES IT VERY CLEAR THAT THE REVISED MONETARY LIMITS SHALL APPLY RETROSPECTIVELY TO PEND ING APPEALS ALSO. WE FIND THAT THE CIRCULAR IS BINDING ON THE TAX AUTHORITIES. THIS POSITION HAS B EEN CONFIRMED BY THE HONBLE APEX COURT IN 2 ITA NO.2662/KOL/2013 & CO NO. 01/KOL/2014, BINOY ROY, AY 2007-08 2 THE CASE OF COMMISSIONER OF CUSTOMS VS INDIAN OIL C ORPORATION LTD REPORTED IN 267 ITR 272 (SC). HENCE, WE HOLD THAT THE APPEAL OF THE REVENUE DESE RVES TO BE DISMISSED IN TERMS OF LOW TAX EFFECT VIDE CIRCULAR NO.21 / 2015 DATED 10.12.2015. ACCORDINGLY, THIS BEING A LOW TAX EFFECT CASE, WE DISMISS THIS APPEAL OF REVENUE IN LIMINE, AS UNADMITTED, WITHOUT GOING INTO THE MERITS OF THE CASE. 4. CROSS OBJECTION FILED BY ASSESSEE WAS NOT PRESSE D AND HENCE, THE SAME IS DISMISSED AS NOT PRESSED. 5. IN THE RESULT, BOTH THE APPEAL OF THE REVENUE AN D CROSS OBJECTION OF ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (WASEEM AHMED) (MAHAVIR SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 21 ST JANUARY, 2016 JD. SR. P.S COPY OF THE ORDER FORWARDED TO: 1. APPELLANT ITO, WARD-1(1), JALPAIGURI. 2. RESPONDENT SHRI BINOY ROY, PROP. OF M/S. SWAPTARS HI TIMBER CONCERN, BAIRATIGURI, P.O. DHUPGURI, DIST. JALPAIGURI, PIN-735210. 3. CIT(A) , JALPAIGURI 4. CIT , JALPAIGURI 5. DR, KOLKATA BENCHES, KOLKATA / TRUE COPY, BY ORDER, ASSTT. REGISTRAR .