The ACIT, Circle-2, Surat V. M/s. Banner International, Surat

ITA 2682/AHD/2014

• Counselvise Citation: [2018] 118 COUNSELVISE.COM (IT) 2142 (ITAT-SURAT)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2001-2002
• Appeal Filed On: 07-10-2014
• Court: TRIBUNAL

Judgement Text

ACIT C-2 SURAT V. BANNER INTERNATIONAL /I.T.A.NO. 2682/A/11/A.Y.01-02 PAGE 1 OF 2 , , IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT . . , . . , BEFORE SHRI C.M.GARG, JUDICIAL MEMBER AND SHRI O.P.MEENA, ACCOUNTANT MEMBER . . ./ I.T.A NO.2682/AHD/2014 / ASSESSMENT YEAR : 2001-02 ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -2 SURAT V S . M/S. BANNER INTERNATIONAL 6007, WORLD TRADE CENTER RING ROAD SURAT 395002 PAN:AACFB5280D APPELLANT /RESPONDENT /ASSESSEE BY NONE /REVENUE BY SHRI DILIP KUMAR, SR. D.R. / DATE OF HEARING: 06.07.2018 /PRONOUNCEMENT ON 11.07.2018 /O R D E R PER O. P. MEENA, ACCOUTANT MEMBER: 1. THIS APPEAL FILED BY THE ASSESSING OFFICER IS DIRECTED AGAINST THE ORDER OF LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-III, SURAT DATED 22.07.2014 PERTAINING TO ASSESSMENT YEAR 2001-02. 2. WE HAVE HEARD AND PERUSED THE MATERIAL AVAILABLE ON RECORD. WE FIND THAT THE CBDT VIDE CIRCULAR NO.21/2015 DATED 10.12.2015 [F. NO. 279/MISC.142/2007-ITJ (PT)] HAS REVISED THE MONETARY LIMIT FOR FILING OF APPEAL BEFORE TRIBUNAL FIXING THE TAX EFFECT LIMIT AT RS.10 LACS. THE SAID CIRCULAR SUPERSEDES THE EARLIER INSTRUCTIONS/CIRCULAR ISSUED ON THE SUBJECT OF TAX EFFECT AND APPLIES TO ALL PENDING APPEAL RETROSPECTIVELY. THE RELEVANT PARA ACIT C-2 SURAT V. BANNER INTERNATIONAL /I.T.A.NO. 2682/A/11/A.Y.01-02 PAGE 2 OF 2 10 OF CIRCULAR IS AS FOLLOWS FOR READY REFERENCE: - 10.THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO BE FILED HENCEFORTH IN HIGH COURTS/ TRIBUNALS. PENDING APPEALS BELOW THE SPECIFIED TAX LIMITS IN PARA-3 ABOVE MAY BE WITHDRAWN/NOT PRESSED. APPEALS BEFORE THE SUPREME COURT WILL BE GOVERNED BY THE INSTRUCTIONS ON THIS SUBJECT, OPERATIVE AT THE TIME WHEN SUCH APPEAL WAS FILED. THE BOARD HAS PROVIDED EXEMPTIONS AT CLAUSE (8) OF THE INSTRUCTIONS WHEREIN IT HAS BEEN PROVIDED THAT THESE INSTRUCTIONS WILL NOT BE APPLICABLE, IF VIRES OF ANY PROVISIONS HAS BEEN QUASHED BY IMPUGNED ORDER OR ADDITION WAS MADE ON SOME AUDIT OBJECTIONS OR THE ADDITION RELATES TO UNDISCLOSED FOREIGN ASSETS/BANK ACCOUNTS, ETC. WE FIND THAT THE PRESENT CASE DOES NOT FALL WITHIN THE EXEMPTION CLAUSE AND THE TAX DEMAND IS LESS THAN RS.10 LACS. THEREFORE, THE PRESENT APPEAL IS NOT MAINTAINABLE AND HENCE DISMISSED. 2. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DISMISSED. 3. THE ORDER PRONOUNCED IN THE OPEN COURT ON 11.07.2018 SD/- SD/- ( . . ) /(C.M. GARG) ( . . ) /(O.P.MEENA) /JUDICIAL MEMBER /ACCOUNTANT MEMBER / SURAT: / DATED : 11 TH JULY, 2018.OPM COPY OF ORDER FORWARDED TO- ASSESSEE/AO/PR. CIT/ CIT (A)/ITAT (DR) / GUARD FILE OF TRIBUNAL. BY ORDER / / TRUE COPY / / ASSISTANT REGISTRAR, SURAT