DCIT, New Delhi V. M/s. GE Capital Services India Ltd., New Delhi

ITA 2696/DEL/2014

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 6751 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 5 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-10-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 27-10-2016
• Assessment Year: 2004-2005
• Appeal Filed On: 02-05-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AMRIT LAL
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : C NEW DELHI BEFORE SH. H.S. SIDHU , JUDICIAL M EMBER AND SH. O.P. KANT , ACCOUNTANT MEMBER ITA NO. 2696/ DEL/ 2014 ASSESSMENT YEAR: 2004 - 05 DCIT, CIRCLE - 12(1), NEW DELHI VS. M/S. GE CAPITAL SERVICES INDIA LTD., AIFACS BUILDING - 1, RAFI MARG, NEW DELHI PAN : AAACG0239L (APPELLANT) (RESPONDENT) APPELLANT BY SH. AM R IT LAL, SR.DR RESPONDENT BY SH. TUSHAR JARWAL, ADVOCATE DATE OF HEARING 27.10.2016 DATE OF PRONOUNCEMENT 27.10.2016 ORDER PER O.P. KANT , A. M. : THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LEARNED COMMISSIONER OF INCOME TAX(APPEALS) - XV, NEW DELHI, DATED 20.02.2014 PERTAINING TO ASSESSMENT YEAR 2004 - 05. 2. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE RELEVANT MATERIAL ON RECORD. IT IS NOTICED THAT THE CBDT HAS ISSUED CIRCULAR NO. 21 OF 2015 DATED 10.12.2015 WITH RETROSPECTIVE EFFECT, REVISING THE MONETARY LIMIT TO RS.10,00,000/ - FOR NOT FILING APPEALS BEFORE THE TRIBUNAL. LEARNED SR. DEPAR TMENTAL REPRESENTATIVE COULD NOT CONTROVERT THE FACT THAT TAX EFFECT INVOLVED IN THE APPEAL IS LESS THAN RS.10,00,000/ - . 2 ITA NO. 2696/DEL/2014 AY: 2004 - 05 3. FROM PARA 10 OF THE ABOVE CIRCULAR, IT IS PALPABLE THAT THE INSTRUCTION IS APPLICABLE TO THE PENDING APPEALS ALSO WITH RETROSPECTIV E EFFECT AND THERE IS A CLEAR - CUT DIRECTION TO THE DEPARTMENT TO WITHDRAW OR NOT PRESS SUCH APPEALS FILED BEFORE THE ITAT, WHEREIN TAX EFFECT IS LESS THAN RS.10,00,000/ - . GOING BY THE PRESCRIPTION OF THE AFORE - NOTED CIRCULAR, WE ARE OF THE VIEW THAT THE RE VENUE SHOULD HAVE EITHER NOT FILED THE INSTANT APPEAL BEFORE THE TRIBUNAL OR WITHDRAWN THE SAME AS THE TAX EFFECT IN THIS APPEAL IS ADMITTEDLY LESS THAN THE PRESCRIBED LIMIT I.E. RS. 10,00,000/ - FOR NOT FILING THE APPEAL. ACCORDINGLY , WE DISMISS THE INSTAN T APPEAL W ITHOUT GOING INTO MERITS OF THE CASE. HOWEVER, THE DEPARTMENT IS AT LIBERTY TO FILE THE MISCELLANEOUS APPLICATION, IF THE TAX EFFECT IS FOUND TO BE MORE THAN THE PRESCRIBED LIMITED OF RS. 10 LAKHS OR OTHERWISE. 4. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DISMISSED. THE DECISION IS PRONOUN CED IN THE OPEN COURT ON 27 TH OCTOBER , 2016 . S D / - S D / - ( H.S. SIDHU ) ( O.P. KANT ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 27 TH OCTOBER , 2016 . LAPTOP / - COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR ASST. REGISTRAR, ITAT, NEW DELHI