ACIT CIRCLE-1, GWALIOR V. PRAKASH CHAND AGARWAL, GWALIOR

ITA 27/AGR/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 1848 (ITAT-AGRA)
• Duration Of Justice: 1 year(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2016-2017
• Appeal Filed On: 26-02-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NAVIN GARGH
• Assessee Lawyers: SITA SRIVASTAVA
• Keywords: Tax effect

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL, AGRA BENCH, AGRA BEFORE : SHRI LALIET KUMAR, JUDICIAL MEMBER AND DR. MITHA LAL MEENA, ACCOUNTANT MEMBER ITA NO. 27/AGRA/2020 ASSESSMENT YEAR: 2016-17 ACIT, CIRCLE - 1, GWALIOR. (APPELLANT) VS. SH. PRAKASH CHAND AGARWAL, A.P. JEWELLERS, TOPI BAZAR, LASHKAR, GWALIOR PAN: ADYPA6466F (RESPONDENT) APPELLANT BY SH. NAVIN GARGH, ADVOCATE RESPONDENT BY SMT. SITA SRIVASTAVA, SR. DR ORDER PER LALIET KUMAR, J.M.: THIS APPEAL OF THE REVENUE CALLED INTO QUESTION T HE CORRECTNESS OF THE RELIEF GRANTED BY THE CIT(A) WHERE THE TAX EFFECT INVOLVED DOES NOT EXCEED RS. 50,00,000/-. 2. VIDE CIRCULAR NO. 17/2019 DATED 8 TH AUGUST 2019, THE CENTRAL BOARD OF DIRECT TAXES HAS ANNOUNCED ITS POLICY DECISION NOT TO FILE OR PRESS THE APPEALS BEFORE THIS TRIBUNAL AGAINST THE APPELLATE ORDERS FAVOURABLE TO THE ASSESSEE IN THE CASES IN WHICH OVERALL TAX EFFECT, INCLUDING SURCHARGE BUT E XCLUDING INTEREST, IS RS 50,00,000/- OR LESS. AS A STEP TOWARDS MANAGEMENT OF LITIGATION, THE CBDT HAS DECIDED TO ENHANCE THE MONETARY LIMITS FOR FILING T HE APPEALS IN INCOME TAX CASES VIDE PARA 3 AND PARA 5 OF THE AFORESAID CIRCULAR TO REMOVE THE AGONY OF UNCERTAINTY TO THE TAXPAYERS WHO HAVE BEEN SUCCESSFUL BEFORE TH E LOWER APPELLATE AUTHORITIES. DATE OF HEARING 09.03.2021 DATE OF PRONOUNCEMENT 09 .03.2021 ITA NO. 27/AGRA/2020 2 3. THE LD. COUNSEL FOR THE ASSESSEE CONTENDED THAT IN VIEW OF THE AFORESAID CBDT CIRCULAR DATED 8TH AUGUST 2019, THE APPEAL OF THE R EVENUE IS NOT MAINTAINABLE AND IS LIABLE TO BE DISMISSED AS WITHDRAWN. 4. THE LD. DR FOR THE RESPONDENT DID NOT OPPOSE THE ACTION PROPOSED BY THE TRIBUNAL, IN PRINCIPLE, BUT REQUESTED THAT LEGITIMA TE INTEREST OF REVENUE AUTHORITIES BE SUITABLY PROTECTED SO THAT THE APPEALS WHICH ARE FOUND NOT COVERED BY THE AFORESAID CIRCULAR ARE REINSTATED AND DECIDED ON ME RITS. HE SUBMITTED THAT LIBERTY MAY BE GIVEN TO POINT OUT, UPON NECESSARY FURTHER V ERIFICATIONS, AND TO SEEK RECALL THE DISMISSAL OF APPEAL AND RESTORATION OF THE APPE AL IF THE TAX EFFECT EXCEEDS RS 50,00,000. NONE OPPOSES THIS PRAYER. WE, THEREFORE, ACCEPT THE SAME. WE MAKE IT CLEAR THAT THE APPELLANT SHALL BE AT LIBERTY TO POI NT OUT THAT THE PRESENT APPEAL HAS BEEN SO DISMISSED SUMMARILY EITHER OWING TO WRONG C OMPUTATION OF TAX EFFECT OR OWING TO SUCH CASES BEING COVERED BY THE PERMISSIBL E EXCEPTIONS, OR FOR ANY OTHER REASON, AND WE WILL TAKE APPROPRIATE REMEDIAL STEPS IN THIS REGARD. 5. WITH THE ABOVE OBSERVATIONS, THE APPEAL OF THE R EVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 09/03/2021. SD/- SD/- (DR. MITHA LAL MEENA) (LALIET KUMAR) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 09 MARCH, 2021 *AKS*