Deputy Commissioner of Income Tax, Circle-2(1), Davanagere V. Shri. Laxmandas Moolchand, Chitradurga

ITA 2711/BANG/2017

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 3414 (ITAT-BANGALORE)
• Duration Of Justice: 1 year(s) 2 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-02-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 21-02-2019
• Assessment Year: 2011-2012
• Appeal Filed On: 13-12-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Gift; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : BANGALORE BEFORE SHRI N. V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN , ACCOUNTANT MEMBER ITA NO. 2711 /BANG/201 7 ASSESSMENT YEAR : 201 1 - 1 2 THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1), DAVANGERE. VS. SHRI LAXMANDAS MOOLCHAND, M/S. LEHARASI INSURANCE CONSULTANCY, BESIDE LIC OFFICE, MAIN ROAD, HIRYUR, CHITRADURGA DIST. PAN : A CKPM 4403 B APPELLANT RESPONDENT REVENUE BY : SHRI. R. N. SIDDAPPAJI, ADDL. CIT ASSESSEE BY : NONE DATE OF HEARING : 21.02.2019 DATE OF PRONOUNCEMENT : 21.02.2019 O R D E R PER B. R. BASKARAN, ACCOUNTANT MEMBER THE REVENUE HAS FILED THIS APPEAL CHALLENGING THE ORDER DATED 31.07.2017 PASSED BY LEARNED CIT(A), DAVANGERE AND IT RELATES TO ASSESSMENT YEAR 2011-12. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE. HOWEVER, THE LEARNED DR SUBMITTED THAT THE TAX EFFECT INVOLVED IN THE ISSUES CONTESTED IN THE PRESENT APPEAL IS LESS THAN 20 LAKHS. 3. WE HEARD THE LEARNED DR AND PERUSED THE RECORD. THE REVENUE IS CONTESTING THE RELIEF GRANTED BY LEARNED CIT(A) IN RESPECT OF ADDITIONS RELATING TO ITA NO.2711/BANG/2017 PAGE 2 OF 2 CASH DEPOSITS, UNSECURED LOANS AND GIFTS RECEIVED. THE AO HAD MADE AN ADDITION OF 66.19 LAKHS IN AGGREGATE AND THE LEARNED CIT(A) HAS GRANTED RELIEF TO THE TUNE OF 59.51 LAKHS. THE LD D.R SUBMITTED THAT THE TAX EFFECT INVOLVED ON THE RELIEF GRANTED IS LESS THAN 20 LAKHS. HENCE, AS PER CIRCULAR NO. 3/2018 DATED 11 TH JULY, 2018, THE REVENUE IS PRECLUDED FROM PURSUING THIS APPEAL. ACCORDINGLY, WE DISMISS THIS APPEAL OF THE REVENUE IN LIMINE. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS DAY OF 21 ST FEBRUARY, 2019. SD/- SD/- BANGALORE. DATED: 21 ST FEBRUARY, 2019. /NS/* COPY TO: 1. APPELLANTS 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE. ( N. V. VASUDEVAN ) ( B. R. BASKARAN ) VICE PRESIDENT ACCOUNTANT MEMBER