ACIT, New Delhi V. M/s. Mayur Electrical Industries Pvt. Ltd., Noida

ITA 2718/DEL/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 6798 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 8 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 03-02-2016
• Assessment Year: 2005-2006
• Appeal Filed On: 04-06-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AMIT LAL
• Assessee Lawyers: RAM SAMUJH
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH E , NEW DELHI BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER ITA NO. 2718 / DEL/201 2 AY: 200 5 - 06 ACIT, CIRCLE 3(1) VS. MAYUR ELECTRICAL INDUSTRIES P.LTD. NEW DELHI A 44, SECTOR 56, NOIDA PAN: AAACM 1384 J (APPELLANT) (RESPONDENT) APPELLANT BY : MS.SUNITA SINGH, CIT, D.R. AND SH. AMIT LAL, SR.D.R. RESPONDENT BY : SH. RAM SAMUJH, ADV. ORDER PER J. SUDHAKAR REDDY, ACCOUNTANT MEMBER THIS IS AN APPEAL FILED BY THE REVENUE DIRECTED AGAINST THE ORDER OF THE LD.COMMISSIONER OF INCOME TAX (APPEALS) - XXXII , NEW DELHI DATED 22.03.2012 PERTAINING TO THE ASSESSMENT YEAR (A.Y.) 200 5 - 06 . 1.1. THE TAX EFFECT IN THIS APPEAL BY THE REVENUE DOES NOT EXCEED THE MONETARY LIMIT OF RS.10 LAKHS SPECIFIED IN RECENT CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER,2015, F. NO. 279/MISC./142/2007 - ITJ(PT.) READ WITH S.268 A OF THE INCOME TAX ACT 1961. FURTHER IN THIS CBDT CIRCULAR, AT PARA 10 IT IS SPECIFIED THAT THE INSTRUCTION WILL APPLY RETROSPECTIVELY, TO ALL PENDING APPEALS. 2. WE HAVE HEARD MS.SUNITA SINGH, LD.CIT, D.R . ON BEHALF OF REVENUE AND SHRI RAM SAMUJH, LD.COUNSEL FOR THE ASSESSEE. 2.1 . THE LD.SR.D.R. COULD NOT CONTROVERT THE FACT THAT THE TAX EFFECT ON THE QUANTUM OF INCOME IN DISPUTE IS BELOW THE MONETARY LIMIT OF RS.10,00,000/ - (TEN LAKHS ONLY). ITA NO. 2718 /DEL/2012 A.Y. 20 0 5 - 06 MAYUR ELECTRICAL INDUSTREIS P.LTD. NOIDA . 2 2. 2 . HENCE W E DISMISS THIS APPEAL FILED BY THE REVENUE ON THE GROUND THAT THE TAX EFFECT IN THE PRESENT APPEAL DOES NOT EXCEED THE MONETARY LIMIT SPECIFIED BY THE CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER,2015, F. NO. 279/MISC./142/2007 - ITJ(PT.) READ WITH S.268 A O F THE INCOME TAX ACT 1961, AND HENCE NOT MAINTAINABLE. 2. 3 . IN CASE THERE IS A MISTAKE IN THE CALCULATION OR IF THE CASE IS COVERED BY ANY OF THE EXCEPTION SPECIFIED IN THE CIRCULAR THE REVENUE MAY FILE A MISC. APPLICATION U/S 254(2) OF THE INCOME TAX ACT 1961 POINTING OUT THE MISTAKE AND IF THE BENCH IS CONVINCED OF THE MISTAKE, THIS ORDER WILL BE RECALLED AND THE APPEAL RESTORED FOR FRESH DISPOSAL ON MERITS. 3. IN THE RESULT REVENUE S APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 15 TH FEBRUARY, 2016 . SD/ - SD/ - ( SU CHITRA KAMBLE ) (J. SUDHAKAR REDDY) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: THE 15 TH FEBRUARY, 2016 MANGA COPY FORWARDED TO: - 1 . APPELLANT 2 . RESPONDENT 3 . CIT 4 . CIT(A) 5 . DR, ITAT - TRUE COPY - BY ORDER, ASSISTANT REGISTRAR