ACIT, Bulandshahr V. M/s. Zila Sahkari Bank Ltd., Bulandshahr

ITA 2746/DEL/2015

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 6979 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 2 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 07-05-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIJAY KR JIWANI
• Assessee Lawyers: P S KASHYAP
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: B NEW DELHI BEFORE SHRI R.K.PANDA, ACCOUNTANT MEMBER & SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA NO.-2746/DEL/2015 ( ASSESSMENT YEAR: 2010-11) ACIT CURCLE BULNDSHAHR VS ZILA SAHKARI BANK LTD. MOTI BAGH BULANDSHAHR PAN : AAAZ0005B ASSESSEE BY SH. P.S.KASHYAP, CA REVENUE BY SH. VIJAY KR. JIWANI, SR. DR ORDER PER SUDHANSHU SRIVASTAVA, J.M. THIS APPEAL HAS BEEN PREFERRED BY THE DEPARTMENT AG AINST ORDER DATED 23.02.2014 PASSED BY THE LD. CIT(A), GH AZIABAD FOR ASSESSMENT YEAR 2010-11 WHEREIN VIDE THE IMPUGNED O RDER THE LD. CIT(A) HAS DELETED THE DISALLOWANCE OF RS. 20,2 2,600/- BEING DIVIDEND INCOME WHICH WAS CLAIMED AS EXEMPT BY THE ASSESSEE IN ITS RETURN OF INCOME BUT THE SAME WAS DISALLOWED BY THE ASSESSING OFFICER. THE TAX IN DISPUTE IS RS. 7,06,1 30/-. ADMITTEDLY, THE TAX IS LESS THAN THE PRESCRIBED LI MIT FOR PREFERRING APPEALS BEFORE THE ITAT BY THE INCOME TA X DEPARTMENT IN VIEW OF CIRCULAR NO. 3/2018 DATED 11.07.2018 AND THE DATE OF HEARING 31.07.2018 DATE OF PRONOUNCEMENT 31.07.2018 2 ITA N O. 2746/DEL/2015 MATERIAL AVAILABLE ON RECORD, THE LD. SR. DR COULD NOT POINT OUT IF THIS CASE FELL UNDER ANY OF THE EXCEPTIONS AS PROVI DED IN THE AFORESAID CIRCULAR. WE ALSO FIND THAT THE AFORESAID CIRCULAR MAKES IT VERY CLEAR THAT THE REVISED MONETARY LIMIT S SHALL APPLY RETROSPECTIVELY TO PENDING APPEALS ALSO. HENCE, WE HOLD THAT THE APPEAL OF THE REVENUE DESERVES TO BE DISMISSED IN T ERMS OF LOW TAX EFFECT VIDE CIRCULAR NO. 3/2018 DATED 11.07.201 8. ACCORDINGLY, THIS BEING A LOW TAX EFFECT CASE, WE D ISMISS THIS APPEAL OF REVENUE IN LIMINE , AS UN-ADMITTED, WITHOUT GOING INTO THE MERITS OF THE CASE. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 31.07.2018 SD/- SD/- (R.K.PANDA) (SUDHANSHU SRI VASTAVA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 31.07.2018 *BR* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT TRUE COPY ASSISTANT REGISTRAR 3 ITA N O. 2746/DEL/2015 ITAT NEW DELHI