ITO, CORPORATE WARD -2 (2), CHENNAI V. M/S. GOLECHA GLOBAL FINANCE LTD., WEST BENGAL

ITA 2778/CHNY/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 9204 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 5 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2011-2012
• Appeal Filed On: 27-09-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: G JOHNSON
• Keywords: Tax effect
• Section: 201

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , C B ENCH, CHENNAI . , ! . , ! ' BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER ./ I.T.A.NO.2778/CHNY/2019 ( / ASSESSMENT YEAR: 2011-12) THE INCOME TAX OFFICER, CORPORATE WARD-2(2), CHENNAI-600 034. VS M/S. GOLECHA GLOBAL FINANCE LTD. 522, 5 TH FLOOR, TOBACCO HOUSE, 1, OLD COURT HOUSE CORNER, DALHOUSIE, KOLKATTA-700 001. WEST BENGAL STATE PAN: AABCG 9488Q ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : MR. G.JOHNSON, ADDL. CIT /RESPONDENT BY : NONE /DATE OF HEARING : 11.03.2021 /DATE OF PRONOUNCEMENT : 11.03.2021 / O R D E R PER G.MANJUNATHA, AM: THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAI NST ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-6 , CHENNAI, DATED 24.06.2019 AND PERTAIN TO ASSESSMENT YEAR 201 1-12. 2. IT IS STATED BEFORE US THAT THE TAX EFFECT IN TH E ABOVE APPEAL IS LESS THAN RS. 50 LAKHS AND THEREFORE, THE CIRCULAR NO. 17 OF 2019 DATED 08.08.2019 ISSUED BY THE CENTRAL BOARD OF DI RECT TAXES (CBDT) IN EXERCISE OF ITS POWER VESTED UNDER SECTIO N 268A(1) OF THE INCOME TAX ACT, 1961 COMES INTO PLAY WHEREIN, THE M ONETARY LIMIT FOR FILING THE APPEAL BY THE REVENUE BEFORE THE ITA T AND VARIOUS HIGH COURTS AS WELL AS APEX COURT ARE REVISED WITH AN OBJECT OF THE REDUCING THE TAX LITIGATION. IN THE SAID CIRCULAR, IT IS STATED THAT IN 2 ITA NO.2778/CHNY/2019 CASES WHERE THE TAX EFFECT IN THE APPEAL TO BE FILE D BEFORE THE APPELLATE TRIBUNAL DOES NOT EXCEED RS. 50 LAKHS APP EALS SHOULD NOT BE FILED. THUS, TAKING NOTE OF CBDT CIRCULAR NO. 1 7 OF 2019 DATED 08.08.2019 AND CONSIDERING THE FACT THAT THE TAX EF FECT IN THE INSTANT APPEAL IS LESS THAN RS. 50 LAKHS, THE PRESENT APPEA L DESERVES TO BE DISMISSED AS NOT PRESSED / NOT MAINTAINABLE. HOWEVE R, WE MAKE IT CLEAR THAT THE ISSUES RAISED IN THE INSTANT APPEAL IS LEFT OPEN TO BE EXAMINED IN THE APPROPRIATE PROCEEDINGS, IF ARISES, IN FUTURE. AT THE SAME TIME, WE ALSO MAKE IT CLEAR THAT IF THE APPEAL FALL IN ANY OF THE EXCEPTIONS REFERRED TO IN THE ABOVE SAID CBDT CIRCU LAR, THE REVENUE IS AT LIBERTY TO MOVE AN APPLICATION FOR RE CALLING THE ORDER, IF SO ADVISED. ACCORDINGLY, IN THE LIGHT OF CBDT CIRC ULAR NO. 17 OF 2019 DATED 08.08.2019, THE APPEAL STANDS DISMISSED. 3. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 11 TH MARCH, 2021 SD/- SD/- ( . ) ( . ) (DUVVURU RL REDDY) (G.MANJUNATHA) # % / JUDICIAL MEMBER % / ACCOUNTANT MEMBER # /CHENNAI, ( /DATED 11 TH MARCH, 2021 DS *+ ,+ /COPY TO: 1. APPELLANT 2. RESPONDENT 3. - () /CIT(A) 4. - /CIT 5. + 1 /DR 6. /GF .