A.C.I.T.,Circle-2(1), Kolkata V. M/s ABCI Intrastracture Pvt. Ltd., Kolkata

ITA 285/KOL/2020

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 8028 (ITAT-KOLKATA)
• Duration Of Justice: 5 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-08-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2003-2004
• Appeal Filed On: 05-03-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DHRUBAJYOTI RAY
• Assessee Lawyers: MIRAJ D. SHAH
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH (A), KOLKATA [ BEF ORE JUSTICE P.P. BHATT, HONBLE PRESIDENT AND SHRI P.M. JAGTAP, VICE PRESIDENT (KZ)] [THROUGH VIRTUAL COURT] I.T.A. NO. 285/KOL/2020 ASSESSMENT YEAR: 2003-04 ACIT, CIR-2(1), KOLKATA....................................................................APPELLANT ROOM NO. 23, 7 TH FLOOR, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA 700 069. VS M/S. ABCI INFRASTRUCTURE PVT. LTD...........................RESPONDENT 2/7, SARAT BOSE ROAD, ROOM NO. 4, 6 TH FLOOR, KOLKATA 700 020. [PAN: AACCM 3317 R] APPEARANCES BY: SHRI DHRUBAJYOTI RAY, JCIT APPEARING ON BEHALF OF THE REVENUE. SHRI MIRAJ D. SHAH, AR APPEARING ON BEHALF OF THE ASSESSEE DATE OF CONCLUDING THE HEARING : AUGUST 06, 2020 DATE OF PRONOUNCING THE ORDER : AUGUST 12, 2020 ORDER PER BENCH: THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS) 10, KOLKATA DATED 30 TH DECEMBER, 2019 AND THE GROUNDS RAISED THEREIN BY THE REVENUE READ AS UNDER: 1. THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) HAS ERRED IN GRANTING RELIEF TO THE ASSESSEE ON ACCOUNT OF CLAIM OF DEDUCTION UNDER SECTION 80-IA OF THE ACT OF RS. 82,51,545/- DISALLOWED BY THE AO DURING ASSESSMET. 2. THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) HAS ERRED IN GRANTING RELIEF TO THE ASSESSEE ON ACCOUNT OF CLAIM OF DEDUCTION UNDER SECTION 80-IB OF THE ACT OF RS. 33,00,170/- DISALLOWED BY THE AO DURING ASSESSMENT. 2 I.T.A. NO. 285/KOL/2020 ASSESSMENT YEAR: 2003-04 M/S. ABCI INFRASTRUCTURE PVT. LTD. 2. THE LD. COUNSEL FOR THE ASSESSEE AT THE OUTSET HAS POINTED OUT THAT THE TAX EFFECT INVOLVED IN THIS APPEAL FILED BY THE REVENUE IS LESS THAN THE REVISED MONETARY LIMIT OF RS. 50,00,000/- FIXED BY THE C.B.D.T. FOR FILING THE APPEALS OF THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION WHICH IS CLEARLY EVIDENT FROM THE GROUNDS RAISED BY THE REVENUE IN THIS APPEAL IS NOT DISPUTED EVEN BY THE LD. D.R. IN THE CIRCULAR NO. 17/2019 DATED 8 TH AUGUST, 2019 ISSUED BY THE C.B.D.T., THE MONETARY LIMIT FOR FILING THE APPEAL BY REVENUE BEFORE THE TRIBUNAL IS REVISED TO RS. 50,00,000/-. AS FURTHER CLARIFIED IN THE SAID CIRCULAR, THE MONETARY LIMIT SO REVISED IS APPLICABLE EVEN TO THE PENDING APPEALS AND THE SAME ARE DIRECTED TO BE WITHDRAWN OR NOT PRESSED. WE ACCORDINGLY TREAT THIS APPEAL AS WITHDRAWN/NOT PRESSED ON ACCOUNT OF LOW TAX EFFECT IN VIEW OF THE C.B.D.T. CIRCULAR NO. 17/2019 DATED 8 TH AUGUST, 2019 AND DISMISS THE SAME. 3. IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 12 TH AUGUST, 2020. SD/- SD/- (P.P. BHATT) (P.M. JAGTAP) PRESIDENT VICE PRESIDENT DATED: 12/08/2020 BISWAJIT, SR. PS COPY OF ORDER FORWARDED TO: 1. ACIT, CIRCLE -2(1), KOLKATA, ROOM NO. 23, 7 TH FLOOR, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA 700 069. 2. M/S. ABCI INFRASTRUCTURE PVT. LTD. 2/7, SARAT BOSE ROAD, ROOM NO. 4, 6 TH FLOOR, KOLKATA 700 020. 3. THE CIT(A) 4. THE CIT 5. DR TRUE COPY, BY ORDER, ASSISTANT REGISTRAR ITAT, KOLKATA