ITO, CHENNAI V. G.V.Foundation P. Ltd., CHENNAI

ITA 2856/CHNY/2014

• Counselvise Citation: [2015] 120 COUNSELVISE.COM (IT) 9860 (ITAT-CHENNAI)
• Duration Of Justice: 7 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-06-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 13-05-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 20-11-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P RADHAKRISHNAN
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , A B ENCH, CHENNAI . , ! # , $ & BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER ./ I.T.A.NO . 2856 /MDS/2014 ( / ASSESSMENT YEAR: 2008-09) THE INCOME TAX OFFICER, CORPORATE WARD-2(1) ROOM NO.515, NEW BLOCK, CHENNAI-600 034. VS M/S. G.V.FOUNDATION P.LTD. 101, OLD NO.48, FIRST AVENUE ROAD, INDIRA NAGAR, ADYAR, CHENNAI-600 020. PAN:AABCG5826C ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : MR. P.RADHAKRISHNAN, JCIT /RESPONDENT BY : NONE /DATE OF HEARING : 13 TH MAY, 2015 /DATE OF PRONOUNCEMENT : 26 TH JUNE, 2015 / O R D E R PER CHALLA NAGENDRA PRASAD, JM: THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORD ER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-II, CHENN AI DATED 02.06.2014 FOR THE ASSESSMENT YEAR 2008 - 09. THE ONLY GROUND IN THE APPEAL OF THE REVENUE IS THAT WH ETHER RENTAL INCOME RECEIVED BY THE ASSESSEE ON HOUSE PRO PERTY IS ASSESSABLE UNDER THE HEAD BUSINESS OR UNDER THE HEAD INCOME FROM HOUSE PROPERTY. 2. DESPITE NOTICE, NONE APPEARED ON BEHALF OF THE ASSESSEE. THEREFORE, WE PROCEED TO DISPOSE OFF THE APPEAL 2 ITA NO.2856 /MDS/2014 AFTER PERUSING THE RECORDS AND HEARING THE DEPARTME NTAL REPRESENTATIVE. 3. WHEN IT IS POINTED OUT THAT THE TAX EFFECT IN THIS IS CASE IS LESS THAN ` 4,00,000/-, THE DEPARTMENTAL REPRESENTATIVE DID NOT OBJECT. ON GOING THROUGH THE ASSESSMENT ORDER, WE FIND THAT ADDITION WAS MADE TREATING THE INCOME FROM HOU SE PROPERTY AT ` 9,66,420/- ON WHICH THE TAX EFFECT IS LESS THAN ` 4,00,000/-. IN VIEW OF THE CBDT CIRCULAR NO.5 OF 2 014 DATED 10.07.2014, THE REVENUE IS PRECLUDED FROM FILING O F APPEALS, WHEN THE TAX EFFECT IS LESS THAN RUPEES FOUR LAKHS. AS HELD BY THE KOLKATA BENCH OF THIS TRIBUNAL IN THE CASE OF I TO VS. SRI SUJIT PANDEY IN ITA NO.1914/KOL/2012 DATED 10.09.20 14, CBDT INSTRUCTION NO.5 OF 2014 DATED 10.7.2014 IS AP PLICABLE TO PENDING APPEALS ALSO. THEREFORE, THIS APPEAL DES ERVES TO BE DISMISSED AS NOT MAINTAINABLE. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. ORDER PRONOUNCED IN THE OPEN COURT ON 26 TH JUNE, 2015. SD/- SD/- ( # ) ( & (# ) ( CHANDRA POOJARI ) ( CHALLA NAGENDRA PRASAD ) * / ACCOUNTANT MEMBER ( * / JUDICIAL MEMBER ( /CHENNAI, , /DATED 26 TH JUNE, 2015 SOMU 3 ITA NO.2856 /MDS/2014 ./ 0/ /COPY TO: 1. APPELLANT 2. RESPONDENT 3. 1 () /CIT(A) 4. 1 /CIT 5. / 5 /DR 6. /GF .