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

ITA 2939/CHNY/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 86321 (ITAT-CHENNAI)
• Duration Of Justice: 3 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-03-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2009-2010
• Appeal Filed On: 04-12-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A V SREEKANTH IRS
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI , . . , ! '# BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER & SHRI S.S. GODARA, JUDICIAL MEMBER ./ I.T.A. NO.2939/MDS/2014 ( / ASSESSMENT YEAR : 2009-2010) INCOME TAX OFFICER, CORPORATE WARD -2 (2), CHENNAI 600 034. ( $% /APPELLANT) VS M/S. G.V. FOUNDATIONS P. LTD NEW NO.101, FIRST AVENUE, INDIRA NAGAR, ADYAR, CHENNAI 600 020. [PAN:AABCG5826C] ( &'$% /RESPONDENT) / APPELLANT BY : SHRI. A.V. SREEKANTH, IRS, JCIT. / RESPONDENT BY : NONE /DATE OF HEARING : 09.03.2015 /DATE OF PRONOUNCEMENT : 09.03.2015 ( / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST TH E ORDER DATED 11-07-2014 PASSED BY THE CIT(A)-II, CHENNAI FOR TH E ASSESSMENT YEAR 2009-2010. I.T.A.NO.2939/MDS/2014 :- 2 -: 2. THE CRUX OF THE GROUND OF THE REVENUE IS RENTAL I NCOME DERIVED BY THE ASSESSEE IS TO BE ASSESSED AS INCOME FROM HOUSE PROPERTY. NONE APPEARED FOR THE ASSESSEE. WE TAKE UP THE CAS E TO DECIDE ON MERITS AFTER HEARING THE LD. DEPARTMENTAL REPRESENT ATIVE. WE HAVE GONE THROUGH THE CASE RECORDS. AS SEEN FROM THE OR DER OF CIT(A), THE TAX EFFECT FROM THIS APPEAL IS E2,69,648/- WHICH IS LESS THAN MONETARY LIMITS FIXED BY THE CBDT TO FILE APPEAL BY THE REVE NUE AS PER CBDT CIRCULAR NO.5/2014, DATED 10 TH JULY, 2014 WHEREIN THE MONETARY LIMIT FIXED AT E4,00,000/- TO FILE APPEAL BEFORE THE TRI BUNAL. BEING SO, THE REVENUE AUTHORITIES ARE PRECLUDED FROM FILING OF AP PEAL IN THIS CASE. ACCORDINGLY, THIS APPEAL IS DISMISSED AS NON-ADMITT ED. 3. IN THE RESULT, THE REVENUES APPEAL NO.ITA 2939/MDS /2014 IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING ON MONDAY, THE 9 TH OF MARCH, 2015 AT CHENNAI. SD/- SD/- ( . . ) (S.S. GODARA) ! / JUDICIAL MEMBER ( ) (CHANDRA POOJARI) / ACCOUNTANT MEMBER !' /CHENNAI. #$ /DATED:09.03.2015. KV $% &' (' /COPY TO: 1. ) APPELLANT 2. / RESPONDENT 3. * ( )/CIT(A) 4. * /CIT 5. '+, - /DR 6. ,. / /GF. I.T.A.NO.2939/MDS/2014 :- 3 -: