ITO, New Delhi V. M/s Economy Sales, New Delhi

ITA 2994/DEL/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 8004 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 11 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-05-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 05-05-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 14-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: B NEW DELHI BEFORE SMT DIVA SINGH, JUDICIAL MEMBER AND SHRI L. P. SAHU, ACCOUNTANT MEMBER I.T.A .NO.-2994/DEL/2013 (ASSESSMENT YEAR-2009-10) ITO WARD 31(1). NEW DELHI (APPELLANT) VS ECONOMY SALES GARHWAL BHAWAN. PUNCHUKUIAN ROAD, NEW DELHI AAAFE3833B (RESPONDENT) CO .NO.-217/DEL/2014 (A.Y 2009-10) CO .NO.-215/DEL/2014 (A.Y 2007-08) CO .NO.-216/DEL/2014 (A.Y 2008-09) ECONOMY SALES GARHWAL BHAWAN. PUNCHUKUIAN ROAD, NEW DELHI AAAFE3833B (APPELLANT) VS ITO WARD 31(1). NEW DELHI (RESPONDENT) ORDER PER DIVA SINGH, JM THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE AS SAILING THE CORRECTNESS OF THE ORDER DATED 25/02/2013 PASSED BY CIT (A)- XXVI, NEW DELHI, PERTAINING TO ASSESSMENT YEAR 2009-10, WHEREIN C.O 217/DEL/2014 H AS BEEN FILED BY THE ASSESSEE. APART FROM THAT C.O 215 TO 216/DEL/2014 PERTAINING TO 2007-08 AND 2008-09 ASSESSMENT YEARS HAVE ALSO BEEN FIELD BY T HE ASSESSEE IN ITA NO. 2992 & 2993/DEL/2014 WHICH WERE 2007-08 AND 2008-09 ASSESS MENT YEARS. AT THE TIME OF HEARING, ADJOURNMENT PETITION WAS MOVED ON BEHAL F OF THE ASSESSEE. HOWEVER, CONSIDERING THE SUBMISSIONS OF THE LD. SR. DR THAT THE DEPARTMENTAL APPEAL CAN BE DECIDED ON THE BASIS OF TAX EFFECT, THE APPLICAT ION WAS REJECTED. THE LD. SR. DR APPELLANT BY SH. MANOJ KR. CHOPRA, SR. DR RESPONDENT BY SH. ABHINANDAN JAIN, CA DATE OF HEARING 05.05.2016 DATE OF PRONOUNCEMENT 06.05.2016 2 ITA NO. 2994/DE L/2013 & C.O 217,215,216/DEL/2014 SUBMITTED THAT IN THE YEAR UNDER CONSIDERATION THE TAX EFFECT IS MUCH BELOW RS.10 LACS AND IN 2007-08 AND 2008-09 ASSESSMENT YEARS AL SO THE POSITION WAS THE SAME FOR WHICH PURPOSES THE APPEALS HAD BEEN DISMISSED. IN THESE CIRCUMSTANCES, IT WAS HIS SUBMISSION THAT THE C.OS BECOME INFRUCTUOUS . 2. WE HAVE HEARD THE SUBMISSIONS AND PERUSED THE MA TERIAL AVAILABLE ON RECORD ON CONSIDERING THE SUBMISSION OF THE LD. SR. DR ITA NO. 2994/DEL/2013 IS DISMISSED RELYING UPON THE CBDT CIRCULAR NO.21/2015 DATED 10.12.2015 WHICH HAS REVISED THE MONETARY LIMIT TO RS.10 LAKH FOR FI LING THE APPEAL BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TRIBUNAL. VI DE PARA 10 OF THE AFORESAID CIRCULAR PARA 3 HAS BEEN MADE APPLICABLE RETROSPECT IVELY. CONSIDERING THE SETTLED LEGAL PRECEDENT THAT THE BOARDS INSTRUCTIONS OR DI RECTIONS ISSUED TO THE INCOME TAX AUTHORITIES U/S 268A OF THE INCOME TAX ACT, 1961 AR E BINDING ON THE AUTHORITIES, WE DISMISS THE DEPARTMENTAL APPEAL CONSIDERING THE MATERIAL AVAILABLE ON RECORD. THE C.OS ARE ACCORDINGLY DISMISSED AS INFRUCTUOUS. 3. IN THE RESULT, THE APPEAL OF THE REVENUE AND C.O S OF THE ASSESSEES ARE DISMISSED. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 06 OF MAY 2016. SD/- SD/- (L. P. SAHU) (DIVA SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED:-06/05/2016 *R. NAHEED /AMIT KUMAR* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASS ISTANT REGISTRAR ITAT NEW DELHI