DCIT, CIR-9(1), KOLKATA, Kolkata V. M/s Lumbini Beverages Pvt. Ltd., Kolkata

ITA 300/KOL/2016

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 0731 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 9 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-12-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2006-2007
• Appeal Filed On: 26-02-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Depreciation; Tax effect

Judgement Text

1 ITA NO. 300/KOL/2016 ASSESSMENT YEAR: 2006-2007 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA D BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER I.T.A. NO. 300/KOL./2016 ASSESSMENT YEAR: 2006-2007 DEPUTY COMMISSIONER OF INCOME TAX,................. ...............APPELLANT CIRCLE-9(1), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 -VS.- M/S. LUMBINI BEVERAGES PVT. LIMITED,............... .........RESPONDENT 41, CHOWRINGHEE SQUARE, KOLKATA-700 071 [PAN: AAACL 5205 F] APPEARANCES BY: SHRI ARINDAM BHATTACHARJEE, ADDL. CIT, D.R., FOR TH E DEPARTMENT SHRI AMIT SHARMA, A.R. (STAFF), FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : DECEMBER 13, 2017 DATE OF PRONOUNCING THE ORDER : DECEMBER 13, 2017 O R D E R PER SHRI P.M. JAGTAP, ACCOUNTANT MEMBER : THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-18, KOLKATA DA TED 02.12.2015 AND IN THE SOLITARY GROUND RAISED THEREIN, THE REVENUE HAS CHALLENGED THE ACTION OF THE LD. CIT(APPEALS) IN ALLOWING THE CLAI M OF THE ASSESSEE FOR CARRY FORWARD OF DEPRECIATION FOR ASSESSMENT YEAR 1 998-99 TO THE EXTENT OF RS.15,52,507/-. 2. AT THE TIME OF HEARING FIXED IN THIS CASE TODAY, I.E. ON 13.12.2017, THE LD. COUNSEL FOR THE ASSESSEE, AT THE OUTSET, HA S POINTED OUT THAT THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LE SS THAN THE MONETARY LIMIT FIXED BY THE CBDT VIDE CIRCULAR NO. 21/2015 D ATED 10 TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE APPEAL BY THE REVENUE BEFORE THE 2 ITA NO. 300/KOL/2016 ASSESSMENT YEAR: 2006-2007 TRIBUNAL AND THIS POSITION CLEARLY EVIDENT FROM THE GROUND RAISED BY THE REVENUE IN THIS APPEAL IS NOT DISPUTED EVEN BY THE LD. D.R. IN CIRCULAR NO. 21/2015 (SUPRA) ISSUED BY THE CBDT, THE MONETARY LI MIT FOR FILING THE APPEALS BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND AS CLARIFIED IN THE SAID CIRCULA R, THE SAID MONETARY LIMIT IS APPLICABLE RETROSPECTIVELY EVEN TO THE APP EALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED THAT SUCH PE NDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF RS.10,00,000/- MAY BE W ITHDRAWN/ NOT PRESSED. KEEPING IN VIEW THE INSTRUCTION GIVEN BY THE CBDT V IDE CIRCULAR NO. 21/2015 DATED 10.12.2015, WHICH IS SQUARELY APPLICA BLE IN THE PRESENT CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WITHDRAWN/NOT PRESSED AND DISMISSED ACCORDINGLY. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISS ED. ORDER PRONOUNCED IN THE OPEN COURT ON 13 TH DAY OF DECEMBER, 2017. SD/- SD/- (S.S. VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER ACCOUNTANT MEMBER KOLKATA, THE 13 TH DAY OF DECEMBER, 2017 COPIES TO : (1) DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-9(1), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 2) M/S. LUMBINI BEVERAGES PVT. LIMITED, 41, CHOWRINGHEE SQUARE, KOLKATA-700 071 (3) CIT(APPEALS)-18, KOLKATA, (4) CIT- , KOLKATA, (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE TRUE COPY BY ORDER SENIOR PRIVATE SECRETARY, HEAD OF OFFICE/DDO, INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.