ACIT, Chatrapatti V. M/s. Chona Financial Services Pvt. ltd., CHENNAI

ITA 3039/CHNY/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 4464 (ITAT-CHENNAI)
• Duration Of Justice: 7 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-05-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 24-04-2017
• Assessment Year: 2000-2001
• Appeal Filed On: 27-10-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR B NISCHAL
• Assessee Lawyers: ASHIT AGARWAL
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI . . . , . . , BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER ./ ITA NO. 3039/MDS/2016 / ASSESSMENT YEAR : 2000-01 THE ASST. COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(2), CHENNAI 600 034 V. M/S. CHONA FINANCIAL SERVICES PVT. LTD., NEW NO.46, OLD NO.19, PRAKASAM STREET, T.NAGAR, CHENNAI 600 017. PAN:AAACC3031C ( ! /APPELLANT) ( '# ! /RESPONDENT) ! $ /APPELLANT BY : DR.B. NISCHAL, JCIT '# ! $ /RESPONDENT BY : SHRI ASHIT AGARWAL, CA $ /DATE OF HEARING : 24.04.2017 $ /DATE OF PRONOUNCEMENT : 31.05.2017 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER : THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST THE O RDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-1, CHENNAI DAT ED 12.08.2016 AND PERTAINS TO THE ASSESSMENT YEAR 2000-01. 2 I.T.A. NO. 3039/MDS/2016 2. WHEN THE APPEAL IS TAKEN FOR HEARING BOTH THE LD . REPRESENTATIVE FOR THE ASSESSEE SHRI ASHIT AGARWAL AND THE LD. REPRESENTATIVE FOR THE REVENUE DR.B. NISCHAL SU BMITTED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS. 10 LAKHS. IN VIEW OF THE LATEST CIRCULAR ISSUED BY THE CENTRAL BOARD OF DIRECT TAXES (CBDT), INSTRUCTED ITS OFFICERS NOT TO FILE AN APPEAL BEFOR E THIS TRIBUNAL, WHEREIN THE TAX EFFECT IS LESS THAN RS.10 LAKHS. THIS TRIBUN AL IS OF THE CONSIDERED OPINION THAT THE APPEAL FILED BY THE REV ENUE IS NOT MAINTAINABLE. ACCORDINGLY THE APPEAL OF THE REVENU E STANDS DISMISSED. 3. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DISMISSED. ORDER PRONOUNCED ON 31 ST MAY, 2017 AT CHENNAI. SD/- SD/- ( . . ) ( . . . ) (D.S. SUNDER SINGH) (N.R.S. GANESA N) /ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, /DATED, THE 31 ST MAY, 2017. JR. /COPY TO: 1. /APPELLANT 2. /RESPONDENT 3. ( )/CIT(A) 4. /CIT 5. !' /DR 6. #$ /GF