DCIT (LTU), New Delhi V. M/s. Max New York Life Insurance Co. Ltd., New Delhi

ITA 3054/DEL/2015

• Counselvise Citation: [2018] 122 COUNSELVISE.COM (IT) 4110 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 4 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2008-2009
• Appeal Filed On: 15-05-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHEFALI SWAROOP
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : E : NEW DELHI BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI LALIET KUMAR, JUDICIAL MEMBER ITA NOS.3053 & 3054/DEL/2015 ASSESSMENT YEARS : 2007-08 & 2008-09 DCIT (LTU), CIRCLE-1, NBCC PLAZA, PUSHP VIHAR, SAKET, NEW DELHI. VS. MAX NEW YORK LIFE INSURANCE CO. LTD., PLOT NO.90-A, SECTOR-18, HUDA, PHASE-1, GURGAON. PAN: AACCM3201E CO NOS.469 & 470/DEL/2015 (ITA NOS.3053 & 3054/DEL/2015) ASSESSMENT YEARS : 2007-08 & 2008-09 MAX NEW YORK LIFE INSURANCE CO. LTD., PLOT NO.90-A, SECTOR-18, HUDA, PHASE-1, GURGAON. PAN: AACCM3201E VS. DCIT (LTU), CIRCLE-1, NBCC PLAZA, PUSHP VIHAR, SAKET, NEW DELHI. (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI HIMANSHU SINHA, CA DEPARTMENT BY : MS SHEFALI SWAROOP, CIT, DR ITA NOS.3053 & 3054/DEL/2015 CO NOS.469 & 470/DEL/2015 2 DATE OF HEARING : 11.10.2018 DATE OF PRONOUNCEMENT : 11.10.2018 ORDER PER BENCH: THESE TWO APPEALS FILED BY THE REVENUE AND EQUAL N UMBER OF CROSS OBJECTIONS FILED BY THE ASSESSEE RELATE TO AS SESSMENT YEARS 2007- 08 & 2008-09. 2. DURING THE COURSE OF HEARING, THE LD. AR SUBMITT ED THAT PURSUANT TO THE MANDATE OF SECTION 268A THE CBDT HA S ISSUED CIRCULAR NO. 03 OF 2018, DATED 11TH JULY, 2018 WITH RETROSPECTIVE EFFECT, REVISING THE MONETARY LIMIT TO RS.20,00,000/- FOR N OT FILING APPEALS BEFORE THE TRIBUNAL. HE FURTHER SUBMITTED THAT AS THE TAX EFFECT INVOLVED IN THE INSTANT APPEALS IS LESS THAN RS.20, 00,000/-, THE EXTANT APPEALS ARE NOT MAINTAINABLE. THE LD. D.R., ALTHOUGH SUPPORTED THE ORDER OF THE ASSESSING OFFICER, BUT C OULD NOT CONTROVERT THE FACT THAT TAX EFFECT INVOLVED IN THE SE APPEALS IS LESS THAN RS.20,00,000/-. ITA NOS.3053 & 3054/DEL/2015 CO NOS.469 & 470/DEL/2015 3 3. WE HAVE HEARD THE PARTIES AND PERUSED THE RELEVA NT MATERIAL ON RECORD. GOING BY THE PRESCRIPTION OF TH E AFORENOTED CIRCULAR, IT IS PALPABLE THAT THE INSTRUCTION IS AP PLICABLE TO THE PENDING APPEALS ALSO WITH RETROSPECTIVE EFFECT AND THERE IS A CLEAR-CUT DIRECTION TO THE DEPARTMENT TO WITHDRAW OR NOT PRESS SUCH APPEAL S FILED BEFORE THE ITAT, WHEREIN TAX EFFECT IS LESS THAN RS.20,00,000/ -. WE ARE, THEREFORE, OF THE VIEW THAT THE REVENUE SHOULD HAVE EITHER NOT FILED THE INSTANT APPEALS BEFORE THE TRIBUNAL OR WITHDRAWN THE SAME A S THE TAX EFFECT IN THESE APPEALS IS ADMITTEDLY LESS THAN THE PRESCRIBE D LIMIT, I.E., RS. 20,00,000/- FOR NOT FILING THE APPEAL. ACCORDINGLY, WE DISMISS THE INSTANT APPEALS WITHOUT GOING INTO MERITS OF THE CASE. 4. THE LD. AR ADMITTED THAT THE CROSS OBJECTIONS OF THE ASSESSEE HAVE BECOME INFRUCTUOUS IN VIEW OF THE DISMISSAL OF THE APPEALS OF THE REVENUE. WE DISMISS THE C.OS. OF THE ASSESSEE. ITA NOS.3053 & 3054/DEL/2015 CO NOS.469 & 470/DEL/2015 4 5. IN THE RESULT, THE APPEALS OF THE REVENUE STAND DISMISSED. THE ORDER PRONOUNCED IN THE OPEN COURT ON 11.10.20 18. SD/- SD/- [LALIET KUMAR] [R.S. SYAL] JUDICIAL MEMBER VICE PRESIDENT DATED, 11 TH OCTOBER, 2018. DK COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT AR, ITAT, NEW DELHI.