ITO, WD-7(1), KOLKATA, Kolkata V. M/s Nezone Traders Pvt. Ltd., Kolkata

ITA 317/KOL/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 4608 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 3 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-07-2016
• Appeal Filed By: Department
• Bench Allotted: SMC
• Assessment Year: 2005-2006
• Appeal Filed On: 30-03-2015
• Court: TRIBUNAL
• Department Lawyers: SNEHOTPAL DUTTA
• Assessee Lawyers: D S DAMLE
• Keywords: Tax effect

Judgement Text

I.T.A. NO. 317/KOL./2015 ASSESSMENT YEAR: 2005-2006 & C.O. 21/KOL/2015 (ARISING OUT OF ITA NO. 317/KOL/2015) ASSESSMENT YEAR: 2005-2006 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA B(SMC) BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER I.T.A. NO. 317 /KOL/ 2015 ASSESSMENT YEAR: 2005-2006 INCOME TAX OFFICER,................................ ..................................APPELLANT WARD-7(1), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 -VS.- M/S. NEZONE TRADERS (P) LIMITED,................... ......................RESPONDENT 216, A.J.C. BOSE ROAD, KOLKATA-700 017 [PAN: AABCM 0682 M] & C.O. NO. 21/KOL/2015 (ARISING OUT OF I.T.A. NO. 317/KOL/2015) ASSESSMENT YEAR: 2005-2006 M/S. NEZONE TRADERS (P) LIMITED,................... ......................CROSS OBJECTOR 216, A.J.C. BOSE ROAD, KOLKATA-700 017 [PAN: AABCM 0682 M] -VS.- INCOME TAX OFFICER,................................ ..................................RESPONDENT WARD-7(1), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 APPEARANCES BY: SHRI SNEHOTPAL DUTTA, JCIT, D.R., FOR THE DEPARTMENT SHRI D.S. DAMLE, FCA, FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : JULY 19, 2016 DATE OF PRONOUNCING THE ORDER : JULY 19, 2016 O R D E R THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-3, KOLKATA DAT ED 28.01.2015 AND I.T.A. NO. 317/KOL./2015 ASSESSMENT YEAR: 2005-2006 & C.O. 21/KOL/2015 (ARISING OUT OF ITA NO. 317/KOL/2015) ASSESSMENT YEAR: 2005-2006 PAGE 2 OF 3 THE SAME IS BEING DISPOSED OF ALONG WITH THE CROSS OBJECTION FILED BY THE ASSESSEE BEING C.O. NO. 21/KOL/2015. 2. AS POINTED OUT BY THE LD. COUNSEL FOR THE ASSESS EE, AT THE OUTSET, THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE I S LESS THAN THE REVISED MONETARY LIMIT RECENTLY FIXED BY THE CBDT VIDE CIRC ULAR NO. 21/2015 DATED 10 TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE AP PEAL BY THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION CLEAR LY EVIDENT FROM THE GROUNDS RAISED BY THE REVENUE IN THIS APPEAL IS NOT DISPUTED EVEN BY THE LD. D.R. IN CIRCULAR NO. 21/2015 (SUPRA) RECENTLY I SSUED BY THE CBDT, THE MONETARY LIMIT FOR FILING THE APPEALS BY THE REVENU E BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND AS CLARIFI ED IN THE SAID CIRCULAR, THE SAID MONETARY LIMIT IS APPLICABLE RETROSPECTIVE LY EVEN TO THE APPEALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INST RUCTED THAT SUCH PENDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF R S.10,00,000/- MAY BE WITHDRAWN/ NOT PRESSED. KEEPING IN VIEW THE INSTRUC TION GIVEN BY THE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10.12.2015, WH ICH IS SQUARELY APPLICABLE IN THE PRESENT CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WITHDRAWN/NOT PRESSED AND DISMIS SED ACCORDINGLY. 3. AS AGREED BY THE LD. REPRESENTATIVE OF THE ASSES SEE, THE CROSS OBJECTION FILED BY THE ASSESSEE HAS BECOME INFRUCTU OUS AS A RESULT OF DISMISSAL OF THE CORRESPONDING APPEAL OF THE REVENU E. ACCORDINGLY, THIS CROSS OBJECTION FILED BY THE ASSESSEE IS ALSO DISMI SSED. 4. IN THE RESULT, THE APPEAL OF THE REVENUE AS WELL AS THE CROSS OBJECTION FILED BY THE ASSESSEE BOTH ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON JULY 19, 2016 . SD/- (P.M. JAGTAP) ACCOUNTANT MEMBER KOLKATA, THE 19 TH DAY OF JULY, 2016 I.T.A. NO. 317/KOL./2015 ASSESSMENT YEAR: 2005-2006 & C.O. 21/KOL/2015 (ARISING OUT OF ITA NO. 317/KOL/2015) ASSESSMENT YEAR: 2005-2006 PAGE 3 OF 3 COPIES TO : (1) INCOME TAX OFFICER, WARD-7(1), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 (2) M/S. NEZONE TRADERS (P) LIMITED, 216, A.J.C. BOSE ROAD, KOLKATA-700 017 (3) COMMISSIONER OF INCOME TAX (APPEALS)-3, KOLKA TA, (4) COMMISSIONER OF INCOME TAX- , (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.