ACIT, New Delhi V. M/s. CEC Soma (JV), New Delhi

ITA 3268/DEL/2013

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 4297 (ITAT-DELHI)
• Duration Of Justice: 4 year(s) 4 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-09-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 06-07-2017
• Assessment Year: 2008-2009
• Appeal Filed On: 23-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 143(3); 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH B, NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI WASEEM AHMED, ACCOUNTANT MEMBER I.T.A. NO.3268/DEL/2013 ASSESSMENT YEAR:2008-09 ACIT CIRCLE 38(1) NEW DELHI V. CEC SOMA (JV) RACE COURSE METRO STATION TUGLAQ CRESCENT, TUGLAQ ROAD NEW DELHI TAN/PAN:AAAAC4669E (APPELLANT) (RESPONDENT) APPELLANT BY: SHRI ANSHU PRAKASH, D.R. RESPONDENT BY: NONE DATE OF HEARING: 25 09 2017 DATE OF PRONOUNCEMENT: 25 09 2017 O R D E R PER AMIT SHUKLA, J.M.: THE AFORESAID APPEAL HAS BEEN FILED BY THE REVENUE AGAINST IMPUGNED ORDER DATED 5/8/2014, PASSED BY THE LD. CIT (A)-XXVIII, NEW DELHI FOR QUANTUM OF ASSESSMENT PASSED UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961 FOR ASSESSMENT YEAR 2008-09. 2. AT THE OUTSET, LD. SR. DR FAIRLY POINTED OUT THAT THE TAX EFFECT ON THE DISPUTED ISSUE AS HAS BEEN RAISED BY THE REVENUE IN THE GROUNDS OF APPEAL IS MUCH LESS THAN RS.10 LAKHS. THE DISPUTED AMOUNT AND THE TAX EFFECT AS PER CALCULATION GIVEN BY THE LD. DR IS AS UNDER:- 2 JV PARTNER U/S 143(3) U/S 143(3)/(250 CEC PROFIT SHARING RATIO TAX SURCHARGE CESS PROFIT SHARING RATIO TAX SURCHARGE CESS 70.00:30.00 40% 2.50% 3% 64.103:35.897 40% 2.50% 3% 15905406 6362162 159054 190865 14565489 5826196 145655 174786 SOMA ENTERPRISES PROFIT SHARING RATIO TAX SURCHARGE CESS PROFIT SHARING RATIO TAX SURCHARGE CESS 70.00:30.00 30% 10% 3% 64.103:35.897 30% 10% 3% 6816603 2044981 204498 61349 8156520 2446956 244696 73409 TOTAL TAX 8407143 8273152 TAX EFFECT RS.1,33,992/- 3. THUS THE TAX EFFECT ON THE DISPUTED ADDITION ADMITTEDLY IS MUCH LESS THAN RS.10 LAKHS, THEREFORE, IN VIEW OF C.B.D.T. CIRCULAR NO.21/2015 DATED 10/12/2015, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. IT HAS BEEN FURTHER CLARIFIED IN THE SAID CIRCULAR THAT THE MONETARY LIMIT FOR FILING OF APPEAL WILL APPLY ON ALL THE PENDING APPEALS ALSO. ACCORDINGLY THE APPEAL OF THE REVENUE IS DISMISSED IN-LIMINE WITHOUT GOING TO THE MERITS OF THE CASE. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 25 TH SEPTEMBER, 2017. SD/- SD/- [WASEEM AHMED] [AMIT SHUKLA] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 25TH SEPTEMBER, 2017 JJ:2509 3 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT(A) 4. CIT 5. DR ASSISTANT REGISTRAR DATE 1. DRAFT DICTATED ON 2. DRAFT PLACED BEFORE AUTHOR 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. 5. APPROVED DRAFT COMES TO THE SR.PS/PS 6. KEPT FOR PRONOUNCEMENT ON 7. FILE COMES BACK TO PS/SR. PS 8. UPLOADED ON 9. FILE SENT TO THE BENCH CLERK 10. DATE ON WHICH FILE GOES TO THE AR 11. DATE ON WHICH FILE GOES TO THE HEAD CLERK. 12. DATE OF DISPATCH OF ORDER.