ITO, Khanna V. Sh. Balwinder Singh, Malloud

ITA 348/CHANDI/2014

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 0133 (ITAT-CHANDIGARH)
• Duration Of Justice: 2 year(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-04-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 05-08-2015
• Assessment Year: 2003-2004
• Appeal Filed On: 04-04-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K MITTAL
• Assessee Lawyers: P C GOYAL
• Keywords: Tax effect
• Section: 68

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCHES, CHANDIGARH BEFORE SHRI H.L.KARWA, HON'BLE VICE PRESIDENT & MS. RANO JAIN, ACCOUNTANT MEMBER ITA NO. 348/CHD/2014 ASSESSMENT YEAR: 2003-04 THE ITO, WARD-1, VS. SH. BALWINDER SINGH KHANNA S/O SH. KULDEEP SINGH TEHSIL PAYAL. (APPELLANT) (RESPONDENT) APPELLANT BY : SH. S.K. MITTAL RESPONDENT BY : SH. P.C. GOYAL DATE OF HEARING : 05.04.2016 DATE OF PRONOUNCEMENT : 05.04.2016 . ORDER PER H.L.KARWA, VP THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINS T THE ORDER OF CIT(A)- II, LUDHIANA DATED 10.01.2014 RELATING TO ASSESSME NT YEAR 2003-04. 2. IN THIS APPEAL, THE REVENUE HAS RAISED THE FOLLO WING GROUNDS:- 1. THAT THE LD. CIT(A) HAS ERRED ON FACTS AND IN LA W IN DELETING THE ADDITION OF RS. 14,00,000/- CLAIMED BY THE ASSESSEE AS AGRICULTURAL INCOME AND ASSESSED BY THE ASSESSING OFFICER U/S 68 OF THE INCOME-TAX ACT, 196 1 BY TREATING THE SAME AS SALE OF DIARY FARM ANIMALS, WH ICH WAS NEVER CLAIMED BY THE ASSESSEE IN THE RETURN OF INCOME. 2 2. THAT THE LD. CIT(A) HAS ERRED ON FACTS AND IN LA W IN DELETING THE ADDITION OF RS. 14,00,000/-BY IGNORING THE FACTS THAT NO DIARY INCOME HAS BEEN DECLARED BY THE ASSESSEE IN HIS RETURN OF INCOME FOR THE YEAR UNDER CONSIDERATION, HENCE THE CLAIMED DAIRY FARM ANIMALS SOLD CANNOT BE TREATED TO BE ENGAGED IN DIARY BUSIN ESS. 3. WE HAVE HEARD SH. S.K. MITTAL, LD. DR AND SHRI P .C. GOYAL, LD. COUNSEL FOR THE ASSESSEE. IT IS OBSERVED THAT IN THIS CAS E THE TAX EFFECT DOES NOT EXCEED THE MONETARY LIMIT OF RS. 10 LAKHS. THUS, IN VIEW O F CIRCULAR NO. 21/2015 DATED 10.12.2015, F.NO. 279/MISC.142/2007-ITJ(PT), GOVERN MENT. OF INDIA, MINISTRY OF FINANCE, DEPARTMENT OF REVENUE, CENTRAL BOARD OF DIRECT TAXES, THE INSTANT APPEAL DESERVES TO BE TREATED AS WITHDRAWN / NOT PR ESSED. VIDE PARA 10 OF THE ABOVE INSTRUCTIONS, THE CBDT HAS CLARIFIED THAT THI S INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO B E FILED HENCEFORTH IN ITAT. THE CBDT HAS FURTHER CLARIFIED THAT THE PENDING APP EALS BEFORE THE TRIBUNAL BELOW THE SPECIFIED TAX LIMITS I.E. RS. 10 LAKHS MA Y BE WITHDRAWN / NOT PRESSED BY THE REVENUE. IT IS ALSO OBSERVED THAT THE ISSUE INVOLVED IN THIS APPEAL IS NOT COVERED BY PARA 8 (EXCEPTIONS) OF THE ABOVE INSTRUC TIONS. ACCORDINGLY, THE APPEAL FILED BY THE REVENUE IS TREATED AS WITHDRAWN / NOT PRESSED. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 05.04.2016 SD/- SD/- (RANO JAIN) (H.L.KARWA) ACCOUNTANT MEMBER VICE PRESIDENT DATED : 5 TH APRIL, 2016 RKK COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR 3