ITO, WARD- 20(3), NEW DELHI V. RNAM FINLEASE PVT. LTD., NEW DELHI

ITA 3515/DEL/2018

• Counselvise Citation: [2018] 122 COUNSELVISE.COM (IT) 5362 (ITAT-DELHI)
• Duration Of Justice: 4 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 11-05-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI SMC BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA , ACCOUNTANT MEMBER ITA NO. 3 515 /DEL/201 8 [ASSESSMENT YEAR: 2 0 08 - 09 ] THE I.T. O VS. RNAM FINLEASE PVT LTD WARD 20(3) AG 5, SHALIMAR BAGH NEW DELHI NEW DELHI PAN: AAACR 3761 N [APPELLANT] [RESPONDENT] DATE OF HEARING : 2 7 . 0 9 .201 8 DATE OF PRONOUNCEMENT : 08 . 1 0.2018 ASSESSEE BY : NONE REVENUE BY : S HRI SURENDRA PAL , SR. DR ORDER PER N .K. BILLAIYA, ACCOUNTANT MEMBER: T HIS APPEAL BY THE REVENUE IS PREFERRED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX [APPEALS] 38 , NEW DELHI DATED 30 .0 3 .201 6 PERTAINING TO ASSESSMENT YEAR 2008 - 09 . 2 2. THIS APPEAL BY THE REVENUE HAS TO BE DISMISSED IN THE LIGHT OF THE CBDT CIRCULAR NO. 3/2018 DATED 11.07.2018 BY WHICH THE BOARD HAS REVISED THE MONETARY LIMIT FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE ITAT AND THE MONETARY LIMIT HAS BEEN FIXED AT RS. 20 LAKHS. THE BOARD AT CLAUSE 13 OF THE SAID CIRCULAR HAS CLARIFIED AS UNDER: THIS CIRCULAR WILL APPLY TO SLPS/APPEALS/CROSS OBJECTIONS/ REFERENCES TO BE FILED HENCEFORTH IN SUPREME COURT/HIGH COURT/TRIBUNAL AND IT SHALL ALSO APPLY RETROSPECTIVELY TO PENDING SLPS/APPEALS/CROSS OBJECTIONS/ REFERENCES. THE PENDING APPEALS BELOW THE SPECIFIED TAX LIMIT IN PARA 3 ABOVE MAY BE WITHDRAWN/NOT PRESSED. 3 . HOWEVER, IT IS OBSERVED THAT IN CASE ON RE - VERIFICATION AT THE END OF THE ASSESSING OFFICER IT CAN BE DEMONSTRATED THAT THE TAX EFFECT IS MORE, OR REVENUE'S CASE FALLS WITHIN THE AMBIT OF EXCEPTIONS PROVIDED IN THE CIRCULAR, THEN THE DEPARTMENT WILL BE AT LIBERTY TO APPROACH THE TRIBUNAL FOR REC ALL OF THIS ORDER RE LATABL E TO SUCH CASE. SUCH APPLICATION SHOULD BE FILED WITHIN THE TIME PERIOD PRESCRIBED IN THE ACT. 3 4. IN THE LIGHT OF THE AFORESAID CBDT CIRCULAR, THE APPEAL FILED BY THE REVENUE IS DISMISSED. 5 . IN THE RESULT, THE APPEAL FILED BY T HE REVENUE IN ITA NO. 3515 /DEL/201 8 IS DISMISSED . THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 08 . 10 .2018. S D / - [N.K. BILLAIYA] ACCOUNTANT MEMBER DATED: 0 8 T H OCTOBER , 2018 VL/ COPY FORWARDED TO: 1 . APPELLANT 2 . RESPONDENT 3 . CIT 4 . CIT(A) ASST. REGISTRAR, 5. DR ITAT, NEW DELHI 4 DATE OF DICTATION DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.PS/PS DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.PS/PS DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT DATE ON WHICH THE FILE GOES TO THE BENCH CLERK DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER