ACIT, Non Corporate Circle-1, Coimbatore V. V R Foundaries, Coimbatore

ITA 355/CHNY/2018

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 2819 (ITAT-CHENNAI)
• Duration Of Justice: 6 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-08-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2013-2014
• Appeal Filed On: 29-01-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: CLEMENT RAMESH KUMAR R
• Assessee Lawyers: K RAGHU
• Keywords: Assessment record; Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , C BENCH, CHENNAI . . . , . , BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER ./ I.T.A.NO.355/CHNY/2018 ( / ASSESSMENT YEAR:2013-14) THE ACIT, NON-CORPORATE CIRCLE -1, COIMBATORE. VS M/S. V.R. FOUNDRIES, 83, P.K.D. NAGAR, PEELAMEDU, COIMBATORE 641 004. PAN: AACFV2137K ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : SHRI CLEMENT RAMESH KUMAR.R, ADDL.CIT / RESPONDENT BY : SHRI K. RAGHU, CA /DATE OF HEARING : 16.08.2018 /DATE OF PRONOUNCEMENT : 16.08.2018 / O R D E R PER A. MOHAN ALANKAMONY, AM:- THE APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-2, CHENNAI, DATED 28.09.2017 IN ITA NO.35/16-17 FOR THE ASSESSMENT YEAR 2013- 14 PASSED U/S.250(6) R.W.S. 143 OF THE ACT. 2. THERE IS A DELAY OF 24 DAYS IN FILING THE APPEAL BY THE REVENUE. THE LD.DCIT HAS FURNISHED AN AFFIDAVIT BEFORE US STATING THAT THE DELAY HAD OCCURRED DUE TO DISPLACEMENT OF ASSESSMENT RECORDS. IT WAS THEREFORE PLEADED THAT THE SHORT DELAY IN FILING THE APPEAL MAY BE 2 ITA NO.355/CHNY/2018 CONDONED. THE LD.AR OBJECTED TO THE SUBMISSION OF THE LD.DR. HOWEVER, AFTER HEARING BOTH SIDES, THOUGH WE DO NOT APPRECIATE THE LETHARGIC ATTITUDE OF THE REVENUE, IN THE INTEREST OF JUSTICE WE ARE OF THE CONSIDERED VIEW THAT THE SHORT DELAY IN FILING THE APPEAL REQUIRES TO BE CONDONED. ACCORDINGLY WE HEREBY CONDONE THE DELAY OF 24 DAYS IN FILING THE APPEAL BY THE REVENUE AND PROCEED TO HEAR THE CASE ON MERITS. 3. AT THE OUTSET, THE LD.AR SUBMITTED BEFORE US THAT THE ABOVE MENTIONED APPEAL IS NOT MAINTAINABLE DUE TO THE LATEST CIRCULAR NO.3/2018 DATED 11.07.2018 ISSUED BY THE CBDT WITH RESPECT TO MONETARY LIMIT. HENCE, IT WAS PLEADED THAT THE APPEAL OF THE REVENUE MAY BE DISMISSED. THE LD. DR COULD NOT CONTROVERT TO THE SUBMISSION OF THE LD.AR. 4. AFTER HEARING BOTH SIDES WE FIND MERIT IN THE SUBMISSION OF THE LD.AR. THE CBDT HAS DIRECTED THE REVENUE NOT TO FILE APPEAL BEFORE THE TRIBUNAL WHERE THE TAX EFFECT DOES NOT EXCEED RS.20 LAKHS. IN THE ABOVE MENTIONED APPEAL OF THE ASSESSEE THE TAX EFFECT IS LESS THAN RS.20 LAKHS. THEREFORE, WE HEREBY DISMISS THE APPEAL FILED BY THE REVENUE AS NOT MAINTAINABLE. 3 ITA NO.355/CHNY/2018 5. IN THE RESULT APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THE 16 TH AUGUST, 2018 AT CHENNAI. SD/- SD/- ( . . . ) (N.R.S. GANESAN) /JUDICIAL MEMBER ( . ) (A. MOHAN ALANKAMONY) / ACCOUNTANT MEMBER /CHENNAI, /DATED 16 TH AUGUST, 2018 RSR /COPY TO: 1. /APPELLANT 2. /RESPONDENT 3. ( )/CIT(A) 4. /CIT 5. /DR 6. /GF