ACIT, New Delhi V. Shri Govind Ambadi, New Delhi

ITA 3764/DEL/2011

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 52990 (ITAT-DELHI)
• Duration Of Justice: 2 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-10-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 13-10-2011
• Assessment Year: 2007-2008
• Appeal Filed On: 05-08-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SALIL MISHRA SR
• Assessee Lawyers: I M SA NSI
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH C DELHI) BEFORE SHRI C.L. SETHI AND SHRI SHAMIM YAHYA ITA NO. 3764(DEL)2011 ASSESSMENT YEAR: 2007-08 ASSTT.COMMISSIONER OF INCOME TAX, SHRI GOVIND A MBADI, CIRCLE 46(1), NEW DELHI. V. 55,MAY FAIR GARDEN, HAUZ KHAS, NEW DELHI. (APPELLANT) (RESPONDENT) APPELLANT BY: SH.SALIL MISHRA,SR. DR RESPONDENT BY: SHRI I.M. SA NSI, CA ORDER PER SHAMIM YAHYA, A.M. THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST T HE ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS)XXX, NEW DELHI D ATED 3.05.2011 AND PERTAINS TO ASSESSMENT YEAR 2007-08. THE GROUNDS RAISED BY THE REVENUE ARE AS UNDER:- ITA 3764(DEL)2011 2 ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) HAS ERRED IN: I) ALLOWING THE APPEAL OF THE ASSESSEE AND THEREBY DEL ETING THE ADDITION OF ` 6,91,045/- RIGHTLY MADE BY THE ASSESSING OFFICER ON ACCOUNT OF LONG TERM CAPITAL GAIN IGNORI NG THE FACT THAT THE EXPENSES, SUCH AS DEPOSITS AND OTH ER CHEQUES, ALLOWED TO BE DEDUCTED FROM LONG TERM CAP ITAL GAIN ARE OF REIMBURSABLE NATURE. II) REDUCING THE DECLARED AMOUNT OF INCOME FROM OTHER SOURCES BY ` 16,483/- WHEN THERE WAS NO GROUND OF APPEAL TAKEN BY THE ASSESSEE IN THIS REGARD. 2. AT THE THRESHOLD, WE NOTE THAT TAX EFFECT IN THI S CASE IS LESS THAN ` 3 LACS FIXED BY THE CBDT FOR FILING APPEAL BEFORE THE TRIBU NAL. AS PER INSTRUCTION NO. 3/2011 (F.NO. 279/MISC./142/2007-ITJ) DATED 09.02.2011 ISS UED BY THE CBDT, THE TAX EFFECT FOR FILING APPEAL BEFORE THE AP PELLATE TRIBUNAL SHOULD BE MORE THAN ` 3 LAKHS. THE AFORESAID INSTRUCTIONS HAV E BEEN HELD TO BE APPLICABLE TO ALL PENDING APPEALS BY THE JURISDICTI ONAL HIGH COURT IN THE DECISIONS IN THE CASES:- (I) C.I.T. VS. M/S P.S. JAIN & CO. IN ITA NO. 179/1991, O RDER DATED 2 ND AUGUST, 2010. (II) C.I.T. VS. DELHI RACE CLUB IN ITA NO. 128/2008, OR DER DATED 3 RD MARCH, 2011. ITA 3764(DEL)2011 3 2.1 IN THE PRESENT CASE, ADMITTEDLY THE TAX IS BELOW ` 3 LAKHS. HENCE, THE APPEAL IS IN CONTRAVENTION OF THE AFORESAID CBDT CIRCULAR/INSTRUCTION. HENCE, THE SAME IS LIABLE TO BE DISMISSED. ACCORDINGLY, THIS APPEAL BY THE REVENUE STANDS DISMISSED FOR TAX EFFECT. 3. IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 13.10.2011. SD/- SD/- [C.L. SETHI] [C.L. SETHI] [C.L. SETHI] [C.L. SETHI] [SHAMIM YAHYA] [SHAMIM YAHYA] [SHAMIM YAHYA] [SHAMIM YAHYA] JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER DATE 13.10.2011 SRB COPY FORWARDED TO: COPY FORWARDED TO: COPY FORWARDED TO: COPY FORWARDED TO: - -- - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT TRUE COPY BY ORDER, DEPUTY REGISTRAR, ITAT, DELHI BENCHES