ITO, New Delhi V. M/s. O.M.S. Leasing P. Ltd., New Delhi

ITA 3979/DEL/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 4267 (ITAT-DELHI)
• Duration Of Justice: 8 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-05-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 02-05-2011
• Assessment Year: 2003-2004
• Appeal Filed On: 26-08-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KISHORE B
• Assessee Lawyers: JAGJIT SINGH; RAJIV SAXENA S
• Keywords: Tax effect
• Section: 68

Judgement Text

ITA NO. 3979/DEL/2010 1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH E NEW DELHI BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER I.T.A. NO. 3979/DEL/2010 A.Y. : 2003-04 INCOME TAX OFFICER, WARD 13(4), ROOM NO. 219, C.R. BUILDING, NEW DELHI VS. M/S O.M.S. LEASING PVT. LTD., 53/5, 2936/43, BEADONPURA, KAROL BAGH, NEW DELHI - 110005 (PAN/GIR NO. : AAACO0255C) (APPELLANT ) (APPELLANT ) (APPELLANT ) (APPELLANT ) (RESPONDENT ) (RESPONDENT ) (RESPONDENT ) (RESPONDENT ) ASSEESSEE BY : SH. JAGJIT SINGH & SH. RAJIV SAXENA, ADVOCATES DEPARTMENT BY : SH. KISHORE B, SR. D.R. ORDER ORDER ORDER ORDER PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST TH E ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) DATED 08.6.2 010 PERTAINING TO ASSESSMENT YEAR 2003-04. 2. THE ISSUE RAISED IS THAT LD. COMMISSIONER OF INCOM E TAX (APPEALS) HAS ERRED IN DELETING THE ADDITION OF ` 6 ,00,000/- MADE ON ACCOUNT OF SHARE APPLICATION MONEY U/S 68 OF THE IN COME TAX ACT, 1961. 3. AT THE THRESHOLD, WE NOTE THAT THE TAX EFFECT IN THIS APPEAL IS LESS THAN ` 3 LAKHS. AS PER INSTRUCTION NO. 3/2011 (F.NO . 279/MISC./142/2007-ITJ) DATED 09.02.2011 ISSUED BY T HE CBDT, THE TAX EFFECT FOR FILING APPEAL BEFORE THE APPELLATE TRIBU NAL SHOULD BE MORE ITA NO. 3979/DEL/2010 2 THAN ` 3 LAKHS. THE AFORESAID INSTRUCTIONS HAVE BE EN 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. 179/1 991, ORDER DATED 2 ND AUGUST, 2010. (II) C.I.T. VS. DELHI RACE CLUB IN ITA NO. 128/2008 , ORDER DATED 3 RD MARCH, 2011. 3.1 IN THE PRESENT CASE, ADMITTEDLY THE TAX IS BELO W ` 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 DISMI SSED FOR TAX EFFECT. 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 02/5/2011 UPO N CONCLUSION OF HEARING. SD/- SD/- [RAJPAL YADAV] [RAJPAL YADAV] [RAJPAL YADAV] [RAJPAL YADAV] [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 02/5/2011 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