ITO, Sonepat V. M/s. Deep Construction Co., Sonepat

ITA 4180/DEL/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 7002 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 29-07-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIJAY KR JIWANI
• Keywords: Gross profit estimation; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: B NEW DELHI BEFORE SHRI R.K.PANDA, ACCOUNTANT MEMBER & SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA NO.-4180/DEL/2016 ( ASSESSMENT YEAR: 2009-10) ITO WARD-1 SONEPAT VS DEEP CONSTRUCTION CO. 138-L, MODEL TOWN SONEPAT PAN : AADFD5495K ASSESSEE BY SH. NAVIN GUPTA, ADV. REVENUE BY SH. VIJAY KR. JIWANI, SR. DR ORDER PER SUDHANSHU SRIVASTAVA, J.M. THIS APPEAL IS FILED BY THE DEPARTMENT AGAINST ORDE R DATED 20.05.2016 PASSED BY THE LD. CIT(A), ROHTAK FOR ASS ESSMENT YEAR 2009-10 WHEREIN VIDE THE IMPUGNED ORDER. THE LD. CI T(A) HAS RESTRICTED THE ADDITION ON GROSS PROFIT ESTIMATION FROM 12% TO 4 % BY CONSIDERING THE PAST ASSESSMENTS OF THE ASSESSEE . ADMITTEDLY AS PER THE WORKING OF THE TAX EFFECT ON RECORD FILE D BY THE DEPARTMENT THE TAX INVOLVED IS RS. 16,89,780/- AND, THUS, IN VIEW OF CIRCULAR NO. 3/2018 DATED 11.07.2018 AND THE MAT ERIAL AVAILABLE ON RECORD, THE LD. SR. DR COULD NOT POINT OUT IF THIS CASE FELL UNDER ANY OF THE EXCEPTIONS AS PROVIDED IN THE AFORESAID DATE OF HEARING 31.07.2018 DATE OF PRONOUNCEMENT 31.07.2018 2 ITA N O. 4180/DEL/2016 CIRCULAR. WE ALSO FIND THAT THE AFORESAID CIRCULAR MAKES IT VERY CLEAR THAT THE REVISED MONETARY LIMITS SHALL APPLY RETROSPECTIVELY TO PENDING APPEALS ALSO. HENCE, WE HOLD THAT THE APPEA L OF THE REVENUE DESERVES TO BE DISMISSED IN TERMS OF LOW TA X EFFECT VIDE CIRCULAR NO. 03/ 2018 DATED 11.07.2018. ACCORDINGL Y, THIS BEING A LOW TAX EFFECT CASE, WE DISMISS THIS APPEAL OF RE VENUE IN LIMINE , AS UN-ADMITTED, WITHOUT GOING INTO THE MERITS OF TH E CASE. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 31.07.2018 SD/- SD/- (R.K.PANDA) (SUDHANSHU SRI VASTAVA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 31.07.2018 *BR* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT TRUE COPY ASSISTANT REGISTRAR ITAT NEW DELHI