ITO, New Delhi V. M/s Capital & Conceptsa Advisors P.Ltd., New Delhi

ITA 4273/DEL/2016

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 4771 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 1 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-09-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2004-2005
• Appeal Filed On: 03-08-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : B : NEW DELHI BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER ITA NO.4273/DEL/2016 ASSESSMENT YEAR : 2004-05 ITO, WARD-5(3), CR BUILDING, NEW DELHI. VS. CAPITAL & CONCEPTS ADVISORS PVT. LTD., 204, 3 RD FLOOR, KALYAN VIHAR, NEW DELHI. PAN : AABCC3689F (APPELLANT) (RESPONDENT) ASSESSEE BY : NONE DEPARTMENT BY : SHRI ANSHU PRAKASH, SR. DR DATE OF HEARING : 12.09.2017 DATE OF PRONOUNCEMENT : 13.09.2017 ORDER PER R.S. SYAL, VP: THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAIN ST THE ORDER PASSED BY THE CIT(A) ON 05.05.2016 IN RELATION TO T HE ASSESSMENT YEAR 2004-05. ITA NO.4273/DEL/2016 2 2. NONE ONE WAS PRESENT FOR THE ASSESSEE. WE FIND T HAT PURSUANT TO THE MANDATE OF SECTION 268A, THE CBDT H AS ISSUED CIRCULAR NO. 21 OF 2015 DATED 10.12.2015 WITH RETRO SPECTIVE EFFECT, REVISING THE MONETARY LIMIT TO RS.10,00,000 /- FOR NOT FILING APPEALS BEFORE THE TRIBUNAL. WE FURTHER FIN D THAT AS THE TAX EFFECT INVOLVED IN THE INSTANT APPEAL IS LESS T HAN RS.10,00,000/-, THE EXTANT APPEAL IS NOT MAINTAINAB LE. THE LD. D.R., ALTHOUGH SUPPORTED THE ORDER OF THE ASSESSING OFFICER, BUT COULD NOT CONTROVERT THE FACT THAT TAX EFFECT I NVOLVED IN THIS APPEAL IS LESS THAN RS.10,00,000/-. 3. FROM PARA 10 OF THE ABOVE CIRCULAR IT IS PALPABL E THAT THE INSTRUCTION IS APPLICABLE TO THE PENDING APPEALS AL SO WITH RETROSPECTIVE EFFECT AND THERE IS A CLEAR-CUT DIREC TION TO THE DEPARTMENT TO WITHDRAW OR NOT PRESS SUCH APPEALS FI LED BEFORE THE ITAT WHEREIN TAX EFFECT IS LESS THAN RS.10,00,0 00/-. GOING BY THE PRESCRIPTION OF THE AFORENOTED CIRCULAR, WE ARE OF THE VIEW THAT THE REVENUE SHOULD HAVE EITHER NOT FILED THE INSTANT ITA NO.4273/DEL/2016 3 APPEAL BEFORE THE TRIBUNAL OR WITHDRAWN THE SAME AS THE TAX EFFECT IN THIS APPEAL IS ADMITTEDLY LESS THAN THE P RESCRIBED LIMIT FOR NOT FILING THE APPEALS. EX CONSEQEUNTI WE DISMISS THE INSTANT APPEAL WITHOUT GOING INTO MERITS OF THE CAS E. 4. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 13.09.2017. SD/- SD/- [SUCHITRA KAMBLE] [R.S. SYAL] JUDICIAL MEMBER VICE PRESIDENT DATED, 13 TH SEPTEMBER, 2017. DK COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT AR, ITAT, NEW DELHI.