Assistant Commissioner of Income-Tax -1(2), RAIPUR (CG) V. Bajrang Metallics And Power Limited, RAIPUR

ITA 45/BIL/2011

• Counselvise Citation: 4524714 RSA 2011
• Duration Of Justice: 3 year(s) 10 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2005-2006
• Appeal Filed On: 14-02-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D K JAIN
• Assessee Lawyers: P C JAIN MALOO
• Keywords: Tax effect

Judgement Text

INCOME TAX APPELLATE TRIBUNAL,BENCH -RAIPUR . . , , . . BEFORE S/SH.H.L.KARWA,PRESI DENT AND RAJENDRA,ACCOUNTANT MEMBER /.ITA NO.45/BLPR/2012 / ASSESSMENT YEAR -2006-07 ASSTT. COMMISSIONER OF INCOME-TAX-1(2), RAIPUR. V/S. BAJRANG METALICS & POWER LTD.,2/3,GONDWARA, SARORA INDUSTRIAL AREA, RAIPUR. PAN: AAGCS 0132A ( % / APPELLANT ) ( &'% / RESPONDENT ) REVENUE BY : SH.D.K. JAIN, SR. D.R. ASSESSEE BY : SH. P.C. JAIN MALOO, C.A. ) /DATE OF HEARING : 22-122014 ) /DATE OF PRONOUNCEMENT : 22 -12-2014 ,1961 ) )) ) 254 )1( ORDER U/S.254(1)OF THE INCOME-TAX ACT,1961(ACT) PER RAJENDRA,AM - 0 0 0 0 , : CHALLENGING THE ORDER DT.29.11.2010 OF THE CIT(A),R AIPUR,ASSESSING OFFICER(AO)HAS RAISED FOLLOWING GROUNDS OF APPEAL: 1. WHETHER IN LAW AND ON FACTS & CIRCUMSTANCES OF THE CASE, THE CIT(A) WAS JUSTIFIED IN DELETING THE ADDITION OF RS.10,00,000/- MADE BY THE AO TOWARDS TRADING RESULTS. 2. WHETHER THE ORDER OF LD. CIT(A) IS ERRONEOUS BOTH I N LAW AND ON FACTS. 2. AT THE TIME OF HEARING BEFORE US,THE AUTHORISED REP RESENTATIVE OF THE ASSESSEE STATED THAT TAX EFFECT INVOLVED IN THE APPEAL WAS LESS THAN THE PRESCRIBED LIMIT MANDATED BY THE CBDT INSTRUCTION 09. 02.2011,THAT THE APPEAL WAS FILED O N 14.02.2011,THAT THE TAX INVOLVED IN THE MATTER WAS 3 LAKHS,THAT THE HONBLE JURISDICTIONAL HIGH COURT HAS IN THE CASES OF HIRA STEEL LTD.(ITA NO.10 OF 2006)HELD THAT THE APPEALS WHICH HAD TAX EFFECT NOT MORE THAN THE PRESCRIBED LIMIT IS TO BE DISMISSED WITHOUT GOING I N TO MERIT.DEPARTMENT LEFT THE MATTER TO THE DISCRETION OF THE BENCH. 3. WE HAVE PERUSED THE MATERIAL ON RECORD.WE FIND THAT THE CBDT VIDE ITS INSTRUCTION NO.3/2011 OF 09.02.2011 HAD REVISED THE LIMITS FOR FILING SECOND APPEALS,THAT AS PER THE INSTRUCTION FORM FEBRUARY 9 TH ,2011 APPEALS COULD BE FILED ONLY IN THOSE MATTERS WHERE TAX EFFECT WAS MORE THAN RS.3 LAKHS.CONSIDERING THE TAX EFFECT INVOLVED IN THE MATTER BEFORE US, WE ARE DISMISSING THE APPEAL FILED BY THE AO BECAUS E OF LOW TAX EFFECT. AS A RESULT, APPEAL FILED BY THE AO STAN DS DISMISSED 1 1 - 3 4 ) . ORDER PRONOUNCED IN THE OPEN COURT ON 22 DECEMBER,2014. ) 8 22, 9 ,2014 ) . SD/- SD/- (H.L.KARWA/ . . ) ( / RAJENDRA) PRESIDENT/ 0 0 0 0 /ACCOUNTANT MEMBER /RAIPUR. 9 DATE: 22.12.2014 ) )) ) &:; &:; &:; &:; <; <; <; <; / COPY OF THE ORDER FORWARDED TO : 1. APPELLANT / % 2. RESPONDENT / &'% 3. THE CONCERNED CIT(A)/ = > , 4. THE CONCERNED CIT / = > 5. DR ITAT,RAIPUR BENCH/ ; & , . . ., 6. GUARD FILE/ . '; & //TRUE COPY// / BY ORDER, / DY./ASST. REGISTRAR , /ITAT, RAIPUR