A.C.I.T.,Circle-47, Kolkata V. Sunita Jalan, Howrah

ITA 45/KOL/2020

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 5647 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 3 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-05-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 04-05-2021
• Assessment Year: 2015-2016
• Appeal Filed On: 10-01-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect; Bogus

Judgement Text

ITA NO. 45/KOL/2020 ASS ESSMENT YEAR: 2015-2016 SUNI TA JALAN 1 IN THE INCOME TAX APPELLATE TRIBUNAL, B(SMC) BENCH, KOLKATA [VIRTUAL COURT HEARING] BEFORE SHRI P.M. JAGTAP, VICE-PRESIDENT I.T.A. NO. 45/KOL/2020 ASSESSMENT YEAR: 2015-2016 ASSISTANT COMMISSIONER OF INCOME TAX,.............. ....................... APPELLANT CIRCLE-47, KOLKATA, 3, GOVERNMENT PLACE (WEST), KOLKATA-700001 -VS.- SUNITA JALAN,...................................... .......................................... RESPONDE NT 5 TH FLOOR, HOWRAH AC MARKET, 47, DOBSON ROAD, HOWRAH-711101 [PAN: ACRPJ7136P] APPEARANCES BY: SHRI JAYANTA KHANRA, JCIT, SR. D.R., APPEARED ON BE HALF OF THE REVENUE N O N E, APPEARED ON BEHALF OF THE ASSESSEE DATE OF CONCLUDING THE HEARING : MAY 04, 2021 DATE OF PRONOUNCING THE ORDER : MAY 04, 2021 O R D E R THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-14, KOLKATA DA TED 26.02.2019 AND THE SOLITARY ISSUE INVOLVED THEREIN RELATES TO THE DELETION BY THE LD. CIT(APPEALS) OF THE ADDITION OF RS.13,54,500/- MADE BY THE ASSESSING OFFICER ON ACCOUNT OF BOGUS LTCG CLAIM ON PENNY STO CK . 2. AT THE TIME OF HEARING FIXING IN THIS CASE TODAY , NONE HAS APPEARED ON BEHALF OF THE ASSESSEE. AT THE OUTSET, IT IS NOT ICED FROM THE GROUNDS RAISED BY THE REVENUE IN THIS APPEAL THAT THE TAX E FFECT INVOLVED IN THIS APPEAL IS LESS THAN THE MONETARY LIMIT OF RS.50,00, 000/- FIXED BY THE C.B.D.T. FOR FILING THE APPEAL BY THE REVENUE BEFOR E THE TRIBUNAL. THE LD. ITA NO. 45/KOL/2020 ASS ESSMENT YEAR: 2015-2016 SUNI TA JALAN 2 D.R. HAS NOT RAISED ANY OBJECTION IN THIS REGARD. I N THE CIRCULAR NO. 17/2019 DATED 8 TH AUGUST, 2019 ISSUED BY THE C.B.D.T., THE MONETARY LIMIT FOR FILING THE APPEAL BY REVENUE BEFORE THE TRIBUNA L IS REVISED TO RS.50,00,000/-. AS FURTHER CLARIFIED IN THE SAID CI RCULAR, THE MONETARY LIMIT SO REVISED IS APPLICABLE EVEN TO THE PENDING APPEALS AND THE SAME ARE DIRECTED TO BE WITHDRAWN OR NOT PRESSED. I ACCO RDINGLY TREAT THIS APPEAL AS WITHDRAWN /NOT PRESSED ON ACCOUNT OF LOW TAX EFFECT IN VIEW OF THE CBDT CIRCULAR NO.17/2019 DATED 8 TH AUGUST, 2019 AND DISMISS THE SAME. 3. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON MAY 04, 2021. SD/- (P.M. JAGTAP) VICE-PRESIDE NT KOLKATA, THE 4 TH DAY OF MAY, 2021 COPIES TO : (1) ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-47, KOLKATA, 3, GOVERNMENT PLACE (WEST), KOLKATA-700001 (2) SUNITA JALAN, 5 TH FLOOR, HOWRAH AC MARKET, 47, DOBSON ROAD, HOWRAH-711101 (3) COMMISSIONER OF INCOME TAX (APPEALS)-14, KOLKA TA; (4) COMMISSIONER OF INCOME TAX- , (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.