ITO, New Delhi V. M/s. SI Viridian (I) Management Pvt. Ltd., New Delhi

ITA 4627/DEL/2014

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 6628 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 10 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2011-2012
• Appeal Filed On: 22-08-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K TEWARI
• Assessee Lawyers: VIVEK AGGARWAL
• Keywords: Depreciation; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH G NEW DELHI BEFORE SHRI G.D. AGRAWAL, HONBLE PRESIDEN T AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA NO. 4627/DEL/2014 AY: 20 11-12 INCOME TAX OFFICER, VS M/S SI VIRIDIAN (I) MANAGEMENT PVT. LTD., WARD 8(4), C/O M/S VIVEK AARUSHI & ASSOCIATES, G -40, NEW DELHI. NIZAMUDDIN WEST, NEW DELHI-110013 (PAN: AACCT3674J) (APPELLANT) (RESPONDENT) DEPARTMENT BY : SHRI K. TEWARI, SR. DR ASSESSEE BY : SHRI VIVEK AGGARWAL, CA DATE OF HEARING: 19.07.2018 DATE OF PRONOUNCEMENT: 19.07.2018 ORDER PER SUDHANSHU SRIVASTAVA, J.M. THE APPEAL FILED BY THE REVENUE IS DIRECTED AGAINS T THE ORDER PASSED BY THE LD. CIT(A)-XI, NEW DELHI DATED 23.06. 2014 FOR A.Y. 2011-12. 1.2 AT THE OUTSET, IT WAS SUBMITTED BY THE LD. AR THAT THE TAX EFFECT IN THE PRESENT APPEAL IS LESS THAN RS.20 LAC S AS THE ISSUE INVOLVED IS ONLY DISALLOWANCE OF DEPRECIATION OF RS .59,13,821/-. THE CALCULATION OF TAX EFFECT SUBMITTED BY THE LD. AR IS AS UNDER:- ITA NO. 4627/DEL/2014 ASSESSMENT YEAR 2011-12 2 TOTAL ADDITION : RS. 59,13,821/- TAX (@30%) : RS. 18,92,423/- EDUCATION & HIGHER : RS. 56,773/- EDUCATION CESS TOTAL TAX EFFECT : RS. 19,49,196/- 1.3 IN TERMS OF CBDT CIRCULAR NO. 21/2015 DATED 10 TH DECEMBER, 2015, F. NO. 279/MISC./142/2007-ITJ(PT.) READ WITH SECTION 268 A OF THE INCOME TAX ACT, 1961, THIS APP EAL BY THE REVENUE SHOULD HAVE BEEN WITHDRAWN OR SHOULD NOT HA VE BEEN PRESSED BY THE REVENUE. 2. IN VIEW OF THE ABOVE, THIS APPEAL BY THE REVENUE IS DISMISSED IN LIMINE. ORDER PRONOUNCED IN THE OPEN COURT ON 19 TH JULY, 2018. SD/- SD/- (G.D. AGRAWAL) (SUDHANSHU SRIVASTAVA) PRESIDENT JUDICIAL MEMBER DATED: 19 TH JULY, 2018 GS ITA NO. 4627/DEL/2014 ASSESSMENT YEAR 2011-12 3 COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT BY ORDER ASSTT. REGISTRAR DATE OF DICTATION DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.PS /PS DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.P S/PS DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WE BSITE OF ITAT DATE ON WHICH THE FILE GOES TO THE BENCH CLERK DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER 1