INCOME TAX OFFICER WARD-4, V. M/S SONALEE TRADERS, Amaravati

ITA 470/NAG/2014

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 1556 (ITAT-NAGPUR)
• Duration Of Justice: 1 year(s) 1 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 14-11-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: R B ATAL
• Keywords: Tax effect
• Section: 143(3); 147

Judgement Text

1 ITA NO. 470/NAG/2014 IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR BEFORE SHRI MUKUL K. SHRAWAT, JUDICIAL MEMBER. (S.M.C.) I.T.A. NO.470/NAG/2014 ASSESSMENT YEAR : 2007 - 08. THE INCOME - TAX OFFICER, M/S SONALI TRADERS, WARD - 4, AMRAVATI. VS. AMRAVATI. PAN AADFS2329H APPELLANT. RESPONDENT. APPELLANT BY : SHRI P.R. MANE. RESPONDENT BY : SHRI R.B.ATAL. DATE OF HEARING : 14 - 12 - 2015 DATE OF PRONOUNCEMENT : 18 TH DEC., 2015 O R D E R THIS IS AN APPEAL FILED BY THE ASSESSEE ARISING OUT OF THE ORDER OF LEARNED CIT(APPEALS) - II, NA GPUR DATED 08 - 08 - 2014. THE GROUND RAISED BY THE REVENUE IS REPRODUCED BELOW : ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LEARNED CIT(A) - II, NAGPUR HAS ERRED IN CONSIDERING THE RE - OPENING OF CASE NOT ACCORDANCE WITH THE PROVISIONS OF SECTION 147 OF THE I.T. ACT. 2. AT THE OUTSET I HAV E BEEN INFORMED THAT THE C.B.D.T. HAS ISSUED A CIRCULAR ON 10 TH OF DECEMBER, 2015 BEARING NO. 21/2015 (F. NO. 279/MI SC. 142/2007 - ITJ(PT)) WHEREIN THE MONETARY LIMIT OF TAX EFFECT IS FIXED AS UNDER : HENCEFORTH, APPEALS/SLPS SHALL NOT BE FILED IN CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE MONETARY LIMITS GIVEN HEREUNDER: - 2 ITA NO. 470/NAG/2014 S.NO. APPEALS IN INCOME - TAX MATTES MONETAR Y LIMIT (IN RS.) 1. BEFORE APPELLATE TRIBUNAL 10,00,000/ - 2. BEFORE HIGH COURT 20,00,000/ - 3. BEFORE SUPREME COURT 25,00,000/ - IT IS CLARIFIED THAT AN APPEAL SHOULD NOT BE FILED MERELY BECAUSE THE TAX EFFECT IN A CASE EXCEEDS THE MONETARY LIMITS PRESCRIBED ABOVE. FILING OF APPEAL IN SUCH CASES IS TO BE DECIDED ON MERITS OF THE CASE. 3. VIDE CLAUSE NO. 10, THE CBDT HAS ALSO MENTIONED THAT THE SAID LIMIT IS APPLICABLE TO A LL PENDING APPEALS, REPRODUCED BELOW : 10. THE INSTRUCTIONS WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO BE FILED HENCEFORTH IN HIGH COURTS/TRIBUNALS, PENDING APPEALS BELOW THE SPECIFIED TAX LIMITS IN PARA 3 ABOVE MAY BE WITHDRAWN/NOT PRESSED. APPEALS BEFORE THE SUPREME COURT WILL BE GOVERNED BY THE INSTRUCTIONS ON THIS SUBJECT, OPERATIVE AT HE TIME WHEN SUCH APPEAL WAS FILED. 4. ADMITTEDLY FACTUAL POSITION IN THE PRESENT APPEAL IS THAT VIDE AN ORDER PASSED U/S 143(3) READ WITH SECTION 147 DATED 15 - 03 - 2013 THE INCOME WAS ASSESSED AT RS.13,25,870/ - AND THE TAX THEREUPON DEMANDED WAS AT R S.7,67,620/ . ON ACCOUNT OF THE ABOVE CBDT CIRCULAR, THIS APPEAL OF THE REVENUE DEPARTMENT DESERVES TO BE DISMISSED IN LIMINE. I HOLD ACCORDINGLY. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 18 TH DAY OF DEC., 2015. SD/ - (MUKUL K. SHRAWAT) JUDICIAL MEMBER NAGPUR, DATED: 18 TH DEC., 2015. 3 ITA NO. 470/NAG/2014 COPY FORWARDED TO : 1. SONALI TRADERS, 1 ST FLOOR, SATIDHAM MARKET JAWAHAR ROAD, AMRAVATI. 2. I.T.O., WARD - 4, AMRAVATI. 3. C.I.T. , NAGPUR. 4. CIT(APPEALS) - II, NAGPUR. 5. D.R., ITAT, NAGPUR. 6. GUARD FILE TRUE COPY BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR.