DCIT, New Delhi V. Sh. Shiv Priya, Noida

ITA 4837/DEL/2014

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 6288 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 6 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-03-2017
• Appeal Filed By: Department
• Bench Allotted: G
• Next Hearing Date: 27-03-2017
• Assessment Year: 2007-2008
• Appeal Filed On: 04-09-2014
• Court: TRIBUNAL
• Department Lawyers: S S RANA
• Assessee Lawyers: AMIT GOEL
• Keywords: Deemed dividend; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ES , G NEW DELHI BEFORE SHRI BHAVNESH SAINI , JUDICIAL MEMBER AND SHRI. A N MISHRA , ACCOUNTANT MEMBER ITA N O. 4837 / DEL /201 4 A SSESSMENT YEAR: 2007 - 08 DCIT CENTRAL CIRCLE - 7 NEW DELHI VS. SHIV PRIYA C - 56/40, SECTOR - 62 , NOIDA PAN:AGDPS2265G (APPELLANT) (RESPONDENT) CO NO. 156/DEL/2015 ASSESSMENT YEAR: 2007 - 08 SHIV PRIYA C - 56/40, SECTOR - 62 , NOIDA PAN: AGDPS2265G VS. DCIT CENTRAL CIRCLE - 7 NEW DELHI (APPELLANT) (RESPONDENT) ASSESSEE BY SH. AMIT GOEL , CA REVENUE BY SH. S.S. RANA , SR. DR DATE OF HEARING 31 .03.2017 DATEOF PRONOUNCEMENT 31 .03.2017 O R D E R PER BHAVNESH SAINI, J .M . : THE DEPARTMENTAL APPEAL AS WELL AS THE CRO SS OBJECTION BY THE ASSESSEE ARE DIRECTED AGAINST THE ORDER OF LEARNED CIT(A) - I, NEW DELHI DATED 18 TH JUNE, 2014 FOR AY 2007 - 08 . 2 ITA NO. 4837 /DEL/ 201 4 WITH CO NO . 156 / DEL /201 5 2. IN THE DEPARTMENTAL APPEAL, REVENUE CHALLENGED THE DELETION OF ADDITION OF RS. 33,30,000/ - ON ACCOUNT OF DEEMED DIVIDEND U/S 2(22) (E) OF THE INCOME TAX ACT. 3. ADMITTEDLY, THE TAX EFFECT IN THE DEPARTMENTAL APPEAL IS BELOW RS. 10,00,000/ - . ACCORDING TO THE BOARD CIRCULAR NO. 21/15 DATED 10 TH DECEMBER, 2015, THE APPEAL OF THE DEPARTMENT WOULD NOT BE MAINTAINABLE BEFORE THE TRIB UNAL IN CASE THE TAX EFFECT IN THE D EPARTMENTAL APPEAL WOULD NOT EXCEED RS. 10,00,000/ - . IN VIEW OF THE ABOVE CIRCULAR, LEARNED DR SUBMITTED THAT HE WOULD NOT BE PRESSING THE DEPARTMENTAL APPEAL. THE DEPARTMENTAL APPEAL WOULD NOT FALL IN EXCEPTIONS PROVIDE D IN THE ABOVE CIRCULAR. THE CIRCULAR APPLIES TO PENDING DEPT. APPEALS AS WELL. 4. IN VIEW OF THE ABOVE, THE DEPARTMENTAL APPEAL IS NOT MAINTAINABLE AND DISMISSED AS IS FILED AGAINST THE BOARD CIRCULAR. 5. LEARNED COUNSEL FOR THE ALSO SEEKS PERMISSION TO WITHDRAW THE CROSS OBJECTION. HE HAS MADE ENDORSEMENT TO THAT EFFECT IN THE CROSS OBJECTION ITSELF. CROSS OBJECTION OF THE ASSESSEE IS THEREFORE DISMISSED AS WITHDRAWN. 6. IN THE RESULT, THE DEPARTMENTAL APPEAL AS WELL AS CROSS OBJECTION ARE DISMISSED . OR DER PRONOUNCED IN THE OPEN COURT ON THE 29 TH DAY OF MARCH , 201 7 . SD/ - SD/ - ( A N MISHRA ) (BHAVNESH SAINI ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 31 - 03 - 201 7 . SH 3 ITA NO. 4837 /DEL/ 201 4 WITH CO NO . 156 / DEL /201 5 COPY OF O RDER TO : - 1 ) THE APPELLANT; 2 ) THE RESPONDENT; 3 ) THE CIT ; 4 ) THE CIT(A) - , NEW DELHI ; 5 ) THE DR, I.T.A.T., NEW DELHI ; BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT , NEW DELHI 4 ITA NO. 4837 /DEL/ 201 4 WITH CO NO . 156 / DEL /201 5 S.NO. DETAILS DATE INITIALS DESIGNATION 1 DRAFT DICTATED ON SR. PS/PS 2 DRAFT P LACED BEFORE AUTHOR SR. PS/PS 3 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM/AM 5 APPROVED DRAFT COMES TO THE SR. PS/PS SR. PS/PS 6 KEPT FOR PRONOUNCEMENT ON SR. PS/PS 7 FILE SENT TO BENCH CLERK SR. PS/PS 8 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK 9 DATE ON WHICH FILE GOES TO THE A.R. 10 DATE OF DISPATCH OF ORDER