ACIT, New Delhi V. H.C. Aggarwal (HUF), New Delhi

ITA 489/DEL/2012

• Counselvise Citation: 48920114 RSA 2012
• Duration Of Justice: 3 year(s) 4 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-06-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 20-05-2015
• Assessment Year: 2002-2003
• Appeal Filed On: 31-01-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T VASANTHAN
• Assessee Lawyers: MOHIT PAREKH
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : C NEW DELHI BEFORE SHRI G.C. GUPTA, VICE PRESIDENT AND SHRI T.S. KAPOOR, ACCOUNTANT MEMBER ITA NO: 489/DEL/2012 AY : - 2002-03 ACIT, CIRCLE 25(1) VS. H.C. AGGARWAL (HUF ) NEW DELHI. FD-42, VISHAKA ENCLAVE, PITAMPURA, NEW DELHI 110 034 (PAN AAAH H4570G) (APPELLANT) (RESPONDENT) APPELLANT BY : SH. T. VASANTHAN, SR. DR RESPONDENT BY : SHRI MOHIT PAREKH, CA DATE OF HEARING :20.5.2015 DATE OF PRONOUNCEMENT : 02.0 6.2015 O R D E R PER G.C. GUPTA, VICE PRESIDENT THIS APPEAL BY THE REVENUE FOR THE ASSTT. YEAR 2002-03 IS DIRECTED AGAINST THE ORDER OF THE CIT(A). THE GROUND OF APPEAL OF THE RE VENUE IS AS UNDER:- (I) ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE CI T(A) ERRED IN DELETING THE ADDITION OF RS. 10,00,000/- MADE U/S 6 8 OF THE INCOME TAX ACT, 1961. 2. LD. COUNSEL FOR THE ASSESSEE AT THE OUTSET SUBMITT ED THAT THE TAX EFFECT ON THE DISPUTED ADDITION COMES TO LESS THAN 4 LACS, TH E MONETARY LIMIT BY THE CBDT FOR FILING APPEAL BEFORE THE TRIBUNAL AND THEREFORE THE PRESENT APPEAL OF THE REVENUE WAS NOT MAINTAINABLE. LD. DR SUBMITTED THAT AT THE TIME OF FILING OF APPEAL THE LIMIT OF TAX EFFECT WAS RS. 3 LACS AND THEREFORE THE APPE AL WAS RIGHTLY PREFERRED BY THE REVENUE. ITA NO. 489/DEL/2012 ACIT VS. H.C. AGGAR WAL (HUF) 2 3. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. WE FIND THAT THE DISPUTED TAX EFFECT IN THIS CASE COMES TO LESS THAN RS. 4 LACS, THE MONETARY LIMITS FILED BY THE DEPARTMENT FOR FILING THE APPEAL BEFORE THE TRIBUNA L. IT IS NOW WELL SETTLED THAT THE REVISED MONETARY LIMIT FOR MAINTAINABILITY OF APPEA L BEFORE THE TRIBUNAL SHALL BE APPLICABLE TO ALL THE PENDING APPEALS BEFORE THE TR IBUNAL. ACCORDINGLY, WE HOLD THAT THE PRESENT APPEAL PREFERRED BY THE REVENUE IS NOT MAINTAINABLE AND ACCORDINGLY IS DISMISSED IN LIMINE. 4. IN THE RESULT APPEAL FILED BY THE REVEN UE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 02.06.2015. SD/- SD/- (T.S. KAPOOR) (G.C. GUPTA) ACCOUNTANT MEMBER VICE PRESIDE NT DATED: 02.06.2015 *VEENA COPY OF THE ORDER FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR 6. GUARD FILE BY ORDER DY. REGISTRAR ITA NO. 489/DEL/2012 ACIT VS. H.C. AGGAR WAL (HUF) 3 SL. NO. DESCRIPTION DATE 1. DATE OF DICTATION BY THE AUTHOR 20.5.2015 2. DRAFT PLACED BEFORE THE DICTATING MEMBER 21.5.2015 3. DRAFT PLACED BEFORE THE SECOND MEMBER 4. DRAFT APPROVED BY THE SECOND MEMBER 5. DATE OF APPROVED ORDER COMES TO THE SR. PS 6. DATE OF PRONOUNCEMENT OF ORDER 7. DATE OF FILE SENT TO THE BENCH CLERK 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER