M/s. ITO, New Delhi V. M/s. Marshall Castings Pvt. Ltd., New Delhi

ITA 4899/DEL/2009

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 58906 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 2 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-03-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 22-03-2012
• Assessment Year: 2001-2002
• Appeal Filed On: 30-12-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R S NEGI
• Keywords: Unexplained cash credit; Tax effect
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : E : NEW DELHI BEFORE SHRI I.P. BANSAL, JUDICIAL MEMBER AND SHRI K.G. BANSAL, ACCOUNTANT MEMBER ITA NO.4899/DEL/2009 ASSESSMENT YEAR : 2001-02 ITO, WARD 6 (2), ROOM NO.185, CR BUILDING, NEW DELHI. VS. MARSHALL CASTINGS PVT. LTD., 1568 A, SACHDEVA PLACE BUILDING, M-113, BHAGIRATH PLACE, CHANDNI CHOWK, NEW DELHI. PAN : AAACM6370Q (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI MANPREET SINGH KAPOOR, CA REVENUE BY : SHRI R.S. NEGI, SR.DR ORDER PER I.P. BANSAL, JUDICIAL MEMBER THIS IS AN APPEAL FILED BY THE REVENUE. IT IS DIRECT ED AGAINST THE ORDER PASSED BY THE CIT (A) DATED 14 TH OCTOBER, 2009 FOR ASSESSMENT YEAR 2001-02. GROUNDS OF APPEAL READ AS UNDER:- 1. THE ORDER OF THE LEARNED CIT (A) IS ERRONEOUS & CONTRARY TO FACTS & LAW. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN L AW THE LD. CIT (A) HAS DELETING THE ADDITION OF RS.5,40,60 0/- MADE BY THE A.O. U/S 68 BEING THE UNEXPLAINED CASH CREDITS. 2.1 THE LD. CIT (A) IGNORED THE FACT THAT THE ASSESSEE DID NOT DISCHARGE THE ONUS OF PROVING THE CREDIT WORTHINESS OF THE CREDITORS AND GENUINENESS OF THE TRANSACTIONS. 2.2 THE LD. CIT (A) HAS ACCEPTED THE ADDITIONAL EVIDE NCE UNDER RULE 46A OF THE IT RULES WITHOUT PROVIDING OPPORTUNITY TO THE A.O. ITA NO.4899/DEL/2009 2 OPPORTUNITY TO THE A.O. 3. THE APPELLANT CRAVES LEAVE TO ADD, TO ALTER OR AMEN D ANY GROUNDS OF THE APPEAL RAISED ABOVE AT THE TIME OF HEARING.. 2. AT THE OUTSET, IT WAS POINTED OUT BY THE LEARNED A R THAT THE TAX EFFECT IN THE PRESENT CASE IS LESS THAN ` 3 LAC. HE HAS PRODUCED BEFORE US THE DEMAND NOTICE ACCORDING TO WHICH THE TOTAL TA X HAS BEEN COMPUTED AT ` 2,12,781/-. THE LEARNED DR COULD NOT CONTROVERT THE QUANTUM OF TAX EFFECT. ACCORDING TO THE RECENT INSTR UCTION NO.3/2011 OF 9 TH FEBRUARY, 2011 ISSUED BY THE CBDT, MONETARY LIMIT FO R FILING THE APPEAL IN INCOME-TAX MATTERS BEFORE THE TRIBUNAL HAS BEEN FIXED AT ` 3 LAC. THESE INSTRUCTIONS HAVE BEEN HELD TO BE APPLICAB LE TO ALL PENDING APPEALS BY THE JURISDICTIONAL HIGH COURT IN THE DECISI ONS IN THE CASES: (I) CIT VS. M/S P.S. JAIN & CO. IN ITA NO.179/1991, O RDER DATED 2 ND AUGUST, 2010. (II) CIT VS. DELHI RACE CLUB IN ITA NO.128/2008 , OR DER DATED 3 RD MARCH, 2011. 3. IN THIS VIEW OF THE SITUATION, THE TAX EFFECT OF T HE APPEAL FILED BY THE REVENUE BEING BELOW THE MONETARY LIMIT FIXED BY THE AFOREMENTIONED CIRCULAR, THE APPEAL IS UNADMITTED AN D IS DISMISSED IN LIMINE. 4. IN THE RESULT, THE APPEAL FILED BY THE DEPARTMENT IS DISMISSED. THE ORDER PRONOUNCED IN THE OPEN COURT ON 22.03.20 12. SD- SD/- [K.G. BANSAL] [I.P. BANSAL] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED, 23.03.2011. ITA NO.4899/DEL/2009 3 DK COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT TRUE COPY BY ORDER, DEPUTY REGISTRAR, ITAT, DELHI BENCHES