DCIT, CIR-5, KOLKATA, Kolkata V. M/s EIC Holdings Ltd., Kolkata

ITA 498/KOL/2014

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 9421 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 10 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-02-2017
• Appeal Filed By: Department
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 21-03-2014
• Court: TRIBUNAL
• Department Lawyers: SALLONG YADEN ADDITI ONAL
• Assessee Lawyers: M L RAWAT F
• Keywords: Tax effect

Judgement Text

I.T.A. NO. 498/KOL./2014 ASSESSMENT YEAR: 2010-2011 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA A BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER I.T.A. NO. 498/KOL/ 2014 ASSESSMENT YEAR: 2010-2011 DEPUTY COMMISSIONER OF INCOME TAX,................. .........................APPELLANT CIRCLE-5, KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 -VS.- M/S. EIC HOLDINGS LIMITED,......................... ...............................RESPONDENT TOBACCO HOUSE, 1, OLD COURT HOUSE CORNER, 4 TH FLOOR, KOLKATA-700 001 [PAN: AAACE 8089 N] APPEARANCES BY: SHRI SALLONG YADEN, ADDITIONAL CIT (D.R), FOR THE DEPARTMENT SHRI M.L. RAWAT, F.C.A., FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : JANUARY 24, 2017 DATE OF PRONOUNCING THE ORDER : FEBRUARY 03, 2017 O R D E R PER SHRI P.M. JAGTAP, A.M. .: THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-VI, KOLKATA DA TED 27.12.2013 FOR THE ASSESSMENT YEAR 2010-11. 2 AS POINTED OUT BY THE LD. COUNSEL FOR THE ASSESSE E AT THE OUTSET, THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE I S LESS THAN THE REVISED MONETARY LIMIT FIXED BY THE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10 TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE APP EAL BY THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION CLEARLY EVIDE NT FROM THE GROUNDS RAISED BY THE REVENUE IN THIS APPEAL IS NOT DISPUTE D EVEN BY THE LD. D.R. IN CIRCULAR NO. 21/2015 (SUPRA) ISSUED BY THE CBDT, THE MONETARY LIMIT FOR FILING THE APPEAL BY THE REVENUE BEFORE THE TRI BUNAL HAS BEEN I.T.A. NO. 498/KOL./2014 ASSESSMENT YEAR: 2010-2011 PAGE 2 OF 2 INCREASED TO RS.10,00,000/- AND AS CLARIFIED IN THE SAID CIRCULAR, THE SAID MONETARY LIMIT IS APPLICABLE RETROSPECTIVELY EVEN T O THE APPEALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED T HAT SUCH PENDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF RS.10,00, 000/- MAY BE WITHDRAWN/ NOT PRESSED. KEEPING IN VIEW THE INSTRUC TION GIVEN BY THE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10.12.2015, WH ICH IS SQUARELY APPLICABLE IN THE PRESENT CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WITHDRAWN/NOT PRESSED AND DISMIS SED ACCORDINGLY. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON FEBRUARY 03, 2017. SD/- SD/- (S.S. VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER ACCOUNTANT ME MBER KOLKATA, THE 3 RD DAY OF FEBRUARY, 2017 COPIES TO : (1) DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-5, KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 (2) M/S. EIC HOLDINGS LIMITED, TOBACCO HOUSE, 1, OLD COURT HOUSE CORNER, 4 TH FLOOR, KOLKATA-700 001 (3) COMMISSIONER OF INCOME TAX(APPEALS-VI, KOLKATA ; (4) COMMISSIONER OF INCOME TAX- , (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.