ITO, New Delhi V. M/s. Balaji Motors Pvt. Ltd., New Delhi

ITA 4995/DEL/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 7931 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 8 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-05-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 31-03-2016
• Assessment Year: 2000-2001
• Appeal Filed On: 29-08-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K K JAISWAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: A NEW DELHI BEFORE SMT DIVA SINGH, JUDICIAL MEMBER AND SH.PRASHANT MAHARISHI, ACCOUNTANT MEMBER I.T.A .NO.-4995/DEL/201 3 & 137/DEL/2014 (ASSESSMENT YEAR-2000- 01 & 2001-02) ITO, WARD-2(3), ROOM NO.-389A, C.R. BUILDING, I.P.ESTATE, NEW DELHI. (APPELLANT) VS BALAJI MOTORS PVT.LTD., 306-NILGIRI APARTMENTS, 9-BARAKHAMBA ROAD, NEW DELHI. PAN-AACCB0887F (RESPONDENT) APPELLANT BY SH.K.K.JAISWAL, DR RESPONDENT BY SH. RAJA KUMAR, ADV. ORDER PER DIVA SINGH, JM BOTH THESE APPEALS HAVE BEEN FILED BY THE REVENUE A SSAILING THE CORRECTNESS OF THE ORDER DATED 07.06.2013 OF CIT(A)-V, NEW DELH I PERTAINING TO 2000-01 & 2001-02 ASSESSMENT YEARS. 2. LD. AR INVITING ATTENTION TO THE IDENTICAL GROUN DS RAISED IN BOTH THE APPEALS SUBMITTED THAT WHEREAS IN 2000-01 ASSESSMENT YEAR, THE REVENUE IS AGGRIEVED BY THE RELIEF GRANTED BY THE CIT(A) AMOUNTING TO RS.12 ,16,284/-; IN 2001-02 ASSESSMENT YEAR THE RELIEF CHALLENGED IS AMOUNTING TO RS.29,40,142/-. WHEREAS IN 2000-01 AY ADMITTEDLY THE TAX EFFECT IS MUCH BEL OW RS.10 LACS FOR WHICH NO CALCULATIONS ARE REQUIRED. HOWEVER, EVEN FOR 2001- 02, THE AMOUNT IS BELOW THE TAX EFFECT LIMIT. REFERRING TO THE COMPUTATION FILED I T WAS SUBMITTED THAT AFTER TAKING INTO CONSIDERATION THE TAX AND SURCHARGE THEREON TH E TAX EFFECT FOR 2001-02 DATE OF HEARING 31.03.2016 DATE OF PRONOUNCEMENT 12.05.2016 I.T.A .NO.-4995/DEL/201 3 & 137/DEL/2014 PAGE 2 OF 3 ASSESSMENT YEAR WOULD WORKED OUT TO RS.9,55,633/-. THE FOLLOWING CALCULATION WAS PLACED ON RECORD:- TOTAL AMOUNT IN CONTEST RS.29,40,412/- TAX @ 30% RS.8,82,123/- SURCHARGE @ 2.5% RS.73,510/- TOTAL TAXES RS.9,55,633/- 3. CONSIDERING THE MATERIAL AVAILABLE ON RECORD AND THE CALCULATION PROVIDED, THE LD. SR. DR DID NOT DISPUTE THE SAME. 4. WE HAVE HEARD THE SUBMISSIONS OF THE PARTIES ON THIS ISSUE AND PERUSED THE MATERIAL ON RECORD. WE FIND THAT THE CBDT VIDE THE AFORESAID CIRCULAR DATED 10.12.2015 HAS REVISED THE MONETARY LIMIT TO RS.10 LAKH FOR FILING THE APPEALS BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TRIBUNAL . PARA 3 OF THE AFORESAID CIRCULAR HAS BEEN MADE APPLICABLE VIDE PARA 10 RETR OSPECTIVELY. CONSIDERING THE SETTLED LEGAL PRECEDENT THAT THE BOARDS INSTRUCTIO NS OR DIRECTIONS ISSUED TO THE INCOME TAX AUTHORITIES U/S 268A OF THE INCOME TAX A CT, 1961 ARE BINDING ON THE AUTHORITIES, WE DISMISS THE DEPARTMENTAL APPEALS CO NSIDERING THE MATERIAL AVAILABLE ON RECORD. 5. IN THE RESULT, THE APPEALS OF THE REVENUE ARE DI SMISSED. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 12 M AY, 2016. SD/- SD/- (PRASHANT MAHARISHI) (DIVA SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 12/05/2016 *AMIT KUMAR* I.T.A .NO.-4995/DEL/201 3 & 137/DEL/2014 PAGE 3 OF 3 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSI STANT REGISTRAR ITAT NEW DELHI