The ACIT, Corp Circle-291), Kochi-18, Kochi V. M/s.Prudent Technologies P. Ltd, Kochi

ITA 501/COCH/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 2243 (ITAT-COCHIN)
• Duration Of Justice: 11 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 04-09-2018
• Assessment Year: 2014-2015
• Appeal Filed On: 14-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A S BINDHU
• Assessee Lawyers: ANIL K NAYAR
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI CHANDRA POOJAR I, AM & SHRI GEORGE GEORGE K, JM ITA NO. 501 /COCH/201 7 : ASST.YEAR 201 4 - 201 5 THE ASST.COMMISSIONER OF INCOME - TAX CORP. CIRCLE 2(1) KOCHI. VS. M/S PRUDENT TECHNOLOGIES (P) LIMITED, KADAVANTHRA KOCHI 682 020. PAN : AACCP2198R . (APPELLANT) (RESPONDENT) CO NO. 21 /COCH/201 8 : ASST.YEAR 2014 - 2015 M/S PRUDENT TECHNOLOGIES (P) LIMITED, KADAVANTHRA KOCHI 682 020. VS. THE ASST.COMMISSIONER OF INCOME - TAX CORP. CIRCLE 2(1) KOCHI. ( CROSS OBJECTOR ) (RESPONDENT) REVENUE BY : S MT.A.S.BINDHU ASSESSEE BY : SRI. ANIL K.NAYAR DATE OF HEARING : 04 .0 9 .2018 DATE OF PRONOUNCEMENT : 04 .09 .2018 O R D E R PER GEORGE GEORGE K, JM THIS APPEAL AT THE INSTANCE OF THE REVENUE AND CROSS OBJECTION BY THE ASSESSEE , ARE DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME - TAX (APPEALS) - I, KOCHI, DATED 12.06.2017. THE RELEVANT ASSESSMENT YEAR IS 2014 - 2015 . ITA NO. 501 / COCH /201 7 CO NO.21/COCH.2018 . M/S. PRUDENT TECHNOLOGIES (P) LTD. 2 2. IT IS OBSERVED THAT THE TAX EFFECT IN THE APPEAL FILED BY THE REVENUE IS LESS THAN RS. 20 LAKHS AND THEREFORE THE CIRCULAR NO. 3/2018 DATED 11.07.2018 ISSUED BY THE CENTRAL BOARD OF DIRECT TAXES (CBDT) IN EXERCISE OF ITS POWER VESTED UNDER SEC. 268A(1) OF THE I.T. ACT COMES INTO PLAY, WHEREIN, THE MONETARY LIMIT FOR FILING THE APPEAL ( S ) BY THE REVENUE BEFORE THE ITAT AND VARIOUS HIGH COURTS AS WELL AS APEX COURT ARE REVISED WITH AN OBJECT OF REDUCING THE TAX LITIGATION. VIDE PARA 3 OF THE SAID CIRCULAR (SUPRA) , IT IS STATED THAT IN CASES WHERE THE TAX EFFECT IN THE APPEAL TO BE FILED BEFORE THE APPELLATE TRIBUNAL DOES NOT EXCEED RS. 20 LAKHS , APPEAL SHOULD NOT BE FILED. THUS , TAKING A NOTE OF CBDT CIRCULAR NO. 03/2018 DATED 11.07.2018 AND CONSIDERING THE FACT THAT THE TAX EFFECT IN THE INSTANT A PPEAL IS LESS THAN R S. 20 LAKHS, THE PRESENT APPEAL DESERVE S TO BE DISMISSED , AS NOT MAINTAINABLE. HOWEVER, WE MAKE IT CLEAR THAT THE ISSUE ( S ) RAISED IN THE INSTANT APPEAL IS LEFT OPEN TO BE EXAMINED IN THE APPROPRIATE PROCEEDINGS, IF ARISES, IN FUTURE. AT THE SAME TIME , WE ALSO M AKE IT CLEAR THAT IF THE APPEAL FALL IN ANY OF THE EXCEPTIONS REFERRED TO IN THE ABOVE SAID CBDT CIRCULAR, THE REVENUE IS AT LIBERTY TO MOVE AN APPLICATION FOR RECALLING THE ORDER, IF SO, ADVISED. 3. ACCORDINGLY IN THE LIGHT OF C BDT CIRCULAR NO. 03/2018 DATED 11.07.2018, THE APPEAL STAND S DISMISSED. 4. THE CROSS OBJECTION FILED BY THE ASSESSEE IS SUPPORTIVE OF THE ORDER OF THE CIT(A), IS DISMISSED AS INFRUCTUOUS. ITA NO. 501 / COCH /201 7 CO NO.21/COCH.2018 . M/S. PRUDENT TECHNOLOGIES (P) LTD. 3 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE AND THE CROSS O BJECTION FILED BY THE ASSESSEE, ARE DISMISSED. ORDER PRONOUNCED ON THIS 04 TH DAY OF SEPTEMBER , 2018 . SD/ - SD/ - ( CHANDRA POOJARI ) ( GEORGE GEORGE K ) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN ; DATED : 04 TH SEPTEMBER , 2018 . DEVDAS* COPY OF THE ORDER FORWARDED TO : BY ORDER, (ASSTT. REGISTRAR) ITAT, COCHIN 1. THE APPELLANT 2. THE RESPONDENT. 3. THE PR.CIT, KOCHI. 4. THE CIT(APPEALS) - I , KOCHI. 5. DR, ITAT, COCHIN 6 . GUARD FILE.