ACIT, CHENNAI V. M/s. Shree Shakthi Ware House (P) Ltd., CHENNAI

ITA 504/CHNY/2011

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 52165 (ITAT-CHENNAI)
• Duration Of Justice: 8 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-12-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 12-12-2011
• Assessment Year: 2002-2003
• Appeal Filed On: 17-03-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R B NAIK
• Assessee Lawyers: M KARUNAKARAN
• Keywords: Tax effect
• Section: 2; 11

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL CHENNAI B BENCH, CHENNAI. BEFORE SHRI HARI OM MARATHA, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER I.T.A. NOS. 503 AND 504/MDS/2011 ASSESSMENT YEAR: 2001-02 AND 2002-03 THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE VI(2), AAYAKAR BHAVAN, NEW BLOCK, CHENNAI 600 034. VS. M/S. SHREE SHAKTHI WARE HOUSE (P) LTD., 2-C, RIAZ GARDEN, 29, KODAMBAKKAM HIGH ROAD, NUNGAMBAKKAM, CHENNAI 600 034. [PAN:AACCS9723M] (APPELLANT) (RESPONDENT) REVENUE BY : SHRI R.B. NAIK, CIT DR ASSESSEE BY : SHRI M. KARUNAKARAN, ADVOCATE DATE OF HEARING : 12 . 12 .2011 DATE OF PRONOUNCEMENT 12.12.2011 ORDER PER BENCH THESE ARE THE APPEALS FILED BY THE REVENUE AGAINST THE SEPARATE ORDERS DATED 03.01.2011 FOR THE ASSESSMENT YEARS 20 01-02 AND 2002-03 OF LD. CIT(A) V, CHENNAI. 2. IN APPEAL FOR THE ASSESSMENT YEAR 2001-02, THE REVENUE ASSAILS DELETION OF ADDITIONS OF ` .3,60,000/- AND ` .1,56,388/- MADE BY THE LD. CIT(A). DURING THE COURSE OF HEARING, IT WAS ADMITTED BY TH E LD. DR THAT THE TAX EFFECT IN THIS CASE WAS LESS THAN ` .3 LAKHS. 3. SIMILARLY, FOR THE ASSESSMENT YEAR 2002-03, THE REVENUE HAS ASSAILED THE DELETION OF ` .5,11,494/-. THE TAX EFFECT HERE IS ALSO LESS THAN ` .3 LAKHS AND EVEN BELOW ` .2 LAKHS. I.T.A. I.T.A. I.T.A. I.T.A. NO NONO NOS SS S. .. .503 & 504 503 & 504 503 & 504 503 & 504/ // /MDS/ MDS/ MDS/ MDS/11 1111 11 2 4. IN SO FAR AS THE ASSESSMENT YEAR 2001-02, THE T OTAL ASSESSED INCOME WAS ONLY ` .2,36,765/- AND TOTAL TAX THEREON WAS ` .93,641/- ONLY. 5. ON BOTH THE YEARS, WE ARE OF THE OPINION THAT C IRCULAR NO.3/2011 OF CBDT WILL APPLY AND DUE TO LOW TAX EFFECT, THE APPE ALS OF THE REVENUE ARE NOT MAINTAINABLE. THERE IS NO CASE FOR THE REVENUE THAT THE ISSUE INVOLVED HAS GOT ANY CASCADING EFFECT OVER OTHER YEARS OR ON THE ASSESSMENTS OF ANY GROUP OF WHICH ASSESSEE IS A PART. 6. IN THE RESULT, BOTH THE APPEALS OF THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 12.12.2011. SD/- SD/- (HARI OM MARATHA) JUDICIAL MEMBER (ABRAHAM P. GEORGE) ACCOUNTANT MEMBER CHENNAI, DATED, THE 12.12.2011 VM/- TO: THE ASSESSEE//A.O./CIT(A)/CIT/D.R.