ACIT, New Delhi V. Shri Man Singh, New Delhi

ITA 5109/DEL/2016

• Counselvise Citation: [2018] 122 COUNSELVISE.COM (IT) 4249 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2012-2013
• Appeal Filed On: 28-09-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MANOJ KUMAR MAHAR
• Assessee Lawyers: GAURAV JAIN MS MANISHA SHARMA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH E : NEW DELHI) BEFORE SHRI R.S.SYAL, HONBLE VICE PRESIDENT AND SHRI LALIET KUMAR, ACCOUNTANT MEMBER ITA NO.5109/DEL./2016 (ASSESSMENT YEAR : 2012-13) ACIT, MAN SINGH CIRCLE CIRCLE-5, VS. 101, JYOTI BHAWAN, ROOM NO. 362, COMMERCIAL COMPLES, 3 RD FLOOR, ARA CENTRE, JHANDEWALAN EXTN. NEW DELHI. NEW DELHI (PAN : ANZPS7548B) (APPELLANT) (RESPONDENT) ASSESSEE BY : SH. GAURAV JAIN, MS. MANISHA SHARMA, ADV. REVENUE BY : SHRI MANOJ KUMAR MAHAR, SR. DR DATE OF HEARING : 10.10.2018 DATE OF ORDER : 10.10.2018 O R D E R PER LALIET KUMAR, ACCOUNTANT MEMBER : 1. THE PRESENT APPEAL IS FILED BY THE REVENUE CHALL ENGED THE ASSESSEE ON THE FOLLOWING GROUNDS :- 1. THE ORDER OF THE CIT(A) IS NOT CORRECT IN LAW A ND ON FACTS. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS. 38,68,800 /- MADE BY AO ON ACCOUNT OF UNEXPLAINED JEWELLERY. ITA NO. 5109/DEL./2016 2 3. ON THE FACTS AND CIRCUMSTANCES OF THE CIT(A) HAS ERRED IN HOLDING THAT JEWELLERY FOUND FROM AN INDIVIDUAL DUR ING SEARCH IS TO BE CONSIDERED EXPLAINED IF IT IS LESS THAN TH E JEWELLERY DECLARED BY ENTIRE FAMILY. 4. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS. 24,80,000 /- MADE BY AO ON ACCOUNT OF UNEXPLAINED CASH. 2. AS PER THE CBDT CIRCULAR NO.3/2018 DATED 11 TH JULY, 2018 VIDE WHICH THE REVENUE HAS BEEN DIRECTED NOT TO PRE FER ANY APPEAL IN CASE THE TAX EFFECT IS LESS THAN RS.20,00,000/- AND THIS FACTUAL POSITION HAS BEEN FAIRLY CONCEDED BY THE LD. D.R. THE LD. A.R. CONTENDED THAT THE APPEAL OF THE REVENUE MAY BE DIS MISSED IN THE LIGHT OF CBDT CIRCULAR (SUPRA). 3. AFTER PERUSING THE MATERIALS AVAILABLE ON RECOR D, WE FIND THAT THE AMOUNT DISPUTED BEFORE US IS BELOW THE TAX EFFE CT LIMIT PRESCRIBED BY CBDT VIDE CIRCULAR NO. 3/2018 DATED 1 1.07.2018 FOR PREFERRING APPEALS BEFORE TRIBUNAL BY THE REVEN UE. ON PERUSAL OF THE CIRCULAR NO. 3/2018 DATED 11.07.2018 AND THE MA TERIALS AVAILABLE ON RECORD, LD. SR. DR COULD NOT POINT OUT AS TO HOW AND WHY SUCH A CIRCULAR IS NOT APPLICABLE TO THE FACTS OF THE CASE. WE ALSO FIND THAT THE CIRCULAR MAKES IT VERY CLEAR THA T THE REVISED MONETARY LIMITS SHALL APPLY RETROSPECTIVELY TO PEND ING APPEALS ALSO. WE FIND THAT THE CIRCULAR IS BINDING ON THE TAX AUT HORITIES. HENCE, WE HOLD THAT THE APPEAL OF THE REVENUE DESERVES TO BE DISMISSED IN TERMS OF LOW TAX EFFECT VIDE CIRCULAR NO. 3/2018 DA TED 11.07.2018. ACCORDINGLY, THIS BEING A LOW TAX EFFECT CASE, WE D ISMISS THIS APPEAL OF REVENUE IN LIMINE, AS UNADMITTED, WITHOUT GOING INTO THE MERITS OF THE CASE. ITA NO. 5109/DEL./2016 3 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. ORDER PRONOUNCED IN OPEN COURT ON THIS 10 TH OCTOBER, 2018. SD/- SD/- (R.S.SYAL) (LALIET K UMAR) VICE PRESIDENT ACCOUNTANT MEMBER DATED: 10/10/ 2018 BR COPY FORWARDED TO: 1.APPELLANT 2.RESPONDENT 3.CIT 4.CIT(A)-XXVI, NEW DELHI. 5.CIT(ITAT), NEW DELHI. AR, ITAT NEW DELHI. DATE OF DICTATION 10.10.2018 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 10 .10.2018 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER 10.10.2018 DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. PS/PS 10.10.2018 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT 10.10.2018 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/PS 10.10.2018 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT 10.10.2018 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 1 0.10.2018 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER