ITO, Meerut V. Shri Mukesh Kumar Jain, Meerut

ITA 5155/DEL/2010

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 6219 (ITAT-DELHI)
• Duration Of Justice: 5 year(s) 4 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-03-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 07-03-2016
• Assessment Year: 1998-1999
• Appeal Filed On: 22-11-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P DAM KANUNJNA
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : E : NEW DELHI BEFORE SMT. DIVA SINGH , JUDICIAL M EMBER AND SH. O.P. KANT , ACCOUNTANT MEMBER ITA NO. 5155 /DEL/ 2010 ASSESSMENT YEAR: 1998 - 99 INCOME TAX OFFICER, WARD - 1(4), MEERUT VS. SH. MUKESH KUMAR JAIN, 68/3, KAMLA NAGAR, MEERUT (PAN : ACAPJ7370A) (APPELLANT) (RESPONDENT) APPELLANT BY SH. P. DAM KANUNJNA, SR.DR RESPONDENT BY SH. SANDEEP SAPRA, ADV. DATE OF HEARING 07.03.2016 DATE OF PRONOUNCEMENT 30.03.2016 ORDER PER O.P. KANT , A. M. : THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LEARNED COMMISSIONER OF INCOME TAX(APPEALS) DATED 13.09.2010 IN RELATION TO ASSESSMENT YEAR 1998 - 99 , RAISING THE FOLLOWING GROUNDS OF APPEAL: 1. WHETHER IN THE FACTS AND CIRCUMSTANCES OF THE CASE, TH E CIT(APPEALS) HAS ERRED IN LAW IN DELETING THE ADDITION OF RS. 11,90,120/ - MADE BY A.O. ON ACCOUNT OF SALE OF ASSETS DESPITE THE A.O. HOLDING THE SALE BILLS ISSUED BY M/S. BISHAN CHAND MUKESH KUMAR SARRAF AND M/S. B.M. JEWELLERS (P.) LTD. AS BOGUS. 2. IN THE FACTS AND CIRCUMSTANCES OF THE CASE, THE ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS) MAY BE SET ASIDE AND THAT OF THE A.O. RESTORED. 2. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE RELEVANT MATERIAL ON RECORD . IT IS NOTICED THAT THE CBDT HAS ISSUED CIRCULAR 2 ITA NO. 5155/DEL/2010 AY: 1998 - 99 NO. 21 OF 2015 DATED 10.12.2015 WITH RETROSPECTIVE EFFECT, REVISING THE MONETARY LIMIT TO RS.10,00,000/ - FOR NOT FILIN G APPEALS BEFORE THE TRIBUNAL. THE LD. SR. DEPARTMENTAL REPRESENTATIVE , ALTHOUGH SUPPORTED THE ORDER OF THE ASSESSING OFFICER, BUT COULD NOT CONTROVERT THE FACT THAT TAX EFFECT INVOLVED IN THE APPEAL IS LESS THAN RS.10,00,000/ - . 3. FROM PARA 10 OF THE ABOVE CIRCULAR , IT IS PALPABLE THAT THE INSTRUCTION IS APPLICABLE TO THE PENDING APPEALS ALSO WITH RETROSPECTIVE EFFECT AND THERE IS A CLEAR - CUT DIRECTION TO THE DEPARTMENT TO WITHDRAW OR NOT PRESS SUCH APPEALS FILED BEFORE THE ITAT , WHEREIN TAX EFFECT IS LESS THAN RS.10 ,00,000/ - . GOING BY THE PRESCRIPTION OF THE AFORE - NOTED CIRCULAR, WE ARE OF THE VIEW THAT THE REVENUE SHOULD HAVE EITHER NOT FILED THE INSTANT APPEAL BEFORE THE TRIBUNAL OR WITHDRAWN THE SAME AS THE TAX EFFECT IN THIS APPEAL IS ADMITTEDLY LESS THAN THE PRE SCRIBED LIMIT I.E. RS. 10,00,000/ - FOR NOT FILING THE APPEAL . ACCORDINGLY , WE DISMISS THE INSTANT APPEAL W ITHOUT GOING INTO MERITS OF THE CASE. 4. IN THE RESULT, THE APPEAL OF THE REVENUE STAND S DISMISSED. THE DECISION IS PRONOUNCED IN THE OPEN COURT ON 3 0 T H MARCH , 2016 . S D / - S D / - ( DIVA SINGH ) ( O.P. KANT ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 3 0 T H MARCH , 2016 . RK/ - COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR ASST. REGISTRAR, ITAT, NEW DELHI