ACIT, New Delhi V. M/s. Bhushan Energy Ltd., New Delhi

ITA 5427/DEL/2015

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 6165 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 4 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-01-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 04-09-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH A , NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SH. K. N. CHARY, JUDICIAL MEMBER ITA NO. 5 427 / DEL/201 5 ASSESSMENT YEAR: 20 08 - 09 ACIT CENTRAL CIRCLE - 03, ROOM N O.332 ARA CENTRE, JHANDEWALAN EXTN. NEW DELHI VS BHUSHAN ENERGY LTD. 7 TH FLOOR, BHUSHAN CENTRE, HAYAT REGENCY COMPLEX, BHIKAJI CAMA PLACE NEW DELHI - 110066 PAN AAACC7445H (APPELLANT) (RESPONDENT) APPELLANT BY MS. ASHIMA NEB, SR. DR RESPONDENT B Y SHRI ASHWANI KUMAR, ADVOCATE DATE OF HEARING: 2 4 /0 1 /201 9 DATE OF PRONOUNCEMENT: 24 / 0 1/201 9 ORDER PER R.K. PANDA AM: 1. THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 02.06.2015 OF THE CIT(A) - 23 , NEW DELHI FOR A. Y. 20 0 8 - 09 . 2. THE LD. COUNSEL FOR THE ASSESSEE AT THE OUTSET SUBMITTED THAT THE REVENUE HAS CHALLENGED THE ORDER OF THE CIT(A) IN DELETING THE ADDITION OF RS.62,33,456/ - AND THEREFORE, THE TAX EFFECT OF THE GROUND RAISED BY THE REVENUE BEING BELOW RS.20,00,0 00/ - , THE APPEAL FILED BY THE REVENUE HAS TO BE DISMISSED. 3. I N VIEW OF THE CBDT CIRCULAR NO. 03/2018 [F.NO.279/MISC.142/2007 - ITJ (PT.)] DATED 11.07.2018 RAISING THE MONETARY LIMIT TO RS.20,00,000/ - FOR 2 FILING OF THE APPEALS BY THE DEPAR TMENT BEFORE ITAT THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE. AS PER PARA 3 OF THE SAID CIRCULAR IT IS ALSO CLARIFIED THAT THE PENDING APPEALS OF THE DEPARTMENT BEFORE ITAT HAVING MONETARY LIMIT OF RS. 20,00,000/ - OR LESS WILL BE TREATED AS WITHDRAWN. SINCE IN THE INSTANT CASE THE TAX EFFECT IS ADMITTEDLY BELOW RS. 20,00,000/ - , THEREFORE, IN VIEW OF THE LATEST CBDT CIRCULAR CITED (SUPRA) THE APPEAL FILED BY THE REVENUE IS DISMISSED ON ACCOUNT OF LOW TAX EFFECT . 3 . IN THE RESULT, THE APPEAL FILED BY TH E REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ITSELF I.E. ON 2 4.01.2019 . SD/ - SD/ - (K. NARSIMHA CHARY) (R.K. PANDA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 24 . 0 1 . 201 9 . *NEHA* COPY OF ORDER TO : - 1 ) THE APPELLANT 2 ) THE RESPONDENT 3 ) THE CIT 4 ) THE CIT(A) 5 ) THE DR, I.T.A.T., NEW DELHI BY ORDER ASSISTANT REGISTRAR ITAT , NEW DELHI 3 DATE OF DICTATION 24 .01.2019 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.PS/PS DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/ PS DATE ON WHICH THE FINAL ORDER IS UPLOADE D ON THE WEBSITE OF ITAT 25.01.2 019 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK DATE ON WHICH FILE GOES TO THE HEAD CLERK. THE DATE ON WHICH FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER