ITO, New Delhi V. M/s. Raghvender Shankar Finance & Investment Co. Pvt. Ltd., New Delhi

ITA 5552/DEL/2015

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 7120 (ITAT-DELHI)
• Duration Of Justice: 5 year(s) 6 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-04-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2005-2006
• Appeal Filed On: 22-09-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH C, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND SH. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCING) ITA NO.5552/DEL/2015 ASSESSMENT YEAR: 2005-06 ITO WARD 20 (4) NEW DELHI VS RAGHAVENDER SHANKAR FINANCE & INVESTMENT CO. PVT. LTD. AG-5, SHALIMAR BAGH, NEW DELHI PAN NO. AAACR3760P (APPELLANT) (RESPONDENT) CROSS OBJECTION NO.2/DEL/2020 ASSESSMENT YEAR: 2005-06 RAGHAVENDER SHANKAR FINANCE & INVESTMENT CO. PVT. LTD. AG-5, SHALIMAR BAGH, NEW DELHI PAN NO. AAACR3760P VS ITO WARD- 20 (4) NEW DELHI (APPELLANT) (RESPONDENT) APPELLANT BY MS. KIRTI SANKRATYAYAN, SR. DR RESPONDENT BY SH. ABHISHEK MATHUR, ADVOCATE DATE OF HEARING: 0 8 / 0 4 /2 0 21 DATE OF PRONOUNCEMENT: 0 8 / 0 4 /20 21 2 ORDER PER N. K. BILLAIYA, AM: THIS APPEAL BY THE REVENUE AND CROSS OBJECTION BY T HE ASSESSEE ARE PREFERRED AGAINST THE ORDER OF THE CIT (A)-11, NEW DELHI DATED 11.06.2015 PERTAINING TO A.Y. 2005- 06. 2. THE SUM AND SUBSTANCE OF THE GRIEVANCE OF THE RE VENUE IS THAT THE CIT(A) ERRED IN DELETING THE ADDITIONS OF RS.1,38,89,000/- MADE BY THE AO. 3. THE TAX EFFECT IN REVENUES APPEAL WOULD BE LESS THAN RS. 50 LACS AND HENCE THIS APPEAL BY THE REVENUE IS DISMISSED IN THE LIGHT OF THE CBDT CIRCULAR NO.17 OF 2019 DATED 08.08.2019. THE APPEAL IS ACCORDINGLY DISMISSED. 4. THE CROSS OBJECTION FILED BY THE ASSESSEE IS ALS O DISMISSED. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE A ND CROSS OBJECTION FILED BY THE ASSESSEE IS ACCORDINGLY DISM ISSED. 6. DECISION ANNOUNCED IN THE OPEN COURT IN THE PRES ENCE OF BOTH THE REPRESENTATIVES ON 08.04.2021. SD/- SD/- (SUDHANSHU SRIVASTAVA) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUN TANT MEMBER *NEHA* DATE:-08.04.2021 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGI STRAR ITAT NEW DELHI 3 DATE OF DICTATION 08.04.2021 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 08.04.2021 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER 08.04.2021 DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.PS/PS 08.04.2021 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT 08.04.2021 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/ PS 08.04.2021 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT 08.04.2021 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 08.04.2021 DATE ON WHICH FILE GOES TO THE HEAD CLERK. THE DATE ON WHICH FILE GOE S TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER