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

ITA 5553/DEL/2015

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 5459 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 22-09-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AGAINST IMPUGNED PASSED
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: C, NEW DELHI BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SH. L.P. SAHU, ACCOUNTANT MEMBER ITA NO. 5553/DEL/2015 ASSESSMENT YEAR: 2010-11 INCOME TAX OFFICER, WARD 20(4), ROOM NO. 209, 2 ND FLOOR, C.R. BUILDING, I.P. ESTATE, NEW DELHI VS. M/S RAGHVENDER SHANKAR FINANCE & INVESTMENT CO. PVT. LTD., AG-5, SHALIMAR BAGH, NEW DELHI 110 052 (PAN: AAACR3760P) (APPELLANT) (RESPONDENT) ORDER PER H.S. SIDHU, J.M.: THIS APPEAL BY THE REVENUE AGAINST THE IMPUGNED OR DER PASSED BY THE LD. CIT(A)-11, NEW DELHI IN RELATION TO ASSESSMENT YEAR 2010-11. 2. EARLIER THIS CASE WAS FIXED FOR HEARING ON 14.6. 2018 AND WAS ADJOURNED FOR TODAY. TODAY I.E. ON 18.10.2018 NONE APPEARED ON BEHALF OF THE DEPARTMENT TO PROSECUTE THE MATTER IN DISPUTE, NOR FILED ANY APPLICATION FOR ADJOURNMENT. KEEPING IN VIEW THE F ACTS AND CIRCUMSTANCES OF THE PRESENT CASE AND THE ISSUE INVOLVED IN THE P RESENT APPEAL, WE ARE OF THE VIEW THAT NO USEFUL PURPOSE WOULD BE SERVED TO ISSUE NOTICE AGAIN TO THE REVENUE, THEREFORE, WE ARE DECIDING THE PRESENT AP PEAL EXPARTE QUA ASSESSEE, AFTER HEARING THE LD. COUNSEL FOR THE AS SESSEE AND PERUSING THE RECORDS. 3. LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE TAX INVOLVED IN THE PRESENT APPEAL IS LESS THAN THE PRESCRIBED LIMIT FI XED BY THE CBDT. HENCE, HE REQUESTED TO DISMISS THE REVENUES APPEAL ON ACCOUN T OF LOW TAX EFFECT. 4. WE HAVE HEARD THE LD. COUNSEL FOR THE ASSESSEE AND PERUSED THE RELEVANT MATERIAL ON RECORD. IT IS NOTICED THAT REC ENTLY THE CBDT HAS ISSUED CIRCULAR NO. 03 OF 2018, DATED 11TH JULY, 2018 WITH RETROSPECTIVE EFFECT, DEPARTMENT BY NONE ASSESSEE BY SH. ABHISHEK MATHUR, ADV. 2 REVISING THE MONETARY LIMIT TO RS.20,00,000/- FOR N OT FILING APPEALS BEFORE THE TRIBUNAL. 5. FROM THE AFORE-NOTED CIRCULAR, IT IS PALPABLE TH AT THE INSTRUCTION IS APPLICABLE TO THE PENDING APPEALS ALSO WITH RETROSP ECTIVE EFFECT AND THERE IS A CLEAR-CUT DIRECTION TO THE DEPARTMENT TO WITHDRAW O R NOT PRESS SUCH APPEAL FILED BEFORE THE ITAT, WHEREIN TAX EFFECT IS LESS T HAN RS.20,00,000/-. GOING BY THE PRESCRIPTION OF THE AFORE-NOTED CIRCULAR, WE ARE OF THE VIEW THAT THE REVENUE SHOULD HAVE EITHER NOT FILED THE INSTANT AP PEAL BEFORE THE TRIBUNAL OR WITHDRAWN THE SAME AS THE TAX EFFECT IN THIS APP EAL IS ADMITTEDLY LESS THAN THE PRESCRIBED LIMIT, I.E., RS. 20,00,000/- FOR NOT FILING THE APPEAL BEFORE THE TRIBUNAL. ACCORDINGLY, WE DISMISS THE INSTANT APPEA L FILED BY THE REVENUE WITHOUT GOING INTO MERITS OF THE CASE. HOWEVER, THE DEPARTMENT IS AT LIBERTY TO FILE MISCELLANEOUS APPLICATION, IF THE TAX EFFEC T IS FOUND TO BE MORE THAN THE PRESCRIBED LIMITED OF RS.20,00,000/- OR OTHERWI SE. ACCORDINGLY, THE APPEAL OF THE REVENUE STANDS DISMISSED. 6. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS ARE DISMISSED. THE DECISION IS PRONOUNCED ON 18 TH OCTOBER, 2018. SD/- SD/- (L.P. SAHU) (H.S. SI DHU) ACCOUNTANT MEMBER JU DICIAL MEMBER DATED: 18 TH OCTOBER, 2018. SRBHATNAGAR COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR ASST. REGISTRAR, ITAT, NEW DELHI 3