The ACIT Corp Cir-1(2), Kochi V. M/s.Henry & Farad Pvt Ltd, Edapally, Kochi

ITA 558/COCH/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 6148 (ITAT-COCHIN)
• Duration Of Justice: 1 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-01-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 05-12-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A S BINDHU
• Assessee Lawyers: V M SANTHOSH
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI CHANDRA POOJAR I, AM & SHRI GEORGE GEORGE K, JM ITA NO. 558 /COCH/201 8 : ASST.YEAR 2007 - 2008 THE ASST.COMMISSIONER OF INCOME - TAX CORP. CIRCLE 1 ( 2 ) KOCHI. VS. M/S.HENRY & FARAD PRIVATE LIMITED CC - 34/2551, BANK HOUSE THAMBURATTY PARAMBU ROAD, EDAPPALLY KOCHI 682 024. PAN : AAACH6081R . (APPELLANT) (RESPONDENT) APPELLANT BY : SMT.A.S.BINDHU , SR.DR RESPONDENT BY : SRI. V.M.SANTHOSH DATE OF HEARING : 23.01 .2018 DATE OF PRONOUNCEMENT : 24. 01.2019 O R D E R PER GEORGE GEORGE K, JM THIS APPEAL AT THE INSTANCE OF THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME - TAX (APPEALS) - I, KOCHI, DATED 12.06.2017. THE RELEVANT ASSESSMENT YEAR IS 2007 - 2008 . 2. IT IS OBSERVED THAT THE TAX EFFECT IN THE APPEAL FILED BY THE REVENUE IS LESS THAN RS. 20 LAKHS AND THEREFORE THE CIRCULAR NO. 3/2018 DATED 11.07.2018 ISSUED BY THE CENTRAL BOARD OF DIRECT TAXES (CBDT) IN EXERCISE OF ITS POWER VESTED UNDER SEC. 268A(1) OF THE I.T. ACT COMES INTO PLAY, WHEREIN, THE MONETARY LIMIT FOR FILING THE APPEAL ( S ) BY THE REVENUE BEFORE THE ITAT ITA NO. 558 / COCH /201 8 M/S. HENRY & FARAD PRIVATE LIMITED . 2 AND VARIOUS HIGH COURTS AS WELL AS APEX COURT ARE REVISED WITH AN OBJECT OF REDUCING THE TAX LITIGATION. VIDE PARA 3 OF THE SA ID CIRCULAR (SUPRA) , IT IS STATED THAT IN CASES WHERE THE TAX EFFECT IN THE APPEAL TO BE FILED BEFORE THE APPELLATE TRIBUNAL DOES NOT EXCEED RS. 20 LAKHS , APPEAL SHOULD NOT BE FILED. THUS , TAKING A NOTE OF CBDT CIRCULAR NO. 03/2018 DATED 11.07.2018 AND CON SIDERING THE FACT THAT THE TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN R S. 20 LAKHS, THE PRESENT APPEAL DESERVE S TO BE DISMISSED , AS NOT MAINTAINABLE. HOWEVER, WE MAKE IT CLEAR THAT THE ISSUE ( S ) RAISED IN THE INSTANT APPEAL IS LEFT OPEN TO BE EXAMINED IN THE APPROPRIATE PROCEEDINGS, IF ARISES, IN FUTURE. AT THE SAME TIME , WE ALSO M AKE IT CLEAR THAT IF THE APPEAL FALL IN ANY OF THE EXCEPTIONS REFERRED TO IN THE ABOVE SAID CBDT CIRCULAR, THE REVENUE IS AT LIBERTY TO MOVE AN APPLICATION FOR RECALLING THE ORD ER, IF SO, ADVISED. 3. ACCORDINGLY IN THE LIGHT OF CBDT CIRCULAR NO. 03/2018 DATED 11.07.2018, THE APPEAL STAND S DISMISSED. 4 . IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED ON THIS 24 TH DAY OF JANUARY, 2019 . SD/ - SD/ - ( CHANDRA POOJARI ) ( GEORGE GEORGE K ) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN ; DATED : 24 TH JANUARY, 2019 . DEVDAS* ITA NO. 558 / COCH /201 8 M/S. HENRY & FARAD PRIVATE LIMITED . 3 COPY OF THE ORDER FORWARDED TO : BY ORDER, (ASSTT. REGISTRAR) ITAT, COCHIN 1. THE APPELLANT 2. THE RESPONDENT. 3. THE PR.CIT, KOCHI. 4. THE CIT(APPEALS) - I, KOCHI. 5. DR, ITAT, COCHIN 6 . GUARD FILE.