ITO, W-2(5), Chandigarh V. M/s Bassi Steels Ltd., Derabassi

ITA 587/CHANDI/2018

• Counselvise Citation: [2018] 122 COUNSELVISE.COM (IT) 3949 (ITAT-CHANDIGARH)
• Duration Of Justice: 5 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2004-2005
• Appeal Filed On: 03-05-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MANJIT SINGH
• Keywords: Tax effect

Judgement Text

, ... , IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH SMD CHANDIGARH !', # $ !, ! % & ' ( ) , *+ $ BEFORE: SMT. DIVA SINGH, JM & SMT.ANNAPURNA GUPTA, AM ITA NO. 587/CHD/2018 ASSESSMENT YEAR : 2004-05 THE ITO, AAYAKAR BHAWAN, CHANDIGARH. VS M/S BASSI STEE LS LTD. VILLAGE GHOLU MAJRA, DERA BASSI. PAN NO: AABCB2610D APPELLANT RESPONDENT ! REVENUE BY : SHRI MANJIT SINGH, SR.DR '# ! ASSESSEE BY : NONE $ % #& DATE OF HEARING : 04.09.2018 '()* #& D ATE OF PRONOUNCEMENT : 04.10. 2018 *,/ ORDER PER DIVA SINGH THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE ASSAI LING THE CORRECTNESS OF THE ORDER DATED 13.02.2018 OF CIT(A)-I CH ANDIGARH PERTAINING TO 2004-05 ASSESSMENT YEAR. 2. AT THE TIME OF HEARING, NO ONE WAS PRESENT ON BEHALF O F THE ASSESSEE EXCEPT AN APPLICATION WAS PLACED ON RECORD STATING THAT THE DEPARTMENTAL APPEAL IS NOT MAINTAINABLE AS THE TAX EFFECT INVOLVED IS RS. 3 2,440/- AND THUS, MUCH BELOW THE LIMIT OF RS. 20 LACS FIXED BY THE CBDT CIRCULAR NO. 3/2018 DATED 11.07.2018. 3. THE LD. SR.DR MR.MANJIT SINGH WAS HEARD AND ON GOING T HROUGH THE MATERIAL ON RECORD HE DID NOT DISPUTE THE POSITION AS IN T HE COPY OF THE GROUND RAISED ITSELF, THE AO HAS MENTIONED THAT THE TAX INVOLVED IS RS. 32,440/-. ACCORDINGLY, IN VIEW THEREOF, THE APPEAL FILED BY T HE REVENUE HAVING BEEN FILED AGAINST THE AFORESAID CIRCULAR WHEREIN VIDE PARA 10, THE TAX EFFECT IN THE APPEALS FILED BY THE REVENUE BEFORE THE I TAT HAS BEEN FIXED AT RS. 20 LACS. THE SAID CIRCULAR IS RETROSPECTIVE IN NATURE. ITA 587/CHD/2018 A.Y.2004-05 PAGE 2 OF 2 ACCORDINGLY, THE APPEAL OF THE REVENUE IS DISMISSED AS HAVING BEEN FILED IN VIOLATION OF THE CBDT CIRCULAR. SAID ORDER WAS PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ITSELF. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 04.10. 2018. SD/- SD/- ( % & ' ( ) ) ( !' ) (ANNAPURNA GUPTA) (DIVA S INGH) *+ $/ ACCOUNTANT MEMBER # $/ JUDICIAL MEMBER & % (+ #,-.-# COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT - 2. THE RESPONDENT - 3. $ /# CIT 4. $ /#01 THE CIT(A) 5. -2#45&456789 DR, ITAT, CHANDIGARH 6. 8:% GUARD FILE (+ $ BY ORDER, ; ASSISTANT REGISTRAR