ACIT, Circle , Kurukshetra V. The Kurukshetra Central Co-op Bank Ltd., Kurukshetra

ITA 598/CHANDI/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2025 (ITAT-CHANDIGARH)
• Duration Of Justice: 4 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-09-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2015-2016
• Appeal Filed On: 01-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AAKARSHAN SINGH
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH A CHANDIGARH !, ' # , $ % & ' ( , )* # BEFORE: SMT. DIVA SINGH, JM & SMT.ANNAPURNA GUPTA, AM ./ ITA NO. 598/CHD/2019 ASSESSMENT YEAR. : 2015-16 THE ACIT, CIRCLE, KURUKSHETRA. VS THE KURUKSHETRA CENTRAL CO-OP BANK LTD., RAILWAY ROAD, KURUKSHETRA. PAN /TAN NO: AAAAT2371G APPELLANT RESPONDENT REVENUE BY : SHRI AAKARSHAN SINGH, SR.DR !' ASSESSEE BY : SHRI B.M.MONGA & SHRI ROHIT KAURA # $'% DATE OF HEARING : 04.09.2019 &'()'% D ATE OF PRONOUNCEMENT : 06.09.2019 )-/ ORDER PER DIVA SINGH BY THE PRESENT APPEAL, THE REVENUE ASSAILS THE COR RECTNESS OF THE ORDER DATED 28.02.2019 OF CIT(A) KARNAL PERTAIN ING TO 2015-16 ASSESSMENT YEAR. 2. THE SAID APPEAL WAS FIXED BY THE REGISTRY IN VI EW OF THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL WHICH WAS STA TED TO BE MUCH BELOW THE LIMIT FIXED BY THE CBDT VIDE CIRCULAR NO. 17/2019 DATED 08.08.2019. 3. ON 27.08.2019, THE DEPARTMENT SOUGHT TIME TO VER IFY THE TAX EFFECT INVOLVED. ON 28.08.2019 THE TAX CALCULATION FILED BY THE LD. AR CLAIMING THAT THE DISPUTED TAX WAS RS. 42,79,002 /- AS THE ITA 598 /CHD/2019 A.Y. 2015-16 PAGE 2 OF 2 ADDITION OF RS. 31,55,721/- TAKEN INTO CONSIDERATIO N BY THE LD. SR.DR WAS INCORRECTLY CONSIDERED AS THE CIT(A) HAD DECIDED THE ISSUE AGAINST THE ASSESSEE AT PAGES 8 AND 9 OF HIS ORDER IN PARA 5.2. TIME WAS SOUGHT BY THE LD. SR.DR TO GO THROUG H THE CALCULATIONS FILED. THE APPEAL, THEREAFTER, CAME UP FOR HEARING ON 04.09.2019. THE POSITION OF FACT WAS CONFIRMED BY THE LD. SR.DR. 4. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. WE HAVE TAKEN INTO ACCOUNT THE SPECIFIC PARA 5.2 OF THE IMPUGNED ORDER. ACCORDINGLY, IN THE LIG HT OF THE SUBMISSIONS OF THE PARTIES BEFORE THE BENCH AND THE FACTS AVAILABLE ON RECORD, THE APPEAL OF THE REVENUE IS DISMISSED O N THE GROUNDS OF TAX EFFECT WHICH DECISION ON FACT WAS ULTIMATELY NO T DISPUTED BY THE REVENUE. ORDER TO THE SAID EFFECT WAS PRONOUNCED I N THE OPEN COURT AT THE TIME OF HEARING ITSELF. 5. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D AS NOT MAINTAINABLE. ORDER PRONOUNCED IN THE OPEN COURT ON 6 TH SEPTEMBER,2019. SD/- SD/- ( $ % & ' ( ) ( ! ) (ANNAPURNA GUPTA) (DIVA SINGH) )* #/ ACCOUNTANT MEMBER ' #/ JUDICIAL MEMBER POONAM '+ ',- .-' / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. # /' / CIT 4. # /' ( )/ THE CIT(A) 5. -01 '2 , % 2 , 34516 / DR, ITAT, CHANDIGARH 6. 15 7$ / GUARD FILE '+ # / BY ORDER, 8 / ASSISTANT REGISTRAR