The Income Tax Officer, Ward-2(2), Panaji., Panaji V. M/s Goa State Co-op. Milk Producers Union Ltd., Ponda

ITA 60/PAN/2016

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 2033 (ITAT-PANAJI)
• Duration Of Justice: 2 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-07-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 20-07-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 09-05-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: ANAND SHANKAR MARATHE
• Assessee Lawyers: CHINMAY S KAMAT
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH, PANAJI BEFORE SHRI N.S. SAINI, HONBLE ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, HONBLE JUDICIAL MEMBER ITA NO. 60 / PAN /201 6 (ASST. YEAR : 20 1 0 - 11 ) ITO, WARD - 2(2) , PANAJI - GOA . VS. M/S. GOA STATE COOPERATIVE MILK PRODUCERS UNION LTD., GOA DAIRY, CURTI, PONDA GOA. PAN NO. AAAAG 3101 F (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI CHINMAY S. KAMAT C A DEPARTMENT BY : S HRI ANAND SHANKAR MARATHE - DR DATE OF HEARING : 20 / 0 7 /201 6 . DATE OF PRONOUNCEMENT : 20 / 07 /201 6 . O R D E R PER GEORGE MATHAN , JUDICIAL MEMBER THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) , PANAJI - 1 IN APPEAL NO. 188/PNJ/13 - 14 , DATED 12 /0 2 /201 6 FOR THE ASSESSMENT YEAR 2010 - 11 . 2. THE ONLY ISSUE INVOLVED IN THIS APPEAL IS THAT COMMISSIONER OF INCOME TAX (APPEALS) ERRED IN DELETING THE ADDITION ON ACCOUNT OF PARTICIPATORY INCENTIVE THOUGH IT HAS BEEN BROUGHT OUT TO THE PROFIT & LOSS ACCOUNT . 3. AT THE TIME OF HEARING, AUTHORIZED REPRESENTATIVE OF THE ASSESSEE SUBMITTED THAT TAX EFFECT IN THE PRESENT APPEAL WAS BELOW 10 LAC AND 2 ITA NO. 60 / PAN /201 6 IN VIEW OF THE CBDT CIRCULAR N O . 21/2015 DATED 10/12/2015 , THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE. 3 . DEPARTMENTAL REPRESENTATIVE ALSO AGREED WITH THE ABOVE SUBMISSION OF THE AUTHORIZED REPRESENTATIVE OF THE ASSESSEE. THEREFORE, WE DI SMISS THE APPEAL OF THE REVENUE ON ACCOUNT OF L O W T A X E F F E C T . 4 . IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE COURT AT THE CLOSE OF THE HEARING ON WEDNESDAY , THE 20 TH DAY OF JULY , 201 6 AT GOA . S D / - S D / - (N.S.SAINI) (GEORGE MATHAN) ACCOUNTANT MEMBER JUDICIAL MEMBER D ATED : 20 TH JULY, 201 6 . VR/ - COPY TO: 1 . THE ASSESS E E. 2 . THE REVENUE. 3 . THE CIT 4 . THE CIT(A) 5 . THE D.R . 6 . GUARD FILE. BY ORDER ASSISTANT REGISTRAR I.T.A.T., PANAJI