Addl. Commissioner of Income Tax, Kanpur V. M/s Rave Entertainment Pvt. Ltd., Kanpur

ITA 600/LKW/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4716 (ITAT-LUCKNOW)
• Duration Of Justice: 5 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 19-02-2016
• Assessment Year: 2006-2007
• Appeal Filed On: 07-09-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: P K KAPOOR
• Keywords: Tax effect
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH A , LUCKNOW BEFORE SHRI S UNIL KUMAR YADAV , JUDICIAL MEMBER AND SHRI. A. K. GARODIA , ACCOUNTANT MEMBER ITA NO. 600/LKW/2015 ASSESSMENT YEAR: 2006 - 07 ADDL. CIT SPECIAL RANGE KANPUR V. M/S RAVE ENTER TAINMENT PVT. LTD. JAGRAN BUILDING 02, SARVODAYA NAGAR KANPUR T AN /PAN : AABCR5768A (APP ELL ANT) (RESPONDENT) APP ELL ANT BY: SHRI. AMIT NIGAM, D.R. RESPONDENT BY: SHRI. P. K. KAPOOR, C.A. DATE OF HEARING: 19 02 201 6 DATE OF PRONOUNCEMENT: 26 02 201 6 O R D E R PER SUNIL KUMAR YADAV: THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE OR DER OF THE LD. CIT(A) ON A SOLITARY GROUND THAT THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN PARTIALLY ALLOWING AND RESTRICTING THE ADDITION OF RS.18 LAKHS MADE UNDER SECTION 14A AND THE ADDITION OF RS.4 LAKHS MADE ON ACCOUNT OF ACCRUED INTEREST IN RESPECT OF INTEREST FREE ADVANCES TO RS.3,72,790/ - . 2 . AT THE OUTSET THE LD. COUNSEL FOR THE ASSESSEE HAS SUBMITTED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THA N RS.10 LA KHS, THEREFORE, THIS APPEAL OF THE REVENUE IS NOT MAINTAINABLE IN VIEW OF THE CIRCULAR OF THE CBDT BEARING NO. 21 OF 2015 DATED 10 TH DECEMBER, 2015 , IN WHICH THE CBDT HAS TAKEN A DECISION TO WITHDRAW ALL THE APPEALS FILED BY THE REVENUE , IN WHICH TAX EFFECT INVOLVED IS LESS THAN RS.10 LA KHS . THOUGH THE REVENUE WAS DIRECTED BY THE BOARD TO WITHDRAW THIS APPEAL , : - 2 - : BUT NO STEPS HAVE BEEN TAKEN BY THE REVENUE TILL DATE. WE ARE , THEREFORE, OF THE VIEW THAT THIS APPEAL OF THE REVENUE IS NOT MAINTAINABLE IN THE LIGHT OF THE AFORESAID CIRCULAR OF CBDT AND THEREFORE, WE DISMISS THE SAME BEING NOT MAINTAINABLE. 3 . IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DISMISSED. ORDER WAS PRONOUNCED IN THE OPEN COURT ON THE DATE MENT I ONED ON THE CAPTION ED PAGE. SD / - SD/ - [ A. K. GARODIA ] [ S UNIL KUMAR Y ADAV ] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 26 TH 1 . APPELLANT FEBRUARY , 2016 JJ: 1902 COPY FORWARDED TO: 2 . RESPONDENT 3 . CIT(A) 4 . CIT 5 . DR ASSISTANT REGISTRAR