ITO, New Delhi V. M/s. New Castle Finance & Leasing Pvt. Ltd., New Delhi

ITA 6013/DEL/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 6542 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 1 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-12-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC 2
• Next Hearing Date: 07-11-2016
• Assessment Year: 2005-2006
• Appeal Filed On: 05-11-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: F R MEENA
• Keywords: Tax effect

Judgement Text

I.T.A .NO.-6013/DEL/2015 ITO VS NEW CASTLE FINANCE & LEASING PVT.LTD. IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: SMC-II NEW DELHI BEFORE SMT DIVA SINGH, JUDICIAL MEMBER I.T.A .NO.-601 3/DEL/2015 (ASSESSMENT YEAR- 2005-06) ITO, WARD-18(1), ROOM NO.225, 2 ND FLOOR, C.R.BUILDING,, I.P.ESTATE, NEW DELHI-110002. (APPELLANT) VS NEW CASTLE FINANCE & LEASING PVT.LTD., 109, CHOUDHARY COMPLEX, VEER SAVARKAR BLOCK, SHAKARPUR, NEW DELHI. PAN-AAACN0386K (RESPONDENT) APPELLANT BY SH.F.R.MEENA, SR.DR RESPONDENT BY NONE DATE OF HEARING 07.11.2016 DATE OF PRONOUNCEMENT 21 .12. 201 6 ORDER THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE AS SAILING THE CORRECTNESS OF THE ORDER DATED 17.08.2015 OF CIT(A)-42, NEW DELHI PERTAINING TO 2005-06 ASSESSMENT YEAR. 2. NO ONE WAS PRESENT ON BEHALF OF THE ASSESSEE. IN VITING ATTENTION TO THE GROUNDS RAISED, THE LD. SR. DR, SH.F.R.MEENA SUBMIT TED THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS MUCH BELOW RS.10 LAKH. AC CORDINGLY, IN THE LIGHT OF THE CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER 2015, THE APPEAL MAY BE TREATED AS NOT PRESSED. I HAVE CONSIDERED THE MATERIAL AVAI LABLE ON RECORD AND I FIND THAT THE APPEAL HAS BEEN PREFERRED BY THE REVENUE IN VIO LATION OF CIRCULAR NO.21/2015 DATED 10TH DECEMBER, 2015 OF CBDT. BY THE AFORESAID CIRCULAR, THE PECUNIARY LIMIT FOR FILING THE APPEAL BEFORE THE ITAT HAS BEEN PRES CRIBED BEYOND RS.10 LAKH. PARA 3 OF THE AFORESAID CIRCULAR HAS BEEN MADE APPLICABLE VIDE PARA 10 RETROSPECTIVELY. CONSIDERING THE SETTLED LEGAL PRECEDENT THAT THE BO ARDS INSTRUCTIONS OR DIRECTIONS ISSUED TO THE INCOME TAX AUTHORITIES U/S 268A OF TH E INCOME TAX ACT, 1961 ARE BINDING ON THE AUTHORITIES, I HOLD THAT THE APPEAL IS NON-MAINTAINABLE. WHILE SO HOLDING IT IS MADE CLEAR THAT SINCE THE PRESENT APP EAL HAS NOT BEEN DISPOSED OF ON MERITS, BUT DUE TO THE ABOVE REASON, THIS ORDER WIL L NOT HAVE ANY JUDICIAL PAGE 2 OF 2 I.T.A .NO.-6013/DEL/2015 ITO VS NEW CASTLE FINANCE & LEASING PVT.LTD. PRECEDENCE. ACCORDINGLY, THE APPEAL OF THE REVENUE IS DISMISSED AS NON- MAINTAINABLE. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 21 ST DECEMBER, 2016. SD/- (DIV A SINGH) JUDICIAL MEMBER *AMIT KUMAR* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSI STANT REGISTRAR ITAT NEW DELHI