ACIT, Circle Karnal, Karnal V. Veer Overseas Ltd., Karnal

ITA 610/DEL/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 8374 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 2 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-04-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 1999-2000
• Appeal Filed On: 25-01-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASHIMA NEB
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: F NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER ITA NO.610/DEL/2018 ASSESSMENT YEAR: 1999-2000 ASSTT. COMMISSIONER OF INCOME-TAX, KASHIPUR VS VEER OVERSEAS LTD., G.T. ROAD, GHARAUNDA, KARNAL, HARYANA. PAN: AAACV9333N ASSESSEE BY NONE REVENUE BY SMT. ASHIMA NEB, SR. DR ORDER PER K. NARASIMHA CHARY, JM: THE PRESENT APPEAL IS FILED BY THE REVENUE IN RESPECT OF ASSESSMENT YEAR 1999-2000AGAINST THE ORDERSDATED 30.11.2017 PASSED BY THE LD. COMMISSIONER OF INCOME-TAX (APPEALS), KARNAL {CIT(A)}. 2. THE LD. DR SUBMITTED THAT VIDE LETTER OF ACIT, KARNAL DATED 5 TH APRIL, 2019, SOUGHT PERMISSION TO WITHDRAW THE APPEAL DATE OF HEARING 11.04.2019 DATE OF PRONOUNCEMENT 11.04.2019 2 CONSEQUENT TO CIRCULAR NO.3/2018 DATED 11.07.2018 AS THE TAX EFFECT INVOLVED IN THIS CASE IS RS.5,68,765/- ONLY. 3. WE HAVE HEARD THE LEARNED DR. IT IS FOUND THAT PURSUANT TO THE MANDATE OF SECTION 268A, THE CBDT HAS ISSUED CIRCULAR NO. 03 OF 2018, DATED 11TH JULY, 2018 WITH RETROSPECTIVE EFFECT, REVISING THE MONETARY LIMIT TO RS.20,00,000/- FOR NOT FILING APPEALS BEFORE THE TRIBUNAL. IT IS FURTHER FOUND THAT AS THE TAX EFFECT INVOLVED IN THE INSTANT APPEAL IS LESS THAN RS.20,00,000/-, THE EXTANT APPEAL IS NOT MAINTAINABLE. 4. GOING BY THE PRESCRIPTION OF THE AFORENOTED CIRCULAR, IT IS PALPABLE THAT THE INSTRUCTION IS APPLICABLE TO THE PENDING APPEALS ALSO WITH RETROSPECTIVE EFFECT AND THERE IS A CLEAR-CUT DIRECTION TO THE DEPARTMENT TO WITHDRAW OR NOT PRESS SUCH APPEALS FILED BEFORE THE ITAT, WHEREIN TAX EFFECT IS LESS THAN RS.20,00,000/-. WE ARE, THEREFORE, OF THE VIEW THAT IN VIEW OF ABOVE CIRCULAR, THE REQUEST OF REVENUE FOR WITHDRAWAL OF THE INSTANT APPEAL IS ACCEPTED AS THE TAX EFFECT IN THIS APPEAL IS ADMITTEDLY LESS THAN THE PRESCRIBED LIMIT, I.E., RS. 20,00,000/- FOR NOT FILING THE APPEAL. ACCORDINGLY, WE DISMISS THE INSTANT APPEAL AS WITHDRAWN. 3 7. IN THE RESULT, APPEAL OF THE REVENUE STANDS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 11.04.2019. SD/- SD/- (N.K. BILLAIYA) (K. NARASIMHA CHARY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 11 TH APRIL, 2019 VJ COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI DRAFT DICTATED ON 11.04.2019 DRAFT PLACED BEFORE AUTHOR 11.04.2019 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. APPROVED DRAFT COMES TO THE SR.PS/PS KEPT FOR PRONOUNCEMENT ON DATE OF UPLOADING ORDER ON THE WEBSITE FILE SENT TO THE BENCH CLERK DATE ON WHICH FILE GOES TO THE AR DATE ON WHICH FILE GOES TO THE HEAD CLERK. DATE OF DISPATCH OF ORDER.