Addl. CIT, Special Range- 7, New Delhi V. PNB Housing Finance Ltd., New Delhi

ITA 6382/DEL/2017

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 0328 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 8 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-06-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2010-2011
• Appeal Filed On: 16-10-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: JAGDISH SINGH SENIOR
• Assessee Lawyers: S KRISHNAN
• Keywords: Tax effect
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI DELHI DELHI FRIDAY BENCH FRIDAY BENCH FRIDAY BENCH FRIDAY BENCH A AA A : NEW DELHI : NEW DELHI : NEW DELHI : NEW DELHI (THROUGH VIDEO CONFERENCING) (THROUGH VIDEO CONFERENCING) (THROUGH VIDEO CONFERENCING) (THROUGH VIDEO CONFERENCING) BEFORE SHRI G.S. PANNU BEFORE SHRI G.S. PANNU BEFORE SHRI G.S. PANNU BEFORE SHRI G.S. PANNU, ,, , VICE PRESIDENT AND VICE PRESIDENT AND VICE PRESIDENT AND VICE PRESIDENT AND SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA NO. ITA NO. ITA NO. ITA NO. 6382 6382 6382 6382 /DEL/201 /DEL/201 /DEL/201 /DEL/201 7 77 7 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR : : : : 201 201 201 201 0 00 0 - -- - 11 1111 11 ADDITIONAL COM ADDITIONAL COM ADDITIONAL COM ADDITIONAL COM MISSIONER OF MISSIONER OF MISSIONER OF MISSIONER OF INCOME TAX, INCOME TAX, INCOME TAX, INCOME TAX, SPECIAL RANGE SPECIAL RANGE SPECIAL RANGE SPECIAL RANGE- -- -7, 7,7, 7, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. VS. VS. VS. VS. M/S PNB HOUSING FINANCE LIMITED, M/S PNB HOUSING FINANCE LIMITED, M/S PNB HOUSING FINANCE LIMITED, M/S PNB HOUSING FINANCE LIMITED, 9 99 9 TH THTH TH FLOOR, ANTRIKSH BHAWAN, FLOOR, ANTRIKSH BHAWAN, FLOOR, ANTRIKSH BHAWAN, FLOOR, ANTRIKSH BHAWAN, 22, K.G. MARG, 22, K.G. MARG, 22, K.G. MARG, 22, K.G. MARG, NEW DELHI NEW DELHI NEW DELHI NEW DELHI 110 001. 110 001. 110 001. 110 001. PAN : AAACP3682N. PAN : AAACP3682N. PAN : AAACP3682N. PAN : AAACP3682N. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI JAGDISH SINGH, SENIOR DR. RESPONDENT BY : SH RI S. KRISHNAN, ADVOCATE. DATE OF HEARING : 19 1919 19.06.2020 .06.2020 .06.2020 .06.2020 DATE OF PRONOUNCEMENT : 19.06.2020 19.06.2020 19.06.2020 19.06.2020 ORDER ORDER ORDER ORDER PER G.S. PANNU PER G.S. PANNU PER G.S. PANNU PER G.S. PANNU, , , , VP VPVP VP : :: : THIS APPEAL BY THE REVENUE FOR THE ASSESSMENT YEAR 2010-11 IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(A)-7, NEW DELHI DATED 24 TH JULY, 2017. 2. AT THE TIME OF HEARING BEFORE US, IT WAS SUBMITT ED BY THE LEARNED COUNSEL FOR THE ASSESSEE THAT THE TAX EFFECT IN THI S APPEAL BY THE REVENUE IS BELOW `50 LAKHS. THE CBDT IN ITS CIRCUL AR NO.17/2019 DATED 8 TH AUGUST, 2019 HAS REVISED THE MONETARY LIMIT FOR FI LING OF THE DEPARTMENTAL APPEALS TO THE ITAT AT `50 LAKHS. 3. LEARNED SENIOR DR AGREED THAT THE TAX EFFECT IN THIS APPEAL OF THE REVENUE IS BELOW `50 LAKHS. ITA-6382/DEL/2017 2 4. IN VIEW OF THE ABOVE POSITION, WE DEEM IT PROPER TO DISMISS THE APPEAL OF THE REVENUE IN THE LIGHT OF THE CIRCULAR NO.17/2019 OF THE CBDT DATED 8 TH AUGUST, 2019, AS NOT MAINTAINABLE. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ABOVE DECISION WAS ANNOUNCED IN THE PRESENCE OF BOT H THE PARTIES ON CONCLUSION OF VIRTUAL HEARING ON 19 TH JUNE, 2020. SD/- SD/- ( (( ( SUDHANSHU SRIVASTAVA SUDHANSHU SRIVASTAVA SUDHANSHU SRIVASTAVA SUDHANSHU SRIVASTAVA ) )) ) (G.S. PANNU (G.S. PANNU (G.S. PANNU (G.S. PANNU ) )) ) JUDICIAL JUDICIAL JUDICIAL JUDICIAL MEMBER MEMBER MEMBER MEMBER VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VK. COPY FORWARDED TO: - 1. APPELLANT : ADDITIONAL COMMISSIONER OF INCOME TAX, ADDITIONAL COMMISSIONER OF INCOME TAX, ADDITIONAL COMMISSIONER OF INCOME TAX, ADDITIONAL COMMISSIONER OF INCOME TAX, SPECIAL RANGE SPECIAL RANGE SPECIAL RANGE SPECIAL RANGE- -- -7, N 7, N 7, N 7, NEW DELHI. EW DELHI. EW DELHI. EW DELHI. 2. RESPONDENT : M/S PNB HOUSING FINANCE LIMITED, M/S PNB HOUSING FINANCE LIMITED, M/S PNB HOUSING FINANCE LIMITED, M/S PNB HOUSING FINANCE LIMITED, 9 99 9 TH THTH TH FLOOR, ANTRIKSH BHAWAN, 22, K.G. MARG, FLOOR, ANTRIKSH BHAWAN, 22, K.G. MARG, FLOOR, ANTRIKSH BHAWAN, 22, K.G. MARG, FLOOR, ANTRIKSH BHAWAN, 22, K.G. MARG, NEW DELHI NEW DELHI NEW DELHI NEW DELHI 110 001. 110 001. 110 001. 110 001. 3. CIT 4. CIT(A) 5. DR, ITAT ASSISTANT REGISTRAR