ACIT, New Delhi V. Sh. Shridev Sharma, New Delhi

ITA 6549/DEL/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 7660 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 5 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-05-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 02-11-2015
• Assessment Year: 2004-2005
• Appeal Filed On: 06-12-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T VASANTHAN
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : D : NEW DELHI BEFORE SH. H.S. SIDHU , JUDICIAL M EMBER AND SH. O.P. KANT , ACCOUNTANT MEMBER ITA NO. 6549 /DEL/ 2013 ASSESSMENT YEAR: 2004 - 05 ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE - 24(1), ROO M NO. - 1305, 13 TH FLOOR, SPM CIVIC CENTRE, MINTO ROAD, NEW DELHI VS. SH. SHRIDEV SHARMA, L - 1/7, HAUZ KHAS ENCLAVE, NEW DELHI GIR/PAN : ABKPS477 0 N (APPELLANT) (RESPONDENT) APPELLANT BY SH. T. VASANTHAN, SR. DR RESPONDENT BY NONE DATE OF HEARING 25.05.2016 DATE OF PRONOUNCEMENT 27.05.2016 ORDER PER O.P. KANT, A. M. : THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LEARNED COMMISSIONER OF INCOME TAX(APPEALS) DATED 16.09.2013 IN RELATION TO ASSESSMENT YEAR 2004 - 05 , RAISING THE FOLLOWING GROUNDS OF APPEAL: 1. ON THE FACTS AND ON THE CIRCUMSTANCES OF THE CASE, THE LD CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS. 17,14.000/ - ON ACCOUNT OF UNEXPLAINED CASH. 2. ON THE FACTS AND ON THE CIRCUMSTANCES OF THE CASE, THE LD CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS. 17,14,000/ - ON ACCOUNT OF UNEXPLAINED CASH WHEREAS THE ASSESSEE HAS HIMSELF STATED IN HIS STATEMENTS THAT THIS MONEY WAS BORROWED BY HIM FROM M/S AHU RA HOLDINGS. HOWEVER, IN THE BOOKS OF ACCOUNTS OF THE ASSESSEE AS WELL AS OF M/S AHURA HOLDINGS NO SUCH ENTRY OF RS. 17,00,000/ - IS APPEARING, AS BEING CLAIMED BY THE ASSESSEE. 3. THE APPELLANT CRAVES LEAVE TO ADD. ALTER OR AMEND ANY OF THE GROUNDS OF APPEAL BEFORE OR DURING THE COURSE OF HEARING OF THE APPEAL.? 2 ITA NO. 6549/DEL/2013 AY: 2004 - 05 2. NONE PRESENT ON BEHALF OF THE ASSESSEE. WE HAVE HEARD LEARNED DEPARTMENTAL REPRESENTATIVE AND PERUSED THE RELEVANT MATERIAL ON RECORD . IT IS NOTICED THAT THE CBDT HAS ISSUED CIRCULAR NO. 21 OF 2015 DATED 10.12.2015 WITH RETROSPECTIVE EFFECT, REVISING THE MONETARY LIMIT TO RS.10,00,000/ - FOR NOT FILING APPEALS BEFORE THE TRIBUNAL. THE LD. SR. DEPARTMENTAL REPRESENTATIVE, ALTHOUGH SUPPORTED THE ORDER OF THE ASSESSING OFFICER, BUT COULD NOT CONTROVERT THE FACT THAT TAX EFFECT INVOLVED IN THE APPEAL IS LESS THAN RS.10,00,000/ - . 3. FROM PARA 10 OF THE ABOVE 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.10,00,000/ - . GOING BY THE PRESCRIPTION OF THE AFORE - NOTED CIRCULAR, WE ARE OF THE VIEW THAT THE REVENUE SHOULD HAVE EITHER NOT FILED THE INSTA NT APPEAL BEFORE THE TRIBUNAL OR WITHDRAWN THE SAME AS THE TAX EFFECT IN THIS APPEAL IS ADMITTEDLY LESS THAN THE PRESCRIBED LIMIT I.E. RS. 10,00,000/ - FOR NOT FILING THE APPEAL. ACCORDINGLY , WE DISMISS THE INSTANT APPEAL W ITHOUT GOING INTO MERITS OF THE CA SE. HOWEVER, THE DEPARTMENT IS AT LIBERTY TO FILE THE MISCELLANEOUS APPLICATION, IF THE TAX EFFECT IS MORE THAN THE PRESCRIBED LIMITED OF RS. 10 LACS OR OTHERWISE. 3 ITA NO. 6549/DEL/2013 AY: 2004 - 05 4. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DISMISSED. THE DECISION IS PRONOUNCED IN THE OPEN COURT ON 2 7 T H MAY , 2016 . S D / - S D / - ( H.S. SIDHU ) ( O.P. KANT ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 2 7 T H MAY , 2016 . RK/ - COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR ASST. REGISTRAR, ITAT, NEW DELHI