ITO, Panchkula V. Smt. Manisha Saggi, Panchkula

ITA 669/CHANDI/2014

• Counselvise Citation: [2016] 121 COUNSELVISE.COM (IT) 2563 (ITAT-CHANDIGARH)
• Duration Of Justice: 1 year(s) 6 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 01-10-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 15-07-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MANJIT SINGH
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, CHANDIGARH BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND MS. ANNAPURNA MEHROTRA, ACCOUNTANT MEMBER ITA NO.669/CHD/2014 ASSESSMENT YEAR:2008-09 THE ITO, VS. SMT. MANISHA SAGGI WARD-2 FLAT NO. J-239, SHIKHAR APARTMENT PANCHKULA GH 2, SECTOR5, MDC PANCHKULA PAN NO. BMAPS0858R (APPELLANT) (RESPONDENT) APPELLANT BY : SH. MANJIT SINGH RESPONDENT BY : SH. PARIKSHIT AGGARWAL DATE OF HEARING : 20/01/2016 DATE OF PRONOUNCEMENT : 20/01/2016 ORDER PER ANNAPURNA MEHROTRA A.M. THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINS T THE ORDER OF CIT(A)-, PANCHKULA DATED 21.05.2014 RELATING TO ASSESSMENT YEAR 2008-09. 2. IN THIS APPEAL THE REVENUE HAS RAISED THE FOLLOW ING GROUNDS:- 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E THE LD. CIT(A) HAS ERRED IN DELETING THE PENALTY OF RS. 6,2 0,170/- IMPOSED BY THE A.O. U/S 271(1)(C) OF THE I.T. ACT, 1961, IG NORING THE FACT THAT THE ASSESSEE HAS CONCEALED INCOME EARNED FROM FOREIGN BANKS AMOUNTING TO RS. 15,00,000/-. 2.IT IS PRAYED THAT THE ORDER OF THE LD. CIT(APPEAL S) BE SET-ASIDE AND THAT OF THE A.O. BE RESTORED . 3. WE HAVE HEARD LD. DR. IT IS OBSERVED THAT IN TH IS CASE THE TAX EFFECT DOES NOT EXCEED THE MONETARY LIMIT OF RS. 10 LAKHS. THUS, IN VIEW OF CIRCULAR NO. 21/2015 DATED 10.12.2015, F.NO . 279/MISC.142/2007-ITJ(PT), GOVERNMENT. OF INDIA, MI NISTRY OF FINANCE, DEPARTMENT OF REVENUE, CENTRAL BOARD OF DIRECT TAXE S, THE INSTANT APPEAL DESERVES TO BE TREATED AS WITHDRAWN / NOT PR ESSED. VIDE PARA 10 OF THE ABOVE INSTRUCTIONS, THE CBDT HAS CLA RIFIED THAT THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING A PPEALS AND APPEALS TO BE FILED HENCEFORTH IN ITAT. THE CBDT H AS FURTHER CLARIFIED THAT THE PENDING APPEALS BEFORE THE TRIBUNAL BELOW THE SPECIFIED TAX LIMITS I.E. RS. 10 LAKHS MAY BE WITHDRAWN / NOT PRESSED BY THE REVENUE. IT IS ALSO OBSERVED THAT THE ISSUES INVOL VED IN THIS APPEAL ARE NOT COVERED BY PARA 8 OF THE ABOVE INSTRUCTIONS . ACCORDINGLY, THE APPEAL FILED BY THE REVENUE IS TREATED AS WITHD RAWN / NOT PRESSED. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (BHAVNESH SAINI) (ANNAPURNA MEHROTRA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 20/01/2016 AG COPY TO: THE APPELLANT, THE RESPONDENT, THE CIT, TH E CIT(A), THE DR