DCIT, Circle-12, Kolkata, Kolkata V. M/s IFB Automotive Pvt. Ltd., Kolkata

ITA 69/KOL/2014

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 4767 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 6 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-08-2016
• Appeal Filed By: Department
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 15-01-2014
• Court: TRIBUNAL
• Assessee Lawyers: DR SOMNATH GHOSH
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH: KOL KATA [BEFORE SHRI N. V. VASUDEVAN, JM & SHRI M. BALAGAN ESH, AM] I.T.A NO.69/KOL/2014 ASSESSMENT YEAR: 2008-09 DEPUTY COMMISSIONER OF INCOME-TAX, VS. M/S. IFB A UTOMOTIVE PVT. LTD. CIRCLE-12, KOLKATA. (PAN: AABCI2766H) ( APPELLANT ) ( RESPONDENT ) DATE OF HEARING: 19.07.2016 DATE OF PRONOUNCEMENT: 03.08.2016 FOR THE APPELLANT: SHRI SALLONG YADEN, ADDL. CIT FOR THE RESPONDENT: DR. SOMNATH GHOSH, FCA ORDER PER SHRI M. BALAGANESH, AM: THIS APPEAL BY REVENUE IS ARISING OUT OF ORDER OF C IT(A)-XII, KOLKATA VIDE APPEAL NO. 467/XII/CIR-12/10-11 DATED 07.10.2013. ASSESSMENT WAS FRAMED BY ADDL.CIT, RANGE-12, KOLKATA U/S. 143(3) OF THE INCOME-TAX ACT, 1961 (HE REINAFTER REFERRED TO AS THE ACT) FOR ASSESSMENT YEAR 2008-09 VIDE HIS ORDER DATED 27.12. 2010. 2. AT THE OUTSET, IT IS SEEN THAT THE QUANTUM INVO LVED IN THIS CASE IS RS.25,91,271/-AND TAX EFFECT ON THE DISPUTED ADDITION BEFORE US IS RS.9,0 6,979/-, WHICH IS LESS THAN RS. 10 LACS. 3. AFTER PERUSING THE MATERIALS AVAILABLE ON RECOR D, WE FIND THAT THE ADDITIONS DISPUTED BEFORE US IS BELOW THE TAX EFFECT LIMIT PRESCRIBED BY CBDT VIDE CIRCULAR NO. 21 / 2015 DATED 10.12.2015 FOR PREFERRING APPEALS BEFORE TRIBUNAL B Y THE REVENUE. ON PERUSAL OF THE CIRCULAR NO. 21 / 2015 DATED 10.12.2015 AND THE MATERIALS AV AILABLE ON RECORD, LD. DR COULD NOT POINT OUT WHETHER THIS CASE FALLS UNDER ANY OF THE EXCEPT ION AS PROVIDED IN THE CIRCULAR DESPITE SPECIFIC OPPORTUNITY WAS GIVEN, DOES NOT FALL UNDER ANY OF T HE EXCEPTIONS CONTEMPLATED IN THE SAID CIRCULAR, AS THIS IS COVERED. WE ALSO FIND THAT TH E CIRCULAR MAKES IT VERY CLEAR THAT THE REVISED MONETARY LIMITS SHALL APPLY RETROSPECTIVELY TO PEND ING APPEALS ALSO. WE FIND THAT THE CIRCULAR IS BINDING ON THE TAX AUTHORITIES. THIS POSITION HAS B EEN CONFIRMED BY THE HONBLE APEX COURT IN THE CASE OF COMMISSIONER OF CUSTOMS VS INDIAN OIL C ORPORATION LTD REPORTED IN 267 ITR 272 (SC). HENCE, WE HOLD THAT THE APPEAL OF THE REVENUE DESE RVES TO BE DISMISSED IN TERMS OF LOW TAX EFFECT VIDE CIRCULAR NO.21 / 2015 DATED 10.12.2 015. ACCORDINGLY, THIS BEING A LOW TAX 2 ITA NO.69/K/2014 IFB AUTOMOTIVE PVT. LTD. AY 2008-09 EFFECT CASE, WE DISMISS THIS APPEAL OF REVENUE IN L IMINE, AS UNADMITTED, WITHOUT GOING INTO THE MERITS OF THE CASE. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 03.08.2016. SD/- SD/- (N. V. VASUDEVAN) (M. BALAGANESH) JUDICIAL MEMBER ACCOUNTAN T MEMBER DATED : 3 RD AUGUST, 2016 JD.(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1 . APPELLANT DCIT, CIRCLE-12, KOLKATA 2 RESPONDENT M/S. IFB AUTOMOTIVE PVT. LTD., 14, TAR ATOLLA ROAD, KOLKATA-700 088. 3 . THE CIT(A), KOLKATA 4. 5. ACIT , KOLKATA DR, KOLKATA BENCHES, KOLKATA / TRUE COPY, BY ORDER, ASSTT. REGISTRAR .