Assisttant Commissioner of Income-Tax, Kolhapur V. M/s. Warana Industries Ltd, Kolhapur

ITA 697/PUN/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 6798 (ITAT-PUNE)
• Duration Of Justice: 3 year(s) 9 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-01-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 14-01-2021
• Assessment Year: 2011-2012
• Appeal Filed On: 23-03-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S P WALIMBE
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, PUNE (THROUGH VIRTUAL COURT) BEFORE SHRI INTURI RAMA RAO, AM AND SHRI PARTHA SARATHI CHAUDHURY, JM . / ITA NO.697/PUN/2017 / ASSESSMENT YEAR : 2011-12 ACIT, CIRCLE-1, KOLHAPUR. ....... / APPELLANT / V/S. M/S. WARANA INDUSTRIES LTD., TATYASAHEB KORENAGAR, WARANA NAGAR, PANHALA, KOLHAPUR-416003. PAN : AAACW1694H / RESPONDENT C.O. NO.20/PUN/2019 (ARISING OUT OF ITA NO.697/PUN/2017) / ASSESSMENT YEAR : 2011-12 M/S. WARANA INDUSTRIES LTD., TATYASAHEB KORENAGAR, WARANA NAGAR, PANHALA, KOLHAPUR-416003. PAN : AAACW1694H ....... / APPELLANT / V/S. ACIT, CIRCLE- KOLHAPUR, KOLHAPUR. / RESPONDENT REVENUE BY : SHRI S. P. WALIMBE ASSESSEE BY : SHRI S. N. PURANIK / DATE OF HEARING : 14.01.2021 / DATE OF PRONOUNCEMENT : 14.01.2021 / ORDER THE APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS)-2, KOLHAPUR (CIT(A) FOR SHORT) DATED 2 ITA NO.697/PUN/2017 C.O. NO.20/PUN/2019 05.01.2017 FOR THE ASSESSMENT YEAR 2011-12. THE ASSESSEE FILED THE CROSS OBJECTION AGAINST THE APPEAL FILED BY THE REVENUE. ITA NO.697/PUN/2017 BY REVENUE 2. IT IS STATED BEFORE US THAT THE TAX EFFECT IN THE PRESENT APPEAL IS LESS THAN RS.50 LAKHS AND THEREFORE, THE CIRCULAR NO.17/2019 DATED 08.08.2019 ISSUED BY THE CENTRAL BOARD OF DIRECT TAXES (CBDT) IN EXERCISE OF ITS POWER VESTED UNDER SEC.268A(1) OF THE IT ACT COMES INTO PLAY WHEREIN, THE MONETARY LIMIT FOR FILING THE APPEAL BY THE REVENUE BEFORE THE ITAT AND VARIOUS HIGH COURTS AS WELL AS APEX COURT ARE REVISED WITH AN OBJECT OF REDUCING THE TAX LITIGATION. VIDE PARA 3 OF THE SAID CIRCULAR (SUPRA) IT IS STATED THAT IN CASES WHERE THE TAX EFFECT IN THE APPEALS TO BE FILED BEFORE THE APPELLATE TRIBUNAL DOES NOT EXCEED RS.50 LAKHS APPEALS SHOULD NOT BE FILED. THUS, TAKING A NOTE OF CBDT CIRCULAR NO.17/2019, DATED 08.08.2019 AND CONSIDERING THE FACT THAT THE TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN RS.50 LAKHS, THE PRESENT APPEAL DESERVES TO BE DISMISSED AS NOT PRESSED / NOT MAINTAINABLE. HOWEVER, WE MAKE IT CLEAR THAT THE ISSUES RAISED IN THE INSTANT APPEAL ARE LEFT OPEN TO BE EXAMINED IN THE APPROPRIATE PROCEEDINGS, IF ARISES, IN FUTURE. AT THE SAME TIME, WE ALSO MAKE IT CLEAR THAT IF THE APPEAL FALLS IN ANY OF THE EXCEPTIONS REFERRED TO IN THE ABOVE SAID CBDT CIRCULAR, THE REVENUE IS AT LIBERTY TO MOVE AN APPLICATION FOR RECALLING THE ORDER IF SO ADVISED. ACCORDINGLY, IN THE LIGHT OF CBDT CIRCULAR NO.17/2019 DATED 08/08/2019, THE APPEAL FILED BY THE REVENUE STANDS DISMISSED. 3. IN THE RESULT, THE APPEAL FILED BY THE REVENUE STANDS DISMISSED. 3 ITA NO.697/PUN/2017 C.O. NO.20/PUN/2019 C.O. NO.20/PUN/2019 BY ASSESSEE 4. SINCE THE APPEAL OF THE REVENUE IS BEING DISMISSED, THE CROSS OBJECTION FILED BY THE ASSESSEE HAS BECOME INFRUCTUOUS. 5. TO SUMMARIZE THE RESULTS, THE APPEAL OF THE REVENUE AS WELL AS THE CROSS OBJECTION OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 14 TH DAY OF JANUARY, 2021. SD/- SD/- (PARTHA SARATHI CHAUDHURY) (INTURI RAMA RAO) / JUDICIAL MEMBER / ACCOUNTANT MEMBER / PUNE; / DATED : 14 TH JANUARY, 2021. SUJEET / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE CIT(A)-2, KOLHAPUR. 4. THE PR. CIT-2, KOLHAPUR. 5. , , , / DR, ITAT, A BENCH, PUNE. 6. / GUARD FILE. / BY ORDER, // TRUE COPY // SENIOR PRIVATE SECRETARY , / ITAT, PUNE.