ITO (International Taxation) Ward - Kolkata , Kolkata V. M/s. J.K. Industries Ltd., , Kolkata

ITA 713/KOL/2018

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 6003 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 5 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-10-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2006-2007
• Appeal Filed On: 16-04-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUPRIYO PAL
• Assessee Lawyers: D S DAMLE
• Keywords: Tax effect

Judgement Text

1 ITA NO. 713/KOL/2018 J. K. INDUSTRIES LTD., AY- 2 006-07 , C , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: KOL KATA ( ) . . , . ' # $% % , '( ) [BEFORE SHRI A. T. VARKEY, JM & DR. A. L. SAINI, A M] I.T.A. NO. 713/KOL/2018 ASSESSMENT YEAR: 2006-07 INCOME-TAX OFFICER (INTERNATIONAL TAXATION), WARD-KOLKATA VS. M/S. J. K. INDUSTRIES LTD. (PAN: AAACJ6716F) APPELLANT RESPONDENT DATE OF HEARING 23.09.2019 DATE OF PRONOUNCEMENT 01.10.2019 FOR THE APPELLANT SHRI SUPRIYO PAL, JCIT, SR. DR FOR THE RESPONDENT SHRI D. S. DAMLE, FCA ORDER PER SHRI A.T.VARKEY, JM THIS APPEAL PREFERRED BY THE REVENUE IS AGAINST THE ORDER OF THE LD. CIT(A)-22, KOLKATA DATED 30.01.2018 FOR AY 2006-07. 2. AT THE OUTSET ITSELF, THE LD. COUNSEL FOR THE AS SESSEE SHRI D. S. DAMLE, FCA POINTED OUT THAT THIS IS A REVENUE APPEAL AND THE TAX EFFEC T IS LESS THAN RS. 50 LACS, THEREFORE, THE REVENUE SHOULD EITHER WITHDRAW THE APPEAL OR IT SHO ULD BE DISMISSED AS WITHDRAWN AND CITED THE CBDT CIRCULAR NO. 17/2019 DATED 08.08.2019. IT WAS POINTED OUT TO US THAT THE ISSUE IN RESPECT OF WHICH THE APPEAL IS PREFERRED INVOLVES T AX DEMAND OF EURO 23196.96 AND THIS AMOUNT EVEN AS PER THE CURRENT PREVAILING EXCHANGE RATE OF EURO @ RS.82/-, THEN ALSO THE TAX DEMAND WORKS OUT TO BE LESS THAN RS. 50 LACS. THE LD. DR SHRI SUPRIYO PAL WHO WAS IN ATTENDANCE BEFORE THIS BENCH SUBMITTED THAT THIS CA SE IS NOT EARMARKED TO HIM BEING AN INTERNATIONAL TAXATION MATTER. HOWEVER, WE TAKING N OTE THAT THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LESS THAN RS.50 LACS, WE T REAT THE REVENUE APPEAL TO FALL IN THE KEN OF CBDT CIRCULAR (SUPRA) AND SO WE DISMISS IT AS WI THDRAWN. HOWEVER, THE REVENUE IS AT 2 ITA NO. 713/KOL/2018 J. K. INDUSTRIES LTD., AY- 2 006-07 LIBERTY TO PREFER MISC. APPLICATION TO RECALL THIS ORDER PROVIDED IT FALLS UNDER ANY OF THE EXCEPTION CLAUSES CITED IN THE CBDT CIRCULAR (SUPRA ). 3. IN THE RESULT, THE APPEAL OF REVENUE IS DISMISSE D. ORDER IS PRONOUNCED IN THE OPEN COURT. SD/- (DR. A. L. SAINI) SD/- (ABY. T. VARKEY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 1 ST OCTOBER, 2019 JD.(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1. APPELLANT ITO (INTERNATIONAL TAXATION), WARD-K OLKATA 2 RESPONDENT M/S. J. K. INDUSTRIES LTD., 7, COUNC IL HOUSE STREET, KOLKATA-700 001. 3. 4. 5. CIT(A)-22, KOLKATA. CIT , KOLKATA DR, ITAT, KOLKATA. (SENT THROUGH E-MAIL) / TRUE COPY, BY ORDER, ASSISTANT REGISTRAR