ITO, CORPORATE WARD - 4 (4), CHENNAI V. M/S. LIFESTYLE SERENITY PVT. LTD., CHENNAI

ITA 734/CHNY/2020

AI Insights

The case involves an appeal by the Revenue against M/s. Lifestyle Serenity Pvt. Ltd. concerning an assessment order for the Assessment Year 2015-16. The appeal was based on the order of the Commissioner of Income Tax (Appeals)-8, Chennai. The primary contention was the tax effect involved, which was below the threshold of Rs. 50.00 lakhs as specified in the CBDT Circular No. 17/2019. Both the Assessee and the Revenue agreed on the applicability of the circular, leading to the dismissal of the appeal.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 135079 (ITAT-CHENNAI)
• Duration Of Justice: 2 year(s) 5 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-01-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 31-01-2023
• Assessment Year: 2015-2016
• Appeal Filed On: 20-08-2020
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

आयकर अपीलीय अिधकरण, ‘सी’ यायपीठ, चे ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI ी महावीर सह, उपा य एवं ी मनोज कुमार अ वाल, लेखा सद य के सम BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.734/Chny/2020 िनधा रण वष /Assessment Year: 2015-16 The Income Tax Officer, Corporate Ward-4(4), Chennai. Vs. M/s. Lifestyle Serenity Pvt. Ltd., Old No. 2,3,4, 2 nd Floor, Halls Road, Egmore, Chennai – 600 008. [PAN: AACCL-7220-L] ( अपीलाथ /Appellant) ( यथ /Respondent) अपीलाथ की ओर से/ Assessee by : Shri D. Anand, Advocate थ की ओर से /Revenue by : Shri M. Rajan , CIT & Ms. Jancy Elizabeth, JCIT सुनवाई क तारीख/Date of Hearing : 01.02.2023 घोषणा क तारीख /Date of Pronouncement : 01.02.2023 आदेश / O R D E R Per Mahavir Singh, Vice President : This appeal by the Revenue is arising out of the order of Commissioner of Income Tax (Appeals)-8, Chennai, in ITA No.28CIT(A)-8/2017-18 dated 21.02.2020 for the Assessment Year 2015-16. The Assessment was framed by Income Tax Officer, Corporate Ward-4(4), Chennai u/s. 143(3) of the Income Tax Act, 1961 (hereinafter ‘the Act’) vide order dated 28.08.2017. ITA No.734/Chny/2020 :- 2 -: 2. At the outset the Ld. AR for the assessee pointed out that the tax effect in this appeal is below Rs.50.00 lakhs. The learned AR for the assessee further submitted that in view of the CBDT Circular No.17/2019, dated 08.08.2019 brought out by the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, the appeal was not maintainable and be dismissed. The Ld. DR also agreed to the facts stated by the Ld.AR for the assessee. In view of the CBDT Circular No. 17/2019 dated 08.08.2019 no appeal should be filed by the Revenue before the Tribunal which has tax effect of Rs. 50.00 lakhs or less and this circular is also applicable retrospectively to all pending appeals, the appeal filed by the Revenue is dismissed as not-maintainable. 3. In the result, the appeal filed by the Revenue is dismissed. Order pronounced in the open Court on 01 st February, 2023. Sd/- Sd/- (मनोज मनोजमनोज मनोज कुमार कुमारकुमार कुमार अ वाल अ वालअ वाल अ वाल) (Manoj Kumar Aggarwal) लेखा लेखालेखा लेखा सद य सद यसद य सद य /Accountant Member (महावीर िसंह) (Mahavir Singh) उपा / Vice President चे ई/Chennai, दनांक/Dated: 01 st February, 2023 EDN/- आदेश क ितिलिप अ ेिषत/Copy to: 1. अपीलाथ /Appellant 2. यथ /Respondent 3. आयकर आयु (अपील)/CIT(A) 4. आयकर आयु /CIT 5. िवभागीय ितिनिध/DR 6. गाड फाईल/GF