INCOME TAX OFICER WARD -2, PHAGWARA V. SHRI SUKHDEV SINGH S/O SHRI SUCHA SINGH, PHILLAUR

ITA 770/ASR/2017

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 3629 (ITAT-AMRITSAR)
• Duration Of Justice: 4 year(s) 4 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-04-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2009-2010
• Appeal Filed On: 20-12-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect; Tax effect
• Section: 250

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No. 770/Asr/2017 Assessment Year: 2009-10 Income Tax Officer Ward-2, Phagwara Vs. Sh. Sukhdev Singh, S/o Sucha Singh, Presently at C-66, Surya Nagar, Ghaziabad, UP Earlier at VPO Surja, Phillaur (Punjab) [PAN: ABBPS 0078E] (Appellant) (Respondent) Appellant by : Sh. P. N. Arora, Adv. Respondent by: Sh. S. M. Surdendranath, Sr. DR Date of Hearing: 21.03.2022 Date of Pronouncement: 27.04.2022 ORDER Per Anikesh Banerjee, JM: The above appeal is filed by the revenue against the order of learned Commissioner of Income Tax (Appeal)–2, Jalandhar, bearing appeal no- 2/10380/16 –17/CIT (A)/Jal, Date of Order 21.09.2017, passed under section 250 (6) of the Income Tax Act, 1961 for assessment year 2009 – 10. 2. The Learned Counsel of the Assessee pointed out that the instant appeal was filed by the Revenue against the deletion of addition of long term capital again amount of Rs.1,90,18,000/- which is yielding tax at the rate of 20% which is amount of Rs. 38,03,600/- which is below the monetary limit as prescribed in the ITA No. 770/Asr/2017 ITO v. Sukhdev Singh 2 circular no 17/2019, F No.279/Misc. 142/207-ITJ(Pt) dated 08/08/2019. . The copy of the circular is reproduced as below:- ITA No. 770/Asr/2017 ITO v. Sukhdev Singh 3 ITA No. 770/Asr/2017 ITO v. Sukhdev Singh 4 3. In the view of the above we find that the issue raised by the revenue related to tax effect is below the monetary limit as prescribed by the CBDT. With the consent of the ld DR the appeal of the revenue is rejected due to low tax effect. . 4. In the result, the appeal of the Revenue is dismissed. Order pronounced in the open court on 27.04.2022 Sd/- Sd/- (Dr. M. L. Meena) (Anikesh Banerjee) Accountant Member Judicial Member Date: 27.04.2022 *GP/Sr. PS* Copy of the order forwarded to: (1) The Appellant: (2) The Respondent: (3) The CIT(A), (4) The CIT concerned (5) The Sr. DR, I.T.A.T (6) The Guard File ITA No. 770/Asr/2017 ITO v. Sukhdev Singh 5 True Copy By Order