Joint Commissioner of Income Tax (OSD) Central Circle-1(3), Bangalore V. M/s Vikas Telecom Limited , Bangalore

ITA 771/BANG/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 7730 (ITAT-BANGALORE)
• Duration Of Justice: 9 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-01-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 28-11-2019
• Assessment Year: 2012-2013
• Appeal Filed On: 12-04-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: ANUSHREE
• Keywords: Earning of tax free income; Tax effect
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, AM AND SHRI PAVAN KUMAR GADALE, JM ITA NO. 771/BANG/2019 ASSESSMENT YEAR : 2012 13 JCIT (OSD), CENTRAL CIRCLE 1 (3), BANGALORE VS. M/S VIKAS TELECOM LTD., FIRST FLOOR, EMBASSY POINT, 150, INFANTRY ROAD, BANGALORE 560001. PAN: AABCV4966E APPELLANT RESPONDENT ASSESSEE BY : MS ANUSHREE, C. A. REVENUE BY : S HRI SUNIL KUMAR AGARWAL , ADDL. CIT DR DATE OF HEARING : 28 . 1 1 .20 19 DATE OF PRONOUNCEMENT : 29 . 0 1.20 20 O R D E R PER SHRI A.K. GARODIA, AM: THIS APPEAL IS FILED BY THE REVENUE AND IT IS DIRECTED AGAINST THE ORDER OF CIT(A) 13 NEW DELHI DATED 12.12.2018 FOR A. Y. 2012 13. 2. THE REVENUE HAS RAISED ONLY ONE GROUND AS PER WHICH THE GRIEVANCE OF THE REVENUE IS ABOUT DELETION OF THE ADDITION MADE BY THE AO OF RS. 150,30,121/- U/S 14A. 3. IN COURSE OF HEARING, LEARNED DR OF THE REVENUE SUPPORTED THE ASSESSMENT ORDER AND LEARNED AR OF THE ASSESSSEE SUPPORTED THE ORDER OF CIT (A). HE POINTED OUT THAT ON PAGE 13 OF HIS ORDER, IT IS OBSERVED BY CIT (A) THAT IT IS NOT DISPUTED THAT THE ASSESSEE DID NOT EARN ANY EXEMPT INCOME AND HE FOLLOWED THE JUDGMENT OF HONBLE DELHI HIGH COURT RENDERED IN THE CASE OF M/S CHEMIFINVEST LTD. VS. CIT AS REPORTED IN 317 ITR 86. HE ALSO SUBMITTED THE TAX EFFECT IN THIS APPEAL OF REVENUE IS BELOW RS. 50 LACS AND THEREFORE, BECAUSE OF LOW TAX EFFECT ALSO, THIS APPEAL OF THE REVENUE IS NOT MAINTAINABLE. ITA NOS.771(B)/2019 PAGE 2 OF 2 4. WE HAVE CONSIDERED RIVAL SUBMISSIONS. RESPECTFULLY FOLLOWING THE JUDGMENT OF HONBLE DELHI HIGH COURT RENDERED IN THE CASE OF M/S CHEMIFINVEST LTD. VS. CIT (SUPRA), WE DECLINE TO INTERFERE IN THE ORDER OF CIT (A). 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/- SD/- (PAVAN KUMAR GADALE) (ARUN KUMAR GARODIA) JUDICIAL MEMBER ACCOUNTANT MEMBER BANGALORE, DATED, THE 29 TH JANUARY, 2020. /NS/ AKG COPY TO: 1. APPELLANT 4. CIT (A) 2. RESPONDENT 5. DR, ITAT, BANGALORE 3. CIT 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, BANGALORE.