DCIT, CIR-40, KOLKATA, Kolkata V. Balaji Agro International, Kolkata

ITA 774/KOL/2015

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 6301 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 11 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-05-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2009-2010
• Appeal Filed On: 29-05-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SAURABH KUMAR
• Assessee Lawyers: B K PODDAR
• Keywords: Tax effect

Judgement Text

1 ITA NO.774/KOL/2015 BALAJI AGRO INTERNATIONAL, AY- 2009-10 , C , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: KOL KATA ( ) BEFORE . . , /AND . , ) [BEFORE SHRI A. T. VARKEY, JM & SHRI M.BALAGANESH, AM] I.T.A. NO. 774/KOL/2015 ASSESSMENT YEAR: 2009-10 DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-40, KOLKATA. VS. BALAJI AGRO INTERNATIONAL (PAN:AACFB7572J) APPELLANT RESPONDENT DATE OF HEARING 21.02.2018 DATE OF PRONOUNCEMENT 09.05.2018 FOR THE APPELLANT SHRI SAURABH KUMAR, ADDL. CIT, SR . DR FOR THE RESPONDENT SHRI B. K. PODDAR, FCA ORDER PER SHRI A.T.VARKEY, JM THE APPEAL FILED BY THE REVENUE IS AGAINST THE ORDE R OF LD. CIT(A)-12, KOLKATA DATED 26.03.2015 FOR AY 2009-10. 2. WE NOTE THAT DURING HEARING, THE APPEAL WAS ARGU ED ON MERITS BY BOTH THE PARTIES GROUND WISE. HOWEVER, AT THE TIME OF GIVING DICTATI ON, WE NOTE THAT THE ASSESSEE DECLARED TOTAL INCOME OF RS.2,76,85,222/- AND THE AO U/S. 1 43(3) OF THE ACT ASSESSED IT AT RS.3,00,16,168/-, WHICH MEANS THE AO MADE ADDITION OF RS. 23,30,946/- WHICH HAS BEEN DELETED BY THE LD. CIT (A) AGAINST WHICH DEPARTMENT IS IN APPEAL BEFORE US. SO WE NOTE THAT THE TAX EFFECT FOR DELETION OF RS 23,30,946/- IS BE LOW RS 10 LAKHS AND RESULTANTLY THE APPEAL OF THE REVENUE FALLS IN THE KEN OF THE CBDT CIRCULA R NO. 21/2015 DATED 10.12.2015, WHEREIN THE CBDT HAS DIRECTED THE DEPARTMENT TO WITHDRAW/NO T PRESS THE APPEAL IF THE TAX EFFECT IS LESS THAN RS. 10 LACS BEFORE THE ITAT. ON PERUSAL OF THE CIRCULAR NO. 21 / 2015 DATED 10.12.2015 AND THE MATERIALS AVAILABLE ON RECORD, W E FIND THAT THE REVENUES CASE DOES NOT FALL UNDER ANY OF THE EXCEPTION CLAUSE AS PROVIDED IN THE CIRCULAR, AS THIS IS COVERED. WE ALSO FIND THAT THE CIRCULAR MAKES IT VERY CLEAR THAT THE REVISED MONETARY LIMITS SHALL APPLY RETROSPECTIVELY TO PENDING APPEALS ALSO. WE FIND TH AT THE CIRCULAR IS BINDING ON THE TAX 2 ITA NO.774/KOL/2015 BALAJI AGRO INTERNATIONAL, AY- 2009-10 AUTHORITIES. THIS POSITION HAS BEEN CONFIRMED BY TH E HONBLE APEX COURT IN THE CASE OF COMMISSIONER OF CUSTOMS VS INDIAN OIL CORPORATION L TD REPORTED IN 267 ITR 272 (SC). HENCE, WE HOLD THAT THE APPEAL OF THE REVENUE DESER VES TO BE DISMISSED IN TERMS OF LOW TAX EFFECT VIDE CIRCULAR NO.21 / 2015 DATED 10.12.2015. ACCORDINGLY, THIS BEING A LOW TAX EFFECT CASE, WE DISMISS THIS APPEAL OF REVENUE IN LIMINE, AS UNADMITTED, WITHOUT GOING INTO THE MERITS OF THE CASE. IN CASE THE REVENUE LATER FIND S THAT THE TAX EFFECT IS MORE THAN RS. 10 LAKHS THEN IT IS AT LIBERTY TO MOVE APPROPRIATE APP LICATION TO RECALL THIS ORDER. WITH THIS CAVEAT, WE ARE INCLINED TO DISMISS THIS APPEAL OF T HE REVENUE ON THE GROUND THAT IT IS BELOW THE TAX EFFECT OF LESS THAN RS.10 LAKH. 3. IN THE RESULT, APPEAL OF REVENUE IS DISMISSED. ORDER IS PRONOUNCED IN THE OPEN COURT ON 09.05.2018 SD/- SD/- (M. BALAGANESH) (ABY. T. VARKEY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 9TH MAY, 2018 JD.(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1. APPELLANT DCIT, CIRCLE-40, KOLKATA. 2 RESPONDENT BALAJI AGRO INTERNATIONAL, 10, PRINC EP STREET, KOLKATA-700 072. 3. THE CIT(A) KOLKATA. 4. 5. CIT KOLKATA. DR, ITAT, KOLKATA. / TRUE COPY, BY ORDER, SR. PVT. SECRETARY