ACIT, Circle - 56, Kolkata, Kolkata V. The SBI Staff Association Co-opt. Society Ltd., Kolkata

ITA 820/KOL/2011

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 5122 (ITAT-KOLKATA)
• Duration Of Justice: 4 year(s) 7 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2004-2005
• Appeal Filed On: 30-05-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NIRAJ KUMAR
• Assessee Lawyers: B K GHOSH; PIJUSH DE
• Keywords: Tax effect

Judgement Text

I.T.A. NO. 820/KOL./2011 ASSESSMENT YEAR: 2004-2005 & C.O. NO. 49/KOL/2011 (ARISING OUT OF ITA NO. 820/KOL/2011) ASSESSMENT YEAR : 2004-2005 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA A BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER I.T.A. NO. 820/KOL/ 2011 ASSESSMENT YEAR: 2004-2005 ASSISTANT COMMISSIONER OF INCOME TAX,.............. .................APPELLANT CIRCLE-56, KOLKATA, 3, GOVERNMENT PLACE (WEST), KOLKATA-700 001 -VS.- THE SBI STAFF ASSOCIATION COOPERATIVE SOCIETY LTD., ............RESPONDENT 11, ABDUL HAMID STREET, KOLKATA-700 069 [PAN : AADTS 2489 J] & C.O. NO. 49/KOL/2011 (IN I.T.A. NO. 820/KOL/ 2011) ASSESSMENT YEAR: 2004-2005 THE SBI STAFF ASSOCIATION COOPERATIVE SOCIETY LTD., ............CROSS OBJECTOR 11, ABDUL HAMID STREET, KOLKATA-700 069 [PAN : AADTS 2489 J] -VS.- ASSISTANT COMMISSIONER OF INCOME TAX,.............. .................RESPONDENT CIRCLE-56, KOLKATA, 3, GOVERNMENT PLACE (WEST), KOLKATA-700 001 APPEARANCES BY: SHRI NIRAJ KUMAR, CIT, D.R., FOR THE DEPARTMENT SHRI B.K. GHOSH, FCA & SHRI PIJUSH DE, FCA, FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : JANUARY 14, 2016 DATE OF PRONOUNCING THE ORDER : JANUARY 14, 2016 O R D E R PER SHRI P.M. JAGTAP :- THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-XXXVI, KOLKATA DATED 14.03.2011 FOR THE ASSESSMENT YEAR 2004-05 AND THE SAME IS BEI NG DISPOSED OF ALONG WITH CROSS OBJECTION FILED BY THE ASSESSEE BEING C. O. NO. 49/KOL/2011. I.T.A. NO. 820/KOL./2011 ASSESSMENT YEAR: 2004-2005 & C.O. NO. 49/KOL/2011 (ARISING OUT OF ITA NO. 820/KOL/2011) ASSESSMENT YEAR : 2004-2005 PAGE 2 OF 3 2. AS POINTED OUT BY THE LD. COUNSEL FOR THE ASSESS EE, AT THE OUTSET, THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE I S LESS THAN THE REVISED MONETARY LIMIT RECENTLY FIXED BY THE CBDT VIDE CIRC ULAR NO. 21/2015 DATED 10 TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE AP PEAL BY THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION CLEAR LY EVIDENT FROM THE GROUNDS RAISED BY THE REVENUE IN THIS APPEAL IS NOT DISPUTED EVEN BY THE LD. D.R. IN CIRCULAR NO. 21/2015 (SUPRA) RECENTLY I SSUED BY THE CBDT, THE MONETARY LIMIT FOR FILING THE APPEALS BY THE REVENU E BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND AS CLARIFI ED IN THE SAID CIRCULAR, THE SAID MONETARY LIMIT IS APPLICABLE RETROSPECTIVE LY EVEN TO THE APPEALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INST RUCTED THAT SUCH PENDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF R S.10,00,000/- MAY BE WITHDRAWN/ NOT PRESSED. KEEPING IN VIEW THE INSTRUC TION GIVEN BY THE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10.12.2015, WH ICH IS SQUARELY APPLICABLE IN THE PRESENT CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WITHDRAWN/NOT PRESSED AND DISMIS SED ACCORDINGLY. 3. AS AGREED BY THE LD. REPRESENTATIVE OF THE ASSES SEE, THE CROSS OBJECTION FILED BY THE ASSESSEE HAS BECOME INFRUCTU OUS AS A RESULT OF DISMISSAL OF THE CORRESPONDING APPEAL OF THE REVENU E. ACCORDINGLY, THIS CROSS OBJECTION FILED BY THE ASSESSEE IS ALSO DISMI SSED. 4. IN THE RESULT, THE APPEAL OF THE REVENUE AS WELL AS THE CROSS OBJECTION FILED BY THE ASSESSEE BOTH ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON JANUARY 14, 2 016. SD/- SD/- (S.S. VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER ACCOUNTANT MEMBER KOLKATA, THE 14 H DAY OF JANUARY, 2016 COPIES TO : (1) ASSISTANT COMMISSIONER OF INCOME TAX, I.T.A. NO. 820/KOL./2011 ASSESSMENT YEAR: 2004-2005 & C.O. NO. 49/KOL/2011 (ARISING OUT OF ITA NO. 820/KOL/2011) ASSESSMENT YEAR : 2004-2005 PAGE 3 OF 3 CIRCLE-56, KOLKATA, 3, GOVERNMENT PLACE (WEST), KOLKATA-700 001 (2) THE SBI STAFF ASSOCIATION COOPERATIVE SOCIETY LTD., 11, ABDUL HAMID STREET, KOLKATA-700 069 (3) COMMISSIONER OF INCOME-TAX (APPEALS)-XXXVI, KO LKATA (4) COMMISSIONER OF INCOME TAX, KOLKATA (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.