ACIT, C-4(1), Chandigarh V. M/s Him Overseas, Chandigarh

ITA 823/CHANDI/2018

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 1234 (ITAT-CHANDIGARH)
• Duration Of Justice: 3 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 06-08-2018
• Assessment Year: 2014-2015
• Appeal Filed On: 01-06-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCHES A, CHANDIGARH BEFORE MS. DIVA SINGH, JUDICIAL MEMBER AND DR. B.R.R.KUMAR, ACCOUNTANT MEMBER ITA NO. 823/CH D/2018 ASSESSMENT YEAR: 2014-15 THE ACIT, VS M/S HIM OVERSEAS, CIRCLE 4(1), HOUSE NO. 39, SECTOR 28-A, CHANDIGARH. CHANDIGARH. PAN : AABFH7617P (A PPELLANT) (RESPONDENT) APPELLANT BY : SMT. CHANDERKANTA, SR.DR RESPONDENT BY : SHRI VINEET KRISHAN DATE OF HEARING : 09.08.2018 DATE OF PRONOUNCEMENT : 04.09.2018 ORDER PER DIVA SINGH THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE A SSAILING THE CORRECTNESS OF THE ORDER DATED 29.03.2018 OF CIT (A)-2 CHANDIGARH PERTAINING TO THE 2014-15 ASSESSMENT YEAR. 2. THE LD. AR INVITING ATTENTION TO THE DEPARTMENTA L GROUND SUBMITTED THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS ONLY RS.19,75,364 /- AND THUS BELOW THE LIMIT OF RS. 20 LACS SET OUT IN PARA 10 OF CBDT CIRCULAR NO. 3/2018 DATE D 11.07.2018. CONSEQUENTLY BEING IN VIOLATION OF THE CBDT CIRCULAR IS NOT MAINTAINABLE. 3. THE LD. SR.DR ON GOING THROUGH THE MATERIAL AVAI LABLE ON RECORD AGREED THAT THE SUBMISSIONS OF THE ASSESSEE ON FACTS ARE CORRECT. 4. WE HAVE HEARD THE PARTIES AND SEEN THE RECORD. IT IS SEEN THAT THE SAID CIRCULAR IS RETROSPECTIVE IN NATURE. ACCORDINGLY, IN VIEW OF T HE ABOVE, THE APPEAL OF THE REVENUE IS DISMISSED ON THE GROUNDS OF LOW TAX EFFECT IN TERMS OF THE AFORESAID CIRCULAR OF THE CBDT BY WHICH THE TAX AUTHORITIES ARE BOUND. 5. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. SAID ORDER WAS PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ITSELF. ORDER PRONOUNCED IN THE OPEN COURT ON 04.09.2018. SD/- SD/- (DR. B.R.R.KUMAR) ( DIVA SINGH) ACCOUNTANT MEMBER JUDICI AL MEMBER POONAM COPY TO: 1. THE APPELLANT 2.THE RESPONDENT 3.THE CIT 4.THE CIT( A) 5. THE DR ASSTT. REGISTRAR ITAT,CHANDIGARH.