The Assistant Commissioner of Income Tax, Circle-2 (1), Panaji V. M/s V. M. Salgaocar & Brothers (P) Ltd., Vasco

ITA 85/PAN/2019

AI Insights

The case involves multiple appeals by the Revenue against M/s. V.M. Salgaocar and Brother Pvt. Ltd., concerning the assessment years 2009-10 to 2017-18. The appeals were based on a common order passed by the Commissioner of Income Tax (Appeals)-1, Panaji, dated 31/12/2018. The primary contention raised by the Revenue was the tax effect involved in the appeals, which was below the threshold of Rs. 50 lakhs as stipulated by the CBDT Circulars. Both parties acknowledged the applicability of the circulars, leading to the dismissal of the appeals on the grounds of low tax effect.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 136875 (ITAT-PANAJI)
• Duration Of Justice: 4 year(s) 5 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-08-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2011-2012
• Appeal Filed On: 21-03-2019
• Laws Referred To: CBDT Circular No.17/2019, CBDT Circular No.3/2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: BADRINATH YAMAJI
• Keywords: Tax effect; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH :: PANAJI BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER & SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER (Through virtual hearing) ITA Nos.83 to 89, 91, 93/PAN/2019 (A.Y. 2009-10 to 2017-18) And ITA Nos.90, 92 & 94/PAN/2019 (A.Y. 2015-16, 2016-17 & 2017-18) ACIT, Circle-2(1), Panaji, Goa vs M/s. V.M. Salgaocar and Brother Pvt. Ltd., Post Box No.14, Salgaocar House, F.L. Gomes Road, Vasco Da Gama, Goa. PAN: AAACV 5950 B Appellant Respondent Assessee by : Smt. Urvi Mehta, AR Revenue by : Shri Badrinath Yamaji Chavan, DR Date of hearing : 18/08/2023 Date of pronouncement : 22/08/2023 O R D E R Per Bench: ITA Nos.83 to 89, 91, 93/PAN/2019 and ITA Nos.90, 92 & 94/PAN/2019 preferred by the Revenue emanates from the common order, each, passed by the Commissioner of Income Tax [Appeal]-1, Panaji, dated 31/12/2018 for A.Ys. 2009-10 to 2017-18 and 2015-16, 2016-17 & 2017-18 respectively, as per the grounds of appeals on record. ITA Nos.83-94/PAN/2019 M/s. V.M. Salgaocar & Brother Pvt. Ltd. 2 2. At the very outset, ld.AR of the assessee has submitted that tax effect involved in the Revenue’s appeals is below Rs.50.00 lakhs and per the CBDT Circular No.17/2019 dated 08/08/2019 read with CBDT Circular No.3/2018 dated 11/07/2018, the appeals filed by the Revenue are not maintainable. 3. Ld.DR admitted the fact that all the appeals of the Revenue are not maintainable due to low tax effect. 4. Having heard the parties and considering the materials on record, we find that the appeals filed by the Revenue are not maintainable due to low tax effect as per CBDT Circular No.17/2019, dated 08/08/2019 read with CBDT Circular No.3/2018, dated 11/07/2018. However, we further hold that if in the near future, it is found that these cases of the Revenue fall within one of the exceptions mentioned in the said circular, then Revenue shall be at liberty to apply for revival of these appeals. With these observations, the appeals of the Revenue are dismissed on low tax effect. 5. In the result, Revenue’s appeals stand dismissed. Order pronounced in open Court on 22 nd August, 2023. Sd/- Sd/- (INTURI RAMA RAO) (PARTHA SARATHI CHAUDHURY) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated : 22 nd August, 2023 ITA Nos.83-94/PAN/2019 M/s. V.M. Salgaocar & Brother Pvt. Ltd. 3 vr/- Copy to : 1. The Appellant. 2. The Respondent. 3. The Pr. CIT concerned. 5. The DR, ITAT, Panaji Bench, Panaji. 6. Guard File. By Order // TRUE COPY // Senior Private Secretary ITAT, Pune.