ACIT, CHENNAI V. Karanataka Castings, CHENNAI

ITA 886/CHNY/2013

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2329 (ITAT-CHENNAI)
• Duration Of Justice: 6 year(s) 3 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-08-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 12-06-2017
• Assessment Year: 2008-2009
• Appeal Filed On: 06-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, C BENCH : CHENNAI , . , [BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY , JUDICIAL MEMBER ] !' ./I.T.A. NO.886/CHNY/2013. #$% &$ / ASSESSMENT YEAR : 2008-2009. THE ASSISTANT COMMISSIONER OF INCOME TAX, BUSINESS CIRCLE XI, CHENNAI 600 006. VS. M/S. KARNATAKA CASTINGS, NO.348A, MADHAVARAM REDHILLS ROAD, MADHAVARAM, CHENNAI 600 060. [PAN AAHFK 0529P] ( / APPELLANT) ( /RESPONDENT) !' '( ) * / APPELLANT BY : SHRI. SRIDHAR DORA, JCIT. +,'( ) * /RESPONDENT BY : SHRI. S. SRIDHAR, ADVOCATE # - ) . /DATE OF HEARING : 28-08-2019 /0&% ) . /DATE OF PRONOUNCEMENT : 29-08-2019 / O R D E R PER INTURI RAMA RAO, ACCOUNTANT MEMBER THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS)-IV, CH ENNAI (HEREINAFTER AS CIT(A)) DATED 20.12.2012 FOR THE ASSESSMENT YE AR (AY) 2008-09. ITA NO.886 /2013 :- 2 -: 2. IT IS STATED BEFORE US THAT THE TAX EFFECT IN THIS CASE IS LESS THAN RS.50 LAKHS AND THEREFORE, THE CIRCULAR NO. 17/2019 DATED 08.08.2019 ISSUED BY THE CENTRAL BOARD OF DIRECT TAXES (CBDT) IN EXERCISE OF ITS POWER VESTED UNDER SEC. 268A(1) OF THE IT ACT COMES INTO PLAY WHEREIN, THE MONETARY LIMIT FOR FILING THE APPEAL B Y THE REVENUE BEFORE THE ITAT AND VARIOUS HIGH COURTS AS WELL AS APEX CO URT ARE REVISED WITH AN OBJECT OF THE REDUCING THE TAX LITIGATION. VIDE PARA 3 OF THE SAID CIRCULAR (SUPRA) IT IS STATED THAT IN CASES WHERE T HE TAX EFFECT IN THE APPEALS TO BE FILED BEFORE THE APPELLATE TRIBUNAL D OES NOT EXCEED E50 LAKHS APPEALS SHOULD NOT BE FILED. THUS TAKING A NO TE OF CBDT CIRCULAR NO. 17/2019, DATED 08.08.2019 AND CONSIDERING THE F ACT THAT THE TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN RS.50 LAK HS, THE PRESENT APPEAL DESERVES TO BE DISMISSED AS NOT PRESSED / NOT MAINT AINABLE. HOWEVER, WE MAKE IT CLEAR THAT THE ISSUES RAISED IN THE INST ANT APPEAL IS LEFT OPEN TO BE EXAMINED IN THE APPROPRIATE PROCEEDINGS, IF A RISES, IN FUTURE. AT THE SAME TIME, WE ALSO MAKE IT CLEAR THAT IF THE AP PEAL FALL IN ANY OF THE EXCEPTIONS REFERRED TO IN THE ABOVE SAID CBDT C IRCULAR, THE REVENUE IS AT LIBERTY TO MOVE AN APPLICATION FOR RE CALLING THE ORDER IF SO ADVISED. ACCORDINGLY, IN THE LIGHT OF CBDT CIRCULA R NO.17/2019 DATED 08/08/2019 THE APPEAL STANDS DISMISSED. ITA NO.886 /2013 :- 3 -: 3. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DI SMISSED. ORDER PRONOUNCED ON 29TH DAY OF AUGUST, 2019, A T CHENNAI. SD/- SD/- ( . ! ) (DUVVURU RL REDDY) ' # /JUDICIAL MEMBER ( ) (INTURI RAMA RAO) /ACCOUNTANT MEMBER 1 #- / CHENNAI 2# / DATED:29TH AUGUST, 2019. KV 3 ) +.4 5' !6 5&. / COPY TO: 1 . !' '( / APPELLANT 3. 7. (!' ) / CIT(A) 5. 5 :; +.#< / DR 2. +,'( / RESPONDENT 4. 7. / CIT 6. ;$ =- / GF