ITO, Ward - 32(3), KOLKATA, Kolkata V. Smt. Bina Agarwal, Kolkata

ITA 903/KOL/2018

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 6060 (ITAT-KOLKATA)
• Duration Of Justice: 2 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2004-2005
• Appeal Filed On: 04-05-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: GOUTAM MONDAL
• Keywords: Unexplained cash credit; Tax effect
• Section: 68; 6

Judgement Text

PAGE | 1 IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC, KOLKATA BEFORE SH. P.M.JAGTAP, ACCOUNTANT MEMBER ITA NO.903/KOL/2018 [ASSESSMENT YEAR: 2004 - 05] APPELLANT BY SH. GOUTAM MONDAL, ADDL. CIT RESPONDENT BY NONE DATE OF HEARING 26.07.2018 DATE OF PRONOUNCEMENT 26.07.2018 ORDER THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LD. CIT(A) - 09, KOLKATA DATED 20.02.2018 AND THE SOLITARY ISSUE RAISED THEREIN RELATES TO THE DELETION BY THE LD.CIT(A) OF ADDITION OF RS.28,37,600/ - MADE BY THE AO ON ACCOUNT OF UNEXPLAINED CASH CREDIT U/S 68 OF THE INCOME TAX ACT, 1961 (IN SHORT ACT). 2. AT THE TIME OF HEARING FIXED IN THIS CASE TODAY, NONE HAS APPEARED ON BEHALF OF THE ASSESSEE. IT IS HOWEVER, NOTED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LESS THAN THE MONETARY LIMIT OF RS.20 LACS FIXED BY THE CBDT FOR FILING THE REVENUES APPEAL S BEFORE THE TRIBUNAL AND THIS POSITION IS NOT DISPUTED EVEN BY THE LD. DR. THE CBDT VIDE ITS RECENT CIRCULAR N O.3/2018 ISSUED ON 11.07.2018 HAS RE VISED THE MONETARY LIMIT FOR FILING THE APPEAL S OF THE REVENUE BEFORE THE TRIBUNAL TO RS.20 LACS. AS CLARIFIED IN THE SAID CIRCULAR, THE REVISED MONETARY LIMIT OF R S.20 LACS FOR FILING THE REVENUES APPEAL S BEFORE THE ITAT WOULD APPLY T O THE APPEALS ALRE ADY FILED BY THE REVENUE WHICH ARE PENDING BEFORE THE TRIBUNAL AND THE SAME ARE LIABLE TO BE DISMISSED AS WITHDRAWN/NOT PRESSED. I ACCORDINGLY TREAT THIS APPEAL OF THE REVENUE INVOLVING THE TAX EFFECT OF RS.20 LACS ITO, WARD - 32(3), KOLKATA - 700071. VS SMT. BINA AGARWAL, 2, AUCKLAND SQUARE, SOUTH GATE, FLAT 3A, 3 RD FLOOR, KOLKATA - 700017. PAN - AAFPA6144G. (APPELLANT) (RESPONDENT) ITA NO. 903/ KOL/201 8 [ASSESSMENT YEAR: 20 04 - 05 ] PAGE | 2 AS WITHDRAWA N /NOT PRESSED K EEPING IN VI EW THE CIRCULAR NO.3/2018 (SUPRA) ISSUED BY CBDT AND DISMISS THE SAME. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 2 6 .07.2018. S D / - (P.M.JAGTAP) ACCOUNTANT MEMBER DATE: - 2 6 .07.2018 *AMIT KUMAR* COPY FORWARDED TO: 1. APPELLANT - ITO, WARD - 32(3), KOL KATA - 7000 71. 2. RESPONDENT - SMT. BINA AGARWAL, 2, AUCKLAND SQUARE, SOUTH GATE, FLAT 3A, 3 RD FLOOR, KOLKATA - 700017. 3. CIT - KOLKATA 4. CIT(APPEALS) - KOLKATA BENCH 5. DR: ITAT - KOLKATA SR.P.S./H.O.O ITAT, KOLKATA