The Income Tax Officer, Ward - 1, Nipani V. Shri Arihant Credit Souhard Sahakari Limited, Belgavi

ITA 92/PAN/2018

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 8009 (ITAT-PANAJI)
• Duration Of Justice: 3 year(s) 11 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-02-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: WT(D)
• Assessment Year: 2008-2009
• Appeal Filed On: 05-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect; Tax effect
• Section: 143(3); 250; 13

Judgement Text

ITAT-Panaji Page 1 of 4 आयकरअपीलीय Ɋायािधकरण पणजी Ɋायपीठ मŐ। IN THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, PANAJI (Through Virtual Court at Raipur) BEFORE SHRI RAVISH SOOD, JUDICIAL MEMBER AND SHRI JAMLAPPA D. BATTULL, ACCOUNTANT MEMBER आयकरअपील सं. / ITA No. 92 to 93 & 96 to 97/PAN/2018 िनधाŊरण वषŊ / Assessment Year : 2008-2009, 2009-2010, 2012-2013 & 2013-2014 Income Tax Officer, Ward-1, Nipani, Tal. : Chikodi, Dist. : Belagavi, Karnataka .......अपीलाथŎ / Appellant बनाम / V/s. Shri Arihant Credit Souhard Sahakari Ltd A/p : Borgaon, Tal. : Chikodi Dist. : Belagavi, Karnataka PAN : AABAS 0813 K ......ŮȑथŎ / Respondent Appearances Assessee by : None for the assessee Revenue by : Shri Sourabh Nayak सुनवाई की तारीख / Date of conclusive Hearing : 25/02/2022 घोषणा की तारीख / Date of Pronouncement : 25/02/2022 आदेश / ORDER PER BENCH; These present appeals are filed by the appellant Revenue are directed against the order of Commissioner of Income Tax- Appeals, Belagavi [for short “CIT(A)”] passed u/s 250 of the Income-tax Act, 1961 [for short “the Act”], which in turn arose out of the order of the Assessing Officer [for short “AO”] passed u/s 143(3) of the Act, for various assessment years [for short “AY”]. ITA No.: 92,93,96&97/PAN/2018 AY : 08-09, 09-10, 12-13 & 13-14 ITAT-Panaji Page 2 of 4 2. For the brevity of facts, we tabulate the demographical information relating to applicable assessment proceedings and proceedings of first appellate as under; 3. On this date of hearing, the learned departmental representative [for short “DR”] referring to amount of impugned addition made in each of these assessments year, brought to the notice of the bench that, these appeals of the revenue individually falls below the monetary tax limit within the purview of Central Board of Direct Taxes [for short “CBDT”] Circular 17/20119 r.w. Circular 3/2018. 4. Further, the Ld DR admitting the fact submitted before the bench that; 4.1 As per Circular No 3/2018, F. No. 279/Misc.142/2007-ITJ (Pt) dt 11/07/2018 issued by CBDT, Department of Revenue, Ministry of Finance, Government of India, no appeal shall be filed by the Revenue in respect of any assessment year or years where the tax effect is less than monetary limit specified in Para 3 as under; Under Section Date of Order 1 ITA/92/PAN/2018 2008-2009 143(3) r.w.s. 147 01/04/201408/12/2017 2 ITA/93/PAN/2018 2009-2010 143(3) r.w.s. 147 10/04/201408/12/2017 3 ITA/96/PAN/2018 2012-2013143(3) 28/03/201408/12/2017 4 ITA/97/PAN/2018 2013-2014143(3) 14/09/201508/12/2017 First Appellate Date of order Sr Appeal No Assessment Order Details Asstt Year Sr Appeals/SLPs in the Income Tax MattersMonetary Limit ( ₹ ) 1Before Appellate Tribunal20,00,000 2Before High Court50,00,000 3Before Supreme Court 1,00,00,000 ITA No.: 92,93,96&97/PAN/2018 AY : 08-09, 09-10, 12-13 & 13-14 ITAT-Panaji Page 3 of 4 4.2 And the Para 3 of the aforementioned circular modified by CBDT by a subsequently Circular No 17/2019 dt 08/08/2019 thereby enhancing aforesaid monetary limit to the followings; 4.3 The Para 13 of 3/2018 stipulated that, this instruction will apply retrospectively to pending appeals and appeals to be filed henceforth in Hon’ble Supreme Court/High Courts/Tribunals, thus all pending appeals below the specified monetary tax limits may be withdrawn / not pressed. 4.4 The Ld DR further conceded that, the tax effect in these present Revenue’s appeals individually falls below monetary limit of ₹50 Lakhs, however prayed that, a liberty may be given to contest any or all these appeals at any subsequent stage for the reasons stipulated in the foresaid circular by filing a Miscellaneous Application [for short “MA”] to revive these appeals for an order of recalling. 5. Undisputedly the tax effect in each of these appeals filed by the Revenue is below ₹50 Lakhs, ergo keeping in view the CBDT Circular No. 3/2018 r.w.c. 17/2019; we are inclined to dismiss these appeals due to low tax effect [for short “LTE”] without going into the merits. While disposing so, we are granting a liberty to the appellant revenue to revive the same by filing a MA for recalling of this order at any stage to agitate the matter/issue set forth in these appeals in accordance with the clauses as are contained in the respective circulars of the CBDT, we order accordingly. Sr Appeals/SLPs in the Income Tax MattersMonetary Limit ( ₹ ) 1Before Appellate Tribunal50,00,000 2Before High Court1,00,00,000 3Before Supreme Court 2,00,00,000 ITA No.: 92,93,96&97/PAN/2018 AY : 08-09, 09-10, 12-13 & 13-14 ITAT-Panaji Page 4 of 4 6. Resultantly, the appeal of the revenue is dismissed, with no order as to cost. Order pronounced in Open Court on this Friday 25 th day of February, 2022. Sd/- Sd/- RAVISH SOOD JAMLAPPA D. BATTULL JUDICIAL MEMBER ACCOUNTANT MEMBER पणजी / PANAJI; िदनांक / Dated : 25 th February, 2022 आदेशकीŮितिलिपअŤेिषत / Copy of the Order forwarded to : 1. अपीलाथŎ / The Appellant. 2. ŮȑथŎ / The Respondent. 3. The CIT (Appeals), Belagavi (Karnataka) 4. The Pr. CIT, Belagavi (Karnataka) 5. िवभागीय Ůितिनिध,आयकर अपीलीय Ɋायािधकरण, पणजी / DR, ITAT, Panaji Bench, Panaji. 6. गाडŊफ़ाइल / Guard File. आदेशानुसार / BY ORDER, // True Copy // िनजीसिचव / Private Secretary