Deputy Commissioner of Income Tax, Circle 3(3), Surat V. M/s. Krinal Gems, Surat

ITA 93/SRT/2017

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 5824 (ITAT-SURAT)
• Duration Of Justice: 3 year(s) 7 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-04-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2008-2009
• Appeal Filed On: 07-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SAPNESH SHETH
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, HON'BLE JUDICIAL MEMBER AND DR.SHRI ARJUN LAL SAINI, HON'BLE ACCOUNTANT MEMBER (VIRTUAL HEARING) . . ./ I.T.A NO.93/SRT/2017 [ [ / ASSESSMENT YEAR: 2008-09 THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(3), SURAT. VS . M/S.KRINAL GEMS, 202, PRINCES PLAZA, SARDAR CHOWK, VARACHHA ROAD, SURAT. [PAN: AAHFK 2787 P] / APPELLANT /RESPONDENT [ /ASSESSEE BY SHRI SAPNESH SHETH C A /REVENUE BY SMT. USHA SHROTE SR.DR / DATE OF HEARING: 1 6 . 0 4 .20 2 1 /PRONOUNCEMENT ON: 1 6 . 0 4 .202 1 /O R D E R PER PAWAN SINGH, JUDICIAL MEMEBER: 1. THIS APPEAL BY REVENUE IS DIRECTED AGAINST THE ORDER OF LD.COMMISSIONER OF INCOME TAX(APPEALS)-3, SURAT, HEREINAFTER REFERRED AS LD.CIT(A), DATED 12.06.2017 FOR ASSESSMENT YEAR (AY) 2008-09. 2. AT THE OUTSET OF HEARING, THE LD.AUTHORISED REPRESENTATIVE(AR) OF THE ASSESSEE SUBMITS THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS LESS THAN THE MONETARY LIMIT OF RS.50 LACS AS FIXED BY THE CBDT, CIRCULAR NO.17/2019 DATED 08.08.2019. THE LD.AR FOR THE ASSESSEE FURNISHED THE WORKING OF TAX EFFECT OF RS.48,78,370/- AND PRAYED THAT THE REVENUE IS PRECLUDED FROM FILING APPEAL BEFORE THE TRIBUNAL AS THE TAX EFFECT IS LESS THAN THE DCIT, CIRCLE-3(3), SURAT VS. M/S.KRINAL GEMS / ITA NO.93/SRT/2017 FOR A.Y. 2008-09 2 MONETARY LIMIT FIXED BY THE CBDT CIRCULAR NO.17/2019 DATED 08.08.2019 FOR FILING APPEAL BEFORE THE TRIBUNAL. 3. ON THE OTHER HAND, THE LD.DEPARTMENTAL REPRESENTATIVE (SR.DR) FOR THE REVENUE AFTER GOING THROUGH THE WORKING OF TAX EFFECT WOULD SUBMIT THAT THE REVENUE MAY BE GIVEN LIBERTY TO FILE THE APPROPRIATE APPLICATION FOR SEEKING THE REVIVAL OF APPEAL, IN CASE AT LATER STAGE, IF IT IS DISCOVERED THAT TAX EFFECT INCOME OR THE APPEAL IS COVERED BY ANY EXCEPTION CLAUSE OF CIRCULAR OF CBDT DATED 20.08.2018. 4. WE HAVE CONSIDERED THE CONTENTIONS OF BOTH THE PARTIES AND PERUSED THE ORDERS OF ASSESSING OFFICER AND ORDER PASSED BY LD.CIT(A). WE HAVE NOTED THAT THE TAX EFFECT IN THIS APPEAL IS OF RS. 48,78,370/-, WHICH IS LESS THAN THE MONETARY LIMIT OF THE RS.50 LACS AS FIXED BY CBDT CIRCULAR NO.17/2019 DATED 08.08.2019 FOR FILING APPEAL BEFORE THE TRIBUNAL. HENCE, THE APPEAL FILED BY THE REVENUE IS DISMISSED. HOWEVER, THE REVENUE IS GIVEN LIBERTY TO GET THE APPEAL REVIVE IF AT LATER STAGE IT IS DISCOVERED THAT GROUNDS RAISED BY THE REVENUE IS COVERED BY ANY EXCEPTION CLAUSE OF CIRCULAR OF CBDT DATED 20.08.2018 5. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED ON 16 TH APRIL 2021 WHILE HEARING THE APPEAL. SD/- SD/- (DR. ARJUN LAL SAINI) (PAWAN SINGH) ( /ACCOUNTANT MEMBER) ( /JUDICIAL MEMBER) / SURAT, DATED : 16 TH APRIL, 2021 / #SGR COPY OF ORDER SENT TO:- ASSESSEE/AO/PR. CIT/ CIT (A)/ ITAT (DR)/GUARD FILE OF ITAT. BY ORDER / / TRUE COPY / / ASSISTANT REGISTRAR, SURAT