ACIT, New Delhi V. M/s Ina Puri, Gurgaon

ITA 950/DEL/2011

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 4308 (ITAT-DELHI)
• Duration Of Justice: 2 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-04-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 19-04-2011
• Assessment Year: 2003-2004
• Appeal Filed On: 18-02-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHYAMA S BANSIA
• Assessee Lawyers: O P SAPRA
• Keywords: Unexplained investment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI DELHI DELHI BENCH BENCH BENCH BENCH C CC C : NEW DELHI : NEW DELHI : NEW DELHI : NEW DELHI BEFORE SHRI C.L.SETHI, JM AND SHRI BEFORE SHRI C.L.SETHI, JM AND SHRI BEFORE SHRI C.L.SETHI, JM AND SHRI BEFORE SHRI C.L.SETHI, JM AND SHRI K. K.K. K.D.RANJAN D.RANJAN D.RANJAN D.RANJAN, AM , AM , AM , AM ITA NO. ITA NO. ITA NO. ITA NO.950/DEL/2011 950/DEL/2011 950/DEL/2011 950/DEL/2011 ASSESSMENT YEAR : ASSESSMENT YEAR : ASSESSMENT YEAR : ASSESSMENT YEAR : 2003 2003 2003 2003- -- -04 0404 04 ASSTT.COMMISSIONER OF ASSTT.COMMISSIONER OF ASSTT.COMMISSIONER OF ASSTT.COMMISSIONER OF INCOME TAX, INCOME TAX, INCOME TAX, INCOME TAX, CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE- -- -7, 7,7, 7, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. VS. VS. VS. VS. MS.INA PURI, MS.INA PURI, MS.INA PURI, MS.INA PURI, LTH 112A LTH 112A LTH 112A LTH 112A, THE LABURNUM, , THE LABURNUM, , THE LABURNUM, , THE LABURNUM, SUSHANT LOK, PHASE SUSHANT LOK, PHASE SUSHANT LOK, PHASE SUSHANT LOK, PHASE- -- -I, I,I, I, BLOCK BLOCK BLOCK BLOCK- -- -A, A,A, A, GURGAON, GURGAON, GURGAON, GURGAON, HARYANA. HARYANA. HARYANA. HARYANA. PAN NO.AFRPP1559H. PAN NO.AFRPP1559H. PAN NO.AFRPP1559H. PAN NO.AFRPP1559H. (APPELLANT) (RESPONDENT) APPELLANT BY : SMT.SHYAMA S.BANSIA, CIT-DR RESPONDENT BY : SHRI O.P.SAPRA, ADVOCATE. ORDER ORDER ORDER ORDER PER C.L.SETHI PER C.L.SETHI PER C.L.SETHI PER C.L.SETHI, J , J, J , JM : M : M : M : THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE A GAINST THE ORDER DATED 15.11.2006 PASSED BY LEARNED CIT(A) FOR THE AY 2003-04. 2. IN THIS APPEAL, THE REVENUE HAS CHALLENGED THE O RDER OF LEARNED CIT(A) IN DELETING THE ADDITION OF `4,29,000/- ON A CCOUNT OF EXPENDITURE FOR FOREIGN TRAVEL AND AN ADDITION OF `44,500/- ON ACCOUNT OF UNEXPLAINED INVESTMENT. THE TOTAL AMOUNT OF ADDITI ON DELETED BY LEARNED CIT(A) THUS COMES TO `4,73,500/-. THE TAX EFFECT ON THE SAID AMOUNT OF `4,73,500/- WOULD COME TO `1,57,830/- BEI NG 30% OF `4,73,500/-. IN THE LIGHT OF CBDT CIRCULAR DATED 4 .10.2005 READ WITH CBDT INSTRUCTION NO.5/2008 DATED 15.5.2008, THE PRE SENT APPEAL SHOULD NOT HAVE BEEN FILED BY THE REVENUE INASMUCH AS THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW `2 LAKHS. WE, THERE FORE, DISMISS THIS APPEAL FILED BY THE REVENUE AS NOT MAINTAINABLE ON THE GROUND OF TAX ITA-950/DEL/2011 2 EFFECT BEING LOWER THAN THE LIMIT PRESCRIBED BY THE CBDT IN THE AFORESAID CIRCULARS. 3. IN THE RESULT, THE APPEAL FILED BY THE REVENUE S TANDS DISMISSED AS NOT MAINTAINABLE. DECISION PRONOUNCED IN THE OPEN COURT ON CONCLUSION OF HEARING ON 19 TH APRIL, 2011. SD/- SD/- (K.D.RANJAN (K.D.RANJAN (K.D.RANJAN (K.D.RANJAN) )) ) (C.L.SETHI (C.L.SETHI (C.L.SETHI (C.L.SETHI) )) ) ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER DATED : 19.04.2011. VK. COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT ASSISTANT REGISTRAR ITA-950/DEL/2011 3