The ACIT, Cochin V. M/s.V.Guard Industries Ltd, Cochin

ITA 97/COCH/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 7269 (ITAT-COCHIN)
• Duration Of Justice: 1 year(s) 4 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 26-07-2018
• Assessment Year: 2009-2010
• Appeal Filed On: 22-03-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A DHANARAJ
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI CHANDRA POOJAR I, AM & SHRI GEORGE GEORGE K, JM ITA NO. 97 /COCH/201 7 : ASST.YEAR 2009 - 2010 ITA NO.380/COCH/2017 : ASST. YEAR 2010 - 2011 THE ASST.COMMISSIONER OF INCOME - TAX, CIRCLE 2(1) COCHIN. VS. M/S V.GUARD INDUSTRIES LIMITED, 33/3905F, VENNALA HIGH SCHOOL ROAD, VENNALA KOCHI 682 028. PAN : AAACV5492Q . (APPELLANT) (RESPONDENT) APPELLANT BY : SRI. A.DHANARAJ, SR.DR RESPONDENT BY : SRI. ANIL D.NAIR DATE OF HEARING : 26 .07.2018 DATE OF PRONOUNCEMENT : 26 .07.2018 O R D E R PER GEORGE GEORGE K , J M TH ESE APPEAL S AT THE INSTANCE OF THE REVENUE ARE DIRECTED AGAINST THE ORDER S OF THE COMMISSIONER OF INCOME - TAX (APPEALS). THE RELEVANT ASSESSMENT YEAR S ARE 2009 - 2010 AND 2010 - 2011. 2. IT IS OBSERVED THAT THE TAX EFFECT IN TH E S E APPEAL S IS LESS THAN RS. 20 LAKHS AND THEREFORE THE CIRCULAR NO. 3/2018 DATED 11.07.2018 ISSUED BY THE CENTRAL BOARD OF DIRECT TAXES (CBDT) IN EXERCISE OF ITS POWER VESTED UNDER SEC. 268A(1) OF THE I.T. ACT COMES INTO PLAY, WHEREIN, THE MONETARY LIMIT FOR FILING THE APPEALS BY THE REVENUE BEFORE THE ITAT AND VARIOUS HIGH COURTS AS WELL AS APEX COURT ARE REVISED WITH AN OBJECT ITA NO S . 97 - 380 / COCH /201 7 . M/S. V.GUARD INDUSTRIES LIMITED. 2 OF REDUCING THE TAX LITIGATION. VIDE PARA 3 OF THE SAID CIRCULAR (SUPRA) , IT IS STATED THAT IN CASES WHERE THE TAX EFFECT IN THE APPEAL TO BE FILED BEFORE THE APPELLATE TRIBUNAL DOES NOT EXCEED RS. 20 LAKHS , APPEAL SHOULD NOT BE FILED. THUS , TAKING A NOTE OF CBDT CIRCULAR NO. 03/2018 DATED 11.07.2018 AND CONSI DERING THE FACT THAT THE TAX EFFECT IN THE INSTANT APPEAL S IS LESS THAN R S. 20 LAKHS, THE PRESENT APPEAL S DESERVE TO BE DISMISSED AS NOT MAINTAINABLE. HOWEVER, WE MAKE IT CLEAR THAT THE ISSUE ( S ) RAISED IN THE INSTANT APPEAL S IS /ARE LEFT OPEN TO BE EXAMINED IN THE APPROPRIATE PROCEEDINGS, IF ARISES, IN FUTURE. AT THE SAME TIME , WE ALSO M AKE IT CLEAR THAT IF THE APPEAL S FALL IN ANY OF THE EXCEPTIONS REFERRED TO IN THE ABOVE SAID CBDT CIRCULAR, THE REVENUE IS AT LIBERTY TO MOVE AN APPL ICATION FOR RECALLING THE ORDER S , IF SO, ADVISED. 3. ACCORDINGLY IN THE LIGHT OF CBDT CIRCULAR NO. 03/2018 DATED 11.07.2018, THE APPEAL S STAND DISMISSED. 4. IN THE RESULT, THE APPEAL S FILED BY THE REVENUE ARE DISMISSED. ORDER PRONOUNCED ON THIS 26 TH DAY OF JULY, 2018 . SD/ - SD/ - ( CHANDRA POOJARI ) ( GEORGE GEORGE K ) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN ; DATED : 26 TH JULY, 2018 . DEVDAS* ITA NO S . 97 - 380 / COCH /201 7 . M/S. V.GUARD INDUSTRIES LIMITED. 3 COPY OF THE ORDER FORWARDED TO : BY ORDER, (ASSTT. REGISTRAR) ITAT, COCHIN 1. THE APPELLANT 2. THE RESPONDENT. 3. THE PR.CIT - I, KOCHI. 4. THE CIT(APPEALS) - , KOCHI . 5. DR, ITAT, COCHIN 6 . GUARD FILE.