Deputy Commissioner of Income-tax, V. M/s. Thakur Infraprojects Pvt. Ltd., Raigad

ITA 984/PUN/2015

• Counselvise Citation: [2017] 126 COUNSELVISE.COM (IT) 7380 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 3 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-09-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 27-09-2017
• Assessment Year: 2010-2011
• Appeal Filed On: 29-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIVEK AGGARWAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B , PUNE , , . , BEFORE MS. SUSHMA CHOWLA, JM AND SHRI D. KARUNAKARA RAO , AM . / ITA NO. 984 /P U N/20 1 5 / ASSESSMENT YEAR : 20 1 0 - 11 THE DY. COMMISSIONER OF INCOME TAX, PANVEL CIRCLE, NEW PANVEL, RAIGAD DIST. . / APPELLANT VS. M/S. THAKUR INFRAPROJECTS PVT. LTD., 265/1, OM SADANIKA, URAN PANVEL ROAD, PANVEL, DIST RAIGAD. . / RESPONDENT PAN: AA CCT6541F / APPELLANT BY : SHRI VIVEK AGGARWAL / RESPONDENT BY : NONE / DATE OF HEARING : 27 .0 9 . 201 7 / D ATE OF PRONOUNCEMENT: 29 .0 9 . 201 7 / ORDER PER SUSHMA CHOWLA, JM: THE APPEAL FILED BY THE REVENUE IS AGAINST THE ORDER OF CIT(A) - 2 , THANE , DATED 16 .0 3 .2015 RELATING TO ASSESSMENT YEAR 20 1 0 - 11 AGAINST ORDER PASSED UNDER SECTION 14 3 (3) OF THE I NCOME - TAX ACT , 1961 (IN SHORT THE ACT) . 2 . NONE APPEARED ON BEHALF OF THE ASSESSEE NOR ANY APPLICATION WAS FILED FOR ADJOURNMENT. HOWEVER, WE PROCEED TO DECIDE THE PRESENT APPEAL AFTER HEARING THE LEARNED DEPARTMENTAL REPRESENTATIVE FOR THE REVENUE SIN CE THE ISSUE INVOLVED IN THE PRESENT APPEAL IS LOW TAX EFFECT 2 ITA NO. 984 /P U N/201 5 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE FOR THE REVENUE FAIRLY ADMITTED THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS LESS THAN THE LIMIT PRESCRIBED BY THE CBDT CIRCULAR OF 10 . 12 . 201 5 BEARING NO.21 OF 2015 AND THEREFORE THE APPEAL BE DECIDED ACCORDINGLY. 4. ON PERUSAL OF RECORD, IT TRANSPIRES THAT THE TAX EFFECT INVOLVED IN PRESENT APPEAL IS LESS THAN THE MONETARY LIMIT PRESCRIBED BY CBDT FOR FILING OF APPEAL BEFORE TRIBUNAL. THE CB DT VIDE CIRCULAR NO. 21/2015, DATED 10.12.2015 HAS RAISED THE MONETARY LIMIT OF TAX EFFECT FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL TO RS. 10 LAKHS. THE CIRCULAR APPLIES TO THE APPEALS TO BE FILED BY THE DEPARTMENT IN FUTURE, AS WELL AS THE APPEALS PENDING BEFORE THE TRIBUNAL. THUS, IN VIEW OF THE CBDT CIRCULAR THE PRESENT APPEAL OF THE REVENUE IS LIABLE TO BE DISMISSED ON ACCOUNT OF LOW TAX EFFECT. 5 . IN THE RESULT, APPEAL OF REVENUE IS DISMISSED. ORDER PRONOUNCED ON THIS 29 TH DAY OF SEPTEMBER , 201 7 . SD/ - SD/ - ( D.KARUNAKARA RAO ) (SUSHMA CHOWLA) / ACCOUNTANT MEMBER / JUDICIAL MEMBER / PUNE ; DATED : 29 TH SEPTEMBER , 201 7 . GCVSR / COPY OF THE ORDER IS FORWARDED TO : 1. / THE A PPELLANT ; 2. / THE RESPONDENT; 3. ( ) / THE CIT (A) - 2, THANE. 4. / THE CIT - 2, THANE. 5. , , / DR B , ITAT, PUNE; 6. / GUARD FILE . / BY ORDER , //TRUE COPY// / SR. PRIVATE SECRETARY , / ITAT, PUNE