Assistant Commissioner of Income Tax, Central Circle, Panaji V. Shri Mangaldas S Kamat, Ankola

ITA 99/PAN/2023

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 3407 (ITAT-PANAJI)
• Duration Of Justice: 9 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-03-2024
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2014-2015
• Appeal Filed On: 17-05-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH : PANAJI [THROUGH VIRTUAL HEARING AT ITAT : PUNE] BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER I.T.A.No.99/PAN./2023 Assessment Year 2014-2015 The ACIT, Circle-1, Central Circle, Pundalik Niwas, “Rua De Ourem”, Panaji, Goa – 403 001. vs. Shri Mangaldas S Kamat, H.No.337-A, Sohani, Katyayani Temple, Road Aversa-Ankola, Uttar Kannada. Karnataka. PIN – 581 316 PAN AELPK7818M (Appellant) (Respondent) For Revenue : Shri Badrinath Yamaji Chavan For Assessee : Shri V. Narendra Sharma Date of Hearing : 12.03.2024 Date of Pronouncement : 13.03.2024 ORDER PER SATBEER SINGH GODARA, J.M. : This Revenue’s appeal I.T.A.No.99/PAN./2023, for assessment year 2014-2015, arises against the CIT(A)-2, Panaji, Panaji’s order in DIN no.ITBA/APL/S/250/2022-23/1049616905(1) dated 10.02.2023, involving proceedings u/s.143(3) r.w.s.144C of the Income Tax Act, 1961 (in short “the Act”). Heard both the parties. Case files perused. 2. The Revenue’s sole substantive grievance raised herein seeks to reverse the Ld. CIT(A)'s action deleting sec.69C unexplained expenditure addition of Rs.71 lakhs made by the Assessing Officer in his assessment order dated 21.05.2021. That 2 ITA.No.99 /PAN./2023 being the case, there would be hardly any denial to the clinching fact that the tax effect comes to less than Rs.50 lakhs as per the CBDT’s circular no.17/2019 dated 08.08.2019 made applicable to all pending appeals as well. We accordingly reject the Revenue’s instant sole substantive grievance as well as the main appeal in very terms. Ordered accordingly. 3. This Revenue’s appeal is dismissed. Order pronounced in the open Court on 13.03.2024. Sd/- Sd/- [INTURI RAMA RAO] [SATBEER SINGH GODARA] ACCOUNTANT MEMBER JUDICIAL MEMBER Pune, Dated 13 th March, 2024 VBP/- Copy to 1. The appellant 2. The respondent 3. The CIT(A)-2, 3 rd Floor, Pundalik Niwas, “Rua De Ourem”, Panaji, Goa – 403 001. 4. The Addl. CIT, Central Range, Panaji. 5. The D.R. ITAT, Panaji Bench, Panaji 6. Guard File. //By Order// //True Copy // Sr. Private Secretary, ITAT, Pune Benches, Pune.