ACIT, New Delhi V. M/s. Yash Machines Pvt. Ltd., New Delhi

ITA 992/DEL/2015

• Counselvise Citation: 99220114 RSA 2015
• Duration Of Justice: 6 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-09-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC 2
• Next Hearing Date: 12-08-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 18-02-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH SMC - 2 , NEW DELHI BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER ITA NO. 9 9 2 /DEL/201 5 AY: 200 7 - 08 ACIT, C.C. 30 VS. YASH MACHINES P.LTD. NEW DELHI LOTUS TOWER BASEMENT COMMUNITY CENTRE NEW FRIENDS COLONY NEW DELHI 110 065 PAN: AAACY 1482 D (APPELLANT) (RESPONDENT) APPELLANT BY : S MT. RAKHI VIMAL, JCIT RESPONDENT BY : SH. TARUN KUMAR, ADV. ORDER THIS IS AN APPEAL FILED BY THE REVENUE DIRECTED AGAINST THE ORDER OF LD.CIT(A) - XXXIII, NEW DELHI DATED 11.11.2014 PERTAINING TO THE ASSESSMENT YEAR (A.Y.) 200 7 - 08 . 2 . I HAVE HEARD SHRI TARUN KUMAR, THE LD.COUNSEL FOR THE ASSESSEE AND S MT. RAKHI VIMAL, THE LD.JCIT ON BEHALF OF THE REVENUE. 3 . AT THE OUTSET, THE LD.COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW THE PRESCRIBED LIMIT OF RS.4 LAKHS FOR FILING OF APPEAL BEFORE THE ITAT. THE CBDT IN ITS INSTRUCTION NO. 5/2014, PRESCRIBED THE REVISED MONETARY LIMIT FOR FI LING APPEAL TO TRIBUNAL AT RS.4 LACS. IT WAS CONTENDED THAT THIS REVISED MONETARY LIMITS ARE APPLICABLE TO PENDING CASES. 4 . I HAVE HEARD RIVAL CONTENTIONS AND PERUSED THE MATERIAL ON RECORD. THE TRIBUNAL, IN THE CASE OF DCIT VS. SUSHILA SARAOGI (20 14) (11) TMI 294 ITAT KOLKATA, AFTER CONSIDERING THE PRECEDENTS ON THE SUBJECT, HELD THAT THE ITA NO. 992/DEL/2015 A.Y. 2007 - 08 M/S YASH MACHINES PVT.LTD. 2 INSTRUCTION NO.5/14, ISSUED BY THE CBDT ON 10.7.2014 IS APPLICABLE TO THE PENDING APPEALS. THE TRIBUNAL FOLLOWED THE PROPOSITION LAID DOWN IN THE JUDGEMENTS OF VARIOUS HIGH COURTS, INCLUDING THE TWO JUDGEMENTS OF THE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. M/S PS JAIN & CO. IN ITA 179/1991 DT. 2.8.2010 AND IN THE CASE OF CIT VS. DELHI RACE CLUB LTD. DT. 3.3.2011. I RESPECTFULLY FOLLOW THE CO - ORDIN ATE BENCH ORDER. IN THE INSTANT CASE, AS THE TAX EFFECT BEING BELOW RS. 4 LACS, I WITHOUT GOING INTO THE ISSUE ON MERITS, DISMISS THE APPEAL OF THE REVENUE IN LIMINE AS NOT MAINTAINABLE. IT IS TO BE MENTIONED THAT THE LD.DR WAS UNABLE TO POINT OUT ANY EXCEPTIONAL CIRCUMSTANCES, MENTIONED IN BOARD INSTRUCTION NO.5 OF 2014 THAT HAVE LED TO FILING OF TH IS APPEAL, DESPITE THE FACT OF THE MONETARY LIMIT BEING BELOW THE PRESCRIBED LIMIT. 5 . IN THE RESULT THE APPEAL BY THE REVENUE IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON 11 TH SEPTEMBER, 2015. SD/ - ( J. SUDHAKAR REDDY) ACCOUNTANT MEMBER DATED: THE 11 TH SEPTEMBER, 2015 *MANGA ITA NO. 992/DEL/2015 A.Y. 2007 - 08 M/S YASH MACHINES PVT.LTD. 3 COPY OF THE ORDER FORWARDED TO: 1. APPELLANT; 2.RESPONDENT; 3.CIT; 4.CIT(A); 5.DR; 6.GUARD FILE BY ORDER ASST. REGISTRAR, ITAT