The Assistant Commissioner of Income Tax, Srinagar V. M/s Abdul Rasid Saraf, Kashmir

ITSSA 1/ASR/2014

• Counselvise Citation: [2015] 122 COUNSELVISE.COM (IT) 1214 (ITAT-AMRITSAR)
• Duration Of Justice: 1 year(s) 10 month(s) 11 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 21-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 21-12-2015
• Assessment Year: misc
• Appeal Filed On: 10-02-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R K SHARDA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR BEFORE SH. A.D.JAIN, HONBLE JUDICIAL MEMBER AND SH. T.S. KAPOOR, HONBLE ACCOUNTANT MEMBER I.T.(SS) A. NO. 1 (ASR)/2014 BLOCK PERIOD 01-04-1996 TO 09-06-2002 THE ASSIST. COMMISSIONER OF INCOME TAX, CIRCLE SRINAGAR. VS. M/S. ABDUL RASID SARAF PROP. M/S MILLAT TEXTILES BARAMULLA, KASHMIR. PAN:ABWPB5198B (APPELLANT) (RESPONDENT) CROSS OBJECTION NO.25 (ASR)/2014 (ARISING OUT OF IT (SS) A. NO. 01(ASR)/2014) BLOCK PERIOD 01-04-1996 TO 09-06-2002 M/S. ABDUL RASID SARAF PROP. M/S MILLAT TEXTILES BARAMULLA, KASHMIR. PAN:ABWPB5198B VS. THE ASSIST. COMMISSIONER OF INCOME TAX, CIRCLE SRINAGAR. (CROSS OBJECTOR) (RESPONDENT) APPELLANT BY: SH. R.K. SHARDA (DR.) RESPONDENT BY: NONE. DATE OF HEARING: 21.12.2015 DATE OF PRONOUNCEMENT: 21.12.2015 ORDER PER T.S. KAPOOR(AM): THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST T HE ORDER OF LEARNED CIT(A), JAMMU DATED 12.11.2013, WHEREIN TH E ASSESSEE HAS ALSO FILED THE CROSS OBJECTION. 2 2. AT THE TIME OF HEARING NO BODY ON BEHALF OF THE ASSESSEE WAS PRESENT. WHILE GOING THROUGH THE APPEAL FILE WE FO UND THAT TAX EFFECT INVOLVED IN THE APPEAL IS LESS THAN RS. 10 LACS. 3. THE DR HOWEVER, RELIED UPON THE ORDER OF THE ASS ESSING OFFICER. 4. SINCE THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS.10,00,000/-. HENCE, AS PER CBDT INSTRUCTION NO. 21 OF 2015, DATED 10 TH DEC., 2015, WHICH IS BINDING ON THE DEPARTMENT, TH E DEPARTMENT IS PRECLUDED FROM FILING THE PRESENT APPEAL, AS THIS I NSTRUCTION IS APPLICABLE RETROSPECTIVELY. THEREFORE, IN OUR CONSIDERED OPINI ON, THE SAID INSTRUCTION OF CBDT IS BINDING UPON THE DEPARTMENT AND THE PRES ENT APPEAL HAS BEEN FILED CONTRARY TO THE SAID INSTRUCTION ISSUED BY THE CBDT. ACCORDINGLY, THE APPEAL FILED BY THE REVENUE IS DIS MISSED, AS NOT MAINTAINABLE. 5. THE CROSS OBJECTION FILED BY THE ASSESSEE HAS B ECOME INFRUCTOUS AND THEREFORE DISMISSED. 6. IN VIEW OF THE ABOVE, THE APPEAL FILED BY THE RE VENUE AS WELL AS CROSS OBJECTIONS FILED BY THE ASSESSEE ARE DISMISSE D. 3 ORDER PRONOUNCED IN THE OPEN COURT ON THE CONCLUSIO N OF HEARING, IS PRONOUNCED ON THIS DAY OF 21 ST DECEMBER, 2015. SD/- SD/- (A.D. JAIN) (T. S. KAPOOR) JUDICIAL MEMBER ACCOUNTANT ME MBER DATED: 21.12.2015. /PK/ PS. COPY OF THE ORDER FORWARDED TO: (1) THE ASSESSEE: (2) THE (3) THE CIT(A), (4) THE CIT, (5) THE SR DR, I.T.A.T., TRUE COPY BY ORDER (ASSISTANT REGISTRAR) INCOME TAX APPELLATE TRIBUNAL, AMRITSAR BENCH: AMRITSAR.