ACIT, CHENNAI V. Shri M. Nasser, CHENNAI

ITSSA 1/CHNY/2014

• Counselvise Citation: [2016] 122 COUNSELVISE.COM (IT) 1481 (ITAT-CHENNAI)
• Duration Of Justice: 2 year(s) 26 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 29-01-2016
• Appeal Filed By: Department
• Bench Allotted: D
• Next Hearing Date: 17-12-2015
• Assessment Year: misc
• Appeal Filed On: 03-01-2014
• Court: TRIBUNAL
• Department Lawyers: P RADHAKRISHNAN
• Assessee Lawyers: S SRIDHAR
• Keywords: Block assessment; Tax effect

Judgement Text

, , IN THE INCOME - TAX APPELLATE TRIBUNAL D BENCH, CHENNAI , . , BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER & SHRI DUVVURU RL REDDY , JUDICIAL MEMBER I.T. (SS) A.NO S . 0 1 AND 02 /MDS/2014 BLOCK ASSESSMENT PERIOD : 01.04.1996 TO 21.02.2003 & C.O. NO. 07 & 08/MDS/2014 [IN I.T.(SS)A.NO.01 & 02 /MDS/2014] THE ASSISTANT COMMISSIONER OF INCOME TAX, MEDIA CIRCLE II , CHENNAI 600 034. VS. SHRI M. NA SSER, NO. 245, GUHAN STREET, KAMAKOTI NAGAR, VALASARAVAKKAM, CHENNAI 600 087. [PAN: ACBPN7011P] ( APPELLANT ) ( RESPONDENT /CROSS OBJECTOR ) ASSESSEE BY : SHRI S. SRIDHAR, ADVOCATE DEPARTMENT BY : SHRI P. RADHAKRISHNAN, JCIT / DATE OF HEARING : 1 7 .1 2 .2015 / DATE OF P RONOUNCEMENT : 29 . 0 1 .201 6 / O R D E R PER DUVVURU RL REDDY , JUDICIAL MEMBER : BOTH THE APPEALS BY THE REVENUE AND CROSS OBJECTIONS AT THE BEHEST OF THE ASSESSEE, EMA NATE FROM THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) VI, CHENNAI DATED 18.02.2013 RELEVANT TO THE BLOCK ASSESSMENT PERIOD 01.04.1996 TO 21.02.2003 . 2. AT THE TIME OF HEARING THE LD. COUNSEL FOR THE ASSESSEE HAS SUBMITTED THAT THE TAX EFFECT I N THE APPEAL FILED BY THE REVENUE IS .6,35,607/ - , WHICH IS LESS THAN THE MONETARY LIMIT OF .10,00,000/ - FIXED BY THE CBDT TO FILE AN I.T. (SS) A. NO S . 01 & 02 /M/ 14 & C.O. NOS. 07 & 08/M/14 2 APPEAL BY THE REVENUE BEFORE THE TRIBUNAL AS PER THE CBDT CIRCULAR NO. 21/2015, DATED 10.12.2015. THE LD. DR FAIRLY CONCEDED THE SUBMISSIONS MADE BY THE LD. C OUNSEL FOR THE ASSESSEE. BEING SO, THE REVENUE AUTHORITIES ARE PRECLUDED FROM FILING THE APPEAL BEFORE THE TRIBUNAL, SINCE THE TAX EFFECT IS LESS THAN .10,00,000/ - IN THIS APPEAL. ACCORDINGLY, THE REVENUE APPEAL IN I.T.(SS)A. 02/MDS/2014 IS DISMISSED AS U N - ADMITTED. 3. SINCE THE QUANTUM APPEAL FILED BY THE REVENUE STANDS DISMISSED, THE PENALTY APPEAL FILED UNDER SECTION 158BFA(2) OF THE ACT BY THE REVENUE HAS NO LEGS TO STAND. ACCORDINGLY, THE APPEAL FILED BY THE REVENUE IN I.T.(SS) A. NO. 01/MDS/2014 AL SO DISMISSED. 4. SINCE WE HAVE DISMISSED THE APPEALS FILED BY THE REVENUE, THE CROSS OBJECTIONS FILED BY THE ASSESSEE HAVE BECOME INFRUCTUOUS AND ACCORDINGLY DISMISSED. 5. IN THE RESULT, BOTH THE APPEALS FILED BY THE REVENUE AND THE CROSS OBJECTIONS FILED BY THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED ON THE 29 TH JANUARY , 20 16 AT CHENNAI. SD/ - SD/ - ( CHANDRA POOJARI ) ACCOUNTANT MEMBER ( DUVVURU RL REDDY ) JUDICIAL MEMBER CHENNAI, DATED, THE 29 . 0 1 .201 6 VM/ - I.T. (SS) A. NO S . 01 & 02 /M/ 14 & C.O. NOS. 07 & 08/M/14 3 / COPY TO: 1. / APPELLANT , 2. / RESPONDENT , 3. ( ) / CIT(A) , 4. / CIT , 5. / DR & 6. / GF.