Assistant Commissioner of Income Tax, Circle - 1(1), Panaji V. Shri Jose Virgilio Velho, Panaji

ITSSA 2/PAN/2018

• Counselvise Citation: [2022] 129 COUNSELVISE.COM (IT) 9805 (ITAT-PANAJI)
• Duration Of Justice: 4 year(s) 4 month(s) 15 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 16-06-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: WT(D)
• Assessment Year: 2006-2007
• Appeal Filed On: 01-02-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RANJAN KUMAR
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, PANAJI BEFORE SHRI C.M. GARG, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER I.T.(SS)A. Nos.02 to 04//PAN/2018 Assessment Years: 2006-07, 2010-11 & 2011-12 CO Nos.07 to 09/PAN/2018 (I.T.(SS)A. Nos.02 to 04//PAN/2018) Assessment Years: 2006-07, 2010-11 & 2011-12 ACIT, Circle-1(1), Panaji, Goa Vs. Shri Jose Virgilio Velho, H.No.102, Bernard Guedes Road, Panaji, Goa. (PAN: ABBPV2512Q) Appellant Respondent Date of Hearing 16.06.2022 Date of Pronouncement 17.06.2022 Assessee by Shri Shreenarayan Toshniwal, CA Department by Shri Ranjan Kumar, CIT, DR ORDER PER BENCH: These appeals have been filed by the Revenue against the orders of the CIT(A)-2, Panaji, dated 30.10.2017 for assessment years 2006-07, 2010-11 & 2011-12. 2. The ld. counsel for the assessee, at the outset, submitted that the tax effect involved in the grounds raised by the Revenue in each of these cases is below Rs.50 lakhs. Therefore, in view of the recent CBDT Circular dated 8 th August, 2019, wherein the CBDT has raised the monetary limit for filing of the appeal by the Revenue before the Tribunal to Rs.50 lakhs, the appeals filed by the Revenue are not maintainable. 2 ITA Nos.02 to 04/PAN/2018 CO Nos.07 to 09/Del/2018 ACIT vs. Shri Jose Virgilio Velho 3. The ld. DR, on the other hand, fairly conceded that the tax effect involved in the grounds raised by the Revenue in each of these appeals is below Rs.50 lakhs. 4. We have considered the rival arguments made by both the sides and perused the material available on record. We find, the tax effect involved in the grounds raised by the Revenue in each of these cases is below Rs.50 lakhs, therefore, in view of the CBDT Circular No.17/2019 dated 8 th August, 2019 and the subsequent clarification dated 20 th August, 2019, vide F.No.279/Misc./M-93/2018-ITJ clarifying that the said Circular is applicable to all pending appeals, the appeals filed by the Revenue are not maintainable and have to be treated as withdrawn on account of low tax effect. Accordingly, the same are dismissed. 5. Since the appeals of the Revenue have been dismissed on ground of low tax effect, the COs filed by the assessee have become infructuous and the same are not pressed, thus, the same (COs) are dismissed as not pressed. 6. In the result, both the appeals filed by the Revenue as well as the COs filed by the assessee are dismissed. Order pronounced in the open court on 17 th June, 2022. Sd/- Sd/- (Girish Agrawal) (C.M. Garg) Accountant Member Judicial Member Dated: 17.06.2022 dk 3 ITA Nos.02 to 04/PAN/2018 CO Nos.07 to 09/Del/2018 ACIT vs. Shri Jose Virgilio Velho Copy of the order forwarded to: 1. Appellant 2. Respondent 3. CIT(A) 4. Pr. CIT 5. DR, ITAT, Panaji, Goa. 6. Guard File True Copy By Order Sr. Private Secretary, ITAT Panaji Bench, Panaji (On Tour)