ACIT, Ludhiana V. M/s Calcutta Knitwears, Ludhiana

ITSSA 20/CHANDI/2008

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 0696 (ITAT-CHANDIGARH)
• Duration Of Justice: 10 year(s) 28 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 27-11-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: misc
• Appeal Filed On: 30-10-2008
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: ASHISH GUPTA
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH A , CHANDIGARH , !' , # $ % & ' , ()' BEFORE: SMT.DIVA SINGH, JM & SMT.ANNAPURNA GUPTA, A M ./ IT(SS)A NO.20/CHD/2008 /BLOCK PERIOD 1.4.1996 TO 31.3.2002 THE A.C.I.T., CIRCLE VII, LUDHIANA. M/S CALCUTTA KNITWEARS, BINDRABAN ROAD, CIVIL LINES, LUDHIANA. ./PAN NO: AAAFC6025B /APPELLANT /RESPONDENT /ASSESSEE BY : SHRI ASHISH GUPTA, CIT DR ! / REVENUE BY : SHRI HARI OM ARORA, ADV. '# $ /DATE OF HEARING : 27.11.2018 %&'(# /DATE OF PRONOUNCEMENT: 27.11.2018 (* /ORDER PER ANNAPURNA GUPTA, A.M . : THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-I1, LUDHIANA (IN SHORT CIT(A)) DATED 27.8 .2008 PASSED U/S 250(6) OF THE INCOME TAX ACT, 1961 (IN S HORT REFERRED TO AS ACT) FOR THE BLOCK PERIOD 1.4.1996 TO 31.3.2002. 2. AT THE OUTSET, THE LD. AR HAS STATED THAT TAX EF FECT INVOLVED IN THE PRESENT CASE IS LESS THAN RS. 20 LA CS. THE LD. DR HAS ALSO FAIRLY ADMITTED THAT CBDT CIRCULAR NO. 3/2018 IS APPLICABLE TO THIS APPEAL, HENCE, THIS APPEAL OF THE REVENUE IS LIABLE TO BE DISMISSED. ITA NO.1036/CHD/2018 A.Y.2013-14 2 3. IT MAY BE NOTED THAT CBDT VIDE CIRCULAR NO. 3/20 18 DATED 11.07.2018 HAS REVISED THE MONETARY LIMIT UPT O RS.20 LACS FOR FILING APPEALS BY THE DEPARTMENT BEFORE TH E TRIBUNAL AND FURTHER VIDE PARA 13 OF THE SAID CIRCULAR IT HA S BEEN CLARIFIED THAT SAID CIRCULAR IS APPLICABLE RETROSPE CTIVELY TO THE PENDING APPEALS ALSO. THE HONBLE PUNJAB & HARY ANA HIGH COURT IN THE CASE OF PRINCIPAL CIT OF INCOME TAX VS. SURINDER KUMAR SINGHAL ITA NO 406-2016 (O&M) VIDE ORDER DATED 30.1.2017 WHILE FURTHER RELYING UPON THE DECI SION OF THE HON'BLE SUPREME COURT IN THE CASE OF CIT VS. DHANALEKSHMI BANK LTD. (2015) 373 ITR 526 (SC), HA S DISMISSED THE APPEAL OF THE REVENUE WITHOUT GOING I NTO THE MERITS DUE TO LOW TAX EFFECT LEAVING THE QUESTION O F LAW OPEN. IN VIEW OF THE CBDT CIRCULAR NO. 03/2018 (SUPRA) AN D IN THE LIGHT OF THE ABOVE REFERRED TO DECISION OF THE HON' BLE JURISDICTIONAL PUNJAB & HARYANA HIGH COURT (SUPRA) , THE PRESENT APPEAL OF THE REVENUE IS DISMISSED DUE TO L OW TAX EFFECT. 4. IT IS, HOWEVER, CLARIFIED THAT THE DISMISSAL OF THE ABOVE APPEAL SHALL NOT BE TAKEN TO BE AFFIRMATION OF THE ORDER OF THE CIT(A) ON MERITS. THE LEGAL ISSUE RAISED BY THE REVENUE IS BEING LEFT OPEN TO BE ADJUDICATED IN AN APPROPRI ATE CASE. 5. IN THE RESULT, THE DEPARTMENTAL APPEAL IS DISMIS SED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- # $& % ' (DIVA SINGH) (ANNAPURNA GUPTA) +' / JUDICIAL MEMBER ()' / ACCOUNTANT MEMBER # /DATED: 29 TH NOVEMBER, 2018 ITA NO.1036/CHD/2018 A.Y.2013-14 3 * * &) *+,+ / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. - $ / CIT 4. - $ ( )/ THE CIT(A) 5. +./ 0 , #0 , 123/4 / DR, ITAT, CHANDIGARH 6. /35' / GUARD FILE &) $ / BY ORDER, 6 ! / ASSISTANT REGISTRAR