ACIT, CHENNAI V. Shri S.S.Chakravarthy, CHENNAI

ITSSA 28/CHNY/2010

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 6697 (ITAT-CHENNAI)
• Duration Of Justice: 9 year(s) 2 month(s) 18 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 06-02-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: misc
• Appeal Filed On: 18-11-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR M SREENIVASA RAO
• Assessee Lawyers: S SRIDHAR
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: CHENNAI , ' # . . % , ' ( BEFORE SHRI RAMIT KOCHAR , ACCOUNTANT MEMBER AND SHRI DUVVURU R.L.REDDY , JUDICIAL MEMBER ./ IT(SS)A NO. 28/CHNY/2010 BLOCK PERIOD 01.04.1987 TO 17.03.1997 THE ASSISTANT COMMISSIONER OF INCOME- TAX, MEDIA CIRCLE-II CHENNAI-600034 / V. SHRI S.S.CHAKRAVARTHY NO.1 , SENTHILANDAVAR STREET, VADAPALANI, CHENNAI-600026 ./ PAN: ADIPC6358A REVENUE BY : DR.M.SREENIVASA RAO CIT-DR ASSESSEE BY : MR.S.SRIDHAR, ADVOCATE * / DATE OF HEARING : 06.02.2020 * /DATE OF PRONOUNCEMENT : 06.02.2020 / O R D E R PER RAMIT KOCHAR, ACCOUNTANT MEMBER: THISAPPEALFILED BY REVENUE IS DISPOSED OF BECAUSE TAX EFFECT IS LESS THAN RS.50 LACSIN THIS APPEALAS PER CBDT CIRCULAR N O.17/2019 (F.NO. 279/MISC.142/2007-ITJ (PT)) DATED 08 TH AUGUST, 2019 ISSUED BY CENTRAL BOARD OF DIRECT TAXES, DEPARTMENT OF REVENUE, MINIS TRY OF FINANCE, GOVERNMENT OF INDIA,AMENDING PARA NO.3 AND 5 OF THE CBDT CIRCULAR NO.3 I.T.(SS) A. NO. 28/CHNY/2010 BLOCK PERIOD : 01.04.1987 TO 17.03.1997 2 OF 2018 DATED 11.07.2018 AND ITS SUBSEQUENT AMENDME NT DATED 20.08.2018. 2. THE LD. CIT-DR FAIRLY SUBMITTED THAT TAX EFFECT INVOLVED IN THIS APPEAL FILED BY REVENUE IS LESS THAN RS.50LACS AND THE APPEALISCOVERED BY CBDT CIRCULAR NO.17/2019 DATED 08.08.2019 BEING A L OW TAX EFFECT APPEALS FILED BY REVENUE. IT IS ALSO EXPLAINED BY L EARNED DR THAT THIS APPEAL FILED BY REVENUEIS ALSO NOT HIT BY ANY OF E XCEPTIONS CARVED OUT IN AFORESAID CBDT CIRCULAR. THE LEARNED COUNSEL FOR TH E ASSESSEE ALSO ADMITTED THAT THIS APPEAL IS COVERED BY AFORESAID C BDT CIRCULAR BEING LOW TAX EFFECT APPEAL AND IS TO BE DISMISSED BEING COVE RED BY AFORESAID CBDT CIRCULAR DATED 08.08.2019. 3. THE TAX EFFECT INTHIS APPEAL FILED BY REVENUEIS UNDISPUTEDLY BELOW RS.50 LACSAND THUS KEEPING IN VIEW CBDT CIRCULAR NO .17/2019 (F.NO.279/MISC.142/2007-ITJ (PT)) DATED 08 TH AUGUST, 2019 ISSUED BY CENTRAL BOARD OF DIRECT TAXES, DEPARTMENT OF REVENU E, MINISTRY OF FINANCE, GOVERNMENT OF INDIA, AMENDING PARA NO.3 AN D 5 OF THE CBDT CIRCULAR NO.3 OF 2018 DATED 11.07.2018 AND ITS SUBS EQUENT AMENDMENT DATED 20.08.2018, WE ARE INCLINED TO DISMISS THISA PPEAL FILED BY REVENUE DUE TO LOW TAX EFFECT INVOLVED INTHIS APPEAL WHICH IS BELOW RS.50 LACS. WHILE DISPOSING OF THIS APPEAL FILED BY REVENUE DUE TO LOW TAX EFFECT VIDE AFORESAID CBDT CIRCULAR NO.17/2019 DATED 08.08.2019 , WE CLARIFY THAT WE HAVE NOT COMMENTED ON MERITS OF THE ISSUE(S) INTHIS APPEAL.HOWEVER, AT THE SAME TIME WE ARE GRANTING LIBERTY TO REVENUE TH AT IF AT ANY STAGE REVENUE WANTS TO AGITATE THE MATTER/ISSUE(S) IN THI S APPEALIN ACCORDANCE WITH THE CLAUSES/EXCEPTIONS AS ARE CONTAINED IN THE AFORE-STATED CBDT CIRCULAR NUMBER 17/2019 DATED 08.08.2018 READ WITH CBDT CIRCULAR NO 3/2018 DATED 11.07.2018 AS MODIFIED ON 20.08.2018, THE REVENUE IS HEREBY GRANTED LIBERTY TO FILE MISCELLANEOUS APPLIC ATION PRAYING FOR RECALL OF THIS ORDERACCORDINGLY. WE ORDER ACCORDINGLY. I.T.(SS) A. NO. 28/CHNY/2010 BLOCK PERIOD : 01.04.1987 TO 17.03.1997 3 4. IN RESULT, THEAPPEALFILED BY REVENUE IN IT(SS)A NO. 28/CHNY/2010 FOR BLOCK PERIOD:01.04.1987 TO 17.03.1997STANDDISMI SSED OWING TO LOW TAX EFFECT AS INDICATED ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON 06.02.2020. * . / 06.02.2020 * SD/- SD/- ( ' # . . % ) (DUVVURU R.L.REDDY) ' /JUDICIAL MEMBER ( ) (RAMIT KOCHAR) /ACCOUNTANT MEMBER /CHENNAI, / /DATED: 06 TH FEBRUARY 2020. TLN * 3'4 54 /COPY TO: 1. 6 /APPELLANT 4. 7 /CIT 2. 386 /RESPONDENT 5. 4 3'' /DR 3. 7 ( ) /CIT(A) 6. < /GF