DCIT, CC-1(3), Kolkata, Kolkata V. M/S. Rungta Mines Ltd., Kolkata

ITSSA 29/KOL/2015

• Counselvise Citation: [2016] 122 COUNSELVISE.COM (IT) 2605 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 7 month(s) 28 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 17-10-2016
• Appeal Filed By: Department
• Bench Allotted: A
• Assessment Year: 2006-2007
• Appeal Filed On: 19-02-2015
• Court: TRIBUNAL
• Department Lawyers: R S BISWAS
• Keywords: Tax effect

Judgement Text

1 IT(SS)A NO.29/KOL/2015 RUNGTA MINES LTD., AY 2006-07 IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH: KOL KATA [BEFORE SHRI M. BALAGANESH, AM & SHRI S. S. VISWAN ETHRA RAVI, JM] I.T(SS).A NO. 29/KOL/2015 ASSESSMENT YEAR: 2006-07 DEPUTY COMMISSIONER OF INCOME-TAX, VS. M/S. RUNGT A MINES LTD. C. C. 1(3), KOLKATA. (PAN: AABCR6463N) ( APPELLANT ) ( RESPONDENT ) DATE OF HEARING: 17.10.2016 DATE OF PRONOUNCEMENT: 17.10.2016 FOR THE APPELLANT: SHRI R. S. BISWAS, CIT, DR FOR THE RESPONDENT: SHRI SUBHAS AGARWAL, ADVOC ATE ORDER PER SHRI M. BALAGANESH, AM: THIS APPEAL BY REVENUE IS ARISING OUT OF ORDER OF C IT(A)-20, KOLKATA VIDE APPEAL NO. 16/CC-1(3)/CIT(A)-20/14-15 DATED 12.12.2014. ASSESS MENT WAS FRAMED BY DCIT, CENTRAL CIRCLE-V, KOLKATA U/S. 143(3)/153A/153D OF THE INCO ME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR AY 2006-07 VIDE HIS ORDER DATE D 21.03.2014. 2. AT THE OUTSET, IT IS SEEN THAT THE QUANTUM INVO LVED IN THIS CASE IS RS.11,50,505/-AND TAX EFFECT ON THE DISPUTED ADDITION BEFORE US IS RS .3,87,260/-, WHICH IS LESS THAN RS. 10 LACS. 3. AFTER PERUSING THE MATERIALS AVAILABLE ON RECOR D, WE FIND THAT THE ADDITIONS DISPUTED BEFORE US IS BELOW THE TAX EFFECT LIMIT PRESCRIBED BY CBDT VIDE CIRCULAR NO. 21 / 2015 DATED 10.12.2015 FOR PREFERRING APPEALS BEFORE TRIB UNAL BY THE REVENUE. ON PERUSAL OF THE CIRCULAR NO. 21 / 2015 DATED 10.12.2015 AND THE MAT ERIALS AVAILABLE ON RECORD, LD. DR COULD NOT POINT OUT WHETHER THIS CASE FALLS UNDER A NY OF THE EXCEPTION AS PROVIDED IN THE CIRCULAR DESPITE SPECIFIC OPPORTUNITY WAS GIVEN, DO ES NOT FALL UNDER ANY OF THE EXCEPTIONS CONTEMPLATED IN THE SAID CIRCULAR, AS THIS IS COVER ED. WE ALSO FIND THAT THE CIRCULAR MAKES IT VERY CLEAR THAT THE REVISED MONETARY LIMITS SHALL A PPLY RETROSPECTIVELY TO PENDING APPEALS ALSO. WE FIND THAT THE CIRCULAR IS BINDING ON THE T AX AUTHORITIES. THIS POSITION HAS BEEN CONFIRMED BY THE HONBLE APEX COURT IN THE CASE OF COMMISSIONER OF C USTOMS VS INDIAN OIL CORPORATION LTD REPORTED IN 267 ITR 272 (SC). HENCE, WE HOLD THAT THE APPEAL OF THE REVENUE DESERVES TO BE DISMISSED IN TERMS OF LOW TA X EFFECT VIDE CIRCULAR NO.21 / 2015 DATED 2 IT(SS)A NO.29/KOL/2015 RUNGTA MINES LTD., AY 2006-07 10.12.2015. ACCORDINGLY, THIS BEING A LOW TAX EFFE CT CASE, WE DISMISS THIS APPEAL OF REVENUE IN LIMINE, AS UNADMITTED, WITHOUT GOING INTO THE ME RITS OF THE CASE. 4. IN THE RESULT, THE APPEAL OF REVENUE IS DISMISSE D. 5. ORDER IS PRONOUNCED IN THE OPEN COURT. SD/- SD/- (S.S. VISWANETHRA RAVI) (M. BALAGANESH) JUDICIAL MEMBER ACCOUNTAN T MEMBER DATED : 17 TH OCTOBER, 2016 JD.(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1 . APPELLANT DCIT, CENTRAL CIRCLE-1(3), KOLKATA 2 RESPONDENT M/S. RUNGTA MINES LTD., 8A, EXPRESS TOW ER, 42A, SHAKESPEARE SARANI, KOLKATA-700 017. 3 . THE CIT(A), KOLKATA 4. 5. CIT , KOLKATA DR, KOLKATA BENCHES, KOLKATA / TRUE COPY, BY ORDER, ASSTT. REGISTRAR .