D.C.I.T CC - XX,kolkata, Kolkata V. M/s Naresh Kumar & Co, Kolkata

ITSSA 60/KOL/2013

• Counselvise Citation: [2016] 122 COUNSELVISE.COM (IT) 2272 (ITAT-KOLKATA)
• Duration Of Justice: 3 year(s) 21 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 13-06-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 13-06-2016
• Assessment Year: 2004-2005
• Appeal Filed On: 23-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SACHCHIDANANDA SRIVASTAVA
• Assessee Lawyers: S K TULSIYAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH A, KOLKATA [BEFORE SHRI WASEEM AHMED, AM & SHRI S.S.VISWANETHR A RAVI, JM ] IT(SS)A NOS. 60 TO 63/KOL/2013 ASSESSMENT YEARS : 2004-05 & 2006-07 TO 2008-09 DCIT, C.C.-XX, KOLKATA VS M/S. NARESH KUMAR & CO. PAN : AABFN 9203H (APPELLANT) (RESPONDENT) FOR THE ASSESSEE : SHRI S.K.TULSIYAN, ADVOCATE FOR THE DEPARTMENT : SHRI SACHCHIDANANDA SRIVASTAVA , CIT,DR DATE OF HEARING : 13.06.2016 DATE OF PRONOUNCEMENT : 13.06.2016 ORDER PER SHRI S.S.VISWANETHRA RAVI, JM ALL THESE FOUR APPEALS IN IT(SS)A NOS. 60 TO 63/KOL/2013 HAVE BEEN PREFERRED BY THE REVENUE AGAINST THE DIFFERENT ORDERS OF VARIOUS DATES PASSED UNDER SECTION 144/153A OF THE I.T. ACT FOR THE ASSESSMENT YEARS 2004-05 & 2006-07 TO 2008-09. 2. AT THE TIME OF HEARING BEFORE US, AS POINTED OU T BY THE LD. COUNSEL FOR THE ASSESSEE, IT IS OBSERVED THAT THE T AX EFFECT INVOLVED IN THESE APPEALS OF THE REVENUE IS LESS THAN THE RE VISED MONETARY LIMIT RECENTLY FIXED BY THE CBDT VIDE CIRCULAR NO.2 1/2015 DATED 10TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING TH E APPEALS BY IT(SS)A NO S. 60 TO 63KOL/2013 M/S. NA RESH KUMAR & CO. 2 THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION C LEARLY EVIDENT FROM THE GROUNDS RAISED BY THE REVENUE IN THESE APP EALS IS NOT DISPUTED EVEN BY THE LD. D.R. IN CIRCULAR NO. 21/20 15 (SUPRA) RECENTLY ISSUED BY THE CBDT, THE MONETARY LIMIT FOR FILING THE APPEALS BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND AS CLARIFIED IN THE SAID CIRCULA R, THE SAID MONETARY LIMIT IS APPLICABLE RETROSPECTIVELY EVEN T O THE APPEALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INST RUCTED THAT SUCH PENDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF RS.10,00,000/- MAY BE WITHDRAWN/ NOT PRESSED. KEEPI NG IN VIEW THE INSTRUCTION GIVEN BY THE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10.12.2015, WHICH IS SQUARELY APPLICABLE IN T HE PRESENT CASES, THE APPEALS FILED BY THE REVENUE IN THESE CA SES ARE TREATED AS WITHDRAWN/NOT PRESSED AND DISMISSED ACCORDINGLY. 3. IN THE RESULT, THE APPEALS FILED BY THE DEPARTME NT ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 13.06.2016 SD/- SD/- (WASEEM AHMED) ( S.S.VISWANETHRA RAVI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 13 /06/2016 IT(SS)A NO S. 60 TO 63KOL/2013 M/S. NA RESH KUMAR & CO. 3 COPY OF THE ORDER FORWARDED TO: 1. M/S. NARESH KUMAR & CO., 9B, WOOD STREET, KOLKA TA 700 016 2 DCIT, CENTRAL CIRCLE-XX, KOLKATA. 3. THE CIT-I, KOLKATA, 4. THE C IT(A)-I, KOLKATA. 5. DR, KOLKATA BENCHES, KOLKATA TRUE COPY, BY ORDER, ASST. REGISTRAR , ITAT, KOLKATA BENCHES TALUKDAR (SR.PS)