DCIT, Central Circle-1(1), Ahmedabad V. M/s. Oriental Prospecting Co., Ahmedabad

ITSSA 73/AHD/2018

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 5037 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 5 month(s) 26 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 11-09-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2011-2012
• Appeal Filed On: 16-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH (BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER) IT(SS)A. NOS: 73 & 78/AHD/2018 (ASSESSMENT YEARS: 2011-12 & 2013-14) DCIT, CENTRAL CIRCLE-1(1), AHMEDABAD V/S M/S ORIENTAL PROSPECTING CO. 19-21, NARAYAN CHAMBERS, 3 RD FLOOR, ASHRAM ROAD, AHMEDABAD (APPELLANT) (RESPONDENT) PAN: AAAFO3112D APPELLANT BY : SHRI MUDIT NAGPAL, SR. D. R. RESPONDENT BY : NONE ( )/ ORDER DATE OF HEARING : 09 -08-201 9 DATE OF PRONOUNCEMENT : 11-09-2019 PER MAHAVIR PRASAD, JUDICIAL MEMBER 1. THESE APPEALS FILED BY THE REVENUE ARE DIRECTED AGA INST THE ORDER OF THE LD. CIT(A)-11, AHMEDABAD DATED 03.01.2018 PERTAINING TO A.Y. 2011-12 & 2013- 14. IT(SS)A NOS. 73 & 78/AHD/2018 . A.YS. 2011-1 2 & 2013-14 2 2. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD. AR FOR THE ASSESSEE THAT APPEAL FILED BY THE REVENUE IS HIT BY RECENTLY ISSU ED CBDT CIRCULAR NO.17 OF 2019 DATED 08/08/2019 REVISING THE PREVIOUS THRESHO LDS PERTAINING TO TAX EFFECTS. AS PER AFORESAID CIRCULAR, ALL PENDING AP PEALS FILED BY REVENUE ARE LIABLE TO BE DISMISSED AS A MEASURE FOR REDUCING LI TIGATION WHERE THE TAX EFFECT DOES NOT EXCEED THE PRESCRIBED MONETARY LIMIT WHICH IS NOW REVISED AT RS.50 LAKHS. IN THE INSTANT CASE, THE TAX EFFECT ON THE DISPUTED ISSUES RAISED BY THE REVENUE IS STATED TO BE NOT EXCEEDING RS.50 LAKHS A ND THEREFORE APPEAL OF THE REVENUE IS REQUIRED TO BE DISMISSED IN LIMINE. 3. WE THE LEARNED DR FOR THE REVENUE FAIRLY ADMITTED T HE APPLICABILITY OF THE CBDT CIRCULAR NO. 17 OF 2019. ACCORDINGLY, APPEAL O F THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. HOWEVER, IT WILL BE OPEN TO THE REVENUE TO SEEK RESTORATION OF ITS APPEAL ON SHOWING INAPPLICABILIT Y OF THE AFORESAID CBDT CIRCULAR IN ANY MANNER. 4. IN THE RESULT, BOTH THE APPEALS FILED BY THE REVENU E ARE DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 11 - 09- 2019 SD/- SD/- (AMARJIT SINGH) (MAHAVIR PRASAD) ACCOUNTANT MEMBER TRUE COPY JUDICIAL MEMBER AHMEDABAD: DATED 11/09/2019 RAJESH COPY OF THE ORDER FORWARDED TO: -