DCIT, Central Circle - 2(2), Kolkata , Kolkata V. M/s. Rosemary Sponge & Ispat Private Limited , Kolkata

ITSSA 74/KOL/2017

• Counselvise Citation: [2018] 122 COUNSELVISE.COM (IT) 7862 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 2 month(s) 20 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 27-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 07-07-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MD USMAN
• Assessee Lawyers: A K TULSIYAN
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH B, KOLKATA [BEFORE SHRI P.M. JAGTAP, AM & SHRI S.S. VISWANETHRA RAVI, JM] IT(SS) NO. 74/KOL/2017 ASSESSMENT YEAR: 2008-09 A.C.I.T, CENTRAL CIR 2(2) KOLKATA.............................................................................APPELLANT AAYAKAR BHAWAN POORVA, 110, SHANTIPALLY, KOLKATA 700107. M/S. ROSEMARY SPONGE & ISPAT PVT. LTD. .RESPONDENT 1, GARSTIN PLACE, ORBIT HOUSE, 3 RD FLOOR, ROOM NO. 3B, KOLKATA 700 001. [PAN : AADCR 3235 Q] APPEARANCES BY: MD. USMAN, CIT, DR APPEARING ON BEHALF OF THE REVENUE SHRI A.K. TULSIYAN, FCA APPEARING ON BEHALF OF THE ASSESSEE DATE OF CONCLUDING THE HEARING : SEPTEMBER 27, 2018 DATE OF PRONOUNCING THE ORDER : SEPTEMBER 27, 2018 ORDER PER P.M. JAGTAP, AM THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. CIT (A) 20, KOLKATA DATED 22 ND MARCH, 2017 WHEREBY HE DELETED THE VARIOUS ADDITIONS MADE BY THE AO AGGREGATING TO RS. 47,33,184/- TO THE TOTAL INCOME OF THE ASSESSEE. 2. AS SUBMITTED BY LD. COUNSEL FOR THE ASSESSEE AT THE OUTSET, THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LESS THAN THE REVISED MONETARY LIMIT OF RS.20 LACS FIXED BY THE CBDT FOR FILING THE APPEAL OF THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION IS NOT DISPUTED EVEN BY THE LEARNED DR. THE CBDT VIDE ITS RECENT CIRCULAR NO.3/2018 ISSUED ON 11.07.2018 HAS REVISED THE MONETARY LIMIT FOR FILING THE APPEALS OF THE REVENUE BEFORE THE TRIBUNAL TO RS.20 LACS. AS CLARIFIED IN THE SAID CIRCULAR, THE REVISED MONETARY LIMIT OF RS.20 LACS 2 IT(SS) NO. 74/KOL/2017 ASSESSMENT YEAR 2008-09 M/S. ROSEMARY SPONGE & ISPAT PVT. LTD. OR FILING THE REVENUES APPEAL BEFORE THE ITAT WOULD APPLY ALSO TO THE APPEALS ALREADY FILED BY THE REVENUE WHICH ARE PENDING BEFORE THE TRIBUNAL AND THE SAME ARE LIABLE TO BE DISMISSED AS WITHDRAWN/NOT PRESSED. WE ACCORDINGLY TREAT THIS APPEAL OF THE REVENUE INVOLVING THE TAX EFFECT OF LESS THAN RS.20 LACS AS WITHDRAWN/NOT PRESSED KEEPING IN VIEW THE CIRCULAR NO. 3/2018 (SUPRA) ISSUED BY CBDT AND DISMISS. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 27 TH SEPTEMBER, 2018. SD/- SD/- (S.S. VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 27/09/2018 BISWAJIT, SR. PS COPY OF ORDER FORWARDED TO: 1. M/S. ROSEMARY SPONGE & ISPAT PVT. LTD., 1, GARSTIN PLACE, ORBIT HOUSE, 3 RD FLOOR, ROOM NO. 3B, KOLKATA 700 001. 2. DCIT, CENTRAL CIRCLE 2(2), 110, SHANTIPALLY, KOLKATA 700 107. 3. THE CIT(A) 4. THE CIT 5. DR TRUE COPY, BY ORDER, SR. P.S. / H.O.O. ITAT, KOLKATA