A.C.I.T. WARDHA CIRCLE, Wardha V. M/S VARCO ASSOCIATES, Yavatmal

MA 02/NAG/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 5782 (ITAT-NAGPUR)
• Duration Of Justice: 10 month(s) 17 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 22-01-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2013-2014
• Appeal Filed On: 06-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AGNESH P THOMAS
• Keywords: Tax effect
• Section: 22

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL BENCH, NAGPUR (AT E-COURT, PUNE) BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI PARTHA SARATHI CHAUDHURY, JM . / MA NO.02/NAG/2019 (ARISING OUT OF ITA NO.521/NAG/2016) / ASSESSMENT YEAR : 2013-14 ACIT, WARDHA CIRCLE, WARDHA. ....... / APPELLANT / V/S. M/S. VARCO ASSOCIATES, LAXMI RESIDENCY, NEAR TILAK SMARAK, MAHADEO MANDIR ROAD, YAVATMAL, NAGPUR-445001. PAN : AALFM7378Q / RESPONDENT REVENUE BY : SMT. AGNESH P. THOMAS ASSESSEE BY : SHRI K. P. DEWANI / DATE OF HEARING : 17.01.2020 / DATE OF PRONOUNCEMENT : 22.01.2020 / ORDER PER D. KARUNAKARA RAO, AM: THE PRESENT MISCELLANEOUS APPLICATION ARISES FROM THE REVENUES APPEAL IN ITA NO.521/NAG/2016 VIDE ORDER DATED 24.10.2018 FOR THE ASSESSMENT YEAR 2013-14. 2. THROUGH THIS MISCELLANEOUS APPLICATION, LD. DR FOR THE REVENUE CONTENDED THAT THE APPEAL OF THE REVENUE SHOULD NOT HAVE BEEN DISMISSED CONSIDERING THE FACT THAT THE APPEAL DOES NOT FALL UNDER THE CBDTS CIRCULAR NO.03/2018 DATED 11.07.2018. THE MONETARY LIMIT FOR NON-FILING THE APPEAL BEFORE THE TRIBUNAL IS MENTIONED AS RS.20 LAKHS WHEREAS THE TAX EFFECT IN THE INSTANT CASE IS RS.45,90,296/-. THEREFORE, THE APPEAL IS VERY MUCH MAINTAINABLE IN THE TRIBUNAL. 3. ON THE OTHER HAND, LD. AR FOR THE ASSESSEE VEHEMENTLY JUSTIFIED THE ORDER OF THE TRIBUNAL AND SUBMITTED THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS LESS THAN THE NEW MONETARY LIMIT PRESCRIBED BY THE RECENT CBDT 2 MA NO.02/NAG/2019 CIRCULAR NO.17/2019 [F.NO.279/MISC.142/2007-ITJ (PT)] DATED 08 TH AUGUST, 2019 READ WITH CIRCULAR NO.3 OF 2018 DATED 11.07.2018 FOR FILING OF APPEALS BEFORE THE TRIBUNAL BY THE DEPARTMENT. THE CBDT VIDE CIRCULAR DATED 08-08- 2019 (SUPRA) HAS AMENDED PARA 3 OF CIRCULAR NO.3 OF 2018 DATED 11-07-2018 THEREBY ENHANCING MONETARY LIMIT OF TAX EFFECT FROM RS.20 LAKHS TO RS.50 LAKHS FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL. THEREFORE, THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE. 4. AFTER HEARING BOTH THE PARTIES AND ON PERUSING THE RECENT CBDTS CIRCULAR (SUPRA), WE ARE OF THE OPINION THAT THE TRIBUNAL HOLDING THAT THE APPEAL OF THE REVENUE COMES UNDER THE LOW TAX EFFECT DOES NOT REQUIRE ANY RECTIFICATION/RECALL. THE NEW MONETARY LIMITS APPLY TO OLD APPEALS TOO. CONSIDERING THE SAME, THE MISCELLANEOUS APPLICATION OF THE REVENUE IS DISMISSED. 5. IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED ON THIS 22 ND DAY OF JANUARY, 2020. SD/- SD/- (PARTHA SARATHI CHAUDHURY) (D. KARUNAKARA RAO) / JUDICIAL MEMBER / ACCOUNTANT MEMBER / PUNE; / DATED : 22 ND JANUARY, 2020. SUJEET / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE CIT(A) 4. THE CIT 5. , , / DR, ITAT, NAGPUR. 6. / GUARD FILE. / BY ORDER, // TRUE COPY // SENIOR PRIVATE SECRETARY , / ITAT, PUNE.