DCIT, Ludhiana V. M/s IOL Chemicals & Pharmaceuticals Ltd., Ludhiana

MA 1/CHANDI/2020

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 2800 (ITAT-CHANDIGARH)
• Duration Of Justice: 2 year(s) 7 month(s) 23 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 15-09-2022
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 31-12-0000
• Assessment Year: 2007-2008
• Appeal Filed On: 22-01-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

आयकर अपील य अ धकरण,च डीगढ़ यायपीठ,च डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCH, “A”, CHANDIGARH BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER M.A. No.1/Chd/2020 (In ITA No.61/CHD/2017) Assessment Year :2007-08 The DCIT, C-6, Ludhiana बनाम M/s IOL Chemicals & Pharmaceuticals Ltd., 85, Industrial Area-A, Ludhiana थायीलेखासं./PAN NO: AABCI1842A अपीलाथ /Appellant यथ /Respondent नधा रतीक$ओरसे/Assessee by : None (Adj. Application) राज वक$ओरसे/ Revenue by : Sh. Amarpreet Kaur, Sr. D.R. स ु नवाईक$तार*ख/Date of Hearing : 16.09.2022 उदघोषणाक$तार*ख/Date of Pronouncement : 16.09.2022 आदेश/Order Per Vikram Singh Yadav, Accountant Member: The present Miscellaneous Application has been filed by the Revenue against the consolidated order passed by the Coordinate Bench dated 30.10.2018, including the case of the assessee in ITA No. 61/Chd/2017 pertaining to A.Y. 2007-08. 2. In this regard, the ld. DR submitted that the appeal of the Revenue was dismissed by the Coordinate Bench on account of low tax effect. However, the tax effect involved in the present appeal on the addition of Rs.2,38,55,697/- works out to Rs.81,08,551/-, which is more than the threshold prescribed as per the CBDT Circular No.7/2019 dated 2 08.8.2019. It was accordingly submitted that the order so passed by the Coordinate Bench may be recalled and appeal of the Revenue be heard on merits. 3. Per contra, none appeared on behalf of the assessee. However, an adjournment application has been filed by Shri Ashwani Kumar, C.A., on behalf of the assessee, stating that he has to travel to New Delhi to attend to the appeal proceedings before the New Delhi Benches. 4. After hearing the Ld. D.R. and perusing the material available on record, given that the tax effect involved in the present appeal amounts to Rs.81,08,551/- which is more than threshold prescribed by the CBDT, vide its aforesaid Circular No. 7/2019 dated 08.8.2019, the order passed by the Coordinate Bench is hereby recalled and the Registry is directed to fix the matter in due course to hear the arguments on merits. 5. In view of the same, the adjournment application filed by the assessee is dismissed and miscellaneous application is disposed off in the light of the aforesaid direction. (Order pronounced in the open Court on 16/09/2022) Sd/- Sd/- (SUDHANSHU SRIVASTAVA) (VIKRAM SINGH YADAV) Judicial Member Accountant Member Dated : 16.09.2022 Aks/- 3 आदेशक$ त3ल4पअ5े4षत/ Copy of the order forwarded to : 1. अपीलाथ / The Appellant 2. यथ / The Respondent 3. आयकरआय ु 6त/ CIT 4. आयकरआय ु 6त (अपील)/ The CIT(A) 5. 4वभागीय त न9ध, आयकरअपील*यआ9धकरण, च;डीगढ़/ DR, ITAT, CHANDIGARH 6. गाड फाईल/ Guard File आदेशान ु सार/ By order, सहायकपंजीकार/ Assistant Registrar