United Bank of India, Kolkata V. DCIT, Circle - 6, Kolkata, Kolkata

MA 100/KOL/2011

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4527 (ITAT-KOLKATA)
• Duration Of Justice: 4 year(s) 8 month(s) 17 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 15-07-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 1998-1999
• Appeal Filed On: 28-10-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: SALLONG YADEN A
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH A KOLKATA BEFORE SHRI N.V.VASUDEVAN, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER (MISC. APPLICATION) NO.100/KOL/2011 (ARISING OUT ITA NO.572/KOL/2012) / ASSESSMENT YEAR:2006-07 DCIT, CIRCLE-9, AYAKAR BHAWAN, 5 TH FLOOR, P-7, CHOWRINGHEE SQUARE KOLKATA-700 069 / V/S . M/S NAL PROPERTIES PVT. LTD., 42, KALI KRISHNA TAGORE STREET, GROUND FLOOR, KOLKATA [ PAN NO.AACCN 0153 G ] (ORIGINAL APPELLANT) (ORIGINAL R ESPONDENT) (APPELLANT) .. (RESPONDENT) / BY APPELLANT SHRI SALLONG YADEN, ACIT-DR / BY RESPONDENT NONE ! / DATE OF HEARING 15-07-2016 '# ! / DATE OF PRONOUNCEMENT 15-07-2016 / ORDER PER WASEEM AHMED, ACCOUNTANT MEMBER:- THIS MISCELLANEOUS APPLICATION (MA) IS FILED BY THE REVENUE SEEKING RECALL OF TRIBUNAL ORDER BEING LOW TAX EFFECT DATED 29-05-2015. HOWEVER, NONE APPEARED ON BEHALF OF ASSESSEE AND THE MA IS TAKEN UP FOR HEARING IN THE ABSENCE OF ASSESSEE. 2. AT THE TIME OF HEARING LD DR REQUESTED THE BENC H THAT ORDER PASSED FOR DISMISSING THE APPEAL FOR HAVING LOW TAX EFFECT OF 4 LAKHS IN VIEW OF CBDTS INSTRUCTION NO. 5 OF 2014 DATED 10.07.2014 BUT THE TAX EFFECT IS MORE THAN RS.4 LAKH AND TAX IS OF RS. 6,89,045/- AS PER CALCU LATION. MA NO100./KOL/2015 DCIT CIR.9 KOL V. NAL PROPERTIES PVT. LTD. PAGE 2 3. WE HAVE HEARD LD. DR AND PERUSED THE MATERIALS A VAILABLE ON RECORD. AT THE OUTSET, WE FIND THAT LIMIT FOR LOW TAX EFFEC T HAS INCREASED FROM RS. 4 LACS TO RS. 10 LACS BY THE CIRCULAR NO. 2/2015 ISSUED BY THE CBDT DATED 10.12.2015 WHICH INSTRUCTS THAT SUCH PENDING APPEAL S BELOW THIS SPECIFIED TAX LIMIT OF RS. 10 LACS MAY BE WITHDRAWN / NOT PRESSED . KEEPING IN VIEW THE INSTRUCTION GIVEN BY THE CBDT CIRCULAR NO. 2/2015 D ATED 10.12.2015 IS SQUARELY APPLICABLE. AS THE NEW LIMIT WILL BE APPLI CABLE IN THE INSTANT CASE, THEREFORE WE DO NOT FIND ANY REASON TO RECALL THE A PPEAL. HENCE THE MA OF REVENUE IS DISMISSED. 4. IN THE RESULT, MA OF REVENUE IS DISMISSED. ORDER PRONOUNCED ON THE DATE OF HEARING I.E. 15.07 .2016 SD/- SD/- (%&) (!&) (N.V.VASUDEVAN) (WASEE M AHMED) (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) KOLKATA, *DKP ()*- 15 / 07 /201 6 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-DCIT, CIR-9, AYAKAR BHAWAN, 5 TH FLOOR, P7, CHOWRINGHEE SQ., KOL-69 2. /RESPONDENT-M/S NAL PROPERTIES PVT. LTD., 42, KALI KRISHNA TAGORE ST, GR.FL, KOL-45 3.)2)3 4 / CONCERNED CIT 4. 4- / CIT (A) 5.783, 3 , KOLKATA / DR, ITAT, KOLKATA 6.8; <= / GUARD FILE. BY ORDER/ , /TRUE COPY/ /) 3 , #