ITO, Ward-2(3), Cuttack V. Manish Kumar Singhania, Cuttack

MA 12/CTK/2020

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 3897 (ITAT-CUTTACK)
• Duration Of Justice: 1 year(s) 2 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 16-06-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2014-2015
• Appeal Filed On: 21-03-2021
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI GEORGE MATHAN, JM & SHRI ARUN KHODPIA, AM Miscellaneous Application No.12/CTK/2020 (Arising out of IT A No.304/CT K/2019) (नििाारण वषा / AY. :2014-2015) ITO, Ward-2(3), Cuttack Vs Shri Manish Kumar Singhania C/o- Singhania Enterprises Matha Sahi, Choudhury Bazar Cuttack PAN No. : ACTPS 8120 J (अऩीऱाथी /Appellant) .. (प्रत्यथी / Respondent) राजस्व की ओर से /Revenue by : Shri J.K.Lenka, Sr. DR ननधााररती की ओर से /Assessee by : Shri Mohit Sheth, AR स ु नवाई की तारीख / Date of Hearing : 17/06/2022 घोषणा की तारीख/Date of Pronouncement : 17/06/2022 आदेश / O R D E R Per George Mathan, JM: This miscellaneous application is filed by the revenue against the order of the Tribunal in ITA No.304/CTK/2019, dated 15.11.2019. 2. It was submitted by the ld. DR that the issue involved in the appeal was in respect of penny stock. It was the submission that the Tribunal has dismissed the appeal of the revenue on account of tax effect by relying upon the Circular issued by the CBDT in Circular No.17/2019, dated 8 th August, 2019. It was his further submission that the subsequent Circular No.23 of 2019 issued by the CBDT, dated 6 th September, 2019 provides exceptions in respect of filing appeals. It was also the submission that further the CBDT has issued Office Memorandum dated 16 th September, 2019 exempting the cases involving Long Term Capital MA No.12/CTK/2020 2 Gains(LTCG)/Short Term Capital Loss(LTCL) through penny stocks from monetary limits specified in the earlier circulars and, therefore, the ld. DR submitted that the appeal of the revenue dismissed by the Tribunal holding the same as below the tax limit, is a mistake apparent from the record of the Tribunal and the same deserves to be recalled. 3. In reply, ld. AR vehemently opposed to recall of the order passed by the Tribunal dated 15.11.2019. It was his submission that the appeal in assessee’s case was before the issuance of memorandum. It was his submission that no mistake apparent from the order of the Tribunal has been pointed out by the ld. DR. 4. We have considered rival submissions. 5. A perusal of the facts of the present case clearly shows that the Circular No.23/2019, dated 6 th September, 2019 is a circular for the benefit of the assessee, insofar as the monetary limit has been prescribed. The Office Memorandum dated 16.09.2019 is not a part of the circular but is only a clarification in respect of the Circular more so a special order to the authorities under the control of the CBDT in respect of the filing of the appeals. The Circular No.23/2019, admittedly, is in respect of the filing of the appeals as the monetary limit has been fixed in respect of the filing of the appeals, it has been given retrospective effect in respect of monetary limits in respect of appeals already pending also. It is trite law that any circular i.e. to the benefit of the assessee shall be applied and it is not compulsory for direction issued by the CBDT to its subordinates, which are not in favour of the assessee to be complied with MA No.12/CTK/2020 3 by any court or judicial authority or any appellate authority. This being so, it cannot be said that the Office Memorandum dated 16 th September, 2019 would not protect any of the pending appeals, which have been filed before the issuance of Circular No.23/2019. This being so, as no error has been pointed out by the revenue in the order dated 15.11.2019 passed by the Tribunal in ITA No.304/CTK/2019, therefore, the miscellaneous application filed by the revenue stands dismissed. 6. In the result, miscellaneous application filed by the revenue is dismissed. Order pronounced and dictated in the open court on 17/06/2022. Sd/- (ARUN KHODPIA) Sd/- (GEORGE MATHAN) ऱेखा सदस्य / ACCOUNTANT MEMBER न्यानयक सदस्य / JUDICIAL MEMBER कटक Cuttack; ददनाांक Dated 17/06/2022 Prakash Kumar Mishra, Sr.P.S. आदेश की प्रनिलऱपप अग्रेपषि/Copy of the Order forwarded to : आदेशाि ु सार/ BY ORDER, (Assistant Registrar) आयकर अपीऱीय अधिकरण, कटक/ITAT, Cuttack 1. अऩीऱाथी / The Appellant- ITO, Ward-2(3), Cuttack 2. प्रत्यथी / The Respondent- Shri Manish Kumar Singhania C/o- Singhania Enterprises Matha Sahi, Choudhury Bazar Cuttack 3. आयकर आय ु क्त(अऩीऱ) / The CIT(A), 4. आयकर आय ु क्त / CIT 5. ववभागीय प्रनतननधध, आयकर अऩीऱीय अधधकरण, कटक / DR, ITAT, Cuttack 6. गार्ा पाईऱ / Guard file. सत्यावऩत प्रनत //True Copy//