Chougule & Company (P) Ltd., Goa V. Asst. Commissioner of Income Tax, Circle-2, Margao., Margao

MA 20/PAN/2015

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 3913 (ITAT-PANAJI)
• Duration Of Justice: 9 month(s) 7 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-01-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Next Hearing Date: 13-01-2016
• Assessment Year: misc
• Appeal Filed On: 06-04-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PRASHANT GADEKAR LD
• Assessee Lawyers: KISHORE M BANDEKARC A
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH, PANAJI BEFORE SHRI NARENDRA S. SAINI , HONBLE ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN , HONBLE JUDICIAL MEMBER ITA NO. 288 /PNJ/201 4 : (ASST. Y R : 2004 - 05 ) A SS T. COMMISSIONER OF INCOME TAX, CIRCLE - 2, MARGAO, GOA ( APPELLANT) VS. M/S CHOWGULE & COMPANY PVT. LTD. CHOWGULE HOUSE, MORMUGAO HARBOUR, GOA. PAN : AAACC5479J. (RESPONDENT) CO NO. 39/PNJ/2014 : (ASST. YR : 2004 - 05) (ARISING OUT OF ITA NO.288/ PNJ/2014) M/S CHOWGULE & COMPANY PVT. LTD. CHOWGULE HOUSE, MORMUGAO HARBOUR, GOA. PAN : AAACC5479J. ( CROSS OBJECTOR ) MA NO. 20/PNJ/2015 ( ARISING OUT OF ITA NO.288/ PNJ/2014) M/S CHOWGULE & COMPANY PVT. LTD. CHOWGULE HOUSE, MORMUGAO HARBOUR, GOA. PAN : AAACC5479J. ( APPELLANT ) VS. VS. A SS T. COMMISSIONER OF INCOME TAX, CIRCLE - 2, MARGAO, GOA (RESPONDENT) (ASST. YR : 2004 - 05) A SS T. COMMISSIONER OF INCOME TAX, CIRCLE - 2, MARGAO, GOA (RESPONDENT) ASSESSEE BY : SHRI KISHORE M. BANDEKAR,C.A. REVENUE BY : SHRI PRASHANT GADEKAR, LD. DR. D ATE OF HEARING : 1 3 / 0 1 /201 6 DATE OF ORDER : 1 3 / 0 1 /201 6 2 ITA NO. 288/PNJ/2014, CO. NO. 39/PNJ/2014 &MA NO. 20/ PNJ/2015 (ARISING OUT OF ITA NO.288/PNJ/2014) (ASST. YR: 2004 - 05) O R D E R PER GEORGE MATHAN : ITA NO. 288 /PNJ/201 4 IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF THE L D. CIT( A ), PANAJI IN ITA NO.283/MRG/11 - 12 DATED 1 5 .0 5 .201 4 FOR ASSESSMENT YEAR 2004 - 05. 2. CO NO.39 /PNJ/201 4 IS CROSS OBJECTION FILED BY THE ASSESSEE IN THE REVENUES APPEAL IN ITA NO.288/PNJ/2014. 3. MA NO. 20/PNJ/2015 IS A MISCELL ANEOUS APPLICATION FILED BY THE ASSESSEE. IN ITA NO. 288/PNJ/2014 AND CO NO.39/PNJ/2014 IN RESPECT OF THE ORDER PASSED DATED 15.01.2015. 4. SHRI PRASHANT GADEKAR, LD. DR REPRESENTED ON BEHALF OF THE REVENUE. SHRI KISHORE M. BANDEKAR, C.A, REPRESENTED ON BEHALF OF THE ASSESSEE. 5. ORIGINALLY THE CO - ORDINATE BENCH OF THIS T RIBUNAL HAS DISPOSED OF THIS APPEAL IN REVENUES APPEAL OF ITA NO. 288/PNJ/2014 AND CO NO.39/PNJ/2014 BY THE ORDER DATED 15.01.2015 WHEREIN, THE APPEAL OF THE REVENUE WAS ALLOWED AN D THE CROSS OBJECTION FILED BY THE ASSESSEE WAS DISMISSED. THIS WAS THE SUBJECT MATTER OF AN APPEAL BEFORE THE HON'BLE JURISDI CTIONAL HIGH COURT OF BOMBAY I N TAX APPEAL NO. 43/2015 AND HAD SET ASIDE THE ORDER OF THE TRIBUNAL AND RESTORED THE APPEAL AND THE CROSS OBJECTION FOR RE - ADJUDICATION. CONSEQUENTLY, THE APPEALS ARE POSTED FOR HEARING. THE ASSESSEE HAS FILED A LETTER DATED 11.01.2016 WHEREIN THE ASSESSEE HAS SUBMITTED THAT IN RESPECT OF ITA NO. 288/PNJ/2014 THE REVENUES APPEAL , THE TAX EFFECT IS BELOW RS. 10 LAKHS AND IN VIEW OF THE CIRCULAR NO.21/2015 DATED 10.12.2015 THE REVENUES APPEAL WAS 3 ITA NO. 288/PNJ/2014, CO. NO. 39/PNJ/2014 &MA NO. 20/ PNJ/2015 (ARISING OUT OF ITA NO.288/PNJ/2014) (ASST. YR: 2004 - 05) NOT MAINTA INA BLE. THE ASSESSEE HAS ALSO SUBMITTED THAT THE ASSESSEE IS NOT PRESSING THE CROSS OBJECTION SEPARATELY. 6. THE LD. DR DID NOT RAISE ANY OBJ ECTION TO THE SAME. CONSEQUENTLY, THE REVENUES APPEAL IN ITA NO. 288/PNJ/2014 IS DISMISSED IN VIEW OF THE LOW TAX EFFECT IN VIEW OF CIRCULAR NO. 21/2015 DATED 10.12.2015 AND THE CROSS OBJECTION IN CO NO.39/PNJ/2014 STANDS DISMISSED AS WITHDRAWN. FURTHER THE ORDER OF THE TRIBUNAL DATED 15.01.2015 HAS ALREADY BEEN SET ASIDE BY THE HON'BLE JURISD ICTIONAL HIGH COURT OF MADRAS. CONSEQUENTLY, THE MISCELLANEOUS APPLICATION FILED BY THE ASSESSEE HAS BEEN WITHDRAWN AND SIMILARLY STANDS DISMISSED AS WITHDRAWN. 7 . IN THE RESULT, THE APPEAL OF THE REVENUE IN ITA NO. 288/PNJ/2014 AND THE CO FILED ON THE ASSESSEE IN CO NO.39/PNJ/2014 STANDS DISMISSED. MA NO. 20/PNJ/2015 FILED BY THE ASSESSEE STANDS DISMISSED AS WITHDRAWN. 8 . ORDER PR ONOUNCED IN THE OPEN COURT ON 1 3 . 0 1 .201 6 . SD/ - ( NARENDRA S. SAINI ) ACCOUNTANT MEMBER SD/ - ( GEORGE MATHAN) JUDICIAL MEMBER PLACE : PANAJI - GOA DATED : 1 3 / 0 1 /201 6 *A* COPY TO : (1) APPELLANT (2) RESPONDENT 4 ITA NO. 288/PNJ/2014, CO. NO. 39/PNJ/2014 &MA NO. 20/ PNJ/2015 (ARISING OUT OF ITA NO.288/PNJ/2014) (ASST. YR: 2004 - 05) (3) CIT CONCERNED (4) CIT(A) CONCERNED (5) D.R (6) GUARD FILE TRUE COPY, BY ORDER ASSISTANT REGISTRAR ITAT, PANAJI BENCH, PANAJI