ITO, Ward-3(1), Gaya V. Sh. Binay kr. Pandey, Aurangabad

MA 27/PAT/2019

AI Insights

The case involves the Income Tax Officer, Wd- 3(1), Gaya as the applicant and Shri Binay Kumar Pandey as the respondent. The revenue filed a Misc. Application against the dismissal of their earlier appeal due to the tax effect being below the monetary limit of Rs. 20 lakh. The Tribunal initially allowed the rectification of the monetary limit to Rs. 50 lakh as per the updated CBDT Circular. However, upon reassessment, it was determined that the tax effect still fell within the limit, leading to the dismissal of the appeal.

• Counselvise Citation: [2022] 140 COUNSELVISE.COM (IT) 112933 (ITAT-PATNA)
• Duration Of Justice: 3 year(s) 7 month(s) 6 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 15-12-2022
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 13-12-2022
• Assessment Year: 2010-2011
• Appeal Filed On: 09-05-2019
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 80IC; 80IC

Judgement Text

1 MA No. 27/Pat/2019 In ITA No.361/Pat/2018 Binay Kumar Pandey, AY: 2010-11. IN THE INCOME TAX APPELLATE TRIBUNAL PATNA BENCH VIRTUAL HEARING AT KOLKATA BEFORE SHRI SONJOY SARMA, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER MA No. 27/Pat/2019 In ITA No.36/Pat/2018 Assessment Year: 2010-11 & ITA No.36/Pat/2018 Assessment Year: 2010-11 Income Tax Officer, Wd- 3(1), Gaya Vs. Shri Binay Kumar Pandey Vill. Godiha, P.O. Balia, Via Amba, Aurangabad (PAN: AECPP8256K) (Applicant) (Respondent) Present for: Applicant by : Shri Rupesh Agrawal, Sr. DR Respondent by : Shri Nishant Maitin, CA Date of Hearing : 14.12.2022 Date of Pronouncement : 16.12.2022 O R D E R PER GIRISH AGRAWAL, Accountant Member: This Misc. Application has been filed by the revenue is against the order of Tribunal dated 08.08.2018 by which the appeal was dismissed on account of tax effect being below the monetary limit of Rs.20 lakh as prescribed by the CBDT circular. Also the appeal has been filed by the revenue is against the order of Ld. CIT(A) dated 20.12.2017. Through this Misc. Application revenue has sought a rectification by pointing out 2 MA No. 27/Pat/2019 In ITA No.361/Pat/2018 Binay Kumar Pandey, AY: 2010-11. the fact that the tax effect is of Rs.23,73,981/- in respect of disallowance made of Rs.92,99,160/- claimed as deduction u/s. 80IC of the Act. The appeal was dismissed vide order dated 08.08.2018 considering the monetary limit prescribed in Circular No. 3/2018 dated 11.07.2018 of Rs.20,00,000/-. 2. We take note of the fact pointed out by the Ld. Sr. DR. We also take note of the revised monetary limits which have been raised from Rs. 20 lakh to Rs.50 lakh in respect of appeals before the Income Tax Appellate Tribunal vide CBDT Circular No. 3 of 2018 dated 11.07.2018. Accordingly, we allow the Misc. Application of the revenue to bring on record the correction in respect of monetary limit referred in the original order of the coordinate bench of ITAT dated 08.08.2018. On having this Misc. Application allowed, the appeal gets reinstituted to its original no. i.e. ITA No. 36/Pat/2018. 2.1. Admittedly, it is a fact on record that CBDT vide its circular no. 17/2019 dated 08.08.2019 had revised the monetary limits from Rs.20,00,000/- to Rs.50,00,000/-. Ld. Sr. DR Shri Rupesh Agrawal fairly submitted that case of the revenue falls within the monetary limit of Rs. 50 lakh and thus even after rectification in the present MA the ultimate result in the appeal will remain same i.e. to be dismissed on account of monetary limit prescribed in the CBDT Circular No. 17 of 2019 dated 08.08.2019 being below Rs.50 lakh. 2.2. Accordingly, considering the revised monetary limits of Rs.50 lakh of tax effect, we dismiss the reinstituted appeal i.e. ITA No. 36/Pat/2018 as the tax effect is of Rs.23,73,981/-. 3 MA No. 27/Pat/2019 In ITA No.361/Pat/2018 Binay Kumar Pandey, AY: 2010-11. 3. In the result, Misc. Application of the revenue is allowed. Also, the appeal vide ITA No. 36/Pat/2018 is dismissed. Order pronounced in the open Court on 16 th December, 2022. Sd/- Sd/- (Sonjoy Sarma) (Girish Agrawal) Judicial Member Accountant Member Dated: 16 th December, 2022. JD, Sr. P.S. Copy to: 1. The Appellant: 2. The Respondent:. 3. CIT(A)- , Patna 4. CIT, Patna 5. DR, ITAT, Patna Bench, Patna 6. Guard file. //True Copy// By Order Assistant Registrar ITAT, Kolkata Benches, Kolkata ...