The ACIT, Navsari Circle, Navsari V. M/s. Patel Metal, Navsari

MA 28/SRT/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 9406 (ITAT-SURAT)
• Duration Of Justice: 10 month(s) 7 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-01-2021
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2014-2015
• Appeal Filed On: 28-02-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: ANUPAMA SINGLA
• Keywords: Tax effect
• Section: 254(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM MA NO.28/SRT/2020 [ARISING OUT OF ITA NO.426/SRT/2018] ASSESSMENT YEAR: (2014-15) (VIRTUAL COURT HEARING) DEPUTY COMMISSIONER OF INCOME TAX, NAVSARI CIRCLE, NAVSARI. VS. M/S. PATEL METALS, OPP. GIRIRAJ QUARRY, DEGAM, TAL: CHIKLI, NAVSARI. ./ ./ PAN/GIR NO.: AAFFP2918R (REVENUE) (ASSESSEE) REVENUE BY: MS ANUPAMA SINGLA SR. DR ASSESSEE BY: SHRI TUSHAR P. HEMANI, SR. ADVOCATE WITH SHRI PARIMALSINH B. PARMAR, AR / DATE OF HEARING : 01/01/2021 /DATE OF PRONOUNCEMENT : 04/01/2021 / O R D E R PER DR. A. L. SAINI, ACCOUNTANT MEMBER: BY WAY OF CAPTIONED APPLICATION, THE REVENUE HAS SOUGHT TO POINT OUT THAT A MISTAKE APPARENT FROM RECORD WITHIN THE MEANING OF SECTION 254(2) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) HAS CREPT IN THE ORDER OF THE TRIBUNAL DATED 23.08.2019. 2. THE CONTENTION OF THE REVENUE IN THIS MISCELLANEOUS APPLICATION IS THAT THE TAX EFFECT INVOLVED IN THE ASSESSEES CASE IS RS.58,54,274/-. WHICH IS MORE THAN THE MONETARY LIMIT OF RS.50,00,000/- AS PRESCRIBED IN THE CBDT CIRCULAR NO.17/2019 DATED 08.08.2019. THEREFORE, THE TRIBUNAL OUGHT NOT TO HAVE DISMISSED THE REVENUE`S APPEAL ON ACCOUNT OF LOW TAX EFFECT. 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE (DR) FOR THE REVENUE SUBMITTED THAT SINCE THE TAX EFFECT INVOLVED IS RS.58,54,274/- WHICH IS MORE THAN RS.50,00,000/- AS PRESCRIBED BY THE CBDT CIRCULAR NO.17/2019 DATED 08.08.2019. PAGE | 2 MA 28/SRT/2020 ASSESSMENT YEAR. 2014-15 M/S. PATEL METALS THEREFORE, THE ORDER OF THE TRIBUNAL MAY BE RECALLED AND REVENUE`S APPEAL SHOULD BE HEARD ON MERITS. 4. THE LEARNED COUNSEL FOR THE ASSESSEE HAS ALSO AGREED THAT SINCE THE TAX EFFECT INVOLVED IS RS.58,54,274/- WHICH IS MORE THAN RS.50,00,000/- AS PRESCRIBED BY THE CBDT CIRCULAR NO.17/2019 DATED 08.08.2019. THEREFORE, THE ORDER OF THE TRIBUNAL MAY BE RECALLED. 5. WE HAVE HEARD BOTH THE PARTIES AND CAREFULLY GONE THROUGH THE SUBMISSIONS OF THE LD DR FOR THE REVENUE AS WELL AS LD COUNSEL FOR THE ASSESSEE. BEFORE US, THE REVENUE HAS SUBMITTED THE TAX CALCULATION IN THE MISCELLANEOUS APPLICATION, WHICH IS GIVEN IN PARA NO.5 OF THE MISCELLANEOUS APPLICATION WHEREIN THE REVENUE HAS WORKED OUT THE NET TAX EFFECT AT RS.58,54,274/- WHICH IS MORE THAN THE MONETARY LIMIT OF RS.50,00,000/- AS PRESCRIBED IN THE CBDT CIRCULAR NO.17/2019 DATED 08.08.2019. IN VIEW OF THE ABOVE DISCUSSION AND BEARING IN MIND THE FACT THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS INDEED MORE THAN RS.50,00,000/-, WE HEREBY RECALL OUR ORDER DATED 23.08.2019 AND DIRECT THE REGISTRY TO FIX THE MATTER AFRESH FOR HEARING DE NOVO ON MERITS ON 03.02.2021. SINCE THE DATE OF HEARING WAS ANNOUNCED IN THE OPEN COURT, THEREFORE, SEPARATE NOTICE OF HEARING IS NOT REQUIRED. 7. IN THE RESULT, THE MISCELLANEOUS APPLICATION (IN MA.28/SRT/2020 FOR AY.2014-15) FILED BY THE REVENUE IS ALLOWED. ORDER IS PRONOUNCED ON 04/01/2021, AS PER RULE 34 OF INCOME TAX APPELLATE TRIBUNAL, RULE 1963. SD/- SD/- (PAWAN SINGH) (DR. A.L. SAINI) JUDICIAL MEMBER ACCOUNTANT MEMBER LWJR /SURAT / DATE: 04/01/2021 SAMANTA, PS COPY OF THE ORDER FORWARDED TO 1. THE ASSESSEE 2. THE RESPONDENT 3. THE CIT(A) PAGE | 3 MA 28/SRT/2020 ASSESSMENT YEAR. 2014-15 M/S. PATEL METALS 4. PR.CIT 5. DR/AR, ITAT, SURAT 6. GUARD FILE BY ORDER // TRUE COPY // ASSISTANT REGISTRAR/SR. PS/PS ITAT, SURAT