Assistant Commissioner of Income-tax, Jalgaon V. Nikki Agro Products Pvt. Ltd., Jalgaon

MA 320/PUN/2022

AI Insights

The case involves the Income Tax Department (Revenue) and M/s. Nikki Agro Products Pvt. Ltd., concerning an appeal initially dismissed by the Tribunal due to the tax effect being below the monetary limit prescribed by the CBDT Circular No.17/2019. However, following an audit objection citing exceptions under the CBDT's Circular 03/2018, the Revenue sought to recall the Tribunal's order for a re-adjudication on merits. The Tribunal accepted the Revenue's application, leading to the recall of the previous order and scheduling a new hearing.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 138066 (ITAT-PUNE)
• Duration Of Justice: 3 year(s) 6 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 31-08-2023
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 31-08-2023
• Assessment Year: 2007-2008
• Appeal Filed On: 26-02-2020
• Laws Referred To: CBDT Circular No.17/2019, CBDT Circular 03/2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Audit objection; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE „A‟ BENCHES :: PUNE BEFORE SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER & SHRI DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER M.A.No. 320/PUN/2022 (Arising out of ITA No.1182/PUN/2016) (A.Y. 2007-08) DCIT, Circle-1, Jalgaon. vs M/s. Nikki Agro Products Pvt. Ltd., Plot No.V-191/1, MIDC Area, Jalgaon-425003 PAN : AABCN 6531 B Applicant Respondent Assessee by : None Revenue by : Shri Suhas Kulkarni, DR Date of hearing : 01/09/2023 Date of pronouncement : 01/09/2023 O R D E R Per PARTHA SARATHI CHAUDHURY, JM: This Misc. Application preferred by the revenue emanates from the order of Tribunal in ITA No. 1182/PUN/2016, dated 13/08/2018 for A.Y.2007-08 as per the grounds of application on record. 2. At the outset, ld.DR submitted that the Tribunal has dismissed the Department‟s appeal in view of the CBDT Circular No.17/2019 dated 08/08/2019 since the tax effect involved was less than the monetary limit prescribed by the Board. It was further submitted that in this case, Audit party has raised objection that the case of the assessee falls under exception 10(c) of the CBDT‟s Circular 03/2018 dated 11/07/2018 as amended vide letter dated 20/08/2018, MA No.320/PUN/2022 M/s. Nikki Agro Products P. Ltd. 2 08/08/2019 & 06/09/2019. Ld.DR, therefore, prayed that in view of the audit objection in the case of the assessee, being accepted by the Department, the order of the Tribunal dated 13/08/2018, needs to be recalled for adjudication of the appeal on merits. 3. Having regard to the above position, we recall the impugned order and direct the Registry to fix the appeal for hearing in the next available date and issue notices to the parties. 4. In the result, Misc. Application filed by the Revenue is allowed. Order pronounced in open Court on 01 st September, 2023. Sd/- Sd/- (DR. DIPAK P. RIPOTE) (PARTHA SARATHI CHAUDHURY) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated : 01 st September, 2023 vr/- Copy to : 1. The Appellant. 2. The Respondent. 3. The Pr. CIT concerned. 5. The DR, ITAT, “A” Bench Pune, Pune. 6. Guard File. By Order // TRUE COPY // Senior Private Secretary ITAT, Pune.