ITO WARD - 14(4), New Delhi V. KTG Complex Pvt Ltd, New Delhi

MA 322/DEL/2022

• Counselvise Citation: [2024] 101 COUNSELVISE.COM (IT) 6305 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 7 month(s) 30 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 25-06-2024
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 26-10-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PARUL SINGH
• Assessee Lawyers: PARTH SINGHAL
• Keywords: Tax effect; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’: NEW DELHI BEFORE, SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER MA No.322/Del/2022 Arising out of ITA No.8340/Del/2019 (ASSESSMENT YEAR 2010-11) Income Tax Officer Ward-14(3) New Delhi Vs. M/s KTG Complex Pvt. Ltd. J-2/13, Rajouri Garden New Delhi-110027 PAN-AACCK7714N (Appellant) (Respondent) Assessee by Shri Parth Singhal, Adv. Department by Ms. Parul Singh, Sr. DR Date of Hearing 21/06/2024 Date of Pronouncement 26/06/2024 ORDER PER S.RIFAUR RAHMAN, AM: 1. This present Miscellaneous Application is filed by the Revenue against the ITA No.8340/Del/2019 for the reason that the appeal of the Revenue was dismissed with the findings that the tax effect of the appeal filed by the Revenue is less than 50 lacs and based on the CBDT Circular No. 17/2019 dt. 08/08/2019. 2 MA No.322/Del/2022 ITO vs. KTG Complex Pvt. Ltd. 2. At the time of hearing, the Ld. AR submitted that no doubt the assessed income of the assessee is at Rs.90,99,143/-, but the actual addition made by the Assessing Officer was Rs.1,58,50,130/-, therefore, the tax effect on the actual disallowance of loss claimed by the assessee is more than 50 lacs, therefore, the appeal filed by the Revenue may be recalled for adjudication. 3. On the other hand, the Ld. AR relied on the orders of ITAT and submitted that there is no mistake apparent on record. 4. Considered the rival submissions and material placed on record, we observed that the Assessing Officer has disallowed the loss claim by the assessee of Rs.1,58,50,130/- and computed the total taxable income of the assessee at Rs.90,99,143/-. Even, Ld. CIT(A)-5, New Delhi has adjudicated the appeal with the assessed income of Rs. 90,99,143/- and tax demand of Rs.46,39,198/- even the Revenue filed the Form-36 before us with the total tax effect of Rs.48,97,690/-, therefore, we cannot agree with the reasons mentioned in the Miscellaneous Application and also submissions 3 MA No.322/Del/2022 ITO vs. KTG Complex Pvt. Ltd. of the Ld. DR. Accordingly, we dismissed the Miscellaneous Application filed by the Revenue. 5. In the result, the Miscellaneous Application filed by the Revenue is dismissed. Order pronounced on 26 th June, 2024. Sd/- Sd/- (YOGESH KUMAR U.S.,) (S.RIFAUR RAHMAN) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated: 26/06/2024 Pk/sps Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI