The AD/JT/CIT/Cochin, Cochin V. M/s. V Guard Industries Ltd, Kochi

MA 74/COCH/2018

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2393 (ITAT-COCHIN)
• Duration Of Justice: 9 month(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-09-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 30-08-2019
• Assessment Year: 2010-2011
• Appeal Filed On: 04-12-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A S BINDHU
• Assessee Lawyers: ARYA ANIL
• Keywords: Tax effect
• Section: 268A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI CHANDRA POOJAR I, AM & SHRI GEORGE GEORGE K, JM MA NO. 74 /COCH/201 8 : ASST.YEAR 2010 - 2011 (ARISING OUT OF ITA NO. 380 /COCH/201 7) THE ASST.COMMISSIONER OF INCOME - TAX, CORP.CIRCLE KOCHI. VS. M/S.V.GUARD INDUSTRIES LIMITED, 33/2905F VENNALA HIGH SCHOOL ROAD, VENNALA KOCHI 682 025. PAN : AAACV5492Q. ( APPLICANT ) (RESPONDENT) APPLICANT BY : SMT.A.S.BINDHU, SR.DR RESPONDENT BY : MS.ARYA ANIL DATE OF HEARING : 30.08.2019 DATE OF PRONOUNCEMENT : 04 .09.2019 O R D E R PER GEORGE GEORGE K., JM THIS MISCELLANEOUS APPLICATION U/S.254(2) OF THE INCOME - TAX ACT, 1961 HAS BEEN PREFERRED BY THE REVENUE PRAYING FOR THE RECALLING OF THE ORDER OF THE TRIBUNAL DATED 26.07.2018 PASSED IN ITA NO. 380/COCH/2017 FOR ASSESSMENT YEAR 2010 - 2011. 2. AT THE VERY OUTSET, I T IS OBSERVED THAT THE TAX EFFECT IN THE APPEAL FILED BY THE REVENUE, AGAINST WHICH THE PRESENT MISCELLANEOUS APPLICATION HAS BEEN FILED BY THE REVENUE, IS LESS THAN RS.50 LAKH , AND THEREFORE , THE CIRCULAR NO. 17 /201 9 DATED 8 TH AUGUST, 2019, ISSUED BY THE CENTRAL BOARD OF DIRECT TAXES (CBDT) IN EXERCISE OF ITS POWER VESTED UNDER SEC. 268A OF THE I.T. ACT COMES INTO PLAY, WHEREIN, THE MONETARY LIMIT FOR FILING THE APPEAL ( S ) BY THE REVENUE BEFORE THE ITAT AND VARIOUS HIGH COURTS AS WELL AS APEX COURT ARE REVISED WITH AN OBJECT M A NO. 74 / COCH /201 8 . M/S. V.GUARD INDUSTRIES LIMITED. 2 OF REDUCING THE TAX LITIGATION. VIDE PARA 2 OF THE SAID CIRCULAR (SUPRA) , IT IS STATED THAT IN CASES WHERE THE TAX EFFECT IN THE APPEAL TO BE FILED BEFORE THE APPELLATE TRIBUNAL DOES NOT EXCEED RS. 5 0 LAKH , APPEAL SHOULD NOT BE FILED. THUS , TAKING A NOTE OF CBDT CIRCULAR NO. 17 /201 9 DATED 8 TH AUGUST, 2019 AND CONSIDERING THE FACT THAT THE TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN R S.50 LAKH , THE SAME DESERVE S TO BE DISMISSED , AS NOT MAINTAINABLE. HOWEVER, WE MAKE IT CLEAR THAT THE ISSUE ( S ) RAISED IN THE IMPUGNED APPEAL IS LEFT OPEN TO BE EXAMINED IN THE APPROPRIATE PROCEEDINGS, IF ARISES, IN FUTURE. AT THE SAME TIME , WE ALSO M AKE IT CLEAR THAT IF THE APPEAL FALL IN ANY OF THE EXCEPTIONS REFERRED TO IN THE ABOVE SAID CBDT CIRCULAR, THE REVENUE IS AT LIBERTY TO MOVE AN APPLICATION FOR RECALLING THE ORDER, IF SO, ADVISED. 3. ACCORDINGLY IN THE LIGHT OF CBDT CIRCULAR NO. 17 /201 9 DATED 08 TH AUGUST, 2019, THE APPEAL STAND S DISMISSED, AND CONSEQUENTLY, THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DISMISSED AS INFRUCTUOUS. 4. IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED ON THIS 04 TH DA Y OF SEPTEMBER, 2019 . SD/ - SD/ - ( CHANDRA POOJARI ) ( GEORGE GEORGE K. ) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN ; DATED : 04 TH SEPTEMBER, 2019. DEVDAS* M A NO. 74 / COCH /201 8 . M/S. V.GUARD INDUSTRIES LIMITED. 3 COPY OF THE ORDER FORWARDED TO : BY ORDER, AR - ITAT - COCHIN 1. THE APPLICANT. 2. THE RESPONDENT. 3. THE CIT(A) - KOCHI . 4. THE PR.CIT - I, KOCHI . 5. DR, ITAT, COCHIN 6 . GUARD FILE.