ACIT, Central circle-3, New Delhi V. Himanshu Singhal, New Delhi

MA 816/DEL/2019

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 3944 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 7 month(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-06-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 12-11-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 268A

Judgement Text

M.A. No. 816/Del/2019 1 IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH “SMC” NEW DELHI ] BEFORE SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER, S.M.C. Misc. App. No. 816/Del/2019 [ in आ.अ.स ं . I.T.A No. 7362/Del/2017 ] ( िनधाªरण वषª/Assessment Year: 2014-15 ) ACIT, Central Circle : 3, New Delhi. बनाम Vs. Shri Himanshu Singhal, R/o. F–100, 1 st Floor, Rajouri Garden, New Delhi – 110 027. PAN No. CNYPS3849G अपीलाथŎ/Applicant ÿÂयथê/Respondent िनधाªåरतीकìओरसे /Assessee by : N o n e; राजˢकीओरसे /Department by : Shri Sanjay Nargas, Sr. D.R.; स ु नवाईकìतारीख/ Date of hearing : 29/04/2022 उĤोषणाकìतारीख/Pronouncement on : 14/06/2022 आदेश / O R D E R PER C. N. PRASAD, J.M. : 1. Through this Misc. application the Revenue states that the Tribunal dismissed the appeal of the Revenue on the ground that the tax effect is less than Rs.50,00,000/- in view of Circular No. 3 of 2018 dated 11.07.2018 and Circular No. 17 of 2019 dated 8.08.2019. In the Misc. application it is the contention of the Revenue that cases involving bogus LTCG/STCG through penny stock from monetary limits specified in any circular issued under Section 268A of the Act vide Board’s letter in F. No. 279/Misc./ M.A. No. 816/Del/2019 2 M-93/2018/ITJ(pt.) dated 16.09.2019. Therefore, the Revenue contends that the appeal needs to be contested on merits. 2. In spite of issue of notices, none appeared on behalf of the assessee. 3. Heard the ld. DR perused the order of the Tribunal in ITA. No. 7362 (Del) of 2017 dated 2.09.2019. On careful perusal of the order of the Tribunal it is noticed that at the time of hearing of the appeal the ld. DR did not press the appeal in view of the Board’s Circulars referred to above. It is further noticed that the Tribunal observed that the case of the Department would not fall in the exceptions provided in the Board Circular and, therefore, appeal is not maintainable. The Tribunal while passing the order considered the Board’s Circulars and the circumstances under which the appeal is filed and held that the appeal did not fall under exceptions provided in the circulars. It is further observed that the appeal of the Revenue dismissed by the Tribunal is not on addition/disallowance of LTCG/STCG, but it relates to penalty levied under Section 271AAB of the Act. Therefore, there is no mistake apparent on record in the order of the Tribunal in dismissing the appeal of the Revenue as not maintainable. 4. In the result, the Miscellaneous application filed by the Revenue, is dismissed. Order pronounced in the open court on : 14/06/2022. Sd/- ( C. N. PRASAD ) JUDICIAL MEMBER Dated : 14/06/2022. *MEHTA* M.A. No. 816/Del/2019 3 Copy forwarded to : 1. Applicant; 2. Respondent; 3. CIT 4. CIT (Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, New Delhi. Date of dictation 13.06.2022 Date on which the typed draft is placed before the dictating member 13.06.2022 Date on which the typed draft is placed before the other member 14.06.2022 Date on which the approved draft comes to the Sr. PS/ PS 14.06.2022 Date on which the fair order is placed before the dictating member for pronouncement 14.06.2022 Date on which the fair order comes back to the Sr. PS/ PS 14.06.2022 Date on which the final order is uploaded on the website of ITAT 14.06.2022 Date on which the file goes to the Bench Clerk 14.06.2022 Date on which the file goes to the Head Clerk The date on which the file goes to the Assistant Registrar for signature on the order Date of dispatch of the order