ACIT, Sikar V. SIKAR KENDRIYA SAHKARI BANK LTD., Sikar

MA 83/JPR/2017

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5995 (ITAT-JAIPUR)
• Duration Of Justice: 6 month(s) 8 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 14-12-2017
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2007-2008
• Appeal Filed On: 05-06-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: ANIL KAUSHIK
• Keywords: Period of limitation; Assessment record; Tax effect; Time period of passing order

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH FOT; IKWY JKO] U;KF;D LNL; ,OA JH FOE FLAG ;KNO] YS[KK LNL; DS LE{K BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM VK;DJ VIHY LA-@ MA NO.83/JP/17 (ARISING OUT OF ITA NO. 171/JP/14) FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2007-08 ACIT, CIRCLE-SIKAR CUKE VS. M/S SIKAR KENDRIYA SAHKARI BANK LTD., BASANT VIHAR, SIKAR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO.: AAAAS1601G VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT JKTLO DH VKSJ LS @ REVENUE BY : SMT. NEENA JEPH (JCIT) FU/KZKFJRH DH VKSJ L S@ ASSESSEE BY : SHRI ANIL KAUSHIK (CA) LQUOKBZ DH RKJH[ K@ DATE OF HEARING : 08/12/2017 MN?KKS'K.KK DH RKJH[ K@ DATE OF PRONOUNCEMENT: 14/12/2017 VKNS'K@ ORDER PER: VIKRAM SINGH YADAV, A.M. THE REVENUE HAS MOVED THE PRESENT MISC. APPLICATION AGAINST THE ORDER PASSED BY THE COORDINATE BENCH IN ITA NO. 171 /JP/2014 DATED 17.12.2015 FOR A.Y. 2007-08. 2. IN ITS APPLICATION, THE REVENUE HAS SUBMITTED TH AT THE APPELLATE ORDER IN ITA NO. 171/JP/2014 DATED 17.12.2015 IN TH E CASE OF M/S SIKAR KENDRIYA SAHKARI BANK LTD., BASANT VIHAR, SIKAR FOR THE AY 2007-08 M.A. NO. 83/JP/2017 ACIT, SIKAR VS. M/S SIKAR KENDRIYA SAHKARI BANK LT D., SIKAR 2 (PAN-AAAA1601G) HAS BEEN RECEIVED BY THE PR. COMMIS SIONER OF INCOME-TAX-3, JAIPUR ON 16.01.2017. 3. IT WAS SUBMITTED BY THE REVENUE THAT THE ITAT, J AIPUR BENCH, JAIPUR FOLLOWING THE CIRCULAR NO. 21 OF 2015 DATED 10.12.2015 (F.NO. 279/MISC. 142/2007-ITJ(PT)) ISSUED BY THE CBDT, NEW DELHI HAS DISMISSED THE DEPARTMENT APPEAL TREATED AS NOT PRES SED/WITHDRAWN. THE ITAT, JAIPUR BENCH, JAIPUR OBSERVED THAT THE AP PEAL IS NOT COVERED BY ANY EXCEPTION MENTIONED IN THE CBDT CIRCULAR AND TAX DEMAND IN DISPUTE DOES NOT EXCEED THE LIMIT OF RS. 10 LAKH. F URTHER, THE CIRCULAR ISSUED BY THE CBDT, NEW DELHI IS ALSO APPLICABLE TO ALL PENDING APPEALS. HOWEVER, ON PERUSAL OF THE ASSESSMENT RECORDS OF TH E ASSESSEE FOR AY 2007-08, IT WAS NOTICED THAT THE TAX EFFECT IN THIS CASE IS RS. 1,28,63,320, WHICH IS MORE THAN THE PRESCRIBED LIMI T FOR FILING THE APPEAL BEFORE THE HONBLE ITAT, JAIPUR BENCH, JAIPU R. IN OTHER WORDS THE CIRCULAR MENTIONED ABOVE IS NOT APPLICABLE IN T HE PRESENT CASE. THEREFORE, IT WAS REQUESTED THAT THE EARLIER ORDER MAY BE RECALLED AND THE DEPARTMENTS APPEAL MAY BE HEARD AND DECIDED ON MERITS. 4. THE LD AR WAS HEARD WHO HAS RAISED THE ISSUE OF LIMITATION AND SUBMITTED THAT THE SUBJECT MISC. APPLICATION WAS BA RRED BY LIMITATION AS PROVIDED UNDER SECTION 254(2) OF THE ACT. 5. AFTER HEARING BOTH THE PARTIES AND ON PERUSAL O F MATERIAL ON RECORD, WE FIND THAT FIRSTLY, THE PRESENT MISC. APP LICATION IS NOT BARRED BY LIMITATION. THOUGH THE SUBJECT ORDER WAS PASSED BY THE COORDINATE BENCH ON 17.12.2015, THE SAME WAS FORWARDED BY THE REGISTRY TO THE M.A. NO. 83/JP/2017 ACIT, SIKAR VS. M/S SIKAR KENDRIYA SAHKARI BANK LT D., SIKAR 3 REVENUE ON 7.07.2016 AND THEREAFTER, WAS RECEIVED B Y THE PCIT ON 16.01.2017 AND THESE DATES ARE NOT IN DISPUTE. GIV EN THAT THE PRESENT MISC. APPLICATION HAS BEEN FILED ON 29.03.2017, THE SAME IS WELL WITHIN THE LIMITATION PERIOD PRESCRIBED UNDER SECTION 254( 2) OF THE ACT. FURTHER, WE FIND THE CONTENTION OF THE REVENUE TO B E CORRECT THAT THE TAX EFFECT IN THIS CASE IS WELL ABOVE THE PRESCRIBE D THRESHOLD AND THE APPEAL IS CLEARLY MAINTAINABLE. 6. WE ACCORDINGLY RECALL THE ORDER PASSED BY THE CO ORDINATE BENCH DATED 17.12.2015 TO THE EXTENT IT PERTAINS TO ITA N O. 171/JP/2014. THE REGISTRY IS DIRECTED TO FIX THE MATTER FOR HEARING ON 18.01.2018. THE PARTIES ARE AT LIBERTY TO FILE PAPERBOOK, IF ANY, O NE WEEK IN ADVANCE OF THE SCHEDULED DATE OF HEARING. THE MISCELLANEOUS APPLICATION IS ALLOWED WITH ABOVE DIRECTIONS. ORDER PRONOUNCED IN THE OPEN COURT ON 14/12/2017 SD/- SD/- FOT; IKWY JKO FOE FLAG ;KNO (VIJAY PAL RAO) (VIKRAM SINGH YADAV) U;KF;D LNL;@ JUDICIAL MEMBER YS[KK LNL;@ ACCOUNTANT MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 14/12/2017 GANESH KR. VKNS'K DH IZFRFYFI VXZSFKR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- ACIT, SIKAR 2. IZR;FKHZ@ THE RESPONDENT- M/S SIKAR KENDRIYA SAHKARI BANK LTD ., SIKAR M.A. NO. 83/JP/2017 ACIT, SIKAR VS. M/S SIKAR KENDRIYA SAHKARI BANK LT D., SIKAR 4 3. VK;DJ VK;QDR@ CIT 4. VK;DJ VK;QDR@ CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR. 6. XKMZ QKBZY@ GUARD FILE {M.A. NO. 83/JP/2017} VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASST. REGISTRAR