DCIT, CC-2(1), KOLKATA, Kolkata V. M/s Ambica Capital Markets pvt. Ltd., Howrah

MA 91/KOL/2015

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4070 (ITAT-KOLKATA)
• Duration Of Justice: 5 month(s) 24 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-03-2016
• Appeal Filed By: Department
• Bench Allotted: SMC
• Assessment Year: 2005-2006
• Appeal Filed On: 10-09-2015
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

MA NO. 91/KOL/2015-AM M/S. AMBICA CAPITAL MARKETS PVT .LTD 1 IN THE INCOME TAX APPELLATE TRIBUNAL : BENCH SMC : KOLKATA BEFORE SHRI N.V VASUDEVAN, JUDICIAL MEMBER, AND SHRI M.BALAGANESH, ACCOUNTANT MEMBER MISC. APPLICATION NO. 91/KOL/2015 [ ARISING OUT OF ITA NO. 1724/KOL/2014 A.Y 2005-06 ] A.C.I.T, CENTRAL CIRCLE-2(1), KOLKATA VS. M/S. AMBICA CAPITAL MARKETS PVT. LTD PAN: AAEC A 3328G [ APPLICANT ] [RESPONDENT] FOR THE APPLICANT : MD. GHAYAS UDDIN, JCIT/ LD. SR.DR FOR THE RESPONDENT/ASSESSEE : SHRI SOUMITRA CHOWDHURY, ADVOCATE, LD.AR DATE OF HEARING : 04-03-2016 DATE OF PRONOUNCEMENT: 04-03-2016 O R D E R SHRI M.BALAGANESH, AM : BY VIRTUE OF THIS MISCELLANEOUS APPLICATION THE REVENUE HAS SOUGHT TO FILE THE FRESH GROUNDS OF APPEAL BEFORE US AS THE ORIGINAL A PPEAL HAS BEEN DISMISSED BY THIS TRIBUNAL AS DEFECTIVE WITH THE LIBERTY TO THE REV ENUE TO FILE FRESH GROUND OF APPEAL. 2. WE HAVE HEARD THE RIVAL SUBMISSIONS. WE FIND F ROM THE GROUNDS OF APPEAL AS RAISED BY THE REVENUE THAT THE TOTAL DISPUTED ADDIT ION IS RS.25,05,873/- AND TAX EFFECT THEREON WORKS OUT TO RS.8,51,746/-. WHEN IT WAS POI NTED OUT TO THE LD.DR, HE COULD NOT STATE THAT THE PRESENT CASE FALLS UNDER ANY EXCEPTI ONS CONTEMPLATED IN THE LATEST CBDT CIRCULAR NO. 21/2015 DATED 10-12-2015. WE HOLD THA T IN ANY CASE RECALLING OF THE IMPUGNED ORDER OF THE TRIBUNAL WOULD NOT ADVANCE T HE CASE OF THE REVENUE AS THE APPEAL HAS TO BE DISMISSED BEING NOT MAINTAINABLE I N VIEW OF THE SAID CBDT CIRCULAR (SUPRA). MA NO. 91/KOL/2015-AM M/S. AMBICA CAPITAL MARKETS PVT .LTD 2 3. IN VIEW OF THE ABOVE AND LATEST CBDT CIRCULAR NO . 21/2015 DATED 10-12-2015 FIXING THE MONETARY LIMITS FOR FILING THE APPEAL(S ) BY THE REVENUE BEFORE THE TRIBUNAL, THE SAME IS ALSO APPLICABLE FOR PENDING OF APPEAL(S ) BEFORE THE TRIBUNAL. WE FEEL THAT THIS CASE SQUARELY FALLS WITHIN THE AMBIT OF PRESE NT CBDT CIRCULAR (SUPRA). WE ARE OF THE OPINION THAT RECALLING THE EARLIER ORDER DATE D 04-06-2015 BY ALLOWING THIS MISC. APPLICATION U/S. 254(2) OF THE ACT WOULD NOT ADVANC E THE CASE OF THE REVENUE, WHICH IN ANY CASE IS LIABLE TO BE DISMISSED IN VIEW OF APPLI CABILITY OF SAID CBDTS LATEST CIRCULAR (SUPRA). 4. IN THE RESULT, THE MISC. APPLICATION FILED BY THE REVENUE STANDS DISMISSED. THIS ORDER IS PRONOUNCED IN THE OPEN COURT ON 04-03-2016 SD/- SD/- [ N.V.VASUDEVAN ] [ M.BALAGANE SH ] JUDICIAL MEMBER ACCOUNTANT MEMB ER DATED 04 -03-2016 **PRADIP SPS COPY OF THE ORDER FORWARDED TO : 1. APPLICANT: THE ACIT, CC-VI, KOLKATA. 2. RESPONDENT: M/S. AMBICA CAPITAL MARKET PVT. LTD 73 HIREN MUKHERJEE ROAD, BELUR, HOWRAH- 711202. 3. CIT(A) KOL. 4. THE CIT KOL. 5. DR,ITAT, KOL TRUE COPY TRUE COPY BY ORDER ASSISTANT REGISTRAR, ITAT,KOL