WWW.TAXSCAN.IN - Simplifying Tax Laws

1

IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH ‘D’ KOLKATA [Before Hon’ble Shri N.V.Vasudevan, JM & Dr.Arjun Lal Saini, AM ] ITA No.658/Kol/2016 Assessment Year : 2007-08 J.C.I.T., (OSD)Circle-8(1), Kolkata

-versus-

(Appellant)

M/s. Celica Developers Pvt. Ltd. Kolkata (PAN:AABCC 3820 C) (Respondent)

For the Appellant: Shri Soumyajit Dasgupta, Addl. CIT For the Respondent: Shri Ravi Tulsiyan, FCA Date of Hearing : 21.11.2017. Date of Pronouncement : 21.11.2017. ORDER PER N.V.VASUDEVAN, JM: This is an appeal by the Revenue against the order dated 25.01..2016 of CIT(A)-15, Kolkata relating to A.Y.2007-08. 2.

Recently the CBDT has issued Circular No. 21/2015, dated 10th December,

2015, whereby the monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal and High Courts and SLP before Supreme Court have been increased as measure for reducing Litigation. The revised monetary limits laid down in para-3 of this Circular and the manner of computing tax effect as laid down in para-4 of this Circular are as follows: “3. Henceforth, Appeals/ SLPs shall not be filed in cases where the tax effect does not exceed the monetary limits given hereunder: Sl. No. 1. 2. 3.

Appeals in Income-tax matters Before Appellate Tribunal Before High Court Before Supreme Court

Monetary Limit (in Rs) 10,00,000/20,00,000/25,00,000/-

ITA No.658/Kol/2016 M/s Celica Developers Pvt. Ltd. . A.Y.2007-08

WWW.TAXSCAN.IN - Simplifying Tax Laws

2

It is clarified that an appeal should not be filed merely because the tax effect in a case exceeds the monetary limits prescribed above. Filing of appeal in such cases is to be decided on merits of the case. 4. For this purpose, "tax effect" means the difference between the tax on the total income assessed and the tax that would have been chargeable had such total income been reduced by the amount of income in respect of the issues against which appeal is intended to be filed (hereinafter referred to as "disputed issues"). However the tax will not include any interest thereon, except where chargeability of interest itself is in dispute. In case the chargeability of interest is the issue under dispute, the amount of interest shall be the tax effect. In cases where returned loss is reduced or assessed as income, the tax effect would include notional tax on disputed additions. In case of penalty orders, the tax effect will mean quantum of penalty deleted or reduced in the order to be appealed against.”

3.

In para-10 of the said circular it has further been clarified that the revised

monetary limits will apply retrospectively. The relevant para-10 of the Circular reads thus: “10. This instruction will apply retrospectively to pending appeals and appeals to be filed henceforth in High Courts/ Tribunals. Pending appeals below the specified tax limits in para 3 above may be withdrawn/ not pressed. Appeals before the Supreme Court will be governed by the instructions on this subject, operative at the time when such appeal was filed.”

4.

In the present case, the tax effect in this appeal is less than Rs.10,00,000/-as

calculated as follows : Particulars Amount (Rs.) Additions u/s 14A by the 32,91,700 Ld. AO Ld CIT deleted 31,93,788 Upheld 97,912 Departmental Appeal 31,93,788 Tax on Rs.3193788/- 9,58,136 @30% Ec & SHEC @ 3% 28,744 Total Tax 9,86,880 Rs.9,86,880 is below Rs.10,00,000/ITA No.658/Kol/2016 M/s Celica Developers Pvt. Ltd. . A.Y.2007-08

WWW.TAXSCAN.IN - Simplifying Tax Laws

3

Though this appeal had been filed by the revenue on 12.04.2016 and was within the monetary limit in the form of tax effect for filing appeals before Tribunal, in view of para-10 of the Circular of CBDT, even such appeals will be governed by the new monetary limits laid down in the CBDT Circular No.21/2015 referred to above. 5.

It is a settled law that the Circulars issued by CBDT are binding on the

Revenue. This position was confirmed by the Apex Court

in the case of

Commissioner of Customs vs Indian Oil Corporation Ltd. reported in 267 ITR 272 wherein their Lordships examined the earlier decisions of the Apex Court with regard to binding nature of the Circular and laid down that when a circular issued by the Board remains in operation then the Revenue is bound by it and cannot be allowed to plead that it is not valid or that it is contrary to the terms of the statute. The appeal under consideration has certainly been filed contrary to the Circular issued by the CBDT Circular No.21 dated 10.12.2015.

5.1.

In the event the Revenue finds at a later point of time that the tax effect in the

appeal is more than Rs.10 lakhs or despite low tax effect the appeal of the revenue is maintainable, the revenue is at liberty to move this Tribunal for recall of this order. 6.

In view of the above, We hold that the appeal filed by the Department, against

the impugned order of the Ld. CIT(A), is contrary to the policy decision of the Department and as such the appeal filed by the Department is dismissed in limine.

7.

In the result, the appeal by the Revenue is dismissed. Order pronounced in the open Court on 21.11.2017. Sd/[Dr.A.L.Saini] Accountant Member

Dated

Sd/[ N.V.Vasudevan ] Judicial Member

: 21.11.2017.

[RG Sr.PS] ITA No.658/Kol/2016 M/s Celica Developers Pvt. Ltd. . A.Y.2007-08

WWW.TAXSCAN.IN - Simplifying Tax Laws

4

Copy of the order forwarded to: 1.M/s. Celica Developers Pvt. Ltd., Park Centre Building, 24, Park Street, Kolkata700016. 2.J.C.I.T.(OSD), Circle-8(1), Kolkata.. 3. CIT(A)-15, Kolkata. 4. CIT-3, Kolkata. 5. CIT(DR), Kolkata Benches, Kolkata. True Copy By order, Senior Private Secretary Head of Office/D.D.O., ITAT, Kolkata Benches

ITA No.658/Kol/2016 M/s Celica Developers Pvt. Ltd. . A.Y.2007-08

Ms.Celica Developers P.Ltd.pdf

Henceforth, Appeals/ SLPs shall not be filed in cases where the tax effect does. not exceed the ... Appeals in Income-tax matters Monetary Limit (in Rs). 1. Before ...

58KB Sizes 3 Downloads 167 Views

Recommend Documents

Contract Advisory Systems Developers and Systems Developers ...
Conducts and/or participates in Operability and System Integration testing of ... Contract Advisory Systems Developers and Systems Developers 2015.pdf.

M101P: MongoDB for Developers
Authenticity of this certificate can be verified at http://education.mongodb.com/downloads/certificates/15f46bbaa2244e01a2ac228e5fe9557b/Certificate.pdf.

Singapore Developers
2013E. 2014E. 2015E. Home prices. - Luxury. 2,000. 2,250. 2,800. 2,780. 2,800. 2,800. 2,604. 2,344. - Prime. 1,300. 1,300. 1,600. 1,670. 1,700. 1,700. 1,581. 1,423 ...... SSL Dev. The Stratum. Mass. 900. 827. 9. 57. Apr-12. Nov-12. Kheng Long. Topiar

Google Pay Brand Guidelines for Developers Developers
May 2, 2018 - instructions for using the Google Pay buttons, logo, mark, and text .... Use the Google Pay mark with other brand identities in “credit card” format.

Untitled Developers
Introduction to open source software development. ○ Students have the opportunity to work with real open source organizations. ○ Students earn prizes for ...

2X 7000 Developers
PARKING A BREEZE WITH ANDROID PAY. THE CHALLENGE. Barrier to entry. Parking in any city is tough. Searching for coins is less than ideal. PayByPhone,.

GCC Developers' Summit
GCC requires that both builds use the same inline decisions and similar optimization flags to ensure that the control-flow graph (CFG) that is instrumented in the.

Video Release Developers
permission to copy, host, index, display, route, reformat, distribute, store, ... my child, or my charge; and that, to the best of my knowledge, material included.

Organizer guide Developers
Staying out late to watch the biggest tech conference live stream makes for hungry ... Page 10 .... Post to social networking sites with a clear call to action.

GCC Developers' Summit
Most modern microprocessors support hardware event sampling, which works .... Vertex Transformation. Construct Gt = (Vt,Et) from the initial CFG G = (V,E) by.

Ephemeral Identifiers Developers
Apr 14, 2016 - To accommodate larger numbers of beacons (e.g. 10 billion, to be on the ..... com/nearby/messages/android/get-beacon-messages (visited on ...

swag Developers
email: brittany(0massivemarketing.com fax: 1-714-668-1988 upon ordering. YOU Will receive an ... Please direct questions or special requests to. Brittany Minna ...

What is GSoC? Developers
Goals of the program. ○ Help organizations continue to identify and bring in new developers each year. ○ Expose students to real world software development.

The Outsourcing Playbook Developers
It's not always possible to develop an Android app in ... 10 The Outsourcing Playbook. 01 ..... 05 Ensure your agency is up to date with the latest on Android.

GSoC 2017 Flyer Developers
Inspire developers to begin participating in open source development. ○ Provide students in Computer Science and related fields the opportunity to do work ...

developers android tools
Strategy analytics android 39 s developer tools lag behind apple and. Productivity tips for ... gsm.developers free download here rom. Top 5 magento android ...

crafting physically-basedmaterials Developers
PHYSICALLY-BASEDMATERIALS. ANISOTROPY/GRAYSCALE. Defines whether the material appearance is directionally dependent, that is isotropic (0.0).

Queue & Autoplay UX Developers
next/prev if queue (if available). ○ play/pause or play/stop. ○ timeline scrubber (if possible). ○ volume icon (iOS only). ○ a link to the content entity page or info.

Carnival Cruise Line provides personalized ... Developers
Introduction. Carnival Cruise Line, one of the world's largest leisure-travel companies, ... web users on Android and for desktop users on Chrome. The new ... the same as those from native apps, and arrive even when the browser isn't running.