DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 3(1), KOLKATA vs. CHIRAG JEWELLERS, KOLKATA
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Income Tax Appellate Tribunal, KOLKATA ‘A’ BENCH, KOLKATA
Before: SRI SANJAY GARG & SRI SANJAY AWASTHI
आयकर अपीलीय अधिकरण कोलकाता 'ए' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA श्री संजय गगग, न्याधयक सदस्य एवं श्री संजय अवस्थी, लेखा सदस्य के समक्ष Before SRI SANJAY GARG, JUDICIAL MEMBER & SRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.(S.S.)A. No.: 92/KOL/2024 Assessment Year: 2015-16 & I.T.A. No.: 1636/KOL/2024 Assessment Year: 2016-17 DCIT, Central Circle-3(1), Kolkata…...……………………………….Appellant Vs. Chirag Jewellers……………………...........................................Respondent [PAN: AABFC 7914 L] Appearances: Department represented by: Subhendu Datta, CIT DR. Assessee represented by: Miraj D. Shah, AR. Date of concluding the hearing : September 30th, 2024 Date of pronouncing the order : September 30th, 2024 ORDER Per Sanjay Garg, Judicial Member: The present appeals filed by the Revenue are directed against separate orders dated 16.05.2024 & 17.05.2024 respectively of the Commissioner of Income Tax (Appeals)- 21, Kolkata [hereinafter referred to as ld. 'CIT(A)']. 2. It is seen, at the outset, that the tax effect on the disputed additions before us is less than Rs. 60 lakh as prescribed in the CBDT’s latest Circular
II.T.(S.S.)A. No.: 92/KOL/2024 Assessment Year: 2015-16 I.T.A. No.: 1636/KOL/2024 Assessment Year: 2016-17 Chirag Jewellers. No. 09/2024 dated 17.09.2024 for filing appeals by the Revenue before this Tribunal. 2.1. This circular prescribes that the revised monetary limits shall apply retrospectively to pending appeals as well. 3. The ld. DR has also fairly stated that tax effect involved in appeal is less than the prescribed limit. 4. In view of above stated position, the appeals of the Revenue are dismissed u/s 268A of the Act because of low tax effect than the prescribed limits as per CBDT Circular No. 09/2024 (supra). Order pronounced in the open Court on 30th September, 2024. Sd/- Sd/- [Sanjay Awasthi] [Sanjay Garg] Accountant Member Judicial Member Dated: 30.09.2024 Bidhan (P.S.) Copy of the order forwarded to: 1. DCIT, Central Circle-3(1), Kolkata. 2. Chirag Jewellers, Office No.2A, 2nd Floor, Aspirations Vintage, 12, Pretoria Street, Kolkata, West Bengal, 700071. 3. CIT(A)-21, Kolkata. 4. CIT- 5. CIT(DR), Kolkata Benches, Kolkata. //True copy // By order
Assistant Registrar ITAT, Kolkata Benches Kolkata
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