ITO, WARD-32(2), KOLKATA, KOLKATA vs. M/S. NATIONAL COAL DEVELOPMENT CORPORATION STAFF CO-OPERATIVE CREDIT SOCIETY LTD., KOLKATA

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ITA 1532/KOL/2014Status: DisposedITAT Kolkata16 March 2017AY 2008-20093 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the tax effect in the appeals was less than the revised monetary limit of Rs. 10,00,000/- for filing appeals by the Revenue. Following CBDT Circular No. 21/2015, the appeals were treated as withdrawn and dismissed.

What were the facts?

The Revenue filed two appeals before the ITAT against orders of the CIT(A) concerning assessment years 2008-09 and 2010-11. The tax effect in these appeals was below the revised monetary limit set by CBDT Circular No. 21/2015.

What were the issues?

Whether the Revenue's appeals should be dismissed as the tax effect was below the revised monetary limit prescribed by CBDT for filing appeals before the Tribunal.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘A’ BENCH, KOLKATA

Before: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

Heard together (2 matters)

I.T.A. No. 1532/KOL/ 2014
I.T.A. No. 1533/KOL/ 2014

Read from the judgment's own cause title. This page is filed under one of them.

Per Shri P.M. Jagtap, A.M.: Out of these two appeals filed by the Revenue, one appeal being is directed against the order of the ld. Commissioner of Income Tax (Appeals)-XIX, Kolkata dated 08.04.2014, whereby he cancelled the penalty of Rs.9,24,110/- imposed by the Assessing Officer under section 271(1)(c) of the Act for the assessment year 2008-09, while the other appeal filed by the Revenue being ITA No. 1533/KOL/2014 is ./2014 Assessment year: 2008-2009 & I.T.A. No. 1533/KOL./2014 Assessment year: 2010-2011 Page 2 of 3 directed against the order of the ld. Commissioner of Income Tax (Appeals)-XIX, Kolkata dated 07.04.2014, whereby he allowed a relief of Rs.11,68,729/- to the assessee for the assessment year 2010-11.

1.

2 As pointed out by the ld. counsel for the assessee at the outset, the tax effect involved in these appeals of the Revenue is less than the revised monetary limit fixed by the CBDT vide Circular No. 21/2015 dated 10th December, 2015 at Rs.10,00,000/- for filing the appeal by the Revenue before the Tribunal and this position clearly evident from the grounds raised by the Revenue in these appeals is not disputed even by the ld. D.R. In Circular No. 21/2015 (supra) issued by the CBDT, the monetary limit for filing the appeal by the Revenue before the Tribunal has been increased to Rs.10,00,000/- and as clarified in the said Circular, the said monetary limit is applicable retrospectively even to the appeals pending before the Tribunal. The CBDT has also instructed that such pending appeals below this specified tax limit of Rs.10,00,000/- may be withdrawn/ not pressed. Keeping in view the instruction given by the CBDT vide Circular No. 21/2015 dated 10.12.2015, which is squarely applicable in the present cases, the appeals filed by the Revenue in this case are treated as withdrawn/not pressed and dismissed accordingly.

3.

In the result, both the appeals of the Revenue are dismissed. Order pronounced in the open Court on March 16, 2017.

Sd/- Sd/- (S.S. Viswanethra Ravi) (P.M. Jagtap) Judicial Member Accountant Member Kolkata, the 16th day of March, 2017 Copies to : (1) Income Tax Officer, Ward-32(2), Kolkata, 10B, Middleton Row, 2nd Floor, Kolkata-700 071 ./2014 Assessment year: 2008-2009 & I.T.A. No. 1533/KOL./2014 Assessment year: 2010-2011 Page 3 of 3

(2) M/s. National Coal Development Corporation Staff Cooperative Credit Society Limited, 25, Brabourne Road, Thapar House, 5th Floor, Kolkata-700 001

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