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Income Tax Appellate Tribunal, CUTTACK BENCH, CUTTACK
Before: S/SHRI N.S SAINI & PAVAN KUMAR GADALE
Per N.S.Saini, AM
This is an appeal filed by the Revenue against the order of the ld
CIT(A)-1, Bhubaneswar, dated 24.2.2015, for the assessment year 2007-
08.
When the case was called for hearing, none appeared on behalf of
the respondent-assessee despite issue of notice of hearing dated 8.6.2017.
Hence, we proceed to dispose of the appeal of the revenue after hearing ld
D.R. and on the basis of materials available on record.
2 ITA No. 224 /CT K/ 2015 Asse ssment Year :20 07- 08
Brief facts of the case are that the assessee is engaged in the
business of software development. It filed the return of income on
8.11.2007 declaring total income of Rs.7,50,320/-. The case was selected
for scrutiny and assessment was completed u/s.143(3) of the Act on
31.12.2009 determining the total income at Rs.53,19,430/-.
Being aggrieved by the order of the Assessing Officer, the assessee
has preferred appeal before the CIT(A), who allowed partial relief of
Rs.22,87,734/- out of total disallowance of Rs.40 lakhs on account of share
capital.
Aggrieved by the partial relief of Rs.22,87,734/- on account of
disallowance of share capital, the revenue is in appeal before us.
After hearing ld D.R. and perusing the order of the CIT(A), we find
that the CIT(A) has allowed relief of Rs.22,87,734/- out of addition of Rs.40
lakhs on account of share capital and sustained the disallowance of
Rs.21,14,870/-, the tax effect of which comes to Rs.6,34,460/-. Before us,
ld D.R. admitted that that the tax effect in the appeal of the revenue is
Rs.6,34,460/- and hence, in view of the CBDT circular No. No.21/2015
dated 10.12.2015 revising the monetary limit for filing appeal to the
Tribunal to Rs.10 lakhs, the appeal filed by the revenue is not maintainable
and liable to be dismissed in limine. Therefore, we dismiss the appeal of
the revenue in limine.
3 ITA No. 224 /CT K/ 2015 Asse ssment Year :20 07- 08
In the result, appeal filed by the revenue is dismissed.
Order pronounced in the open court on 11 /07/2017 in the presence of parties. Sd/- sd/- (Pavan Kumar Gadale) (N.S Saini) JUDICIALMEMBER ACCOUNTANT MEMBER Cuttack; Dated 11 /07/2017 B.K.Parida, SPS Copy of the Order forwarded to : 1. The appellant: ACIT, Circle 1(2), Bhubaneswar 2. The Respondent; Tatwa Technologies Pvt Ltd., Plot No.6, 2nd floor, Unit-III, Kharvel Nagar, Bhubaneswar 3. The CIT(A)-I, Bhubaneswar 4. The Pr. CIT-1, Bhubaneswar 5. DR, ITAT, Cuttack BY ORDER, 6. Guard file. //True Copy// SR.PRIVATE SECRETARY ITAT, Cuttack