ITO, NEW DELHI vs. M/S. WHITELINE INTEGRATED SERVICES PVT. LTD., DELHI

PDF · subscribers
ITA 6362/DEL/2015Status: DisposedITAT Delhi29 March 2016AY 2005-062 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 dismissed the departmental appeal. This was based on a CBDT circular revising the monetary limit for filing appeals to Rs. 10 lakh, which was made applicable retrospectively.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order deleting additions of Rs. 15,00,000/- made by the AO as unexplained cash credits. The tax effect involved in the appeal was less than Rs. 10 lakh.

What were the issues?

Whether the departmental appeal is maintainable given the tax effect and the retrospective applicability of CBDT's revised monetary limits for filing appeals.

Which sections of the Income-tax Act were involved?

Section 68,Section 268A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH: ‘E’ NEW DELHI

Before: SMT DIVA SINGH & SH.O.P.KANT

Hearing: 10.03.2016Pronounced: 29.03.2016

Date of Hearing 10.03.2016 Date of Pronouncement 29.03.2016 ORDER

PER DIVA SINGH, JM

1.

The present appeal has been filed by the Revenue assailing the correctness of the order dated 01.04.2013 of CIT(A)-17, New Delhi pertaining to 2005-06 assessment year on the following grounds:

– 1. “On the facts and in the circumstances of the case and in law the order passed by Ld.CIT(A) is erroneous and the learned CIT(A):- (i) Has erred in deleting the additions of Rs.15,00,000/- made by AO u/s 68 of the I.T.Act as unexplained cash credits in the shape of share application money.

2. The appellant craves, leave or reserving the right to amend, modify, alter, or forego any ground(s) of appeal at any time before or during the hearing his appeal.”

2.

No one was present at the time of hearing on behalf of the assessee. Considering the amount at stake for the Revenue, the Ld. Sr. DR was required to address Circular No.21/2015 dated 10th December, 2015 of CBDT. Considering the same in the facts on record, the Ld. Sr. DR fairly conceded that the departmental appeal has been filed wherein the tax effect involved is much less than Rs.10 lakh.

I.T.A .No.-6362/Del/2015

3.

We have heard the submissions of the Ld. Sr. DR on this issue and perused the material on record. We find that the CBDT vide the aforesaid Circular dated 10.12.2015 has revised the monetary limit to Rs.10 lakh for filing the appeal by the department before Income Tax Appellate Tribunal. Para 3 of the aforesaid Circular has been made applicable vide para 10 retrospectively. Considering the settled legal precedent that the Board’s instructions or directions issued to the Income Tax Authorities u/s 268A of the Income Tax Act, 1961 are binding on the authorities, we dismiss the departmental appeal considering the material available on record.

4.

In the result, the appeal of the Revenue is dismissed. The order is pronounced in the open court on 29th March, 2016.

More judgments on Section 68

All 29,931 judgments and leading authorities on Section 68 →

Recent GST High Court judgments

Search GST case law →