ITO, W-4, PANCHKULA vs. SH. SURESH KUMAR SEENGAL, PANCHKULA

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ITA 575/CHANDI/2018Status: DisposedITAT Chandigarh04 September 2018AY 2009-102 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the Revenue's appeal. The dismissal was based on the grounds of low tax effect, as per CBDT Circular No. 3/2018.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order deleting an addition of Rs. 37,85,000/-. The CIT(A) had ruled on issues of deemed dividend and benefit of company surrender.

What were the issues?

Whether the CIT(A) was correct in deleting the addition related to deemed dividend and company surrender, and whether the appeal was maintainable due to low tax effect.

Which sections of the Income-tax Act were involved?

Section 2(22)(e)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DIVISION BENCHES ‘B’, CHANDIGARH

Before: MS. DIVA SINGH & MS. ANNAPURNA GUPTA

For Appellant: Smt. Geetinder Mann, JCIT
Hearing: 06.08.2018Pronounced: 04.09.2018

IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCHES ‘B’, CHANDIGARH

BEFORE MS. DIVA SINGH, JUDICIAL MEMBER AND MS. ANNAPURNA GUPTA,ACCOUNTANT MEMBER

ITA No. 575/CHD/2018 Assessment Year: 2009-10

The ITO, Vs Shri Suresh Kumar Seengal, Ward - 4, House No. 1153, Sector-7, Panchkula. Panchkula. PAN : ATXPS3071M

(Appellant) (Respondent)

Appellant by : Smt. Geetinder Mann, JCIT Respondent by : None Date of hearing : 06.08.2018 Date of Pronouncement : 04.09.2018

ORDER PER DIVA SINGH

The present appeal has been filed by the Revenue assailing the correctness of the order dated 27.02.2018 of CIT (A) Panchkula pertaining to the 2009-10 assessment year on the following grounds : 1. Whether on the facts and circumstances of the case and in law the Hon'ble CIT(A) is right in the issue of deemed dividend u/s 2(22)(e) was already considered by the earlier AO at the time of original assessment. 2. Whether on the facts and circumstances of the case and in law the Hon'ble CIT(A) is right in allowing the benefit of amount surrendered by the company during the survey operation can be given to the assessee. 2. No one was present on behalf of the assessee respondent, however considering the material available on record wherein the record shows that the challenge is posed to the deletion by the CIT(A) of the addition of Rs. 37,85,000/- made by the AO. The ld. Sr.DR Smt. Geetinder Mann was required to address the maintainability of the appeal in the context of CBDT Circular No. 3/2018 dated 11.07.2018. The ld. Sr.DR conceded that the tax involved is much less. Accordingly, in view of the above, the appeal of the Revenue is dismissed on the grounds of low tax effect in terms of the aforesaid circular of the CBDT by which the Tax Authorities are bound.

ITA 575/CHD/2018 A.Y.2009-10 Page 2 of 2

4.

In the result, appeal of the Revenue is dismissed. Said order was pronounced in the Open Court at the time of hearing itself. Order pronounced in the Open Court on 04.09.2018.

Sd/- Sd/- (ANNAPURNA GUPTA) ( DIVA SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER

‘Poonam’ Copy to: 1. The Appellant 2. The Respondent 3. The CIT 4. The CIT(A) 5. The DR

Asstt. Registrar ITAT,Chandigarh.

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