THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2 (1), PANAJI vs. M/S RAJARAM BANDEKAR (SHRIGAO)) MINES (P) LTD., VASCO

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ITA 179/PAN/2019Status: DisposedITAT Panaji26 July 2023AY 2009-10Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI G.D. PADMAHSHALI (Accountant Member)2 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 Revenue's appeal because the tax effect was below the threshold stipulated by the CBDT circular. The circular was made applicable retrospectively to all pending appeals.

What were the facts?

The Revenue filed an appeal before the ITAT for assessment year 2009-2010. The appeal involved a tax effect of Rs. 23,55,962/-. This amount was lower than the minimum tax effect prescribed by CBDT circular no. 17/2019.

What were the issues?

Whether the Revenue's appeal should be dismissed on the grounds of low tax effect as per CBDT circulars, even if the appeal was otherwise maintainable.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PANAJI BENCH : PANAJI

Before: SHRI SATBEER SINGH GODARA & SHRI G.D. PADMAHSHALI

Hearing: 13.07.2023Pronounced: 26.07.2023

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH : PANAJI (THROUGH VIRTUAL HEARING) BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI G.D. PADMAHSHALI, ACCOUNTANT MEMBER ITA.No.179/PAN./2019 Assessment Year 2009-2010 Rajaram Bandekar The Asst. CIT, Circle-2(1) (Shrigao) Mines Pvt Ltd., Aayakar Bhawan, 601, 6th Floor, Dr. Ozler EDC Complex, Patto, vs. Forum, St. Andrew Panaji. Goa. Church, Vasco Da Gama, PIN – 403 001 Goa – 403 802 PAN AAACR9460L (Appellant) (Respondent) For Revenue : Shri N. Shrikanth For Assessee : Shri P.K. Bansal Date of Hearing : 13.07.2023 Date of Pronouncement : 26.07.2023 ORDER PER SATBEER SINGH GODARA, J.M. :

This Revenue’s appeal for assessment year 2009- 2010, arise against the CIT(A) Panaji-1, Panaji's order dated 26.02.2019, in case no.CIT(A), PNJ-1/10275/2012-13, in proceedings u/sec.143(3) of the Income Tax Act, 1961 (in short "the Act").

Heard both the parties. Case file perused.

Both the learned representatives fairly stated during the course of hearing that the Revenue’s instant appeal ITA.No.179/PAN./2019 involves tax effect of Rs.23,55,962/-;

2 ITA.No.179/PAN./2019 as per column no.10 in Form No.36 before us and therefore, the same is lower than the prescribed minimum tax effect of Rs.50 lakhs as per the CBDT’s circular no.17/2019 dated 08.08.2019 made applicable to all pending appeals; with retrospective effect. Faced with the situation, we dismiss the Revenue’s instant appeal in very terms. Ordered accordingly.

This Revenue’s appeal is dismissed in above terms.

Order pronounced in the open court on 26.07.2023.

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