Income Tax Appellate Tribunal - Kolkata
Ito, Wd-32(3), Kolkata, Kolkata vs M/S Modern International, Kolkata on 12 September, 2017
I . T. A . N o. 1 2 4 2 / KO L . / 2 0 1 5
Assessment year: 2010-2011
Page 1 of 2
IN THE INCOME TAX APPELLATE TRIBUNAL,
KOLKATA 'D' BENCH, KOLKATA
Before Shri P.M. Jagtap, Accountant Member and
Shri S.S.Viswanethra Ravi, Judicial Member
I.T .A. No. 1242/KOL/ 2015
Assessment Year: 2010-2011
Income Tax Officer,...................................................................Appellant
Ward-32(3 ), Kolkata,
10B, Middleton Row, 2 n d floor,
Kolkata-700 071
-Vs.-
M/s. Mo dern International,.....................................................Respondent
Azimganj House,
7, Camac Street,
Kolkata-700 017
[PAN: AAKFM 1904 D]
Appearances by:
Shri Kalyan Nath Das, Addl. C IT, D.R., fo r th e Depart ment
Shri Anil Kochar, FCA, for the assessee
Date of concluding th e hearing : September 12, 2017
Date of pronouncing the order : September 12, 2017
O R D E R
Per Shri P.M. Jagtap, A.M..:
This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-9, Kolkata dated 29.07.2015, whereby he allowed the claim of the assessee for deduction under section 10A of the Income Tax Act, 1961 in respect of interest income.
2. We have heard the arguments of both the sides and also perused the relevant material available on record. As pointed out by the ld. counsel for the assessee at the time of hearing fixed today, the tax effect involved in this appeal of the Revenue is less than the monetary limit fixed by the CBDT vide Circular No. 21/2015 dated 10 t h 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 this appeal is not disputed even by the ld. D.R. In Circular No. 21/2015 I . T. A . N o. 1 2 4 2 / KO L . / 2 0 1 5 Assessment year: 2010-2011 Page 2 of 2 (supra) issued by the CBDT, the monetary limit for filing the appeals 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 The CBDT has also instructed that such pending appeals below this specified tax limit of Rs.10,00,000/- may be withdrawn/ not pressed.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 case, the appeal filed by the Revenue in this case is treated as withdrawn/not pressed and dismissed accordingly.
3. In the result, the appeal of the Revenue is dismissed.
Order pronounced in the open Court on September 12, 2017.
Sd/- Sd/-
(S.S. Viswanethra Ravi) (P.M. Jagtap)
Judicial Member Accountant Member
Kolkata, the 12 t h day of September, 2017 Copies to : (1) Income Tax Officer, Ward-32(3 ), Kolkata, 10B, Middleton Row, 2 n d floor, Kolkata-700 071 (2) M/s. Mo dern International, Azimganj House, 7, Camac Street, Kolkata-700 017 (3) Commissioner of Income Tax (Appeals)-9, Kolkata; (4) Commissioner of Income Tax ,Kolkata (5) The Depart ment al Represent ative (6) Guard File By order Senior Private Secretary, Head of Office/DDO Income Tax Appellate Tribunal, Kolkata Benches, Kolkata Laha/Sr. P.S.