Income Tax Appellate Tribunal - Delhi
M/S. Sanjeev Khurana (Huf), New Delhi vs Dcit, New Delhi on 4 January, 2016
IN THE INCOME TAX APPELLATE TRIBUNAL
(DELHI BENCH 'G' : NEW DELHI)
BEFORE SHRI N.K. SAINI, ACCOUNTANT MEMBER
and
SHRI A.T. VARKEY, JUDICIAL MEMBER
ITA No.3312/Del./2014
(ASSESSMENT YEAR : 2004-05)
DCIT, Central Circle 21, vs. M/s. Sanjeev Khurana (HUF),
New Delhi. Prop. M/s. Khurana Textiles Co.,
A - 1/230, Hastsal Road,
Uttam Nagar, New Delhi.
(PAN : AAJHS1934A)
CO No.26/Del/2015
(in ITA No.3312/Del./2014)
(ASSESSMENT YEAR : 2004-05)
M/s. Sanjeev Khurana (HUF), vs. DCIT, Central Circle 21,
Prop. M/s. Khurana Textiles Co., New Delhi.
A - 1/230, Hastsal Road,
Uttam Nagar, New Delhi.
(PAN : AAJHS1934A)
(APPELLANT) (RESPONDENT)
ASSESSEE BY : None
REVENUE BY : Smt. Anima Barnwal, Senior DR
ORDER
PER A.T. VARKEY, JUDICIAL MEMBER :
The appeal by the revenue and the cross objection by the assessee are filed against the order of the CIT (Appeals)-II, New Delhi dated 14.03.2014 for the assessment year 2004-05.
2 ITA No.3312/Del./2014
2. The tax effect in the appeal by the Revenue does not exceed the monetary limit of Rs.10 lakhs specified in Circular No.21/2015 dated 10th December,2015, F.No.279/Misc./142/2007-ITJ(Pt.).
3. We are of the opinion that the Circular of the CBDT results in the revenue appeal being not maintainable. Further this CBDT Circular, at para 10 specifies that the Instruction will apply retrospectively, to all pending appeals. We have examined the grounds of appeals and have found that the tax effect on the quantum of income in dispute is below the monetary limit of Rs.10,00,000/- (Rupees Ten lakhs only).
4. Hence we dismiss the appeal filed by the Revenue on the ground that the tax effect in the present appeal does not exceed the monetary limit specified by the CBDT Circular No.21/2015 dated 10th December,2015, F.No. 279/Misc./142/2007-ITJ(Pt.) and hence not maintainable. Accordingly, the cross objection filed by the assessee has become infructuous and hence, dismissed.
6. In case there is a mistake in the calculation or if the case is covered by any of the exception specified in the Circular, the revenue may file Misc. Application u/s 254(2) of the Income Tax Act 1961 pointing out the mistake and if the Bench is convinced of the mistake, the order will be recalled and the appeal will be restored for fresh disposal on merits.
7. In the result, the Revenue's appeal and the cross objection by the assessee are dismissed.
Order pronounced in open court on this 4th day of January, 2016 after the conclusion of the hearing.
SD/- SD/-
(N.K. SAINI) (A.T. VARKEY)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Dated the 4th day of January, 2016/TS
3 ITA No.3312/Del./2014
Copy forwarded to:
1.Appellant
2.Respondent
3.CIT
4.CIT(A)-II, New Delhi.
5.CIT(ITAT), New Delhi.
AR, ITAT
NEW DELHI.