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Income Tax Appellate Tribunal - Panji

Acit, New Delhi vs M/S. Cec Soma (Jv), New Delhi on 25 September, 2017

           IN THE INCOME TAX APPELLATE TRIBUNAL
                 DELHI BENCH "B", NEW DELHI

     BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER
                        &
      SHRI WASEEM AHMED, ACCOUNTANT MEMBER

                     I.T.A. No.3268/DEL/2013
                     Assessment Year:2008-09

ACIT                       v.   CEC Soma (JV)
Circle 38(1)                    Race Course Metro Station
New Delhi                       Tuglaq Crescent, Tuglaq Road
                                New Delhi
                                TAN/PAN:AAAAC4669E
(Appellant)                     (Respondent)

Appellant by:                Shri Anshu Prakash, D.R.
Respondent by:               None
Date of hearing:             25 09 2017
Date of pronouncement:       25 09 2017

                            ORDER

PER AMIT SHUKLA, J.M.:

The aforesaid appeal has been filed by the Revenue against impugned order dated 5/8/2014, passed by the ld. CIT (A)-XXVIII, New Delhi for quantum of assessment passed under section 143(3) of the Income Tax Act, 1961 for assessment year 2008-09.

2. At the outset, Ld. Sr. DR fairly pointed out that the tax effect on the disputed issue as has been raised by the Revenue in the grounds of appeal is much less than Rs.10 lakhs. The disputed amount and the tax effect as per calculation given by the Ld. DR is as under:-

JV Partner u/s 143(3) U/s 143(3)/(250 Profit sharing Profit sharing ratio Tax Surcharge Cess ratio Tax Surcharge Cess CEC 70.00:30.00 40% 2.50% 3% 64.103:35.897 40% 2.50% 3% 15905406 6362162 159054 190865 14565489 5826196 145655 174786 Profit sharing Profit sharing SOMA ratio Tax Surcharge Cess ratio Tax Surcharge Cess Enterprises 70.00:30.00 30% 10% 3% 64.103:35.897 30% 10% 3% 6816603 2044981 204498 61349 8156520 2446956 244696 73409 Total Tax 8407143 8273152 Tax effect Rs.1,33,992/-

3. Thus the tax effect on the disputed addition admittedly is much less than Rs.10 lakhs, therefore, in view of C.B.D.T. Circular No.21/2015 dated 10/12/2015, the appeal filed by the Revenue is not maintainable. It has been further clarified in the said Circular that the monetary limit for filing of appeal will apply on all the pending appeals also. Accordingly the appeal of the Revenue is dismissed in-limine without going to the merits of the case.

4. In the result, appeal of the Revenue is dismissed.

Order pronounced in the open Court on 25th September, 2017.

            Sd/-                                                           Sd/-
       [WASEEM AHMED]                                                  [AMIT SHUKLA]
     ACCOUNTANT MEMBER                                               JUDICIAL MEMBER

DATED:          25th September, 2017
JJ:2509
                                                                           3


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