Income Tax Appellate Tribunal - Jaipur
Acit, Sikar vs Sikar Kendriya Sahkari Bank Ltd., Sikar on 14 December, 2017
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IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR
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BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM
vk;dj vihy la-@MA No.83/JP/17
(Arising out of ITA No. 171/JP/14)
fu/kZkj.k o"kZ@Assessment Year : 2007-08
ACIT, cuke M/s Sikar Kendriya Sahkari
Circle-Sikar Vs. Bank Ltd., Basant Vihar,
Sikar
LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAAAS1601G
vihykFkhZ@Appellant izR;FkhZ@Respondent
jktLo dh vksj ls@ Revenue by : Smt. Neena Jeph (JCIT)
fu/kZkfjrh dh vksj l@
s Assessee by : Shri Anil Kaushik (CA)
lquokbZ dh rkjh[k@ Date of Hearing : 08/12/2017
mn?kks"k.kk dh rkjh[k@Date of Pronouncement: 14/12/2017
vkns'k@ ORDER
PER: VIKRAM SINGH YADAV, A.M. The Revenue has moved the present misc. application against the order passed by the Coordinate Bench in ITA No. 171/JP/2014 dated 17.12.2015 for A.Y. 2007-08.
2. In its application, the Revenue has submitted that the appellate order in ITA No. 171/JP/2014 dated 17.12.2015 in the case of M/s Sikar Kendriya Sahkari Bank Ltd., Basant Vihar, Sikar for the AY 2007-08 2 M.A. No. 83/JP/2017 ACIT, Sikar Vs. M/s Sikar Kendriya Sahkari Bank Ltd., Sikar (PAN-AAAA1601G) has been received by the Pr. Commissioner of Income-tax-3, Jaipur on 16.01.2017.
3. It was submitted by the Revenue that the ITAT, Jaipur Bench, Jaipur following the Circular No. 21 of 2015 dated 10.12.2015 (F.No. 279/Misc. 142/2007-ITJ(Pt)) issued by the CBDT, New Delhi has dismissed the Department appeal treated as not pressed/withdrawn. The ITAT, Jaipur Bench, Jaipur observed that the appeal is not covered by any exception mentioned in the CBDT circular and tax demand in dispute does not exceed the limit of Rs. 10 lakh. Further, the Circular issued by the CBDT, New Delhi is also applicable to all pending appeals. However, on perusal of the assessment records of the assessee for AY 2007-08, it was noticed that the tax effect in this case is Rs. 1,28,63,320, which is more than the prescribed limit for filing the appeal before the Hon'ble ITAT, Jaipur Bench, Jaipur. In other words the circular mentioned above is not applicable in the present case. Therefore, it was requested that the earlier order may be recalled and the department's appeal may be heard and decided on merits.
4. The ld AR was heard who has raised the issue of limitation and submitted that the subject misc. application was barred by limitation as provided under section 254(2) of the Act.
5. After hearing both the parties and on perusal of material on record, we find that firstly, the present misc. application is not barred by limitation. Though the subject order was passed by the Coordinate Bench on 17.12.2015, the same was forwarded by the Registry to the 3 M.A. No. 83/JP/2017 ACIT, Sikar Vs. M/s Sikar Kendriya Sahkari Bank Ltd., Sikar Revenue on 7.07.2016 and thereafter, was received by the PCIT on 16.01.2017 and these dates are not in dispute. Given that the present misc. application has been filed on 29.03.2017, the same is well within the limitation period prescribed under section 254(2) of the Act. Further, we find the contention of the Revenue to be correct that the tax effect in this case is well above the prescribed threshold and the appeal is clearly maintainable.
6. We accordingly recall the order passed by the Coordinate Bench dated 17.12.2015 to the extent it pertains to ITA No. 171/JP/2014. The Registry is directed to fix the matter for hearing on 18.01.2018. The Parties are at liberty to file paperbook, if any, one week in advance of the scheduled date of hearing.
The miscellaneous application is allowed with above directions.
Order pronounced in the open court on 14/12/2017 Sd/- Sd/-
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(Vijay Pal Rao) (Vikram Singh Yadav)
U;kf;d lnL;@Judicial Member ys[kk lnL;@Accountant Member
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fnukad@Dated:- 14/12/2017
Ganesh Kr.
vkns'k dh izfrfyfi vxzfs 'kr@Copy of the order forwarded to:
1. vihykFkhZ@The Appellant- ACIT, Sikar
2. izR;FkhZ@ The Respondent- M/s Sikar Kendriya Sahkari Bank Ltd., Sikar 4 M.A. No. 83/JP/2017 ACIT, Sikar Vs. M/s Sikar Kendriya Sahkari Bank Ltd., Sikar
3. vk;dj vk;qDr@ CIT
4. vk;dj vk;qDr@ CIT(A)
5. foHkkxh; izfrfuf/k] vk;dj vihyh; vf/kdj.k] t;iqj@DR, ITAT, Jaipur.
6. xkMZ QkbZy@ Guard File {M.A. No. 83/JP/2017} vkns'kkuqlkj@ By order, lgk;d iathdkj@Asst. Registrar