|
Court : INCOME TAX APPELLATE TRIBUNAL
Brief : : On the facts and in the circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) has erred in :-
Deleting the addition of ` 6,33,212/- made by the Assessing Officer on account of Long Term Capital Gain u/s. 50C(1) of the Income Tax Act, 1961. The appellant craves the right to alter, amend, add or substitute the grounds of appeal
Citation : ITO, Ward 40(3), Room No. 307, Mayur Bhavan, New Delhi – 110 001 (Appellant) Vs. Sh. Mohan Lal Walia, Through L/H Mrs. Prem Walia, G-251, Palam Vihar, Gurgaon, Haryana (PAN/GIR NO.: AAKPW 5557G) (Respondent)
Judgment :
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH “E” NEW DELHI
BEFORE SHRI A.D. JAIN, JUDICIAL MEMBER
AND
SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER
I.T.A. No. 2939/Del/2011
A.Y.: 2004-05
ITO, Ward 40(3),
Room No. 307, Mayur Bhavan,
New Delhi – 110 001
(Appellant)
Vs.
Sh. Mohan Lal Walia,
Through L/H Mrs. Prem Walia,
G-251, Palam Vihar, Gurgaon,
Haryana
(PAN/GIR NO.: AAKPW 5557G)
(Respondent)
Assessee by: Sh. Satish Aggarwal, CA
Department by: S h. R.S. Negi, Sr. D.R.
ORDER
PER SHAMIM YAHYA: AM
This appeal by the Revenue is directed against the order of the Ld. Commissioner of Income Tax (Appeals)-XXVII, New Delhi dated 21.1.2008 for the assessment year 2004-05.
2. The grounds raised in the appeal read as under:-
“On the facts and in the circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) has erred in :-
Deleting the addition of ` 6,33,212/- made by the Assessing Officer on account of Long Term Capital Gain u/s. 50C(1) of the Income Tax Act, 1961. The appellant craves the right to alter, amend, add or substitute the grounds of appeal.”
3. At the threshold, we note that tax effect in this case is less than ` 3 lacs fixed by the CBDT for filing appeal before the tribunal. As per Instruction No. 3/2011 (F.No. 279/Misc./142/2007-ITJ) dated 09.02.2011 issued by the CBDT, the tax effect for filing appeal before the Appellate Tribunal should be more than `3 lakhs. The aforesaid instructions have been held to be applicable to all pending appeals by the Hon’ble Delhi High Court in the decisions in the cases:-
(i) C.I.T. vs. M/s P.S. Jain & Co. in ITA No. 179/1991, order dated 2nd August, 2010.
(ii) C.I.T. vs. Delhi Race Club in ITA No. 128/2008, order dated 3rd March, 2011.
3.1 In the present case, admittedly the tax is below ` 3 lakhs. Hence, the appeal is in contravention of the aforesaid CBDT Circular/Instruction. Hence, the same is liable to be dismissed. Accordingly, this appeal by the revenue stands dismissed for tax effect.
4. In the result, the appeal filed by the Revenue stands dismissed.
Order pronounced in the open court on 22/5/2012.
Sd/- Sd/-
[A.D. JAIN] [SHAMIM YAHYA]
JUDICIAL MEMBER ACCOUNTANT MEMBER
Date: - 22/5/2012
SRBhatnagar
Copy forwarded to: -
1. Appellant
2. Respondent
3. CIT
4. CIT (A)
5. DR, ITAT
TRUE COPY
By Order,
Assistant Registrar,
ITAT, Delhi Benches
|
[Scorecard : 6116]
