ACIT, Cir.-1,, Nashik v. Jagdish Singh Amrit Singh Bindra, Nashik

ITA 1538/PUN/2005 | 2002-2003
Pronouncement Date: 27-07-2012 | Result: Dismissed

Appeal Details

RSA Number 153824514 RSA 2005
Assessee PAN AEKPB4641R
Bench Pune
Appeal Number ITA 1538/PUN/2005
Duration Of Justice 6 year(s) 11 month(s) 16 day(s)
Appellant ACIT, Cir.-1,, Nashik
Respondent Jagdish Singh Amrit Singh Bindra, Nashik
Appeal Type Income Tax Appeal
Pronouncement Date 27-07-2012
Appeal Filed By Department
Order Result Dismissed
Bench Allotted B
Tribunal Order Date 27-07-2012
Date Of Final Hearing 27-07-2012
Next Hearing Date 27-07-2012
Assessment Year 2002-2003
Appeal Filed On 10-08-2005
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B PUNE BEFORE SHRI R.S. PADVEKAR JUDICIAL MEMBER AND SHRI R.K. PANDA ACCOUNTANT MEMBER ITA NO. 1538/PN/2005 (ASSTT. YEAR : 2002-03) THE ASSTT. COMMISSIONER OF INCOME - TAX ... APPELLANT CIRCLE- I NASHIK V. SHRI JAGDISH SINGH AMRIT SINGH RESPONDENT BINDRA AMRI VILLA STATION ROAD NASHIK ROAD NASHIK PAN : AEKPB4641R APPELLANT BY : SHRI. M.K. KULKARNI RESPONDENT BY : SHRI ALOK MISHRA DATE OF HEARING : 27/7/12 DATE OF PRONOUNCEMENT : -7-12 ORDER PER R.S. PADVEKAR JM THIS APPEAL IS FILED BY THE REVENUE CHALLENGING THE IMPUGN ED ORDER OF THE LD CIT(A)- I NASHIK DATED 331 ST MAY 2005 FOR THE A.Y. 2002-03. THIS APPEAL WAS ORIGINALLY DISMISSED BY THE TRIBUNAL VIDE ORDER DATED 1 6.8.2007 ON THE REASON THAT THE APPEAL IS NOT MAINTAINABLE IN VIEW OF THE M ONETARY LIMIT ON THE TAX EFFECT PUT BY THE CBDT IN THE INSTRUCTIONS NO. F. NO. 279/MISC/64/05-IT DATED 24.10.2005 AND ALSO FOLLOWING THE DECISION OF THE JURISD ICTIONAL HIGH COURT IN THE CASE OF CIT VS. ZOEB Y. TOPIWALA 284 ITR 379 (BOM .). THEREAFTER THE REVENUE MOVED THE MISCELLANEOUS APPLICATION AND IT WAS PLEA DED THAT THE TAX EFFECT WAS MORE THAN 2 00 000/-. AFTER EXAMINING THE TAX WORKING WORK FURNISHED BY THE REVENUE THE ORDER OF THE TRIBUNAL WAS R ECALLED AND MATTER WAS FIXED FOR HEARING. 2. WE HAVE HEARD THE PARTIES AND PERUSED THE RECORD. 3. AT THE OUTSET THE LD. COUNSEL SUBMITTED THAT THE T AX EFFECT IN RESPECT OF THE ISSUE BEFORE THE TRIBUNAL IS RS. 2 80 704/- WHICH IS LESS THAN 3 00 000/-. HE SUBMITS THAT THE CBDT HAS ISSUED THE INSTRUCTIONS NO. 3 DATED 09.02.2011 AND THE SAID INSTRUCTIONS HAS SUPERSEDED ALL THE PRIOR IN STRUCTIONS AND NEW ITA . NO.1538//PN/2005 SHRI JAGDISH SINGH AMRIT SINGH A.Y. 2002-03 PAGE OF 3 2 MONETARY LIMIT FIXED BY THE BOARD IS RS. 3 00 000/- TAX EFFEC T EXCLUDING THE ELEMENT OF INTEREST. HE SUBMITS THAT EARLIER THE APPEAL W AS DISMISSED AS THE PRECEDING CIRCULAR WAS CONSIDERED WHERE THE MONETARY LIMIT WAS RS. 2 00 000/- BUT NOW THE MONETARY LIMIT HAS BEEN ENHANCED FROM RS. 2 00 000/- TO RS.3 00 000/- AND THE SAID LIMITATION IS APPLICABLE TO THE PEN DING APPEALS AS HELD BY THE HONBLE HIGH COURT OF BOMBAY IN THE CASE OF MADHUKAR K. INAMDAR 318 ITR 149 (BOM). HE THEREFORE PLEADED FOR DISMISSING THE PRESENT APPE AL. 4. WE HAVE ALSO HEARD THE LD. D.R. WHO FAIRLY CONCEDED THAT IF THE INTEREST ELEMENT IS EXCLUDED THEN THE ONLY TAX EFFECT IS BELOW RS. 3 00 000/-. 5. WE FIND THAT WHEN THIS APPEAL WAS EARLIER DISMISSED BY THE TRIBUNAL AT THAT TIME THE MONETARY LIMIT WAS RS. 2 00 000/- AS FIXED BY THE CBDT. SUBSEQUENTLY VIDE INSTRUCTION NO. 3 DATED 9.2.2011 CBDT HAS ENHANCED THE MONETARY LIMIT TO RS. 3 00 000/-. WE FIND THAT THE HONBLE H IGH COURT OF BOMBAY HAS CONSIDERED THE APPLICABILITY OF INSTRUCTION/CIR CULAR NO.3 DATED 9.2.2011 IN THE CASE OF MADHUKAR K. INAMDAR (SUPRA) AND IT IS HELD THAT THE SAID CIRCULAR IS APPLICABLE TO THE APPEALS PENDING FOR ADMISSION OR FINAL DISPOSAL. ADMITTEDLY TODAY THE APPEAL IS FIXED FOR FINAL HEARING AND HENCE WE HAVE TO CONSIDER INSTRUCTION/CIRCULAR NO. 3 DATED 9.2.2011 AND AS PER THE SAID CIRCULAR THE TAX EFFECT IS LESS THAN RS. 3 00 000/-. HENCE THIS APPE AL IS NOT MAINTAINABLE ON THE SAID REASONS. 6. IN THE RESULT REVENUES APPEAL IS DISMISSED ON THE ISSUE OF MONETA RY LIMIT. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON THIS DAY OF 27TH JU LY 2012 SD/- SD/- (R.K. PANDA) ACCOUNTANT MEMBER (R.S. PADVEKAR ) JUDICIAL MEMBER PUNE DATED THE 27TH JULY 2012 US COPY OF THE ORDER IS FORWARDED TO : ITA . NO.1538//PN/2005 SHRI JAGDISH SINGH AMRIT SINGH A.Y. 2002-03 PAGE OF 3 3 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT I NASHIK 4. THE CIT(A)- I NASHIK 4. THE D.R. B BENCH PUNE 5. GUARD FILE /-TRUE COPY-/ BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL PUNE