DCIT Circle-2(1) (2),, Ahmedabad v. Lambda Therapeutic Research Ltd.,, Ahmedabad

ITA 1935/AHD/2018 | 2014-2015
Pronouncement Date: 17-03-2021 | Result: Dismissed

Appeal Details

RSA Number 193520514 RSA 2018
Assessee PAN AAACL4089R
Bench Ahmedabad
Appeal Number ITA 1935/AHD/2018
Duration Of Justice 2 year(s) 6 month(s) 4 day(s)
Appellant DCIT Circle-2(1) (2),, Ahmedabad
Respondent Lambda Therapeutic Research Ltd.,, Ahmedabad
Appeal Type Income Tax Appeal
Pronouncement Date 17-03-2021
Appeal Filed By Department
Order Result Dismissed
Bench Allotted C
Tribunal Order Date 17-03-2021
Last Hearing Date 22-04-2020
First Hearing Date 22-04-2020
Assessment Year 2014-2015
Appeal Filed On 12-09-2018
Judgment Text
D IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH AHMEDABAD BEFORE SHRI MAHAVIR PRAS AD JUDICIAL MEMBER & SHRI WASEEM AHMED ACCOUNTANT MEMBER [VIRTUAL COURT] ./ I.T.A. NO. 1935/AHD/2018 ( / ASSESSMENT YEAR : 2014-15) THE DCIT CIRCLE- 2(1)(2) AHMEDABAD / VS. LAMBDA THERAPEUTIC RESEARCH LTD. LAMBDA HOUSE OPP. GUJARAT HIGH COURT S.G. HIGHWAY AHMEDABAD ./ ./ PAN/GIR NO. : AAACL4089R ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI LALIT P. JAIN SR.D.R. / RESPONDENT BY : SHRI T.P. HEMANI SR. ADV. & SHRI PARIMAL SINGH PARMAR A.R. / DATE OF HEARING 17/03/2021 / DATE OF PRONOUNCEMENT 17/03/2021 / O R D E R PER MAHAVIR PRASAD - JM: THE CAPTIONED APPEAL HAS BEEN FILED AT THE INSTANCE OF THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-2 AHMEDABAD (CIT(A) IN SHORT) DATED 20.06.2018 ARISING OUT OF ASSESSMENT ORDER DATED 25.01.2018 FOR AY 2014-15. 2. AT THE TIME OF HEARING IT WAS SUBMITTED BY THE LD.AR FOR THE ASSESSEE THAT THE APPEAL FILED BY THE REVENUE IS HIT BY RECENTLY ISSUED CBDT CIRCULAR NO.17 OF 2019 DATED 08/08/2019 REVISING THE PREVIOUS THRESHOLDS PERTAINING ITA NO. 1935/AHD/18 A.Y. 2014-15 - 2 - TO TAX EFFECTS. IT IS INTER ALIA NOTICED THAT THE CBDT VIDE INSTRUCTION NO. F. NO. 279/MISC/M-93/2018-ITJ DT. 20/08 /2019 HAS OBSERVED THAT CIRCULAR NO.17/2019 DATED 08/08/2019 RELATING TO ENHANCEMENT OF MONETARY LIMITS IS ALSO APPLICABLE TO ALL PENDING APPEALS. AS PER AFORESAID CIRCULAR READ WITH INSTRUCTION ALL PENDING APPEALS FILED BY REVENUE ARE LIABLE TO BE DISMISSED AS A MEASURE FOR REDUCING LITIGATION WHERE THE TAX EFFECT DOES NOT EXCEED THE PRESCRIBED MONETARY LIMIT WHICH IS NOW REVISED AT RS.50 LAKHS. IN THE INSTANT CASE THE TAX EFFECT ON THE DISPUTED ISSUES RAISED BY THE REVENUE IS STATED TO BE NOT EXCEEDING RS.50 LAKHS AND THEREFORE APPEAL OF THE REVENUE IS REQUIRED TO BE DISMISSED IN LIMINE . 3. THE LEARNED DR FOR THE REVENUE FAIRLY ADMITTED THE APPLICABILITY OF THE CBDT CIRCULAR NO. 17 OF 2019. A CCORDINGLY APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. HOWEVER IT WILL BE OPEN TO THE REVENUE TO SEEK RESTORATION OF ITS APPEAL ON SHOWING INAPPLICABILITY OF THE AFORESAID CBDT CIRCULAR IN ANY MANNER. 4. IN THE RESULT THE APPEAL OF THE REVENUE IS DISMISSED. SD/- SD/- (WASEEM AHMED) (M AHAVIR PRASAD) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD: DATED 17/03/2021 TRUE COPY RAJESH / COPY OF ORDER FORWARDED TO:- 1. / REVENUE 2. / ASSESSEE 3. / CONCERNED CIT 4. - / CIT (A) 5. / DR ITAT AHMEDABAD 6. / GUARD FILE. BY ORDER / / THIS ORDER PRONOUNCED IN OPEN COURT ON 17/03/2021