ACIT, New Delhi v. Sh. Ashok Bhasin, Gurgaon

ITA 4623/DEL/2009 | 2004-2005
Pronouncement Date: 28-07-2011 | Result: Dismissed

Appeal Details

RSA Number 462320114 RSA 2009
Assessee PAN AAGPB8358H
Bench Delhi
Appeal Number ITA 4623/DEL/2009
Duration Of Justice 1 year(s) 7 month(s) 20 day(s)
Appellant ACIT, New Delhi
Respondent Sh. Ashok Bhasin, Gurgaon
Appeal Type Income Tax Appeal
Pronouncement Date 28-07-2011
Appeal Filed By Department
Order Result Dismissed
Bench Allotted A
Tribunal Order Date 28-07-2011
Date Of Final Hearing 28-07-2011
Next Hearing Date 28-07-2011
Assessment Year 2004-2005
Appeal Filed On 08-12-2009
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH A NEW DELHI BEFORE SHRI R.P. TOLANI AND SHRI SHAMIM YAHYA ITA NO. 4623/DEL/2009 ASSTT. YR: 2004-05 ACIT CIR. 48(1) VS. ASHOK BHASIN NEW DELHI. 1304-B BEVERLY PARK-II APARTMENTS DLF PHASE-II MEHRAULI GURGAON ROAD GURGAON-122001. PAN/GIR NO. AAGPB8358H (APPELLANT ) ( RESPONDENT ) APPELLANT BY : MS. PRATIMA KAUSHIK S. DR RESPONDENT BY : SHRI ASHWANI TANEJA ADV. O R D E R PER R.P. TOLANI J.M : THIS REVENUES APPEAL AGAINST CIT(A)S ORDER DATED 8-9-09 RELATING TO A.Y. 2004-05. 2. THE ONLY EFFECTIVE GROUND RAISED BY THE REVENUE IS AS UNDER: ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. CIT(APPEALS) HAS ERRED IN: DELETING THE PENALTY IMPOSED U/S 271(1)(C) OF THE I .T. ACT 1961 AMOUNTING TO RS. 2 26 342/- BY HOLDING THAT THE ASS ESSEE INADVERTENTLY OMITTED TO INCLUDE SHORT-TERM CAPITAL GAIN OF RS. 4 82 648/- ARISING FROM THE SALE OF SHARES UNDER TH E STOCK OPTION PLAN. 3. LEARNED COUNSEL FOR THE ASSESSEE AT THE OUT SET SUBMITTED THAT THE TAX EFFECT INVOLVED IN REVENUES APPEAL IS LESS THAN RS . 3 LACS AND THEREFORE IN VIEW OF CBDT INSTRUCTION THE DEPARTMENTAL APPEAL I S NOT MAINTAINABLE AND MAY BE DISMISSED AS SUCH. 2 4. LEARNED DR ON THE OTHER HAND RELIED ON THE ORDE R OF AO. 5. WE HAVE HEARD RIVAL SUBMISSIONS AND HAVE GONE TH ROUGH THE MATERIAL AVAILABLE ON RECORD. IT IS NOT DISPUTED THAT THE T AX EFFECT INVOLVED IN REVENUES APPEAL IS LESS THAN RS. 3 LACS. AS PER CB DT INSTRUCTION NO. 1979 DATED 27-3-2000; INSTRUCTION NO. 2 OF 2005 DATED 2 4-10-2005; AND RECENT INSTRUCTION NO. 3 DATED 9 TH FEBRUARY 2011 DEPARTMENTAL APPEALS BEFORE THE ITAT WOULD NOT BE MAINTAINABLE IF THE TAX EFFECT IS BELOW RS. 3 LACS. ADMITTEDLY THE TAX EFFECT INVOLVED IN THE PRESENT A PPEAL IS BELOW RS. 3 LAKHS THEREFORE IN VIEW OF THE INSTRUCTIONS OF THE CBDT REFERRED TO ABOVE THE DEPARTMENTAL APPEAL IS NOT MAINTAINABLE. IN ARRIVIN G AT SUCH CONCLUSION WE ARE ALSO FORTIFIED BY THE RATIO OF DECISIONS IN THE FOLLOWING CASES: (1) CIT VS. PRADEEP KUMAR GUPTA (2007) 207 CTR (DEL) 11 5; (2) ACIT VS. SATISH CHAND JAIN (2006) 10 SOT 383 (DEL.) ; (3) ACIT VS. DOON VALLEY MOTORS (2006) 10 SOT 525 (DEL. ); (4) JCIT VS. DEV RAJ AGARWAL (2005) 92 TTJ (LUCKNOW) 43 6; (5) ITA NO. 3839/D/04 & C.O. 28/DEL/07 ITO VS. M/ S M.J. WARE HOUSING (P) LTD.& VICE VERSA DATED 31-8-2007. 6. IN THE RESULT REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 28-07-2011. SD/- SD/- ( SHAMIM YAHYA ) ( R.P. TOLANI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 28-07-2011. MP COPY TO : 1. ASSESSEE 2. AO 3. CIT 4. CIT(A) 5. DR 3