ITO, New Delhi v. M/s Navyug Projects Pvt. Ltd., New Delhi

ITA 4682/DEL/2010 | 2001-2002
Pronouncement Date: 16-03-2011 | Result: Dismissed

Appeal Details

RSA Number 468220114 RSA 2010
Assessee PAN AABCN1919R
Bench Delhi
Appeal Number ITA 4682/DEL/2010
Duration Of Justice 4 month(s) 20 day(s)
Appellant ITO, New Delhi
Respondent M/s Navyug Projects Pvt. Ltd., New Delhi
Appeal Type Income Tax Appeal
Pronouncement Date 16-03-2011
Appeal Filed By Department
Order Result Dismissed
Bench Allotted E
Tribunal Order Date 16-03-2011
Date Of Final Hearing 16-03-2011
Next Hearing Date 16-03-2011
Assessment Year 2001-2002
Appeal Filed On 27-10-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH E : NEW DELHI) BEFORE SHRI RAJPAL YADAV JUDICIAL MEMBER AND SHRI B.C. MEENA. ACCOUNTANT MEMBER ITA NOS.4682 & 4683/DEL./2010 (ASSESSMENT YEARS : 2001-02 & 2002-03) ITO WARD 13(1) VS. M/S NAVYUG PROJECTS PVT. LTD. NEW DELHI. 28 N.W.A. CLUB ROAD PUNJABI BAGH EXTN. NEW DELHI. (PAN/GIR NO.AABCN1919R) (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI SATYEN SETHI ADV. REVENUE BY : SHRI PIYUSH SONKAR SR.DR ORDER PER B.C. MEENA: AM THESE APPEALS BY THE REVENUE ARE DIRECTED AGAINST TH E ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS)-XVI NEW DELHI DATED 09.08.2010 PERTAINING TO ASSESSMENT YEARS 2001-02 & 2002 -03. 2. THE ISSUE RAISED IN THESE APPEALS IS THAT LD. COMMISSION ER OF INCOMETAX (APPEALS) HAS ERRED IN DELETING DISALLOWANC E OF ` 2 50 000/- AND `6 50 000/- IN I.T.A. NOS.4682 AND 4683 RESPECTI VELY MADE U/S 68 OF THE ACT ON ACCOUNT OF SHARE APPLICATION MONEY PAR TICULARLY WHEN THE ASSESSEE HAD ALREADY SURRENDERED THE SAID AMOUNT DURING T HE COURSE OF ASSESSMENT PROCEEDINGS ITSELF. 3. AT THE THRESHOLD WE NOTE THAT THE TAX EFFECT IN BOTH APPEALS IS LESS THAN ` 3 LAKHS. 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 TRIBU NAL SHOULD BE MORE THAN ` 3 LAKHS. IN THE PRESENT CASE ADMITTEDLY THE T AX IS BELOW ` 3 LAKHS. HENCE THE APPEALS ARE IN CONTRAVENTION OF THE AFORESAID CBDT CIRCULAR/INSTRUCTION. HENCE THE SAME IS LIABLE TO BE DISMISSED. I.T.A. NOS.4682 & 4683/DEL./10 (A.YS. : 2001-02 & 02-03) 2 ACCORDINGLY THESE APPEALS BY THE REVENUE STAND DISMISSED FOR TAX EFFECT. 4. IN THE RESULT THE APPEALS FILED BY THE REVENUE AR E DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 16/03/2011 UP ON CONCLUSION OF HEARING. SD/- SD/- [RAJPAL YADAV] [B.C. MEENA] JUDICIAL MEMBER ACCOUNTANT MEMBER DATE 16/03/2011 SKB COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A)-XVI NEW DELHI. 5. CIT( ITAT) BY ORDER DEPUTY REGISTRAR ITAT DELHI BENCHES