Dcit New Delhi v. M S Sahara India Real Estate Corp Ltd Lucknow

In The Income Tax Appelate Tribunal Delhi Bench G New Delhi Before Shri H S Sidhu Judicial Member And Shri B P Jain Accountant Member I T A No 5264 Del 2014 A Y 2009 10 Dy Commissioner Of Income Tax Vs M S Sahara I Ndia Real Estate Corp Ltd Circle 6 1 Kapoorthala Complex Room No 334 Aliganj Lucknow Ara Centre Jhandewalan Extn New Delhi Pan Aajcs 7265 F Appellant Respondent And Cross Objection No 220 Del 2017 In Ita No 5264 Del 2014 A Y 2009 10 M S Sahara India Real Estate Corp Ltd Vs Dy C Ommissioner Of Income 1 Kapoorthala Complex Tax Circle 6 Aliganj Lucknow Room No 334 Ara Centre Jhandewalan Extn New Delhi Appellant Respondent Department By Sh Kaushlendra Tiwari Sr Dr Assessee By Sh Dinesh Verma Ad V Sh Hardeep Singh Ca Order Per H S Sidhu Jm The Department Has Filed This Appeal And Assessee Has Filed The Cross Objection Which Is Emanate From The Order Dated 17 7 2014 Of Ld Cit A 1 New Delhi Pertaining To Assessment Year 2009 10 The Grounds Raised In The Revenues Appeal Reads As Under On The Facts And In The Circumstances Of The Case The Ld Cit A Has Erred In 2 1 The Order Of Ld Cit A Is Not Correct In Law And F Acts 2 On The Facts And Circumstances Of The Case The Ld Cit A Has Erred In Deleting The Penalty Of Rs 5 46 754 Imposed By A Ddl Cit U S 271 E Of The I T Act 1961 3 The Appellant Craves Leave To Add Amend Any All The Grounds Of Appeal Before Or During The Course Of Hearing Of The Appea L 2 At The Time Of Hearing Ld Counsel Of The Asse Ssee Has Stated That The Tax Effect In The Revenues Appeal Is Below The Prescribed Limit Of Rs 10 Lacs As Fixed By The Cbdt Therefore He Requested That The Appeal Of The Reve Nue May Be Dismissed On This Account However He Did Not Press The Cross Obj Ection Filed By The Assessee 3 On The Other Hand Ld Dr Did Not Controvert The Contention Raised By The Ld Counsel Of The Assessee But He Relied Upon The Ord Er Of The Ao 4 We Have Heard Both The Parties And Perused The Records We Find Considerable Cogency In The Contention Of The Ld Counsel Of Th E Assessee That The Tax Effect In The Revenues Appeal Is Below The Limit Of Rs 10 Lacs As Fixed By The Cbdt And Therefore The Departments Appeal Is Not Maintainable In V Iew Of The Circular No 21 2015 Dated 10 Th December 2015 Issued Vide F No 279 Misc 142 200 7 Itj Pt By The Cbdt For The Sake Of Convenience The Relevant Para Nos 3 10 Of The Aforesaid Cbdts Circular Are Reproduced As Under 3 Henceforth Appeals Slps Shall Not Be Filed In Cases Where The Tax Effect Does Not Exceed The Monetary Limits Given He Reunder S No A Ppeals In Income Tax Matters Monetary Limit In Rs 1 Before Appellate Tribunal 10 00 000 2 Before High Court 20 00 000 3 Before Supreme Court 25 00 000 It Is Clarified That An Appeal Should Not Be Filed Merely Because The Tax Effect In A Case Exceeds The Monetary Limits Prescr Ibed Above Filing Of Appeal In Such Cases Is To Be Decided On Merits Of The Case 10 This Instruction Will Apply Retrospectively To Pending Appeals And Appeals To Be Filed Henceforth In High Courts Trib Unals Pending Appeals Below The Specified Tax Limits In Para 3 Ab Ove May Be 3 Withdrawn Not Pressed Appeals Before The Supreme Court Will Be Governed By The Instructions On This Subject Opera Tive At The Time When Such Appeal Was Filed 5 It Is Not In Dispute That The Boards Instructio N Or Directions Issued To The Income Tax Authorities Are Binding On Those Authorities T Herefore The Department Should Have Withdrawn Not Pressed The Present Appeal In View Of The Aforesaid Instructions Since The Tax Effect In The Instant Appeal Is Less Than The A Mount Of Rs 10 Lacs Prescribed In The Above Said Cbdts Instructions 6 Keeping In View The Cbdt Instruction No 21 2015 Dated 10 Th December 2015 We Are Of The View That The Revenue Should Have Wit Hdrawn Not Pressed The Instant Appeal Before The Tribunal We Are Also Of The Vie W That The Said Instructions Are Applicable For The Pending Appeals And Appeals To B E Filed Henceforth In Tribunal Accordingly The Revenues Appeal Is Dismissed Assessees Cross Objection 7 As Far As Assessees Cross Objection Is Concerne D Since The Ld Counsel Of The Assesseee Did Not Press The Cross Objection Hence The Same Is Dismissed As Such 8 In The Result The Revenues Appeal As Well As Assessees Cross Objection Stand Dismissed Order Pronounced On 21 12 2017 Sd Sd B P Jain H S Sidhu Accountant Member Judicial Member Dated 21 12 2017 Sr Bhatnagar Copy Forwarded To 1 Appellant 2 Respondent 3 Cit 4 Cit A 5 Dr Itat True Copy By Order Assistant Registrar