Saptgiri Commodity Pvt. Ltd., New Delhi vs Department Of Income Tax

Assistant Commissioner of Vs. M/s Saptgiri Commodity Pvt.Ltd., Income Tax, 77, Darya Ganj, Circle- Circle-7(1), New Delhi. New Delhi. Delhi. PAN : AAICS8092H. (Appellant) (Respondent)

Cross Objection No.0 No.04/Del/2014 Assessment Year : 2006- 2006-07

M/s Saptgiri Commodity Vs. Assistant Commissioner of Income Pvt.Ltd., Tax, 77, Darya Ganj, Circle- Circle-7(1), New Delhi. New Delhi. PAN : AAICS8092H. (Appellant) (Respondent)

Revenue by : Shri B.R.R. Kumar, Sr.DR. Assessee by : Shri J.S. Kochar, CA and Shri U.S. Kochar, Advocate.

ORDER

PER B.C. MEENA, AM :

The appeal by the Revenue emanates from the order of learned CIT(A)-X, New Delhi dated 3rd May, 2013 for the AY 2006-07.

2. At the outset, the learned counsel for the assessee contends that as per Central Board of Direct Taxes, Instruction No.3/2011 dated 09th February, 2011, the revised limit for preferring revenue's appeals is `3 lacs. That the tax effect in the present revenue's appeal is below the prescribed limit of `3 lacs. In view thereof, the revenue's appeal may be dismissed as the tax effect being below the prescribed limit.

2 ITA-4372/Del/2013 & C.O. 4/Del/2014

3. The learned Departmental Representative agrees to the said position.

4. We have heard both sides. The CBDT, vide above instruction has clearly laid down that the revenue should not prefer appeals against assessees before ITAT if the tax effect involved in the appeal, excluding interest, is less than `3 lacs. The tax payable in the present appeal being below `3 lacs, the revenue's appeal is dismissed as not maintainable in view of CBDT Instruction.

5. As we have dismissed the Revenue's appeal, the cross-objection filed by the assessee has become infructuous and is accordingly dismissed.

6. In the result, the appeal of the Revenue and the cross-objection of the assessee both are dismissed.

Decision pronounced in the open Court on conclusion of hearing on 1st January, 2015.

Sd/- Sd/- (I.C. SUDHIR) SUDHIR) (B.C. MEENA) MEENA) JUDICIAL MEMBER ACCOUNTANT MEMBER

Dated : 01.01.2015 VK.

Copy forwarded to: -

1. Appellant : Assistant Commissioner of Income Tax, Circle Circle-7(1), New Delhi.

2. Respondent : M/s Saptgiri Commodity Pvt.Ltd., 77, Darya Ganj, New Delhi.

3. CIT

4. CIT(A)

5. DR, ITAT

Assistant Registrar