Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: articles on VAT and GST in India :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: VAT RATES :: form 3cd :: TDS :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit
 
 
From the Courts »
  Vatsala Shenoy vs. JCIT (Supreme Court)
  Vatsala Shenoy vs. JCIT (Supreme Court)
 M.K.Overseas Pvt. Ltd. Vs. Pr.Commissioner Of Income Tax-06
 Arshia Ahmed Qureshi Vs. Pr. Commissioner Of Income Tax-21
 CHAUDHARY SKIN TRADING COMPANY Vs. PR. COMMISSIONER OF INCOME TAX-21
  Sushila Devi vs. CIT (Delhi High Court)
  Vatsala Shenoy vs. JCIT (Supreme Court)
 Deputy Director Of Income Tax Vs. Virage Logic International
 Commissioner Of Income Tax-3 International Taxation Vs. Virage Logic International India
 Pr. Commissioner Of Income Tax-06 Vs. Moderate Leasing And Capital Services Pvt. Ltd.
 ITO vs. Vikram A. Pradhan (ITAT Mumbai)

ITO, Ward 40(3), Room No. 307, Mayur Bhavan, vs. Sh. Mohan Lal Walia, Through L/H Mrs. Prem Walia, G-251, Palam Vihar, Gurgaon,
May, 23rd 2012
                                                              ITA NO. 2939/DEL/2011


                   IN THE INCOME TAX APPELLATE TRIBUNAL
                         DELHI BENCH "E" NEW DELHI
                   BEFORE SHRI A.D. JAIN, JUDICIAL MEMBER
                                       AND
                 SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER
                            I.T.A. No. 2939/Del/2011
                                  A.Y. : 2004-05

ITO, Ward 40(3),                        vs. Sh. Mohan Lal Walia,
Room No. 307, Mayur Bhavan,                 Through L/H Mrs. Prem Walia,
New Delhi ­ 110 001                         G-251, Palam Vihar, Gurgaon,
                                            Haryana
                                            (PAN/GIR NO. : AAKPW 5557G)

(Appellant)                                  (Respondent)


           Assessee by                   :   Sh. Satish Aggarwal, CA
          Department by                  :   Sh. R.S. Negi, Sr. D.R.


                                       ORDER
PER SHAMIM YAHYA : AM
      This appeal by the Revenue is directed against the order of the Ld.
Commissioner of Income Tax (Appeals)-XXVII, New Delhi dated 21.1.2008 for
the assessment year 2004-05.

2.    The grounds raised in the appeal read as under:-


              "On the facts and   in the circumstances of the case, the Ld.
              Commissioner of Income Tax (Appeals) has erred in :-

                   Deleting the addition of ` 6,33,212/- made by the
                   Assessing Officer    on account of Long Term Capital Gain
                   u/s. 50C(1) of the Income Tax Act, 1961.

                   The appellant craves the right to alter, amend, add or
                   substitute the grounds of appeal."

                                        1
                                                                  ITA NO. 2939/DEL/2011


3.      At the threshold, we note that tax effect in this case is less than
` 3 lacs fixed by the CBDT for filing appeal before the tribunal.                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
Tribunal should be more than ` 3 lakhs.           The aforesaid instructions have
been held to be applicable to all pending appeals by the Hon'ble Delhi High
Court in the decisions in the cases:-

(i)     C.I.T. vs. M/s P.S. Jain & Co. in ITA No. 179/1991, order dated 2nd
        August, 2010.

(ii)    C.I.T. vs. Delhi Race Club in ITA No. 128/2008, order dated 3rd March,
        2011.

3.1     In    the   present    case,     admittedly       the     tax       is   below
` 3 lakhs. Hence, the appeal      is    in contravention of the aforesaid CBDT
Circular/Instruction. Hence, the same is liable to be dismissed. Accordingly,
this appeal by the revenue stands dismissed for tax effect.

4.      In the result, the appeal filed by the Revenue stands dismissed.

        Order pronounced in the open court on 22/5/2012.

        d/-
      Sd/-                                                     Sd/-
                                                               Sd/-
       JAIN]
 [A.D. JAIN]                                              [SHAMIM YAHYA]
JUDICIAL MEMBER                                        ACCOUNTANT MEMBER

Date:- 22/5/2012
SRBhatnagar
Copy forwarded to: -
1.      Appellant   2.    Respondent         3.     CIT   4.      CIT (A)
5.      DR, ITAT
                                TRUE COPY

                                                          By Order,
                                                                 Assistant Registrar,
                                                                ITAT, Delhi Benches



                                         2
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions