A ONE VENTURE COMMERICAL P.LTD, PUNE V. ITO 14(1)(1), MUMBAI

CO 143/MUM/2018

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2480 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 2 month(s) 28 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 03-09-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2007-2008
• Appeal Filed On: 05-06-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: UDAYA B JAKKE LD
• Assessee Lawyers: PRAYAG JHA LD
• Keywords: Tax effect

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI , , BEFORE SHRI SAKTIJIT DEY, JM AND SHRI MANOJ KUMAR AGGARWAL, AM ./ I.T.A. NO.1850/MUM/2016 ( / ASSESSMENT YEAR:2007-08) & CO NO. 143/MUM/2018 INCOME TAX OFFICER - 1 4 (1 ) (1) ROOM NO.431, 4 TH FLOOR AAYKAR BHAVAN, M.K. ROAD MUMBAI-400 020 / VS. M/S A ONE VENTURE COMMERCIAL PVT. LTD. IT OFFICE NO. 18, 5 TH FLOOR VEGA CENTRE, SHANKARSHETH ROAD SWARGATE, PUNE 411 037 PQ ./ ./ PAN/GIR NO. AA ECM - 5620 - R ( QU / APPELLANT ) : ( VWQU / RESPONDENT ) & ./ I.T.A. NO.1851/MUM/2016 ( / ASSESSMENT YEAR:2007-08) & CO NO. 144/MUM/2018 INCOME TAX OFFICER - 14(1)(1) ROOM NO.431, 4 TH FLOOR AAYKAR BHAVAN, M.K. ROAD MUMBAI-400 020 / VS. M/S A ONE COMMERCIAL PVT. LTD. IT OFFICE NO. 18, 5 TH FLOOR VEGA CENTRE, SHANKARSHETH ROAD SWARGATE, PUNE 411 037 PQ ./ ./PAN/GIR NO. AAFCA-6068-A ( QU / APPELLANT ) : ( VWQU / RESPONDENT ) ASSESSEE BY : SHRI PRAYAG JHA LD. AR REVENUE BY : SHRI UDAYA B.JAKKE LD. DR / DATE OF HEARING : 03/09/2019 / DATE OF PRONOUNCEMENT : 03/09/2019 2 / O R D E R PER BENCH 1. AFORESAID APPEALS BY REVENUE, AGAINST TWO SEPARA TE ASSESSEE, FOR ASSESSMENT YEAR [AY] 2007-08 CONTEST SEPARATE ORDER S OF LEARNED FIRST APPELLATE AUTHORITY ON CERTAIN GROUNDS OF APPEAL. B OTH THE ASSESSEES, UPON RECEIPT OF NOTICE OF HEARING, HAVE FILED THE CROSS- OBJECTIONS AGAINST THE SAME. 2. THE LEARNED REPRESENTATIVE, APPEARING FOR ASSESS EE, AT THE OUTSET, DREW OUR ATTENTION TO THE FACT THAT THE TAX EFFECT OF QUANTUM ADDITION BEING CONTESTED BY THE REVENUE IN EACH OF THE APPEAL IS B ELOW THRESHOLD MONETARY LIMIT OF RS.50 LACS AS PRESCRIBED BY CENTRAL BOARD OF DIRECT TAXES IN ITS RECENTLY ISSUED CIRCULAR NO.17/2019 DATED 08/08/201 9 [F.NO.279/MISC.142/2007-TTJ(PT.) GOVERNMENT OF INDI A, MINISTRY OF FINANCE, DEPARTMENT OF REVENUE] AND THEREFORE, THE APPEALS ARE NOT MAINTAINABLE. THIS RECENT CIRCULAR FURTHER ENHANCES THE MONETARY LIMIT FIXED IN EARLIER CIRCULAR NO.3 OF 2018 DATED 11/07/2018 I SSUED BY CBDT AS AMENDED ON 20/08/2018. THE LD. DEPARTMENTAL REPRESE NTATIVE IS UNABLE TO POINT OUT ANY EXCEPTIONS IN THE APPEALS AS PROVIDED IN PARA-10 OF CIRCULAR NO. 3 OF 2018 DATED 11/07/2018. 3. WE HAVE GONE THROUGH THE CIRCULAR AND FIND THAT THE TAX EFFECT OF QUANTUM IN DISPUTE IN EACH OF THE APPEAL IS BELOW P RESCRIBED LIMIT OF RS.50 LACS AND THE ASSESSEE STOOD BENEFITTED BY THE ABOVE CIRCULAR ISSUED BY CBDT WHEREIN THE MINIMUM MONETARY LIMIT FOR FILING THE APPEALS BEFORE VARIOUS APPELLATE AUTHORITIES HAVE BEEN FIXED AS UN DER: - 3 S. NO. APPEALS/ SLPS IN INCOME-TAX MATTERS MONETARY LIMIT (RS.) 1 BEFORE APPELLATE TRIBUNAL 50.00,000 2 BEFORE HIGH COURT 1,00.00,000 3 BEFORE SUPREME COURT 2,00.00,000 THE AFORESAID LIMITS, AS PER PARA 13 OF THE CIRCULAR NO. 3 OF 2018 DATED 11/07/2018, APPLIES TO PENDING APPEALS ALSO. IN VIE W OF THE ADMITTED POSITION, WE DISMISS BOTH THE APPEALS FILED BY THE REVENUE WHICH MAKES ASSESSEES CROSS-OBJECTIONS INFRUCTUOUS. 4. AT THE SAME TIME, A LIBERTY IS GIVEN TO REVENUE TO SEEK RECALL OF ANY OF THE APPEAL, IF AT A LATER STAGE, IT IS FOUND THAT T HE MATTER IS COVERED BY ANY EXCEPTIONS PROVIDED IN THE AFORESAID CIRCULAR OR IN CASE THE TAX EFFECT OF THE QUANTUM ADDITIONS IN ANY OF THE APPEAL AS AGITATED BY REVENUE EXCEEDS THE PRESCRIBED MONETARY LIMIT. 5. RESULTANTLY, THE CAPTIONED APPEALS AS WELL AS CR OSS-OBJECTIONS STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 03 RD SEPTEMBER, 2019. SD/- SD/- (SAKTIJIT DEY) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 03/09/2019 SR.PS:-JAISY VARGHESE 4 JK LK / COPY OF THE ORDER FORWARDED TO : 1. QU / THE APPELLANT 2. VWQU / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT CONCERNED 5. E F V G , G , / DR, ITAT, MUMBAI 6. F HIJ / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.