SHIRISH LAKHAMSHI KENIYA (HUF), MUMBAI V. ACIT - 25(2), MUMBAI

CO 189/MUM/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2069 (ITAT-MUMBAI)
• Duration Of Justice: 29 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 06-09-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2014-2015
• Appeal Filed On: 08-08-2019
• Result in Favour of: Set Aside
• Court: TRIBUNAL
• Department Lawyers: MK SINGH
• Assessee Lawyers: A GOPALKRISHAN
• Keywords: Tax effect
• Section: 143(3); 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL H, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI PAWAN SINGH, JM ITA NO.5386/MUM/2018 ( ASSESSMENT YEAR: 2014-15 ) ASSTT. COMMISSIONER OF INCOME TAX- 25(2), R. NO. 505, C-10, 5 TH FLOOR, PRATYAKSHA KAR BHAVAN, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI-400051. VS. KENIYA SHIRISH LAKHAMSHI (HUF), 4, KALPANA BUILDING, B-WING, 20A, PARK ROAD, VILE PARLE (E), MUMBAI-400057. PAN/GIR NO.AAAHK 3064 N (APPELLANT ) .. (RESPONDENT ) C.O. NO. 189/MUM/2019 (ARISING OUT OF ITA NO.5386/MUM/2018 ( ASSESSMENT YEAR: 2014-15 ) SHIRISH LAKHAMSHI KENIYA (HUF), 4, KALPANA BUILDING, B-WING, 20A, PARK ROAD, VILE PARLE (E), MUMBAI-400057. VS. ASSTT. COMMISSIONER OF INCOME TAX- 25(2), R. NO. 505, C-10, 5 TH FLOOR, PRATYAKSHA KAR BHAVAN, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI-400051. PAN/GIR NO.AAAHK 3064 N (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI M.K. SINGH (DR) ASSESSEE BY SHRI A. GOPALKRISHAN (AR) DATE OF HEARING 29/08/2019 DATE OF PRONOUNCEMENT 06/09/2019 / O R D E R PER: R.C. SHARMA, A.M. THE APPEAL BY THE REVENUE AND THE CROSS OBJECTION BY THE ASSESSE ARE DIRECTED AGAINST THE ORDER DATED 20/07/2018 OF LD. CIT(A)-37, ITA NO. 5386/MUM/2018 & C.O. 189/MUM/2019 ACIT VS KENIYA SHIRISH LAKHAMSHI (HUF) 2 MUMBAI FOR THE A.Y. 2014-15 IN THE MATTER OF ORDER PASSED U/S 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT, THE ACT). 2. FIRSTLY WE TAKE REVENUES APPEAL. AS PER GROUNDS OF APPEAL, TAX EFFECT IN RESPECT OF RELIEF GRANTED BY THE LD. CIT(A) WORKS OUT TO BE LESS THAN RS. 50.00 LACS, THEREFORE, IN VIEW OF THE CBDT CIRCULAR NO. 17/2019 DATED 08/08/2019 T HIS APPEAL DESERVES TO BE DISMISSED. 3. CBDT CIRCULAR NO. 17 OF 2019 DATED 08.08.2019 RE ADS AS UNDER:- FURTHER ENHANCEMENT OF MONETARY LIMITS FOR FILING O F APPEALS BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TRIBUNAL , HIGH COURTS AND SLPS/APPEALS BEFORE SUPREME COURT - AMEN DMENT TO CIRCULAR 3 OF 2018 - MEASURES FOR REDUCING LITIGATI ON. CIRCULAR NO. 3/2018 DATED 11TH JULY 2018 HAS BEEN R EPLACED BY CIRCULAR NO. 17/2019 DATED 8TH AUGUST 2019 TO ENHAN CE MONETARY LIMITS FOR FILING OF APPEALS BY THE DEPARTMENT BEFO RE INCOME TAX APPELLATE TRIBUNAL, HIGH COURTS AND SLPS/APPEALS BE FORE SUPREME COURT FOR REDUCING LITIGATION. APPEALS/SLPS IN INCOME- TAX MATTERS MONETARY LIMIT (RS.) (PREVIOUS LIMIT) MONETARY LIMIT (RS.) (REVISED LIMIT) BEFORE APPELLATE TRIBUNAL 20,00,000 50,00,000 BEFORE HIGH COURT 50,00,000 1,00,00,000 BEFORE SUPREME COURT 1,00,00,000 2,00,00,000 THE ASSESSING OFFICER SHALL CALCULATE THE TAX EFFEC T SEPARATELY FOR EVERY ASSESSMENT YEAR IN RESPECT OF THE DISPUTED IS SUES IN THE CASE OF EVERY ASSESSEE. IF, IN THE CASE OF AN ASSES SEE, THE DISPUTED ISSUES ARISE IN MORE THAN ONE ASSESSMENT Y EAR, APPEAL CAN BE FILED IN RESPECT OF SUCH ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IN RESPECT OF THE DISPUTED ISSUES EX CEEDS THE MONETARY LIMIT. NO APPEAL SHALL BE FILED IN RESPECT OF AN ITA NO. 5386/MUM/2018 & C.O. 189/MUM/2019 ACIT VS KENIYA SHIRISH LAKHAMSHI (HUF) 3 ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MONETARY LIMIT. FURTHER, EVEN IN THE CASE OF COMPOSITE ORDER OF ANY HIGH COURT OR APPELLATE AUTHORITY WHICH INVOLVES MORE THAN ONE AS SESSMENT YEAR AND COMMON ISSUES IN MORE THAN ONE ASSESSMENT YEAR, NO APPEAL SHALL BE FILED IN RESPECT OF AN ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MONETARY LIMIT. IN CASE WHERE A COMPOSITE ORDER/ JUDGMENT INVOLVES MORE THAN ONE ASSESSEE, EACH ASSESSEE SHALL BE DEALT WITH SEP ARATELY. 4. SINCE THE TAX EFFECT IS LESS THAN RS. 50.00 LACS , THE APPEAL OF THE REVENUE DESERVES TO BE DISMISSED. BEFORE PARTING WI TH THE MATTER, IT IS MADE CLEAR THAT THE DEPARTMENT IS AT LIBERTY TO FIL E MISC. APPLICATION, IF THE TAX EFFECT IS FOUND TO BE MORE THAN RS. 50.00 L ACS OR THE CASE FALLS IN ANY OF THE EXCEPTIONS OF THE CIRCULAR. 5. NOW WE TAKE ASSESSEES CROSS OBJECTION. RIVAL CONTENTIONS HAVE BEEN HEARD AND RECORD PERUS ED. FROM THE RECORD WE FOUND THAT THE APPEAL OF THE REVENUE IS D ISMISSED BEING LOW TAX EFFECT ACCORDING TO CBDT CIRCULAR NO. 17 OF 201 9 DATED 08.08.2019, THEREFORE, THE C.O. OF THE ASSESSEE WHICH IS IN SUP PORT OF THE LD. CIT(A)S ORDER HAS BECOME INFRUCTUOUS. 6. IN THE RESULT, APPEAL OF THE REVENUE AS WELL AS C.O. OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON SEPTEMBER , 2019. SD/- (PAWAN SINGH) SD/- (R.C.SHARMA) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI; DATED 06/09/2019 ITA NO. 5386/MUM/2018 & C.O. 189/MUM/2019 ACIT VS KENIYA SHIRISH LAKHAMSHI (HUF) 4 *RANJAN COPY OF THE ORDER FORWARDED TO : BY ORDER, (ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//