SHRUTI ART PVT. LTD., MUMBAI V. DCIT- CC- 2(4), MUMBAI

CO 341/MUM/2018

• Counselvise Citation: [2021] 104 COUNSELVISE.COM (IT) 8763 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 11 month(s) 15 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 10-11-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2005-2006
• Appeal Filed On: 25-11-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “E” BENCH, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER C.O.NOs. 340, 341, 342 & 344/MUM/2018 [ARISING OUT OF ITA.NOs. 2644,2645, 2646 & 2648/MUM/2016 (A.Ys. 2004-05, 2005-06, 2006-07 & 2008-09)] M/s. Shruti Art Pvt. Ltd., 26/A, New Surya Kiran CHS Huges Road, Mumbai – 400026 PAN: AAFPS1984E v. DCIT – Central Circle – 2(4) Old CGO Building, 8 th Floor M.K. Road, Mumbai - 400020 (Appellant) (Respondent) Assessee by : None Department by : Shri Prabhat Kumar Gupta Date of Hearing : 11.11.2021 Date of Pronouncement : 11.11.2021 O R D E R PER C.N. PRASAD (JM) 1. All these cross objections are filed by the assessee in the appeals filed by the Revenue in ITA.Nos. 2644,2645, 2646 & 2648/MUM/2016 for the Assessment Years 2004-05, 2005-06, 2006-07 & 2008-09. 2 C.O.NOs. 340, 341, 342 & 344/MUM/2018 M/s. Shruti Art Pvt. Ltd., 2. Inspite of issue of several notices none appeared on behalf of the assessee. Thus, we dispose off these cross objections on hearing the Ld.DR. 3. We observe from the record that the revenue’s appeals in ITA.Nos. 2644,2645, 2646 & 2648/MUM/2016 were dismissed by order dated 07.11.2019 in view of the CBDT Circular dated 08.08.2019 wherein the revenue has been directed to withdraw the appeals preferred by it before the Tribunal if the tax effect on the disputed issue is less than ₹.50 Lakhs. Since the revenue appeals were dismissed for low tax effect the cross objections filed by the assessee would be of only academic and accordingly these cross objections are dismissed as infructuous. 4. In the result, cross objections filed by the assessee are dismissed. Order pronounced in the virtual court on 11.11.2021. Sd/- Sd/- (S. RIFAUR RAHMAN) (C.N. PRASAD) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai / Dated 11.11.2021 Giridhar, Sr.PS 3 C.O.NOs. 340, 341, 342 & 344/MUM/2018 M/s. Shruti Art Pvt. Ltd., Copy of the Order forwarded to: 1. The Assessee 2. The Respondent. 3. The CIT(A), Mumbai. 4. CIT 5. DR, ITAT, Mumbai 6. Guard file. //True Copy// BY ORDER (Asstt. Registrar) ITAT, Mum