ACIT CEN CIR 1(2), MUMBAI V. TOUCHSTONE, MUMBAI

ITA 1083/MUM/2016

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 8698 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 6 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-09-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2011-2012
• Appeal Filed On: 03-03-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 143(3); 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL E , BENCH MUMBAI B EFORE SHRI M.BALAGANESH, AM & SHRI RAVISH SOOD , JM ITA NO. 1083 /MUM/ 2016 ( ASSESSMENT YEAR : 2011 - 12 ) ACIT, CENTRAL CIRCLE 1(2) ROOM NO.906, PRATISTHA BHAVAN, 10 TH FLOOR OLD CGO BUILDING ANN EXE MUMBAI - 400 020 VS. M/S. TOUCHSTONE 801 - 802, PRASAD CHAMBERS, OPERA HOUSE MUMBAI 400 004 PAN/GIR NO. AAAFT2913K (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI RITESH MISHRA ASSESSEE B Y NONE DATE OF HEARING 11 / 09 /2019 DATE OF PRONOUNCEMENT 11 / 09 /2019 / O R D E R PER M. BALAGANESH (A.M) : THIS APPEAL IN ITA NO. 1083/MUM/2016 FOR A.Y . 2011 - 12 ARISE S OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 47 , MUMBAI IN APPEAL NO. CIT(A) - 36/AP - 217/14 - 15 DATED 30/12/2015 (LD. CIT(A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S. 143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 30/03/2014 BY THE ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 2, MUMBAI (HEREINAFTER REFERRED TO AS LD. AO). ITA NO. 1083/MUM/2016 M/S. TOUCHSTONE 2 2. BOTH THE PARTIES BEFORE US MUTUALLY AGREED THAT TH IS REVENUE APPEAL IS TO BE DISMISSED AS NOT MAINTAINABLE IN VIEW OF THE RECENT CIRCULAR ISSUED BY THE CBDT DATED 08/08/2019 WHEREIN THE REVENUE HAS BEEN DIRECTED TO WITHDRAW THE APPEAL PREFERRED BY IT BE FORE THE TRIBUNAL IF THE TAX EFFECT ON THE DISPUTED ISSUES IS LESS THAN OR EQUAL TO RS.50,00,000/ - . IT IS WELL SETTLED THAT THIS CIRCULAR IS BINDING ON THE REVENUE AUTHORITIES. 3. RESPECTFULLY FOLLOWIN G THE SAID CIRCULAR, THE APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. 4. INCASE, IF THE REVENUE IS ABLE TO PROVIDE EVIDENCE THAT THE CASE FALLS UNDER ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCULAR ISSUED BY THE CBDT, THEN THE REVENUE MAY PREFER MISCELLANEOUS APPLICATION FOR RECALLING OF THIS O RDER, IF THEY SO DESIRE, IN WHICH CIRCUMSTANCE THIS ORDER SHALL BE RECALLED BY THIS TRIBUNAL. 5 . IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 11 / 09/ 201 9 SD/ - ( RAVISH SOOD ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 11 / 09 / 2019 ITA NO. 1083/MUM/2016 M/S. TOUCHSTONE 3 KARUNA , SR.PS 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//