ITO (IT) 3(1), MUMBAI V. LALIT KESHAVJI JESRANI, MUMBAI

ITA 1103/MUM/2014

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 3935 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 23-02-2016
• Assessment Year: 2005-2006
• Appeal Filed On: 18-02-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Retrospective amendment; Tax effect

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI , , BEFORE SHRI AMIT SHUKLA , JM AND SHRI RAJESH KUMAR , AM ./ I.T.A. NO. 1103 /MUM / 201 4 ( / ASSESSMENT YEAR : 200 5 - 06 ) INCOME TAX OFFICER (INTERNATIONAL TAXATION) - 3 (1), 1 14 , 1 ST FLOOR, SCINDIA HOUSE, BALLARD PIER, MUMBAI - 400038 / VS. SHRI LALIT KESHAVJI JESRANI, C/O VALIA AND TIMBADI A, 117, BORA BAZAR STREET, 32, TRINITY CHAMBER, FORT, MUMBAI - 400001 ./ PAN : AFTPJ4992A ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI DARSI SUMAN RATNAM / RESPON DENT BY : NONE / DATE OF HEARING : 23.2. 2016 / DATE OF PRONOUNCEMENT : 23.2. 2016 / O R D E R PER RAJESH KUMAR , AM : THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER DATED 24.09.2013 PASSED BY THE LD.CIT(A) - 10 , MUMBAI AND IT RELATES TO THE ASSESSMENT YEAR 200 5 - 06 . 2. AT THE TIME OF HEARING, NONE APPEARED ON BEHALF OF THE ASSESSEE; THEREFORE, WE PROCEED TO DECIDE THIS APPEAL EX - PARTE, WITHOUT THE PRESENCE OF ASSESSEE. ITA NO. 1103 / MUM/20 1 4 2 3. WE HEARD THE LD. DR AND PERUSED THE RECORD. THE ASSESSEE IS A 68 YEAR OLD PERSON AND A CITIZEN OF SULTANATE OF OMAN. HE IS A NRI AND HAS SETTLED IN OMAN SINCE MORE THAN 50 YEARS. THE ASSESSEE DID NOT F ILE RETURN OF INCOME FOR THE YEAR UNDER CONSIDERATI ON . TH EREFORE, THE AO REOPENED THE ASSESSMENT AND MADE AN ASSESSMENT OF THE ASSESSEE AT RS.13,50,000 / - . IN THE APPELLATE PROCEEDINGS, THE LD.CIT(A) DELETED THE ADDITION. THEREFORE, THE REVENUE HAS FILED THIS APPEAL BEFORE US. 4 . WE FIND THAT THE QUANTUM IN DISPUTE IS RS. 13,50,000 LAKHS AND THE TAX EFFECT INVOLVED THEREIN IS LESS THAN RS.10 LAKHS. IN VIEW OF THE CIRCULAR ISSUED BY CBDT BEARING NO.21/2015 DATED 10.12.2015 PRESCRIBING NEW MONETARY LIMIT OF RS.10.00 LAKHS FOR PREFERRING APPEAL AGAINST THE OR DERS PASSED BY LD CIT(A) BEFORE THE TRIBUNAL, THE REVENUE IS PRECLUDED FROM PURSUING THIS APPEAL BY THE REVENUE , AS THE SAID CIRCULAR HAS RETROSPECTIVE EFFECT AND IS APPLICABLE TO THE EXISTING APPEALS OF REVENUE. ACCORDINGLY, WE DISMISS THE SAME. 5 . I N THE RESULT THE APPEAL OF THE REVENUE STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 23 RD FEB, 2016 . 23 RD FEB, 2016 SD SD ( AMIT SHUKLA ) ( RAJESH KUMAR ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED 23 /02/2016 . . ./ SRL , SR. PS ITA NO. 1103 / MUM/20 1 4 3 / COPY OF THE ORDER FO RWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE . / BY ORDER, TRUE COPY / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI