INCOME TAX OFFICER-32(2)(3), Mumbai V. SHRI MANOJ CHANDUBHAI PARMAR, Mumbai

ITA 1396/MUM/2018

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 5040 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 07-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K BEPARIDR
• Keywords: Tax effect
• Section: 69C

Judgement Text

, - , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES SMC, MUMBAI , ! ' , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, ITA NO.1396/MUM/2018 ASSESSMENT YEAR:2009-10 INCOME TAX OFFICER-32(2)(3), ROOM NO.305, 3 RD FLOOR, C- 11, PRATYAKSHAKAR BHAVAN, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI-400051 / VS. SHRI MANOJ CHANDUBHAI PARMAR, (PROP. M/S HIRISH INDUSTRIES), RISHIKESH, BEHIND ANAND NAGAR, LINK ROAD , DAHISAR -E, MUMBAI-400068 / REVENUE / ASSESSEE P.A. NO . AACPP5592J $ % & / REVENUE BY SHRI S.K. BEPARI-DR $ % & / ASSESSEE BY SHRI PARESH SHAPARIA / DATE OF HEARING 10/10/2018 & / DATE OF ORDER: 10/10/2018 & / O R D E R THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DAT ED 28/12/2017 OF THE LD. FIRST APPELLATE AUTHORITY, MU MBAI, CHALLENGING THE ADDITION MADE @ 12.5% UNDER SECTION 69C ITA NO.1452/MUM/2018 KADY MERCANTILE PVT. LTD. 2 OF THE INCOME TAX ACT, 1961 (HEREINAFTER THE ACT) A ND CONSEQUENT ADDITION OF RS.30,94,552/- MADE BY THE L D. ASSESSING OFFICER. 2. DURING HEARING OF THIS APPEAL, AT THE OUTSET, S HRI PARESH SHAPARIA, LD. COUNSEL FOR THE ASSESSEE, POIN TED OUT THAT THE TAX EFFECT IN THE PRESENT APPEAL, FILED BY THE REVENUE, IS RS.10,38,506/- WHICH IS BELOW PRESCRIBE D MONETARY LIMIT OF RS.20 LAKH. THE LD. DR, SHRI S. K . BEPARI, DID NOT CONTROVERT THE FACTUAL MATRIX. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD . IN VIEW OF THE ABOVE, IT IS NOTED THAT THE TAX EFFECT IN THE PRESE NT APPEAL IS BELOW PRESCRIBED LIMIT OF RS.20 LAKH, VIDE INSTRUCTION/CIRCULAR NO.3 OF 2018, ISSUED BY CBDT ( F NO.279/MISC./142/ 2007-ITJ(PT) DATED 11/07/2018. A S PER THE CIRCULAR, WHEREIN, THE DEPARTMENT WAS ADVISED/DIRECTED BY THE BOARD NOT TO FILE APPEAL I N THE CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE FOLLOWING MONETARY LIMIT.:- ITA NO.1452/MUM/2018 KADY MERCANTILE PVT. LTD. 3 SL. NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS.) 1. BEFORE ITAT 20,00,000/ - 2. U/S 260 A BEFORE H ONBLE HIGH COURT 50,00,000/ - 3. BEFORE HONBLE SUPREME COURT 1,00,00,000/ - IN VIEW OF THE ABOVE INSTRUCTION, SINCE, THE TAX EF FECT IS LESS THAN RS.20,00,000/- (NOT CONTROVERTED BY LD. D R ALSO), CONSEQUENTLY, THE APPEAL OF THE REVENUE IS NOT MAIN TAINABLE, THEREFORE, DISMISSED. FINALLY, THE APPEAL OF THE REVENUE IS DISMISSED. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF LD. REPRESENTATIVES FROM BOTH SIDES AT THE CONCLUSION OF THE HEARING ON 10/10/2018. SD/- (JOGIND ER SINGH) ! ' / JUDICIAL MEMBER MUMBAI; DATED : 10/10/2018 F{X~{T? P.S / ! & $ )!*+ ,&+-* / COPY OF THE ORDER FORWARDED TO : 1. '#$%& / THE APPELLANT 2. '(%& / THE RESPONDENT. 3. ) ) * ( '#$ ) / THE CIT, MUMBAI. 4. ) ) * / CIT(A)- , MUMBAI 5. -./ ' , ) '#$ ' 1 , / DR, ITAT, MUMBAI ITA NO.1452/MUM/2018 KADY MERCANTILE PVT. LTD. 4 6. /2 3$ / GUARD FILE. & / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI