DCIT CEN CIR 7(3), MUMBAI V. ACG PAM MACHINES P.LTD, MUMBAI

ITA 1479/MUM/2017

• Counselvise Citation: [2018] 122 COUNSELVISE.COM (IT) 4028 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2008-2009
• Appeal Filed On: 02-03-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: HARKAMOL SOHI
• Assessee Lawyers: NIYANTA MEHTA
• Keywords: Tax effect
• Section: 147; 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH A , MUMBAI BEFORE SHRI C.N. PRASAD , HONBLE JUDICIAL MEMBER AND SHRI RAJESH KUMAR , HONBLE ACCOUNTANT MEMBER ITA NO. 1479 /MUM/201 7 (A.Y: 2008 - 09 ) D CIT CENTRAL CIRCLE 7(3) R.NO. 655 , 6 TH FLOOR AAYAKAR BHAVAN, M.K. ROAD, MUMBAI - 400 020 V. M/S. ACG PAM PAC MACHINES PVT. LTD., 1001, DALAMAL HOUSE, 10 TH FLOOR, NARIMAN POINT PAN NO: AAACP 4134 F (APPELLANT) (RESPONDENT) DEPARTMENT BY : SHRI HARKAMOL SOHI ASSESSEE BY : MS. NIYANTA MEHTA DATE OF HEARING : 09.10.2018 DATE OF PRONOUNCEMENT : 09.10.2018 O R D E R PER C.N. PRASAD , JUDICIAL MEMBER THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 49 , MUMBAI IN APPEAL NO. CIT(A) - 49/IT - 289/2015 - 16 DATED 30.12.2016 FOR THE ASSESSMENT YEAR 2008 - 09 . 2. THE REVENUE HAS RAISED THE FOLLOWING GROUNDS IN ITS APPEAL: - 1. WHETHER ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD.CIT(A) ERRED IN QUASHING THE NOTICE U/S.148 BY NOT APPRECIATING THAT EXPLANATION 1 TO THE PROVISO OF SECTION 147 CLEARLY STATES THAT PRODUCTION OF MATERIAL FROM WHICH MATERIAL EVIDENCE COULD BE WITH DUE DILIGENCE HAVE BEEN DISCOVERED BY THE ASSESSING OFFICER WILL NOT NECESSARILY AMOUNT TO DISCLOSURE . 2 ITA NO. 1479/MUM/2017 (A.Y:2008 - 09) M/S. ACG PAM PAC MACHINES PVT. LTD., 2. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD.CJT(A) ERRED IN QUASHING THE NOTICE U/S.148 BY NOT APPRECIATING THAT EVEN OUT OF MATERIALS WHICH ARE ALREADY AVAILABLE ON RECORD, IF SUBSEQUENTLY OFFICER FINDS REASON TO BELI EVE THAT THERE HAS BEEN ESCAPEMENT OF ASSESSMENT, SURELY HE CAN ISSUE A NOTICE UNDER SECTION 148 AND SUCH COURSE WILL NOT AMOUNT TO REVIEWING EARLIER ASSESSMENT AS HELD BY THE HON'BLE MADRAS HIGH COURT IN THE CASE OF SRI SAKTHI TEXTILES LTD. VS. JT.CIT(201 2) 340 ITR 144(MAD.)' 3. AT THE TIME OF HEARING, AUTHORIZED REPRESENTATIVE OF THE ASSESSEE SUBMITTED THAT TAX EFFECT ON THE ISSUE IN THE PRESENT APPEAL IS BELOW 2 0 LAC S AND IN VIEW OF THE CBDT CIRCULAR N O . 3/2018 DATED 11/07 /201 8 IN F.NO.279/MISC.142/2007 - ITJ (PT) , THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE. 4. DEPARTMENTAL REPRESENTATIVE ALSO AGREED WITH THE ABOVE SUBMISSION OF THE AUTHORIZED REPRESENTATIVE OF THE ASSESSEE. THEREFORE, WE DI SMISS THE APPEAL OF THE REVENUE ON ACCO UNT OF LOW TAX EFFECT . 5. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE COURT AT THE CLOSE OF THE HEARING ON TUESDAY , THE 09 TH DAY OF OCTOBER , 201 8 . SD/ - SD/ - ( RAJESH KUMAR ) (C.N. PRASAD) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI / DATED 09/10 / 2018 GIRIDHAR, SR.PS COPY TO: 1. THE ASSESS E E. 2. THE REVENUE. 3. THE CIT 4. THE CIT(A) 5. THE D.R . 6. GUARD FILE. BY ORDER ASSISTANT REGISTRAR I.T.A.T., MUMBAI