DCIT CENTRAL CIRCLE-2(1), Mumbai V. MIRAH DEKOR PVT. LTD, Mumbai

ITA 163/MUM/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 3672 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 1 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2012-2013
• Appeal Filed On: 11-01-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AJITKUMAR SRIVASTAVA
• Assessee Lawyers: KISHOR DEWANI
• Keywords: Tax effect

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI SHRI SHAMIM YAHYA (AM) & SHRI AMARJIT SINGH (JM) I.T.A. NO. 163/MUM/2019 (ASSESSMENT YEAR 2012-13) DCIT, CC-2(1) ROOM NO. 804 8 TH FLOOR OLD CGO ANNEXE M.K. ROAD MUMBAI-400 020. VS. M/S. MIRAH DEKOR PVT. LTD. 208, PARVATI INDUSTRIAL ESTATE, SUN MILL COMPOUND LOWER PAREL, MUMBAI 400 013. PAN : AABCM4262A (APPELLANT) (RESPONDENT) ASSESSEE BY SHRI KISHOR DEWANI DEPARTMENT BY SHRI AJIT KUMAR SRIVASTAVA DATE OF HEARING 03 .03.2021 DATE OF PRONOUNCEMENT 04.03.2021 O R D E R PER SHAMIM YAHYA (AM) :- THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST ORDE R OF LEARNED COMMISSIONER OF INCOME TAX (APPEALS) [IN SHORT LEAR NED CIT(A)] DATED 15.10.2018 AND PERTAINS TO ASSESSMENT YEAR 2012-13. 2. THE GROUNDS OF APPEAL READ AS UNDER :- 1. WHETHER ON FACTS & IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) WAS JUSTIFIED IN DIRECTING THAT THE LOSSES OF THE ELIGIBLE UNIT FOR THE PREVIOUS YEAR THOUGH SET OFF IN THAT YEAR AGAINST INCOM E NEED NOT BE ADJUSTED BEFORE ALLOWING DEDUCTION U/S 801 A(5) OF RS. 1,49,92,4857-, WHICH IS AGAINST THE DECISION OF SPECIAL BENCH OF AH MEDABAD TRIBUNAL IN THE CASE OF ACIT VS. GOLD MINES SHARES & FINANCE 116 TTJ (AHD.) SB 705? 2. WHETHER ON THE FACTS AND CIRCUMSTANCES OF THE CAS E, THE LD CIT(A) WAS JUSTIFIED IN GIVING RELIEF TO THE ASSESSEE ON RELYING ON THE JUDGEMENT IN THE CASE OF HERCULES HOIST LIMITED,[386 ITR 698] WHER EIN THE ISSUE IN CASE UNDER CONSIDERATION WAS NOT DWELT UPON? 3. AT THE OUTSET LEARNED COUNSEL OF THE ASSESSEE SU BMITTED THAT THE TAX EFFECT IN THIS CASE IS BELOW THE LIMIT OF RS. 50,00 ,000/- FIXED BY CBDT VIDE M/S. MIRAH DEKOR PVT. LTD. 2 CIRCULAR NO. 17/2019 DATED 8/8 2019 FOR FILING APPE AL BEFORE THE ITAT. HENCE THIS APPEAL BY THE REVENUE IS NOT MAINTAINABLE. 4. LEARNED DEPARTMENTAL REPRESENTATIVE COULD NOT DI SPUTE THAT THE TAX EFFECT IS BELOW THE SAID LIMIT. HE COULD NOT POINT OUT THAT THE APPEAL FALLS IN ANY OF THE EXCEPTIONS CARVED IN SAID CIRCULAR. 5. UPON CAREFUL CONSIDERATION WE FIND THAT AS THE T AX EFFECT IS BELOW THE LIMIT FIXED BY CBDT FOR FILING APPEALS BEFORE THE I TAT, THIS APPEAL BY THE REVENUE IS LIABLE TO BE DISMISSED IN LIMINE. 6. ACCORDINGLY THE APPEAL STANDS DISMISSED AS SUCH. PRONOUNCED IN THE OPEN COURT ON 4.3.2021. SD/- SD/- (AMARJIT SINGH) (SHAMIM YAHYA) JUDICIAL MEMBER ACCOUN TANT MEMBER MUMBAI; DATED : 04/03/2021 COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// ( ASSISTANT REGISTRAR) PS ITAT, MUMBAI