ACIT 17(3), MUMBAI V. REGAL SHOES, MUMBAI

ITA 1654/MUM/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 3484 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 11 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 09-11-2015
• Assessment Year: 2011-2012
• Appeal Filed On: 01-03-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B S BIST
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES D, MUMBAI BEFORE SHRI B.R.BASKARAN (AM) AND SHRI RAM LAL NEGI (JM) ITA NO. 1654 /MUM/2013 ASSESSMENT YEAR: 2011-12 THE ACIT17(3). ROOM NO. 604, 6 TH FLOOR, PIRAMAL CHAMBERS, PAREL, MUMBAI-400012. VS. M/S. REGAL SHOES, 5, DHARAM PALACE, HUGHES ROAD, MUMBAI- 400007. PAN- AAAFR2368E (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI. B.S.BIST RESPONDENT BY : NONE DATE OF HEARING: 29/02/2016 DATE OF PRONOUNCEMENT: 29/02/2016 O R D E R PER RAM LAL NEGI, JM THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST I MPUGNED ORDER DATED 17/12/2012 PASSED BY THE CIT(APPEALS)-29, MU MBAI FOR THE ASSESSMENT YEAR 2011-12, ON THE FOLLOWING GROUNDS:- 1. ON THE FACTS AND CIRCUMSTANCES AND IN LAW, THE L EARNED. CIT(A) IN DELETING THE PENALTY OF RS. 10,00,000/- U /S 221(1) WITHOUT TAKING INTO ACCOUNT THAT ASSESSEE HAD FAILE D TO PAY THE AMOUNT OF TAX ON THE BASIS OF RETURN AND WAS IN ACC ORDANCE WITH THE PROVISIONS OF SEC 140A(3) DEEMED TO BE AN ASSESSEE IN DEFAULT IN RESPECT OF UNPAID TAX . 2 ITA NO. 1654/MUM/2013 ASSESSMENT YEAR: 2011-12 2. ON THE FACTS AND CIRCUMSTANCES AND IN LAW, THE L D. CIT(A) HAS ERRED IN APPLYING THE RATIO OF DECISION IN THE CASE OF CIT VS. BHIKAJI RAMCHANDRA 183 ITR PAGE 478(BOM) WITHOUT APPRECIATING THE FACT THAT IN THE SAID CASE THE PEN ALTY WAS LEVIED ON NON-PAYMENT OF SELF ASSESSMENT TAX WHICH IS MUCH LATER STAGE ON THE FILLING OF RETURN OF INCOME. 2. AT THE OUTSET, THE LD. DR POINTED OUT THAT THE TAX INVOLVED IN THIS CASE DOES NOT EXCEED RS. 10,00,000/-. AS PER THE LA TEST CBDT CIRCULAR NO. 21 OF 2015, DATED 10 TH DECEMBER, 2015, NEW GUIDELINES OF MONETARY LIMIT FOR FILING OF APPEALS BY THE DEPARTMENT HAS B EEN ISSUED, WHEREBY THE TAX EFFECT FOR FILING OF APPEAL BEFORE THE ITAT HAS BEEN PRESCRIBED AS AMOUNT EXCEEDING RS. 10 LAKHS. IN THE SAID CIRCULAR , IT HAS BEEN SPECIFICALLY CLARIFIED THAT THE SAID INSTRUCTION WI LL APPLY RETROSPECTIVELY TO ALL THE PENDING APPEALS. ACCORDINGLY, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AND IS DISMISSED IN LIMINE . ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH FEBRUARY, 2016 SD/- SD/- (B.R.BASKARAN) (R AM LAL NEGI) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI; DATED: 29/02/2016 3 ITA NO. 1654/MUM/2013 ASSESSMENT YEAR: 2011-12 / 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// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI PRAMILA