DCIT-7(2)(2), MUMBAI V. M/S NEXT GEN PUBLISHING LTD., MUMBAI

ITA 1659/MUM/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 7582 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 10 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-01-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 19-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: THARIAN OOMMEN LD
• Assessee Lawyers: NITESH JOSHI LD
• Keywords: Tax effect

Judgement Text

ITA NO.1659/MUM/2019 M/S. NEXT GEN PUBLISHING LTD. ASSESSMENT YEAR: 2010-11 1 IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI , , BEFORE HONBLE SHRI MAHAVIR SINGH, VP AND HONBLE SHRI MANOJ KUMAR AGGARWAL, AM (HEARING THROUGH VIDEO CONFERENCING MODE) ./ I.T.A. NO.1659/MUM/2019 ( / ASSESSMENT YEAR: 2010-11) D CIT - 7(2)(2) ROOM NO.126B, 1 ST FLOOR AAYKAR BHAWAN, M.K. ROAD MUMBAI-400 020. / VS. M/S. NEXT GEN PUBLISHING LIMITED C-WING, 2 ND FLOOR, TRADE WORLD KAMLA MILLS COMPOUND SENAPATI BAPAT MARG, LOWER PAREL(W) MUMBAI-400 013. '# ./ ./PAN/GIR NO. AACCN-0447-M ( #% /APPELLANT ) : ( &'#% / RESPONDENT ) ASSESSEE BY : SHRI NITESH JOSHI-LD. AR REVENUE BY : SHRI THARIAN OOMMEN- LD. DR / DATE OF HEARING : 20/01/2021 / DATE OF PRONOUNCEMENT : 20/01/2021 / O R D E R MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. AFORESAID APPEAL BY REVENUE FOR ASSESSMENT YEAR 2010-11, CONTESTS THE ORDER OF LD. COMMISSIONER OF INCOME TA X (APPEALS) - 13, MUMBAI [CIT(A)], APPEAL NO.CIT(A)-13/DCIT-7(2)( 2)/158/2015- 16 DATED 25/10/2018 ON CERTAIN GROUNDS. 2. THE LD. COUNSEL FOR ASSESSEE, AT THE OUTSET, SUB MITTED THAT TAX EFFECT OF QUANTUM ADDITIONS UNDER DISPUTE BY RE VENUE IS BELOW PRESCRIBED THRESHOLD LIMIT OF RS.50 LACS AND THEREF ORE, THE ITA NO.1659/MUM/2019 M/S. NEXT GEN PUBLISHING LTD. ASSESSMENT YEAR: 2010-11 2 REVENUES APPEAL IS NOT MAINTAINABLE IN TERMS OF LA TEST LOW TAX EFFECT CBDT CIRCULAR NO. 17/2019 DATED 08/08/2019 [F.NO.279/MISC. 142/2007-TTJ(PT.) . IN SUPPORT, THE ORDER GIVING EFFECT TO APPELLATE ORDER HAS BEEN PLACED ON RECORD . THE LD. DR COULD NOT POINT OUT ANY EXCEPTION TO CONTROVERT THE PLEA RAISED BY LD. AR. 3. AFTER GOING THROUGH MATERIAL ON RECORD, WE FIND THAT THE TAX EFFECT OF QUANTUM ADDITIONS UNDER DISPUTE IS BELOW THRESHOLD MONETARY LIMIT OF RS.50 LACS AND THEREFORE, THE APP EAL IS NOT MAINTAINABLE IN TERMS OF RECENTLY ISSUED LOW TAX EF FECT CIRCULAR NO. 17/2019 DATED 08/08/2019 [F.NO.279/MISC. 142/2007-T TJ(PT.) ISSUED BY CBDT. THIS RECENT CIRCULAR FURTHER ENHANC ES THE MONETARY LIMIT FIXED IN EARLIER CIRCULAR NO.3 OF 20 18 DATED 11/07/2018 ISSUED BY CBDT AS AMENDED ON 20/08/2018. IN VIEW OF THE SAME, THE APPEAL IS NOT MAINTAINABLE. 4. AT THE SAME TIME, A LIBERTY IS GIVEN TO REVENUE TO SEEK RECALL OF THE APPEAL, IF AT A LATER STAGE, IT IS FOUND THA T THE MATTER IS COVERED BY ANY EXCEPTIONS PROVIDED IN ANY OF THE CI RCULAR OR IN CASE THE TAX EFFECT IN THE APPEAL EXCEEDS THE PRESCRIBED MONETARY LIMIT. 5. RESULTANTLY, THE APPEAL STANDS DISMISSED. ORDER PRONOUNCED ON 20 TH JANUARY, 2021. SD/- SD/- (MAHAVIR SINGH) (MANOJ KUMAR AGGARWAL) / VICE PRESIDENT / ACCOUNTANT MEMBER MUMBAI; DATED : 20/01/2021 SR.PS, JAISY VARGHESE ITA NO.1659/MUM/2019 M/S. NEXT GEN PUBLISHING LTD. ASSESSMENT YEAR: 2010-11 3 / COPY OF THE ORDER FORWARDED TO : 1. #% / THE APPELLANT 2. &'#% / THE RESPONDENT 3. ! !- ( ) / THE CIT(A) 4. ! !- / CIT CONCERNED 5. ./& ) 0 , ! 0 , / DR, ITAT, MUMBAI 6. /12 / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.