ACIT 14(2)(1), MUMBAI V. IDFC PROJECTS EQUITY CO.LTD, MUMBAI

ITA 167/MUM/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 3534 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-08-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: I
• Assessment Year: 2010-2011
• Appeal Filed On: 08-01-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PRAKASH PATHADE
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL I, BE NCH MUMBAI BEFORE SHRI D.KARUNAKARA RAO, AM & SHRI AMARJIT S INGH, JM ITA NO.167/MUM/2015 (ASSESSMENT YEAR : 2010-11) ACIT 14(2)(1), 432, AAYAKAR BHAVAN, 4 TH FLOOR, M.K.MARG, MUMBAI-400020. VS. M/S IDFC PROJECTS EQUITY CO. LTD. 3 RD FLOOR, NAMAN CHAMBERS, C- 32, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI-400051. PAN/GIR NO.: AABCI6398H ( APPELLANT ) .. ( RESPONDENT ) REVENUE BY : SHRI PRAKASH PATHADE (DR) ASSESSEE BY : SHRI HIRALI DESAI (AR) DATE OF HEARING : 17/08/2016 DATE OF PRONOUNCEMENT: 17/08/2016 O R D E R PER D.KARUNAKARA RAI, AM: THE ABOVE APPEAL IS FILED BY THE ASSESSING OFFICER (AO) RAISING TWO GROUNDS OF APPEAL FOR THE ASSESSMENT YEARS MENTIONED ABOVE. TH E TAX EFFECT INVOLVED IN THE ABOVE REFERRED CASE IS RS. 9,47,187/- WHICH IS BELOW THE MONETARY LIMIT (RS. 10,00,000/-) PRESCRIBED BY THE CENTRAL BOARD OF DIRECTOR TAXES(C BDT), VIDE ITS CIRCULAR NO.21/2015(F.NO.142/2007-ITJ (PT.) DATED 10 TH DECEMBER, 2015. 2. SHRI HIRALI DESAI APPEARED ON BEHALF OF THE ASSE SSEE. THE DEPARTMENTAL REPRESENTATIVE (DR) ON A QUERY BY THE BENCH FAIRLY CONCEDED THAT THE TAX EFFECT INVOLVED IN THE ABOVE CASE WAS LESS THAN RS. 10.00 LACS. CONSIDERING THESE FACTS, WE DISMISS THE APPEAL HOLDING THEM AS NOT MAINTAINABLE . 3. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 17/08/2016 . SD/- SD/- (AMARJIT SINGH) (D.KARUNAKARA RAO ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI; DATED : 17/08/2016 SK, PS COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A), MUMBAI. 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. ITA NO.167/M/15 2 / BY ORDER, / ( ASSTT. REGISTRAR) , / ITAT, MUMBAI //TRUE COPY/