DCIT 25(1), MUMBAI V. PIYUSH S. MATALIA, MUMBAI

ITA 169/MUM/2014

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 3481 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 2 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-03-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 22-03-2016
• Assessment Year: 2004-2005
• Appeal Filed On: 07-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR S PANDIAN
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3); 147

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI , , BEFORE HONBLE S/SHRI SANJAY GARG, JM AND SHRI RAJESH KUMA R , AM ./ I.T.A. NO. 169 /MUM/201 4 ( / ASSESSMENT YEAR S : 20 0 4 - 05 ) DY. COMMISSIONER OF INCOME TAX 25(1), ROOM NO.202, 2 ND FL. PRATYAKSHA KAR BHAVAN, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051 / VS. SHRI PIYUSH S M ATALIA, B - 201, NEW STERLING CHS LTD, CROSS ROAD B/H ANAND NAGAR DAHISAR (E), MUMBAI - 400068 ./ PAN : AFAPM4590C ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : DR.S PANDIAN / RESPONDENT BY : NONE / DATE OF HEARING : 22 .3. 2016 / DATE OF PRONOUNCEMENT : 22. 3 . 2016 / O R D E R PER RAJESH KUMAR , AM : THIS IS AN APPEAL FILED BY THE REVENUE AGAIN ST THE ORDER DATED 23.10.2013 PASSED BY THE LD.CIT(A) - 35 , MUMBAI AND IT RELATES TO THE ASSESSMENT YEAR 200 4 - 05 . 2. AT THE TIME OF HEARING, NONE APPEARED ON BEHALF OF THE ASSESSEE; THEREFORE, WE PROCEED TO DECIDE THIS APPEAL EX - PARTE, WITHOUT THE PRESENCE OF ASSESSEE. ITA NO. 169 / MUM/20 1 4 2 3. THE RETURN OF INCOME WAS FILED BY THE ASSESSEE ON 22.7.2004 DECLARING A TOTAL INCOME AT RS.1,05,620/ - . THE ASSESSMENT WAS MADE BY THE AO U/S 143(3) READ WITH SECTION 147 OF THE ACT ASSESSING THE TOTAL INCOME AT RS.10,54,580 . AGGRIEVED BY THE ORDER OF AO, THE ASSESSEE PREFERRED AN APPEAL BEFORE THE FIRST APPELLATE AUTHORITY , WHO DELETED THE ADDITION OF RS.9,48,964/ - . AGGRIEVED BY THE DECISION OF THE LD.CIT(A), THE REVENUE IS IN APPEAL BEFORE US. 4. WE HAVE HEARD THE LD. DR AND PERUSE D THE MATERIAL ON RECORD. WE FIND THAT THE QUANTUM IN DISPUTE IS RS. 9,48,964/ - LAKHS AND THE TAX EFFECT INVOLVED THEREIN IS LESS THAN RS.10 LAKHS. IN VIEW OF THE CIRCULAR ISSUED BY CBDT BEARING NO.21/2015 DATED 10.12.2015 PRESCRIBING NEW MONETARY LIMIT OF RS.10.00 LAKHS FOR PREFERRING APPEAL AGAINST THE ORDERS PASSED BY LD CIT(A) BEFORE THE TRIBUNAL, THE REVENUE IS PRECLUDED FROM PURSUING THIS APPEAL , AS THE SAID CIRCULAR HAS RETROSPECTIVE EFFECT AND IS APPLICABLE TO THE EXISTING APPEALS ALSO . ACCORDI NGLY, WE DISMISS THE APPEAL OF THE REVENUE. 5. IN THE RESULT, THE APPEAL OF TH E REVENUE IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND MARCH ,2016. 22 ND MARCH , 2016 SD SD ( / SANJAY GARG) ( / RAJESH KUMAR ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED 22 /03 /2016 . . ./ SRL , SR. PS ITA NO. 169 / MUM/20 1 4 3 / COPY OF THE ORDE R 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