DCIT CC-6(1), MUMBAI V. M/S.AMBER ESTATE, MUMBAI

ITA 1717/MUM/2018

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 5016 (ITAT-MUMBAI)
• Duration Of Justice: 6 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 16-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K BEPARIDR
• Keywords: Tax effect

Judgement Text

, - , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES SMC, MUMBAI , ! ' , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, ITA NO.1717/MUM/2018 ASSESSMENT YEAR: 2010-11 DCIT, CC-6(1), ROOM NO.1905, 19 TH FLOOR, AIR INDIA BUILDING, NARIMAN POINT, MUMBAI-400021 / VS. M/S AMBER ESTATE, GROUND FLOOR, ASHAT IT PARK, ROAD NO.16Z, WAGLE INDUSTRIAL ESTATE, NEAR AGRICULTURAL BUST STOP, THANE-400604 / REVENUE / ASSESSEE P.A. NO . AAPFA8349H $ % & / REVENUE BY SHRI S.K. BEPARI-DR $ % & / ASSESSEE BY SHRI RAHUL HAKANI / DATE OF HEARING 08/10/2018 & / DATE OF ORDER: 08/10/2018 ITA NO.1717/MUM/2018 M/S. AMBER ESTATE 2 & / O R D E R THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DATED 22/12/2017 OF THE LD. FIRST APPELLATE AUTHORI TY, MUMBAI, DELETING THE ADDITION OF RS.33 LAKHS ON ACC OUNT OF LOANS AND INTEREST OF RS.2,18,071/-. 2. DURING HEARING OF THIS APPEAL, AT THE OUTSET, SH RI RAHUL HAKANI, LD. COUNSEL FOR THE ASSESSEE, POINTED OUT THAT THE TAX EFFECT IN THE PRESENT APPEAL IS RS.10, 00,087/- FILED BY THE REVENUE, IS BELOW PRESCRIBED MONETARY LIMIT OF RS.20 LAKH. THE LD. DR, SHRI S. K. BEPARI, DID NOT CONTROVERT THE FACTUAL MATRIX. 2.1. I HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD . IN VIEW OF THE ABOVE, IT IS NOTED THAT THE TAX EFFECT IN THE PRESE NT APPEAL IS BELOW PRESCRIBED LIMIT OF RS.20 LAKH, VIDE INSTRUCTION/CIRCULAR NO.3 OF 2018, ISSUED BY CBDT ( F NO.279/MISC./142/ 2007-ITJ(PT) DATED 11/07/2018. A S PER THE CIRCULAR, WHEREIN, THE DEPARTMENT WAS ADVISED/DIRECTED BY THE BOARD NOT TO FILE APPEAL I N THE ITA NO.1717/MUM/2018 M/S. AMBER ESTATE 3 CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE FOLL OWING MONETARY LIMIT.:- SL . NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS.) 1. BEFORE ITAT 20,00,000/ - 2. U/S 260 A BEFORE HONBLE HIGH COURT 50,00,000/ - 3. BEFORE HONBLE SUPREME COURT 1,00,00,000/ - IN VIEW OF THE ABOVE INSTRUCTION, SINCE, THE TAX EF FECT IS LESS THAN RS.20,00,000/- (NOT CONTROVERTED BY LD . DR ALSO), CONSEQUENTLY, THE APPEAL OF THE REVENUE IS N OT MAINTAINABLE, THEREFORE, DISMISSED. FINALLY, THE APPEAL OF THE REVENUE IS DISMISSED. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF LD. REPRESENTATIVES FROM BOTH SIDES AT THE CONCLUSION OF THE HEARING ON 08/10/2018. SD/- (JOGINDER SINGH) ! ' / JUDICIAL MEMBER MUMBAI; DATED : 08/10/2018 F{X~{T? P.S / ! & $ )!*+ ,&+-* / COPY OF THE ORDER FORWARDED TO : 1. '#$%& / THE APPELLANT 2. '(%& / THE RESPONDENT. 3. ) ) * ( '#$ ) / THE CIT, MUMBAI. ITA NO.1717/MUM/2018 M/S. AMBER ESTATE 4 4. ) ) * / CIT(A)- , MUMBAI 5. -./ ' , ) '#$ ' 1 , / DR, ITAT, MUMBAI 6. /2 $ / GUARD FILE. & / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI