DCIT 5(3), MUMBAI V. RAVI K SHETH, MUMBAI

ITA 1768/MUM/2014

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4486 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-01-2016
• Appeal Filed By: Department
• Bench Allotted: D
• Assessment Year: 2009-2010
• Appeal Filed On: 13-03-2014
• Court: TRIBUNAL
• Department Lawyers: SU JIT BANGAR
• Keywords: Tax effect
• Section: 2(14)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BEFORE SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER I.T.A. NO.1768/M/2014 (ASSESSMENT YEAR: 2009 - 2010 ) DCIT - 5(3), 573, AAYAKAR BHAVAN, 5 TH FLOOR, MUMBAI - 20. / VS. SHRI RAVI K. SHETH, 19 - B, MANEK, 11, L.K. RUPAREL MARG, NAPEANSEA ROAD, MUMBAI 400 006. ./ PAN : AAIPS7341E ( / APPELLANT) .. ( / RESPONDENT ) / APPELLANT BY : SHRI SUJIT BANGAR, DR / RESPONDENT BY : SHRI M.M. GOLVALA / DATE OF HEARING : 05.01.2016 / DATE OF PRONOUNCEMENT : 05.01.2016 / O R D E R PER D. KARUNAKARA RAO, AM: THIS APPEAL FILED BY THE REVENUE ON 13.3.2014 IS AGAINST THE ORDER OF THE CIT (A) - 38, MUMBAI DATED 20.01.2012 FOR THE ASSESSMENT YEAR 2009 - 2010. 2. AT THE OUTSET, LD COUNSEL FOR THE ASSESSEE BROUGHT OUR ATTENTION TO THE SOLITARY GROUND RAISED BY THE REVENUE, WHICH RELATES TO THE CIT (A)S DECISION IN DELETING THE ADDITION OF RS. 13,59,000/ - MADE UNDER THE PROVISIONS OF SECTION 2(14) OF THE ACT. IN TH IS REGARD, HE MENTIONED THAT THE TAX EFFECT IN THIS APPEAL IS BELOW RS. 10 LAKHS AND THEREFORE, THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE. IN SUPPORT OF HIS ARGUMENT, HE BROUGHT OUR ATTENTION TO THE RECENTLY ISSUED CBDT CIRCULAR NO.21/2015, DATED 10.1 2.2015 AND SUBMITTED THAT THE APPEALS FILED BY THE REVENUE WITH A TAX EFFECT OF RS. 10 LAKHS AND BELOW ARE TO BE EITHER DISMISSED BY THE TRIBUNAL AS NOT MAINTAINABLE OR NOT PRESSED BY THE REVENUE. REFERRING TO THE ABOVE MENTIONED BOARD CIRCULAR NO.21/2015 , LD COUNSEL FOR THE ASSESSEE BROUGHT OUR ATTENTION TO PARA 10 AND SUBMITTED THAT THE SAID MONETARY LIMITATION OF RS. 10 2 LAKHS APPLIES TO ALL THE APPEALS FILED BY THE REVENUE RETROSPECTIVELY. CONSIDERING THE SIGNIFICANCE OF THE SAID PARA 10 OF THE CBDT CI RCULAR (SUPRA) IS EXTRACTED AS UNDER: - 10. THIS I NSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO BE FILED HENCEFORTH IN HIGH COURTS / TRIBUNALS. PENDING APPEALS BELOW THE SPECIFIED TAX LIMITS IN PARA 3 ABOVE MAY BE WITHDRAWN / NOT PRESSED. APPEALS BEFORE THE SUPREME COURT WILL BE GOVERNED BY THE INSTRUCTIONS ON THIS SUBJECT OPERATIVE AT THE TIME WHEN SUCH APPEAL WAS FILED. 3. CONSIDERING THE ABOVE, THE APPEAL FILED BY THE REVENUE, WHEREIN THE TAX EFFECT IS BELOW THE ABOVE STATED TAX LIMIT OF RS. 10 LAKHS, IS DISMISSED AS NOT MAINTAINABLE. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 5 TH JANUARY, 2016. S D / - S D / - ( SANDEEP GOSAIN ) (D. KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; 5.1.2016 . . ./ OKK , SR. PS / 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 . //TRUE COPY// / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI