ITO 9(2)2, MUMBAI V. LAXMIKANTA Y KALEKAR, MUMBAI

ITA 1777/MUM/2013

• Counselvise Citation: [2015] 121 COUNSELVISE.COM (IT) 0776 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 2 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-06-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 04-06-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 05-03-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASGHAR ZAIN
• Keywords: Deemed dividend; Tax effect

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES A MUMBAI . . , , BEFORE SHRI I.P. BANSAL, JUDICIAL MEMBER AND SHRI RAJENDRA, ACCOUNTANT MEMBER . / ITA NO.1777/MUM/2013 / ASSESSMENT YEAR 2009-10 THE ITO 9(2)(2), ROOM NO.225, AAYKAR BHAVAN, MK ROAD, MUMBAI 400020 / VS. SMT. LAXMIKANTA Y. KALEKAR, 1-C BINDIYA, PLOT NO.20, K.C.MARG, BANDRA (W), MUMBAI 400 050 ./ ./ PAN/GIR NO. : AACPK 1384R ( / APPELLANT ) .. ( / RESPONDENT ) APPELLANT BY SHRI ASGHAR ZAIN RESPONDENT BY NONE ! ' / DATE OF HEARING : 04/06/2015 ! ' / DATE OF PRONOUNCEMENT : 04/06/2015 / O R D E R PER I.P.BANSAL, J.M: THIS IS AN APPEAL FILED BY THE REVENUE AND IT IS D IRECTED AGAINST ORDER PASSED BY LD. CIT(A)-20, MUMBAI DATED 17/12/2012 FOR THE ASSESSMENT YEAR 2009-10. GROUNDS OF APPEAL READ AS UNDER: 1. WHETHER ON FACTS AND CIRCUMSTANCES OF THE CASE A ND IN LAW, LD. CIT(A)-20, MUMBAI ERRED IN DELETING THE ADDITION MADE ON ACCOUNT OF D EEMED DIVIDEND U/S 2(22) (E) OF THE ACT. 2. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES O F THE CASE AND IN LAW, THE LD. CIT(A)-20.MUMBAI WAS RIGHT IN DELETING THE ADDITION MADE BY THE ASSESSING OFFICER ON ACCOUNT OF DEEMED DIVIDEND OF RS, 17,68,8731- BY NO T CONSIDERING THE EVIDENCES BROUGHT ON RECORD VIDE THE ASSESSING OFFICER'S REMA ND REPORT DATED 05.07.2012 . / ITA NO.1777/MUM/2013 / ASSESSMENT YEAR 2009-10 2 2. NOTICE OF HEARING WAS SENT TO ASSESSEE. HOWEVER , NONE WAS PRESENT ON BEHALF OF THE ASSESSEE. IT WAS SUBMITTED BY LD. DR THAT FIGURES OF RS.17,68,873/- AS MENTIONED IN THE GROUNDS OF APPE AL IS EMERGING OUT OF REMAND REPORT SUBMITTED BY AO DURING THE COURSE OF FIRST APPELLATE PROCEEDINGS, HOWEVER, THE AMOUNT DELETED BY LD. CIT (A) IS ONLY A SUM OF RS.6,61,302/-. 3. WE HAVE CAREFULLY GONE THROUGH THE ABOVE SUBMISS IONS OF LD. DR. THE ADDITION MADE BY THE AO UNDER SECTION 2(22)(E) IS L IMITED ONLY TO A SUM OF RS. 6,61,303/-, WHICH IS DELETED BY LD. CIT(A). THEREF ORE, TAX EFFECT IN THE PRESENT APPEAL IS MUCH LESS THAN RS.3.00 LACS. ACCORDING TO CBDT INSTRUCTION NO35/2011(F.NO.279/MISC.142/2007-ITJ ] DATED 09/02 /2011 THE TAX EFFECT LIMIT FOR FILING THE APPEAL BEFORE THE TRIBUNAL IS RS.3.00 LACS. AND THE PRESENT APPEAL IS FILED ON 5/03/2013. 4. IN THIS VIEW OF THE SITUATION, WE DISMISS THE APPEAL FILED BY THE REVENUE ON ACCOUNT OF LOW TAX EFFECT AS PER AFOREMENTIONED INSTRUCTION ISSUED BY CBDT. ORDER PRONOUNCED IN THE OPEN COURT ON 04/06/2015 () * + 04/06/2015 SD/- SD/- ( , / RAJENDRA) ( . . / I.P. BANSAL) / ACCOUNTANT MEMBER / JUDICIAL MEMBER ( MUMBAI; * DATED 04/06/2015 . / ITA NO.1777/MUM/2013 / ASSESSMENT YEAR 2009-10 3 ! / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. .! ( ) / THE CIT(A)- 4. .! / CIT 5. /0 !12 , ' 12 , ( / DR, ITAT, MUMBAI 6. 3 / GUARD FILE. / BY ORDER, /! ! //TRUE COPY// / (DY./ASSTT. REGISTRAR) , ( / ITAT, MUMBAI . . ./ VM , SR. PS