WYETH PHARMACEUTICALS INDIA P. LTD, MUMBAI V. DCIT 7(3), MUMBAI

ITA 1784/MUM/2014

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 7641 (ITAT-MUMBAI)
• Duration Of Justice: 6 year(s) 11 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-03-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: K
• Next Hearing Date: 30-04-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 14-03-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

1 I.T.A. NO.1784/MUM/2014 I.T.A. 1884/MUM/2014 I.T.A. 3126/MUM/2014 IN THE INCOME TAX APPELLATE TRIBUNAL J BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI RAJESH KUMAR (ACCOUNTANT MEMBER) I.T.A. NO. 1784 /MUM/201 4 - A SSESSMENT Y EAR 2009 - 10 I.T.A. NO.3126/MUM/2014 - A SSESSMENT Y EAR 2010 - 10 WYETH PHARMACEUTICALS INDIA PVT LTD (EARLIER KNOWN AS WYETH PHARMCEUTICALS INDIA LIMITED) LEVEL 6, PLATINA, PLOT NO.C - 59 G - BLOCK, BANDRA KURLA COMPLEX BANDRA (EAST), MUMBAI - 400 098 PAN : AAACW6225E VS THE DEPUTY COMMISSIONER OF INCOME - TAX, CIRCLE - 9(2), MUMBAI APPELLANT RESPONDENT I.T.A. NO.1884/MUM/2014 (ASSESSMENT YEAR 2009 - 10) THE DEPUTY COMMISSIONER OF INCOME - TAX, CIRCLE - 9(2), MUMBAI VS WYETH PHARMACEUTICALS INDIA PVT LTD (EARLIER KNOWN AS WYETH PHARMCEUTICALS INDIA LIMITED) LEVEL 6, PLATINA, PLOT NO.C - 59 G - BLOCK, BANDRA KURLA COMPLEX BANDRA (EAST), MUMBAI - 400 098 PAN : AAACW6225E APPELLANT RESPONDENT 2 I.T.A. NO.1784/MUM/2014 I.T.A. 1884/MUM/2014 I.T.A. 3126/MUM/2014 A SSESSEE BY SHRI FENIL BHATT , AR RE VENUE BY MS. NEHA THAKUR , DR DATE OF HEARING 09 - 0 3 - 2021 DATE OF PRONOUNCEMENT 09 - 0 3 - 2021 O R D E R PER SAKTIJIT DEY (JM) : CAPTIONED ARE CROSS APPEALS FOR ASSESSMENT YEAR 2009 - 10 AND APPEAL BY THE ASSESSEE FOR ASSESSMENT YEAR 2010 - 11. WHILE CROSS APPEALS FOR ASSESSMENT YEAR 2009 - 10 ARE AGAINST FINAL ASSESSMENT ORDER PASSED IN PURSUANCE TO DIRECTIONS OF THE DISPUTE RESOLUTION PANEL (DRP), THE APPEAL FOR A SSESSMENT Y EAR 2010 - 11 ARISE S OUT OF THE ORDER PASSED BY THE LEARNED COMMISSIONER OF INCOME - TAX (APPEALS). 2. AS FAR AS ASSESSEES APPEALS ARE CONCERNED, SHRI FENIL BHATT, THE LEARNED A UTHORISED R EPRESENTATIVE OF THE ASSESSEE SUBMITTED THAT ASSESSEE HAS OPTED FOR SETTLING THE DISPUTE UNDER THE DIRECT TAX VIVADH SE VISHWAS ACT, 2020 BY FILING DECLARATION S BEFORE THE DESIGNATED AUTHORITY ON 31 - 01 - 2021. FURTHER, HE SUBMITTED, ASSESSEES APPEAL S MAY BE DISPOSED OF AS WITHDRAWN WITH A LIBERTY TO SEEK RESTORATION OF THE APPEAL S, IN CASE , THE DECLARATION S FILED UNDER THE DIRECT TAX VIVADH SE VISHWAS ACT, 2020, ARE NOT ACCEPTED BY THE DEPARTMENT. 3. AS FAR AS REVENUES APPEAL IS CONCERNED, LEARNED AUTHORI ZED REPRESENTATIVE SUBMITTED, THE APPEAL IS NOT MAINTAINABLE DUE TO LOW TAX EFFECT. 4. THE LEARNED D EPARTMENTAL R EPRESENTATIVE SUBMITTED, IN CASE , REVENUES APPEAL IS DISMISSED DUE TO LOW TAX EFFECT, LIBERTY MAY BE GRANTED TO THE REVENUE 3 I.T.A. NO.1784/MUM/2014 I.T.A. 1884/MUM/2014 I.T.A. 3126/MUM/2014 TO SEEK RESTORATION OF THE APPEAL I F IT IS FOUND TO BE NOT COVERED UNDER THE LOW TAX EFFECT AS PER THE CIRCULAR OF THE CBDT. 5. WE HAVE CONSIDERED RIVAL SUBMISSIONS AND PERUSED MATERIALS ON RECORD. CONSIDERING THE FACT THAT THE ASSESSEE HAS OPTED FOR SETTLING THE DISPUTE ARISING IN ITS APPEAL S UNDER THE DIRECT TAX VIVADH SE VISHWAS ACT, 2020, WE ARE INCLINED TO DISMISS T HE APPEAL S AS WITHDRAWN. HOWEVER, IF , FOR ANY UNFORESEEN REASON S ASSESSEES DECLARATION S ARE NOT ACCEPTED BY THE DEPARTMENT, LIBERTY IS GRANTED TO THE ASSESSEE TO SEEK RECALL OF THIS ORDER AND RESTORATION OF THE APPEAL S . 6. INSOFAR AS REVENUES APPEAL IN ITA NO.1884/MUM/2014 IS CONCERNED, PRIMA FACIE IT APPEARS, THE TAX EFFECT ON THE AMOUNT DISPUTED BY THE REVENUE WORKS OUT TO LESS THAN RS.50 LAKHS, THE THRESHOLD LIMIT PRESCRIBED IN CIRCULAR NO.17/2019 DATED 08 TH AUGUST, 2019 FOR FILING APPEAL BEFORE THE TRIBUNAL. IN VIEW OF THE AFORESAID, WE DISMISS THE APPEAL OF THE REVENUE , AS WELL, DUE TO LOW TAX EFFECT. HOWEVER, LIBERTY IS GRANTED TO THE REVENU E TO SEEK RESTORATION OF THE APPEAL, IF IT IS ABLE TO PROVE THAT EITHER THE TAX EFFECT ON THE AMOUNT DISPUTED IS MORE THAN RS.50 LAKHS OR THE APPEAL IS PROTECTED BY ANY OF THE EXCEPTIONS PROVIDED IN THE ABOVE CIRCULAR. 7. IN THE RESULT, APPEALS ARE DISMISS ED. ORDER PRONOUNCED ON 09 /0 3 /2021. S D / - S D / - ( RAJESH KUMAR ) ( SAKTIJIT DEY ) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DT : 09 /0 3 /2021 PAVANAN 4 I.T.A. NO.1784/MUM/2014 I.T.A. 1884/MUM/2014 I.T.A. 3126/MUM/2014 COPY TO : 1. APPELLANT 2. RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A) 5. THE DR, ITAT, MUMBAI 6. GUARD FILE BY ORDER ASSTT. REGISTRAR, ITAT, MUMBAI 5 I.T.A. NO.1784/MUM/2014 I.T.A. 1884/MUM/2014 I.T.A. 3126/MUM/2014