ASST CIT CIR 4(2), MUMBAI V. MEHTA EQUITIES LTD, MUMBAI

ITA 1792/MUM/2011

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 3390 (ITAT-MUMBAI)
• Duration Of Justice: 5 year(s) 5 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-08-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 26-08-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 04-03-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: O P MEENADR
• Keywords: Tax effect

Judgement Text

2/- IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUM BAI BEFORE SHRI RAJENDRA, A.M. AND SHRI RAMLAL NEGI, J. M. ./I.T.A. NO.1792/MUM/2011, / ASSESSMENT YEAR: 2007-08 ACIT, CIRCLE-4(2) ROOM NO.642, 6 TH FLOOR, AAYAKAR BHAVAN, MK ROAD MUMBAI-400 020. VS. M/S.MEHTA EQUITIES LTD. 24, NANABHAI CHAMBERS, 3 RD FLOOR, RUSTOM SIDHWA ROAD, FORT, MUMBAI-400001. PAN: AAACR4143C REVENUE BY: SHRI O.P. MEENA-DR ASSES SEE BY: NONE / DATE OF HEARING: 26.08.2016 / DATE OF PRONOUNCEMENT: 26.08.2016 ,1961 254(1) ORDER U/S.254(1)OF THE INCOME-TAX ACT,1961(ACT) PER RAJENDRA,A.M. - THE ABOVE APPEAL WAS FILED BY THE ASSESSING OFFICER (AO)RAISING FIVE EFFECTIVE GROUNDS OF APPEAL.IT WAS NOTICED THAT TAX EFFECT INVOLVED IN T HE CASE UNDER CONSIDERATION WAS BELOW THE MONETARY LIMIT, (RS.10,00,000/-),PRESCRIBED BY THE CENTRAL BOARD OF DIRECT TAXES (CBDT), VIDE ITS CIRCULAR NO. 21/2015(F.NO.279/MISC. 142/2007-IT J (PT.) DATED 10 TH DECEMBER, 2015. 2. DURING THE COURSE OF HEARING BEFORE US,THE DEPARTME NTAL REPRESENTATIVE (DR)FAIRLY CONCEDED THAT THE TAX INVOLVED IN THE APPEAL WAS LESS THAN R S.10.00 LACS.CONSIDERING THESE FACTS,WE DISMISS THE APPEAL HOLDING IT AS NOT MAINTAINABLE. AS A RESULT,APPEAL FILED BY THE ASSESSING OFFICER STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 26 TH AUGUST, 2016. 26 , 2016 SD/- SD/- ( / RAMLAL NEGI) ( / RAJENDRA) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 26.08.2016. JV.SR.PS. / COPY OF THE ORDER FORWARDED TO : 1. APPELLANT / 2. RESPONDENT / 3. THE CONCERNED CIT(A)/ , 4. THE CONCERNED CIT / 5. DR G BENCH, ITAT, MUMBAI / , , . . . 6. GUARD FILE/ //TRUE COPY// / BY ORDER, / DY./ASST. REGISTRAR , /ITAT, MUMBAI.