ACIT, CIRCLE-15(1)(1), MUMBAI V. M/S OXIDES AND SPECIALITIES LTD., MUMBAI

ITA 199/MUM/2021

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 0099 (ITAT-MUMBAI)
• Duration Of Justice: 10 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-01-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2013-2014
• Appeal Filed On: 02-03-2021
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Depreciation; Tax effect; Tax effect

Judgement Text

म ु ंबई ठ “स ” स , स ं ओम ! " ंत , $% स $ सम& IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER सं. 199/म ु ं/2021 ( ,. . 2013-14 ) ITA NO.199/MUM/2021(A.Y.2013-14) Asstt. Commissioner of Income-tax, Circle 15(1)(1), Room No.451, 4 th Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020 ...... . /Appellant ब, म Vs. M/s. Oxides and Specialities Ltd. R-802, TTC Industrial Area, Thane Belapur Road, Mahape, Navi Mumbai. PAN: AAAFO-7222-L ..... ! त /Respondent . / / Appellant by : Shri R.A.Dhyani ! त / /Respondent by : Ms. Priyanshi Desai स ु , ई 0 त / Date of hearing : 17/01/2022 123 0 त / Date of pronouncement : 17/01/2022 $"/ ORDER PER VIKAS AWASTHY, JM: This appeal by the Revenue is directed against the order of Commissioner of Income Tax(Appeals) -24, Mumbai [ in short ‘the CIT(A)’ ] dated 21/01/2020 for the assessment year 2013-14. 2 सं. 199/म ु ं/2021 ( ,. . 2013-14 ) ITA NO.199/MUM/2021(A.Y.2013-14) 2. This appeal by the Revenue is time barred by 331 days. The ld.Departmental Representative submitted that the delay in filing of the appeal has been caused due to on going Pandemic. The delay is not intentional or due to any negligence. The limitation for filing of the appeal was extended by the Hon'ble Supreme Court of India vide order dated 23/03/2020 [117 taxmann.com 66(SC)]. After hearing ld.Departmental Representative, we are satisfied that the delay in filing of the appeal is not deliberate and has been caused due to reasons stated by the ld.Departmental Representative. The limitation for filing of the appeals , applications, etc. under General Laws or Special Laws was extended by the Hon'ble Supreme Court of India vide order dated 23/03/2020. In computing the period of limitation, the period from 15/03/2020 till 14/03/2021 was directed to be excluded. The present appeal was filed on 03/03/2021. Thus, in view of the above, the delay in filing of the appeal is condoned and appeal is admitted for adjudication on merits. 3. Ms. Priyanshi Desai appearing on behalf of the assessee submitted at the outset that appeal of the Revenue is liable to be dismissed on account of low tax effect. The ld.Authorized Representative for the assessee pointed that the addition which is subject matter of dispute is disallowance of depreciation amounting to Rs.50,56,071/-. The CIT(A) has deleted the same. Against the order of CIT(A), the Revenue is in appeal. Thus, the tax effect involved in the appeal is much less than the threshold limit of Rs.50,00,000/- specified by CBDT vide Circular No.17/2019 dated 08/08/2019 4. The ld.Departmental Representative fairly admitted that the tax effect involved in the appeal of Revenue is less than the Rs.50,00,000/-. 3 सं. 199/म ु ं/2021 ( ,. . 2013-14 ) ITA NO.199/MUM/2021(A.Y.2013-14) 5. Both sides heard. Undisputedly, the tax effect involved in the appeal is less than Rs.50,00,000/- i.e. the monetary limit specified by the CBDT vide Circular No.17/2019 (supra) for filing of appeals by the Revenue before the Tribunal. Thus, without going into merits of the issue raised in the appeal, the present appeal by the Revenue is dismissed on account of low tax effect. Order pronounced in the open court on Monday the 17 th day of January, 2022. Sd/- Sd/- ( OM PRAKASH KANT ) (VIKAS AWASTHY) $% स /ACCOUNTANT MEMBER स /JUDICIAL MEMBER म ु ंबई/ Mumbai, 4 , ं /Dated 17/01/2022 Vm, Sr. PS(O/S) त ल प अ े षतCopy of the Order forwarded to : 1. ./The Appellant , 2. ! त / The Respondent. 3. ु 5त( )/ The CIT(A)- 4. ु 5त CIT 5. 6 7 ! त , , . . ., म ु बंई/DR, ITAT, Mumbai 6. 7 89 : ; /Guard file. BY ORDER, //True Copy// (Dy./Asstt. Registrar) ITAT, Mumbai