ITO 9(2)(2), MUMBAI V. KARAN EMBOSSING P.LTD, MUMBAI

ITA 1994/MUM/2012

• Counselvise Citation: [2015] 121 COUNSELVISE.COM (IT) 0971 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-04-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 08-04-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 26-03-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASGHAR ZAIN
• Keywords: Depreciation; 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.1994/MUM/2012(A.Y. 2006-07) THE ITO-9(2), AAYAKAR BHAVAN, MUMBAI-400 020 PAN: AABCK 54654Q (APPELLANT ) VS. M/S. KARAN EMBOSSING PVT. LTD., 41, SIDHPURA INDL. ESTATE, S.V. ROAD, GOREGOAN (W), MUMBAI-400 064 (RESPONDENT) APPELLANT BY : SHRI ASGHAR ZAIN RESPONDENT BY : NONE DATE OF HEARING : 08/04/2015 DATE OF PRONOUNCEMENT : 08 /04/2015 ORDER 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 30.01.2012 FOR ASSES SMENT YEAR 2006-07. 2. GROUND OF APPEAL READS AS UNDER: 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E AND IN LAW, THE LD. CIT(A) ERRED IN ALLOWING EXCESS DEPRECIATION AMOUNT ING TO RS. 2,03,031/- U/S. 32(1)(IIA) OF THE ACT, DESPITE THE FACTS THAT THE ASSESSEE IS ENGAGED IN JOB WORK AND NOT IN MANUFACTURING ACTIVITY AS PER THE C OLUMN(A) OF THE FORM 3CD OF AUDIT REPORT. 2. AS IT CAN BE SEEN FROM THE GROUNDS OF APPEAL TH AT THE DELETION OF DISALLOWANCE AGITATED BY THE REVENUE IS ONLY A SUM OF RS. 2,03,031/-AND, THUS, THE TAX EFFECT BELOW THE LIMIT OF RS.3.00 LACS PRES CRIBED FOR FILING THE APPEAL ITA NO.1994/MUM/2012(A.Y. 2006-07) 2 BEFORE THE TRIBUNAL AS PER INSTRUCTION NO 3/2011, F NO.279/MISC.142/2007- /ITJ DATED 09/02/2011. 3. IN THIS VIEW OF THE SITUATION FINDING THAT TAX EFFECT IS LESS THAN THE PRESCRIBED LIMIT, WE DISMISS THE REVENUES APPEAL INLIMINE ON ACCOUNT OF LOW TAX EFFECT. 4. IN THE RESULT, APPEAL FILED BY THE REVENUE IS D ISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 08/04/2015 08/04/2015 SD/- SD/- ( , /RAJENDRA ) ( . . / I.P. BANSAL ) /ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI; $% DATED 08/04/2015 / COPY OF THE ORDER FORWARDED TO : 1. & '( / THE APPELLANT 2. )*'( / THE RESPONDENT. 3. +, ( & ) / THE CIT(A)- 4. +, / CIT 5. -. ),%/0 , &1 &/0 , / DR, ITAT, MUMBAI 6. 2 / GUARD FILE. / BY ORDER, * -, ), //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI . % . ./RJ, SR. PS