JTCIT 19(2), MUMBAI V. KUMAR RASIKLAL MEHTA, MUMBAI

ITA 2055/MUM/2015

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 2294 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 09-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B S BIST
• Assessee Lawyers: R K SINHA

Judgement Text

- IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI , BEFORE SHRI SANJAY ARORA , A M ./ I.T.A. NO. 2055/MUM/2015 ( / ASSES SMENT YEAR: 2010 - 11 ) JT. CIT - 19(2), RANGE - 19(2), ROOM NO. 212, MATRU MANDIR, TARDEO ROAD, MUMBAI - 400 007 / VS. KUMAR RASIKLAL MEHTA 602/603, PRASAD CHAMBERS, OPERA HOUSE, MUMBAI - 400 00 4 ./ ./ PAN/GIR NO. AAOPM 3805 D ( / APPELLANT ) : ( / RESPONDENT ) / APPELLANT BY : SHRI B. S. BIST / RESPONDENT BY : SHRI R. K. SINHA / DATE OF HEARING : 16.11.2015 DATE OF ORDER : 03 .1 2 .2015 / O R D E R PER SANJAY ARORA, A. M.: THIS IS AN A PPEAL BY THE REVENU E DIRECTED AGAINST THE ORDER BY THE COMMISSIONER OF INCOME TAX (APPEALS) - 30 , MUMBAI (CIT(A) FOR SHORT) DATED 12.01.2015 , PARTLY ALLOWING THE A SSESSEES APPEAL CONTESTING ITS ASSESSMENT U/S.143(3) OF THE INCOME TAX ACT, 1961 (THE ACT HEREINAFTER) FOR THE ASSESSMENT YEAR (A.Y.) 2010 - 11 VIDE ORDER DATED 09.3.2013 . 2 ITA NO. 2055/MUM/2015 (A.Y. 2010 - 11) JT. CIT VS. KUMAR RASIKLAL MEHTA 2. AT THE VERY OUTSET, IT WAS SUBMITTED BY THE LD. AUTHORIZED REPRESENTATIVE (AR), THE ASSESSEES COUNSEL , THAT THE TAX - EFFECT OF THE INS TANT APPEAL FILED ON 08.9.2015, IS MUCH BELOW THE THRESHOLD MONETARY LIMIT IN ITS RESPECT AS PRESCRIBED BY THE BOARD VIDE CIRCULAR ISSUE D U/S.268A OF THE ACT, I.E., RS.4 LACS, ADDUCING A COPY OF THE RELEVANT BOARD INSTRUCTION (NO. 5 OF 2014 DATED 10.4.2014 ) , APPLICABLE TO THE APPEALS BY THE REVENUE FILED ON OR AFTER JULY 10, 2014. THIS, IT WAS FURTHER EXPLAINED BY HIM, IS ON THE ISSUE IN DISPUTE BEING THE ASSESSMENT OF THE IMPUGNED CAPITAL GAIN (RS.9.15 LACS) A S SHORT - TERM CAPITAL GAIN AS AGAINST LONG - TERM CAP ITAL GAIN RETURNED BY THE ASSESSEE, AND WHICH ENTAIL S A TAX DIFFERENCE OF 20%. THE LD. DEPARTMENTAL REPRESENTATIVE (DR) FAIRLY CONCEDED TO THIS BEING THE OBTAINING FACTUAL POSITION. 3. THE PARTIES WERE HEARD , AND THE MATERIAL ON RECORD PERUSED. AS CONFIRM ED FROM THE ASSESSMENT ORDER , THE IMPUGNED ORDER AND THE GROUNDS OF APPEAL, THE ISSUE ARISING IN APPEAL IS IN CONFORMITY WITH THAT STATED BY THE LD. AR. THE TAX - EFFECT IS ACCORDINGLY BELOW RS.4 LACS. FURTHER, THE APPEAL DOES NOT FALL IN ANY OF THE EXCE PTIO N S SPECIFIED AT PARA 8 OF THE BOARD INSTRUCTION SUPRA. THE INSTANT APPEAL IS , ACCORDINGLY , NOT MAINTAINABLE U/S.268A OF THE ACT R/W BOARD INSTRUCTION ISSUED IN PURSUANCE THEREOF AND , RATHER , OUGHT NOT TO HAVE BEEN FILED BY THE REVENUE, EVEN AS STATED IN TH E I NSTRUCTION ITSELF. THE SAME IS, ACCORDINGLY, DISMISSED AS NOT MAINTAINABLE. 4. IN THE RESULT, THE R EVENUE S APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON NOVEMB ER 1 6 , 201 5 SD/ - (S ANJAY ARORA) / A CCOUNTANT MEMBER MUMBAI ; DATED : 03/12/ 201 5 . . ./ ROSHANI , SR. PS 3 ITA NO. 2055/MUM/2015 (A.Y. 2010 - 11) JT. CIT VS. KUMAR RASIKLAL MEHTA / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT - CONCERNED 5. , , / DR, ITAT, MUMBAI 6. / GUARD F ILE / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI