ITO 4(3)(4), MUMBAI V. RAJENDRA PUSHPATINATH KARUNDIA, MUMBAI

ITA 208/MUM/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 5428 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2012-2013
• Appeal Filed On: 10-01-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAM TIWARI LD
• Keywords: Tax effect
• Section: 143(3); 54

Judgement Text

ITA NO.208/MUM/2017 RAJENDRA PASHUPATINATH KARUNDIA ASSESSMENT YEAR-2012-13 IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI , , BEFORE SHRI SAKTIJIT DEY, JM AND SHRI MANOJ KUMAR AGGARWAL, AM ./I.T.A. NO.208/MUM/2017 ( / ASSESSMENT YEAR: 2012-13) INCOME TAX OFFICER - 4(3)(4) ROOM NO.637, 6 TH FLOOR AAYKAR BHAVAN, M.K.ROAD MUMBAI-400 020 / VS. RAJENDRA PASHUPATINATH KARUNDIA 66, LILADHAR LAKHAMSHI MARG DANABUNDER MUMBAI-400 009 ! ./ ./PAN/GIR NO. AABPK-5708-J ( !# /APPELLANT ) : ( $%!# / RESPONDENT ) A SSESSEE BY : NONE RE VENUE BY : RAM TIWARI, LD. DR / DATE OF HEARING : 19/07/2018 / DATE OF PRONOUNCEMENT : 25/07/2018 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. AFORESAID APPEAL BY REVENUE FOR ASSESSMENT YEAR [AY] 2012-13 CONTEST THE ORDER OF THE LD. COMMISSIONER OF INCOME -TAX (APPEALS)-9 [CIT(A)], MUMBAI, APPEAL NO.CIT(A)-9/CIR.4/250/2015-16 DATED 24/10/2016 QUA CERTAIN RELIEF TO THE ASSESSEE. NONE HAS APPEARED F OR ASSESSEE AND THEREFORE, LEFT WITH NO OPTION, WE PRO CEED TO DISPOSE-OFF ITA NO.208/MUM/2017 RAJENDRA PASHUPATINATH KARUNDIA ASSESSMENT YEAR-2012-13 2 THE APPEAL ON THE BASIS OF MATERIAL AVAILABLE ON RE CORD AND AFTER HEARING LD. DEPARTMENTAL REPRESENTATIVE. 2. THE ASSESSMENT FOR IMPUGNED AY WAS FRAMED BY LD. INCOME TAX OFFICER-4(3)(4), MUMBAI [AO] U/S 143(3) OF THE INCO ME TAX ACT,1961 ON 25/03/2013 WHEREIN THE INCOME OF THE ASSESSEE HAS B EEN ASSESSED AT RS.67.29 LACS AFTER CERTAIN ADDITIONS AS AGAINST RE TURNED INCOME OF RS.2.70 LACS FILED BY THE ASSESSEE ON 31/03/2014. 3. AGGRIEVED, THE ASSESSEE CONTESTED THE SAME WITH PARTIAL SUCCESS BEFORE LD. CIT(A) VIDE IMPUGNED ORDER DATED 24/10/2 016 WHEREIN LD. CIT(A) PROVIDED A RELIEF OF RS.4.58 LACS ON ACCOUNT OF INTEREST EXPENSES AS DISALLOWED BY LD. AO. ANOTHER RELIEF OF RS.50 LA CS WAS PROVIDED TO THE ASSESSEE ON ACCOUNT OF DEDUCTION U/S 54 WHICH W AS CLAIMED BY THE ASSESSEE DURING ASSESSMENT PROCEEDINGS. AGGRIEVED B Y THE ACTION OF LD. CIT(A), THE REVENUE IS IN FURTHER APPEAL BEFORE US. 4. AT THE OUTSET, IT IS NOTED THAT TAX EFFECT OF TH E QUANTUM ADDITIONS AS CONTESTED BY THE REVENUE IS LESS THAN PRESCRIBED LI MIT OF RS.20 LACS AND THE SAME IS COVERED BY RECENTLY ISSUED LOW TAX EFFECT CIRCULAR NO.03/2018 DATED 11/07/2018 ISSUED BY CENTRAL BOARD OF DIRECT TAXES [CBDT]. THE LD. DR, SHRI RAM TIWARI HAS CONTROVERTED THE SAME BY SUBMITTING THAT NECESSARY INSTRUCTIONS / CERTIFICAT E, IN THIS REGARD, WOULD BE REQUIRED FROM HIGHER AUTHORITIES. 5. WE HAVE GONE THROUGH THE CIRCULAR AND FIND THAT THE TAX EFFECT OF QUANTUM IN DISPUTE IS BELOW PRESCRIBED LIMIT OF RS. 20 LACS AND THE ASSESSEE STOOD BENEFITTED BY THE ABOVE CIRCULAR ISS UED BY CBDT WHEREIN THE MINIMUM MONETARY LIMIT FOR FILING THE A PPEALS BEFORE VARIOUS APPELLATE AUTHORITIES HAVE BEEN FIXED AS UNDER:- ITA NO.208/MUM/2017 RAJENDRA PASHUPATINATH KARUNDIA ASSESSMENT YEAR-2012-13 3 S. NO. APPEALS/ SLPS IN INCOME-TAX MATTERS MONETARY LIMIT (RS.) 1 BEFORE APPELLATE TRIBUNAL 20.00,000 2 BEFORE HIGH COURT 50.00,000 3 BEFORE SUPREME COURT 1,00.00,000 THE AFORESAID LIMITS, AS PER PARA 13 OF THE CIRCULAR APPLIES TO PENDING APPEALS ALSO. IN VIEW OF THE ADMITTED POSITION, WE DISMISS THE REVENUES APPEAL. 6. SO FAR AS THE CONTENTIONS RAISED BY LD. DR IS CO NCERNED, WE FIND THAT AFORESAID CIRCULAR DOES NOT ENVISAGE OBTAINING OF ANY CERTIFICATE FROM ANY AUTHORITIES, IN ANY MANNER. NEVERTHELESS, THE R EVENUE IS FREE TO MOVE APPROPRIATE APPLICATION TO RECALL THIS LETTER, IF AT A LATER STAGE, IT IS FOUND THAT THE MATTER IS COVERED BY ANY EXCEPTIONS PROVIDED IN THE AFORESAID CIRCULAR. 7. THE APPEAL STAND DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 25 TH JULY, 2018 SD/- SD/- (SAKTIJIT DEY) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 25.07.2018 SR.PS:-THIRUMALESH ITA NO.208/MUM/2017 RAJENDRA PASHUPATINATH KARUNDIA ASSESSMENT YEAR-2012-13 4 ! / COPY OF THE ORDER FORWARDED TO : 1. !# / THE APPELLANT 2. $%!# / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT CONCERNED 5. + ,$ - , - , / DR, ITAT, MUMBAI 6. , ./0 / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI