ACIT 17(3), MUMBAI V. VIJAY TRADING CO., MUMBAI

ITA 2128/MUM/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 1320 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-04-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 10-04-2017
• Assessment Year: 2011-2012
• Appeal Filed On: 01-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJESH KUMAR YADAV
• Assessee Lawyers: I P RATHI
• Keywords: Tax effect

Judgement Text

INCOME-TAX APP ELLATE TRIBUNAL A BENCH MUMBAI , , BEFORE S/SHRI JOGINDER SINGH,JUDI CIAL MEMBER & RAJENDRA,ACCOUNTANT MEMBER ./I.T.A./2128/MUM/2016 , /ASSESSMENT YEAR: 2011-12 ACIT-RANGE-17(3) ROOM NO. 137, FIRST FLOOR, AAYKAR BHAVAN, M.K. ROAD, MUMBAI-400 020. VS. VIJAY TRADING CO. 6/18-1, 2 ND FLOOR, GRANTS BUILDING, ARTHUR BUNDER ROAD, COLABA MUMBAI-400 005. PAN:AAAFV 1167H ( /APPELLANT ) ( / RESPONDENT ) REVENUE BY: SHRI RAJESH KUMAR YADAV ASSESSEE BY: SHRI I.P. RATHI / DATE OF HEARING: 13.04.2017 / DATE OF PRONOUNCEMENT: 13.04.2017 ,1961 254(1) ORDER U/S.254(1)OF THE INCOME-TAX ACT,1961(ACT) / PER RAJENDRA, AM - CHALLENGING THE ORDER, DATED 12/01/2016 OF THE CIT (A)-28, MUMBAI, THE ASSESSING OFFICER (AO) HAS FILED THE PRESENT APPEAL. ASSESSEE-FIRM, ENGAG ED IN THE BUSINESS OF PROPERTY DEVELOPMENT FILED ITS RETURN OF INCOME ON 19/09/2011, DECLARING A TOTAL OF RS. 1.09 CRORE. THE AO COMPLETED THE ASSESSMENT U/S.143 (3) OF THE ACT, ON 26/03/201 4, DETERMINING ITS INCOME AT RS. 1.50 CRORES. 2. IT WAS BROUGHT TO OUR NOTICE THAT TOTAL INCOME, AS PER THE ORDER GIVING EFFECT TO THE ORDER OF THE FIRST APPELLATE AUTHORITY (FAA), STOOD AT RS . 1.26 CRORES, THAT THE TAX EFFECT IN THE CASE UNDER CONSIDERATION WAS BELOW THE TAX LIMIT PRESCRI BED BY THE CBDT, VIDE ITS CIRCULAR NO.21/2015(F.NO.279/MISC. 142/2007-ITJ (PT.) DATED 10 TH DECEMBER, 2015, FOR FILING THE SECOND APPEALS.CONSIDERING THE ABOVE, WE HOLD THAT THE APP EAL FILED BY THE AO IS NOT MAINTAINABLE. HENCE, WE DISMISS THE SAME. AS A RESULT, APPEAL FILED BY ASSESSING OFFICER STAN DS DISMISSED. . ORDER PRONOUNCED IN THE OPEN COURT ON 13 TH APRIL, 2017. 13 , 2017 SD/- SD/- ( /JOGINDER SINGH) ( / RAJENDRA) / JUDICIAL MEMBER / ACCOUNTANT MEMBER /MUMBAI; /DATED : 13.04.2017. JV.SR.PS. ITA/2128 /MUM/2016-AY.2011-12 2 / COPY OF THE ORDER FORWARDED TO : 1. APPELLANT / 2. RESPONDENT / 3. THE CONCERNED CIT(A)/ , 4. THE CONCERNED CIT / 5. DR A BENCH, ITAT, MUMBAI / , , . . 6. GUARD FILE/ //TRUE COPY// / BY ORDER, / DY./ASST. REGISTRAR , /ITAT, MUMBAI.