DCIT RG 4(1), MUMBAI V. AMAN INFRATEX LTD, MUMBAI

ITA 2196/MUM/2011

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 1601 (ITAT-MUMBAI)
• Duration Of Justice: 5 year(s) 8 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-12-2016
• Appeal Filed By: Department
• Bench Allotted: A
• Next Hearing Date: 04-05-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 17-03-2011
• Court: TRIBUNAL
• Department Lawyers: RAJESH KUMAR YADAV
• Assessee Lawyers: R C JAIN
• Keywords: Tax effect
• Section: 115JB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH A , MUMBAI BEFORE SHRI SHRI CN PRASAD, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL , ACCOUNTANT MEMBER ITA NO. 2196 /MUM/201 1 : (A.Y : 20 0 7 - 08 ) DC IT RG 4(1) MUMBAI (APPELLANT) VS. AMAN INFRATEX LTD 10 OVAL WADI, KALABADEVI ROAD MUMBAI 400 0 02 PAN : AAC CA9711H (RESPONDENT) APPELLANT BY : SHRI RAJESH KUMAR YADAV RESPONDENT BY : SHRI RC JAIN DATE OF HEARING : 1 5 / 1 2 /201 6 DATE OF PRONOUNCEMENT : 1 5 /12/2016 O R D E R PER CN PRASAD , J M : THE APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 03 . 1 2 .201 0 , PASSED BY THE D CIT RANGE 4(1) , MUMBAI, FOR THE ASSESSMENT YEAR 200 7 - 08 . 2. AT THE OUTSET, WE HAVE NOTICED THAT THE TAX EFFECT IN THE APPEAL OF THE REVENUE IS BELOW RS.10 LAKHS AS THE DISALLOWANCE MADE U/S 40(A)(IA) OF RS.32,66,300/ - WAS TO THE BOOK P RO FITS DETERMINED U/S 115JB WHICH IS LIABLE FOR TAX AT THE RATE OF 10%. T HEREFORE, THE SAME IS NOT MAINTAINABLE AS PER THE CBDT CIRCULAR NO.21/2015, DATED 10TH DECEMBER, 2015. WE FOUND THAT AS PER THE RECENT CIRCULAR NO.21/2015, DATED 10TH DECEMBER, 2015, ISSUED BY THE CBDT, THE MONETARY LIM IT HAS BEEN REVISED FOR FILING OF APPEAL BEFORE ITAT BY THE REVENUE FIXING THE TAX EFFECT LIMIT OF RS.10 LAKHS. IN THE INSTANT CASE, 2 SHRI AMAN INFRATEX LTD ITA NO. 2196 /MUM/20 11 THE TAX EFFECT IS BELOW RS.10 LAKHS, THEREFORE THE SAME IS NOT MAINTAINABLE AND LIABLE TO BE DISMISSED IN LIMINE. THIS CIRC ULAR IS RETROSPECTIVE AND APPLICABLE TO THE PENDING APPEALS ALSO. 3. CONSIDERING THE ABOVE CBDT CIRCULAR, WE FOUND THAT THIS APPEAL OF THE REVENUE IS NOT MAINTAINABLE AS THE TAX EFFECT IN THIS APPEAL IS BELOW RS.10 LAKHS. ACCORDINGLY, WE DISMISS THE APPEAL OF THE REVENUE. 4. IN THE RESULT, APPEAL OF REVENUE IS DISMISSED. ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 1 5 .12. 2016. SD/ - SD/ - MANOJ KUMAR AGGARWAL C.N.PRASAD / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI, DATE : 1 5 TH DECEMBER, 2016 LR, SPS COPY TO : 1) THE APPELLANT 2) THE RESPONDENT 3) THE CIT(A) CONCERNED 4) THE CIT CONCERNED 5) THE D.R, I BENCH, MUMBAI 6) GUARD FILE BY ORDER DY./ASSTT. REGISTRAR I.T.A.T, MUMBAI