DCIT 1(2)(1), MUMBAI V. JOHN FOWLER OCULAR LENSES P.LTD, MUMBAI

ITA 2332/MUM/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 1765 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 5 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2008-2009
• Appeal Filed On: 03-04-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V K CHATURVEDI LD
• Assessee Lawyers: HARSHAL AGRAWAL LD
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL J BENCH, MUMBAI , , BEFORE SHRI JOGINDER SINGH, JM AND SHRI MANOJ KUMAR AGGARWAL, AM ./I.T.A. NO. 2332/MUM/2017 ( / ASSESSMENT YEAR: 2008-09) ASSISTANT COMMISSIONER OF INCOME TAX 1(2)-1 ROOM NO. 535, 5 TH FLOOR AAYKAR BHAWAN M.K.ROAD,MYMBAI 400 020 / VS. JOHN FLOWER OCULAR LENSES P. LTD. 19, RAJ MAHAL 84, VEER NARIMAN ROAD MUMBAI 0 400 020 ./ ./PAN/GIR NO. AAACK-2005-J ( /APPELLANT ) : ( !' / RESPONDENT ) ASSESSEE BY : HARSHAL AGRAWAL, LD.AR REVENUE BY : V.K. CHATURVEDI, LD. DR / DATE OF HEARING : 16/08/2018 / DATE OF PRONOUNCEMENT : 07/09/2018 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. AFORESAID APPEAL BY REVENUE FOR ASSESSMENT YEAR [AY] 2008-09 CONTEST THE ORDER OF THE LD. COMMISSIONER OF INCOME -TAX (APPEAL)-2 [CIT(A)], MUMBAI, APPEAL NO.CIT(A)-20/IT-219/2014-15 DATED 26/12/2016 QUA CERTAIN RELIEF PROVIDED TO THE ASSESSEE FOR RS.35.1 2 LACS. 2. THE LD. AUHTORIZED REPRESENTATIVE FOR ASSESSEE [AR], AT THE OUTSET, DREW OUR ATTENTION TO THE FACT THAT THE TAX EFFECT OF THE QUANTUM 2 ADDITIONS AS CONTESTED BY THE REVENUE IS LESS THAN THRESHOLD LIMIT OF RS.20 LACS AND THE SAME IS COVERED BY RECENTLY ISSU ED LOW TAX EFFECT CIRCULAR NO.03/2018 DATED 11/07/2018 ISSUED BY CENTRAL BOARD OF DIRECT TAXES [CBDT]. THE LD. DR, SHRI V.K.CHATURVEDI, HAS CONTROVERTED THE SAME BY SUBMITTING THAT NECESSARY INSTRUCTIONS / CE RTIFICATE, IN THIS REGARD, WOULD BE REQUIRED FROM HIGHER AUTHORITIES. 3. 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:- 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. 4. 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 ORDER, IF AT A LATER STAGE, IT IS FOUND THAT THE MATTER IS COVERED BY ANY EXCEPTIONS PROVIDED IN THE AFORESAID CIRCULAR OR IN CASE THE TAX EFFECT OF THE QUANTUM ADDITIONS AS AGITATED BY REVENUE EXCEEDS THE PRESCRIBED MONETARY LIMIT. 5. RESULTANTLY, THE APPEAL STAND DISMISSED. 3 ORDER PRONOUNCED IN THE OPEN COURT ON 07 TH SEPTEMBER, 2018 SD/- SD/- (JOGINDER SINGH) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED :07.09.2018 SR.PS:-THIRUMALESH ! / 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 FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI