ITO 3(3)(2), MUMBAI V. SIMPLEX METALLUIRGICAL P.LTD, MUMBAI

ITA 2335/MUM/2015

• Counselvise Citation: [2016] 121 COUNSELVISE.COM (IT) 3261 (ITAT-MUMBAI)
• Duration Of Justice: 8 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 23-12-2015
• Assessment Year: 2010-2011
• Appeal Filed On: 23-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V S JADHAVDR
• Assessee Lawyers: KEYURI DESAI
• Keywords: Retrospective amendment; Tax effect

Judgement Text

, - , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES SMC, MUMBAI , ! ' , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, ITA NO.2335/MUM/2015 ASSESSMENT YEAR: 2010-11 INCOME TAX OFFICER-3(3)(2), ROOM NO.602, 6 TH FLOOR, AAYAKAR BHAVAN, M.K.ROAD, MUMBAI-400020 / VS. M/S SIMPLEX METALLURGICAL PVT. LTD. 93, BAJAJ BHAWAN, NARIMAN POINT, MUMBAI-400021 / REVENUE / ASSESSEE P.A. NO. AAACS0723M $ % & / REVENUE BY SHRI V.S. JADHAV-DR $ % & / ASSESSEE BY MS. KEYURI DESAI / DATE OF HEARING 18/01/2016 & / DATE OF ORDER: 18/01/2016 & / O R D E R THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DATED 19/01/2015 OF THE LD. FIRST APPELLATE AUTHORI TY, MUMBAI, ON THE GROUNDS AS STATED IN THE GROUNDS OF APPEAL. ITA NO.2335/MUM/2015 M/S SIMPLEX METALLURGICAL PVT. LTD. 2 2. AT THE OUTSET, IT WAS BROUGHT TO OUR NOTICE BY THE LD. COUNSEL FOR THE ASSESSEE, MS. KEYURI DESAI, THA T THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW PRESCRIBED MO NETARY LIMIT. THIS FACTUAL MATRIX WAS CONSENTED TO BE CORR ECT BY THE RESPECTIVE LD. DR, SHRI V.S. JADHAV. 2.1. I HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. I NOTE T HAT THE TOTAL INCOME COMPUTED BY THE LD. ASSESSING OFFICER IS RS.14,12,530/- AND THE LD. COMMISSIONER OF INCOME TAX (APPEALS) HAS GRANTED RELIEF TO THE ASSESSEE, THERE FORE, THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW THE PRESC RIBED MONETARY LIMIT OF RS.10 LAKH. 2.2. IN VIEW OF THE FACT THAT THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW PRESCRIBED MONETARY LIMIT, AS CONTAINED IN CBDT INSTRUCTION NO.3/2011 DATED 09/02/2011, FURTHER INSTRUCTION NO.5/2014 (F NO.279/MISC./142/2007-IT(PT) DATED 10/07/2014, THE CBDT REVISED THE MONETARY LIMIT FOR FILING THE APPE AL BEFORE VARIOUS AUTHORITIES/COURTS VIDE CBDT CIRCULAR NO.21 OF 2015, DATED 10/12/2015 (F NO.279/MISC./142/2007- IT(PT), WITH RETROSPECTIVE EFFECT AND ADVISED/DIREC TED THE DEPARTMENT NOT TO FILE APPEAL IN THE CASES WHERE TH E TAX EFFECT DOES NOT EXCEED THE FOLLOWING MONETARY LIMIT .:- ITA NO.2335/MUM/2015 M/S SIMPLEX METALLURGICAL PVT. LTD. 3 SL. NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS.) 1. BEFORE ITAT 10,00,000/ - 2. U/S 260 A BEFORE HONBLE HIGH COURT 20,00,000/ - 3. BEFORE HONBLE SUPREME COURT 25, 00,000/ - AS PER THE AFORESAID INSTRUCTION/REVISED MONETARY LIMIT, THE DEPARTMENT IS NOT TO FILE APPEAL BEFORE THE TRIBUNAL, WHEREIN, THE TAX EFFECT IS LESS THAN RS.10,00,000/-, CONSEQUENTLY, THE APPEAL OF THE REV ENUE IS NOT MAINTAINABLE. THEREFORE, IN VIEW OF UNCONTROVE RTED CONTENTION OF THE LD. DR AND THE AFOREMENTIONED CIR CULAR OF CBDT, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. FINALLY, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. THIS ORDER WAS PRONOUNCED IN THE OPEN IN THE PRESENCE OF LD. REPRESENTATIVE FROM BOTH SIDES AT T HE CONCLUSION OF THE HEARING ON 18/01/2016. SD/- (JOGINDER SINGH) ! ' / JUDICIAL MEMBER MUMBAI; DATED : 18/01/2016 F{X~{T? P.S / ! ITA NO.2335/MUM/2015 M/S SIMPLEX METALLURGICAL PVT. LTD. 4 & $ )!*+ ,&+-* / COPY OF THE ORDER FORWARDED TO : 1. '#$%& / THE APPELLANT 2. '(%& / THE RESPONDENT. 3. ) ) * ( '#$ ) / THE CIT, MUMBAI. 4. ) ) * / CIT(A)- , MUMBAI 5. -./ ' , ) '#$ ' 1 , / DR, ITAT, MUMBAI 6. /2 3$ / GUARD FILE. & / BY ORDER, (-# ' //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI