ACIT - 17(3), MUMBAI V. THE HINDUSTAN CO-OP. BANK LTD., MUMBAI

ITA 2352/MUM/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 3298 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 3 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-08-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2010-2011
• Appeal Filed On: 29-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NISHANT SOMAIYA
• Assessee Lawyers: AMAR GAHLOT
• Keywords: Tax effect

Judgement Text

P A G E | 1 ITA NO. 2352/MUM/2016 AY. 2010 - 11 ACIT - 17(3) VS. THE HINDUSTAN CO.OP BANK LTD. IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH G, MUMBAI BEFORE SHRI B.R.BASKARAN, ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, JUDICIAL MEMBER ITA NO.2352/MUM/2016 (ASSESSMENT YEAR 2010 - 11 ) ACIT - 17(3) AAYAKAR BHAVAN, R. NO.137, M.K. ROAD, MUMBAI - 20 ...... APPELLANT VS. THE HINDUSTAN CO.OP BANK LTD. 4 - A, DEVI GALLI, BABURAO BOBADE MARG, LOKHAND BAZAR, MUMBAI - 400 0009 PAN: AABAT4355R .... RESPONDENT APPELLANT BY : SHRI NISHANT SOMAIYA , A.R RESPONDENT BY : SHRI AMAR GAHLOT , D.R DATE OF HEARING : 23/08 /2018 DATE OF PRONOUNCEMENT : 2 3 /08 /2018 ORDER PER RAVISH SOOD, J.M: T HE CAPTIONED APPEAL FILED BY THE REVENUE PE RTAINING TO ASSESSMENT YEAR 2010 - 11 IS DIRECTED AGAINS T THE ORDER PASSED BY CIT(A) - 28 , MUMBAI, DATED 22.02.2016 , WHICH IN TURN ARISES FROM THE ORDER PASSED BY THE ASSESSING OFFICER UNDER SECTION 271(1)(C) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT), DATED 30.09.2013 . 2. AT THE OUTSET, IT IS NOTICED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS.2 0.00 LACS. THE CBDT VIDE ITS CIRCULAR NO.03/2018 , DATED P A G E | 2 ITA NO. 2352/MUM/2016 AY. 2010 - 11 ACIT - 17(3) VS. THE HINDUSTAN CO.OP BANK LTD. 11/07/2018 HAS REVISED THE MONETARY LIMITS FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL, RETROSPECTIVELY. SINCE THE TAX EFFECT IN DISPUTE IN THE CAPTIONED APPEAL IS STATED TO BE BELOW THE MONETARY LIMIT OF RS.2 0.00 LACS SPECIFIED IN THE CBDT CIRCULAR NO. 03/2018, DATED 11/07 /2018 , THEREFORE, THE SAME IS DISMISSED AS NOT MAINTAINABLE. 3. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUN CED IN THE OPEN COURT ON 2 3 .08. 2018 S D / - S D / - (B.R. BASKARAN ) ( RAVISH SOOD ) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI , DATED 2 3 . 08. 2018 PS: ROHIT COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT , 2. THE RESPONDENT. 3. THE CIT(A) - 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE . BY ORDER, //TRUE COPY// (DY./ASSTT. REGISTRAR) ITAT, MUMBAI P A G E | 3 ITA NO. 2352/MUM/2016 AY. 2010 - 11 ACIT - 17(3) VS. THE HINDUSTAN CO.OP BANK LTD.