DCIT 5(3)(2), MUMBAI V. STELLAR DEVELOPERS P.LTD, MUMBAI

ITA 2448/MUM/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 1372 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2016
• Appeal Filed By: Department
• Bench Allotted: G
• Assessment Year: 2010-2011
• Appeal Filed On: 29-04-2015
• Court: TRIBUNAL
• Department Lawyers: ARJU GAROTIA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH G , MUMBAI BEFORE SHRI CN PRASAD, JUDICIAL MEMBER AND SHRI RAJESH KUMAR , ACCOUNTANT MEMBER ITA NO. 2 448 /MUM/201 5 : (A.Y : 20 10 - 11 ) DC IT 5 ( 3 ) (2) ROOM NO.573, AAYAKAR BHAVAN M.K.ROAD MUMBAI 400 020 (APPELLANT) VS. STELLAR DEVELOPERS P LTD 103, SANGEETA ENCLAVE SARVOD A YA NAGAR MULUND (W) MUMBAI 400 080 PAN : AABCS1078C (RESPONDENT) APPELLANT BY : SHRI ARJU GAROTIA RESPONDENT BY : NONE DATE OF HEARING : 22 / 1 2 /201 6 DATE OF PRONOUNCEMENT : 22/ 12/2016 O R D E R PER CN PRASAD , J M : THE APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 25 . 0 2 .201 5 , PASSED BY THE D CIT RANGE 5 ( 3 ) , MUMBAI, FOR THE ASSESSMENT YEAR 20 10 - 11 . 2. AT THE OUTSET, THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE TAX EFFECT IN THIS REVENUES APPEAL IS LESS THAN RS. 10 LAKHS AND THEREFORE IN VIEW OF CBD T CIRCULAR NO. 21/2015 DATED 10.12. 2015 , THE APPEAL IS NOT MAINTAI NABLE. THE LD. DR FAIRLY SUBMITS THAT THE TAX EFFECT IS LESS THAN RS.10 LAKHS. 3. WE FOUND THAT AS PER THE RECENT CIRCULAR NO.21/2015, DATED 10 .12. 2015, ISSUED BY THE CBDT, THE MONETARY LIMIT HAS BEEN REVISED 2 M/S STELLAR DEVELOPERS PVT. LTD ITA NO. 2 448 /MUM/20 1 5 FOR FILING OF APPEAL BEFORE ITAT BY THE REVENUE FIXING THE TAX EFFECT LIMIT OF RS.10 LAKHS. IN THE INSTANT CASE, THE TAX EFFECT IS BELOW RS.10 LAKHS, THEREFORE THE SAME IS NOT MAINTAINABLE AND LIABLE TO BE DISMISSED IN LIMINE. THIS CIRCULAR 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 PRO NOUNCED IN THE OPEN COURT ON 22 .12.2016. SD/ - SD/ - RAJESH KUMAR C.N.PRASAD / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI, DATE : 22 ND 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