ASST CIT 16(3), MUMBAI V. M.R. BHANSALI & CO., MUMBAI

ITA 2501/MUM/2014

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 1982 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 6 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-11-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 11-04-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NEIL PHILIPH
• Keywords: Retrospective amendment; Tax effect

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES B , MUMBAI , . . , , BEFORE SHRI JOGINDER SINGH, J UDICIAL M EMBER , A ND SHR I N.K. PRADHAN , A CCOUNTANT M EMBER ITA NO . 2501 /MUM/20 14 ASSESSMENT YEAR: 200 9 - 1 0 ACIT - 16 ( 3 ), MATRU MANDIR, 2 ND FLOOR, ROOM NO. 206 , TARDEO ROAD, MUMBAI - 07 / VS. M/S. M.R. BHANSALI & CO., 811, PRASAD CHAMBERS, OPERA HOUSE, MUMBAI - 04 ( / REV ENUE) ( /ASSESSEE) P.A. NO. AAAFM 1627 M / REVENUE BY SHRI NEIL PHILIPH - DR / ASSESSEE BY SHRI HITESH TRIVEDI / DATE OF HEARING : 07 /1 1 /201 6 / DATE OF ORDER : 07 /1 1 /2016 / O R D E R PER JOGINDER SINGH (JUDICIAL MEMBER) THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DATED 17 /0 1 /201 4 OF THE LD. FIRST APPELLATE AUTHORITY, MUMBAI - 27 . 2. DURING HEARING OF THIS APPEAL, AT THE OUTSET, SHRI HITESH TRIVEDI , LD. COUNSEL FOR THE ASSESSEE CONTENDED THAT IN THE M/S. M.R. BHANSALI & CO ITA NO S . 2501 /MUM/2014 2 PRESENT APPEAL, THE TOTAL TAX EFFECT IS BELOW PRESCRIBED MONETARY LIMIT OF RS.10 LAKH FOR FILING THE APPEAL BEFORE THIS TRIBUNAL. THE LD. DR, SHRI NEIL PHILIPH , DID NOT CONTROVERT THE FACTUAL MATRIX. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD . IN VIEW OF THE ABOVE, IT IS NOTED THAT THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW PRESCRIBED LIMIT OF RS.10 LAKH FOR FILING THE APPEAL BEFORE THE TRIBUNAL, AS CONTAIN ED IN CBDT INSTRUCTION NO.21 OF 2015, DATED 10/12/2015 (F NO.279/MISC./142/2007 - IT(PT), APPLICABLE WITH RETROSPECTIVE EFFECT, WHEREIN, THE DEPARTMENT WAS ADVISED/DIRECTED BY THE BOARD NOT TO FILE APPEAL IN THE CASES WHERE THE TAX EFFECT DOES NOT EXCEED TH E FOLLOWING MONETARY LIMIT.: - 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/ - IN VIEW OF THE ABOVE INSTRUCTION, SINCE, THE TAX EFFECT IS LESS THAN RS.10,00,000/ - , CONSEQUENTLY, THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE, THEREFORE, DISMISSED. M/S. M.R. BHANSALI & CO ITA NO S . 2501 /MUM/2014 3 FINALLY, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. T HIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF LD. REPRESENTATIVES FRO M BOTH SIDES AT T H E CONCLUSION OF THE HEARING ON 07/11 /2016 . S D/ - SD/ - ( N.K. PRADHAN ) (JOGINDER SINGH) / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI; DATED : 07 / 1 1 /201 6 VR/ - . . / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT, MUMBAI. 4. / CIT(A) - , MUMBAI 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. / BY ORDER, //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBA I,