DCIT 24(2), MUMBAI V. SWASTIC PLASTICS, MUMBAI

ITA 2515/MUM/2011

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4432 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 9 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 06-01-2016
• Assessment Year: 1999-2000
• Appeal Filed On: 31-03-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIVEK OJHA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES E, MUMBAI BEFORE SHRI JASON P. BOAZ (AM) AND SHRI RAM LAL NEG I (JM) ITA NO. 2515 /MUM/2011 ASSESSMENT YEAR: 1999-2000 THE DCIT-24(2), ROOM NO. 601, 6 TH FLOOR, PRATYAKSHAKAR BHAVAN, BANDRA-KURLA COMPLEX, BANDRA (E), MUMBAI- 400051. VS. M/S. SWASTIC PLASTICS. 806, NALANDA, SUNDER NAGAR, S.V. ROAD, MALAD (W), MUMBAI- 400064. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI. VIVEK OJHA RESPONDENT BY : NONE DATE OF HEARING: 06/01/2016 DATE OF PRONOUNCEMENT: 06/01/2016 O R D E R PER JASON P. BOAZ, AM THE AFORESAID APPEAL HAS BEEN FILED BY THE REV ENUE AGAINST THE IMPUGNED ORDER DATED 31/01/2011 PASSED BY THE CIT( A)-34, MUMBAI IN RESPECT OF THE ORDER OF ASSESSMENT PASSED U/S 14 3(3) FOR THE ASSESSMENT YEAR 1999-2000, ON THE FOLLOWING GROUNDS :- 1) 'WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES O F THE CASE AND IN LAW, THE LD.CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.15,00,000/- MADE BY THE AO ON ACCOUNT OF DECLARA TION MADE AT THE TIME OF SURVEY WITHOUT APPRECIATING THE FACT THAT THE AO COULD NOT FURNISH THE REMAND REPORT AS THE A SSESSED 2 ITA NO. 2515 /MUM/2011 ASSESSMENT YEAR: 1999-2000 FAILED TO FILE RECONCILIATION STATEMENTS BEFORE THE AO DURING THE REMAND PROCEEDINGS. 2) THE APPELLANT PRAYS THAT THE ORDER OF THE CIT(A ) ON THE GROUND BE SET ASIDE AND MATTER MAY BE DECIDED ACCOR DING TO LAW. THE APPELLANT CRAVES LEAVE TO AMEND OR ALTER ANY GROUND OR ADD NEW GROUND WHICH MAY BE NECESSARY. 2. AT THE OUTSET, IT IS NOTICED THAT, THE DISPUTE D ISSUE IS ONLY FOR RS. 15,00,000/- AND THE TAX EFFECT ON THIS AMOUNT I S BELOW THE SPECIFIED MONETARY LIMIT OF RS. 10 LAKHS. AS PER TH E LATEST CBDT CIRCULAR NO. 21 OF 2015, DATED 10 TH DECEMBER, 2015, NEW GUIDELINES OF MONETARY LIMIT FOR FILING OF APPEALS BY THE DEPARTMENT HAS BEEN ISSUED, WHEREBY THE TAX EFFECT FOR FILING OF APPEAL BEFORE THE ITAT HAS BEEN PRESCRIBED AT RS. 10 LAKHS. IN TH E SAID CIRCULAR, IT HAS BEEN SPECIFICALLY CLARIFIED THAT THE SAID IN STRUCTION WILL APPLY RETROSPECTIVELY TO ALL THE PENDING APPEALS. ACCORDI NGLY, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AND IS DIS MISSED IN LIMINE . ORDER PRONOUNCED IN THE OPEN COURT ON 6 TH JANUARY, 2016 SD/- SD/- ( RAM LAL NEGI ) (JASON P.BOAZ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI; DATED: 06/01/2016 3 ITA NO. 2515 /MUM/2011 ASSESSMENT YEAR: 1999-2000 / 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, M PRAMILA