ITO 19(3)1), MUMBAI V. BRIGHT LAND DEVELOPERS, MUMBAI

ITA 260/MUM/2011

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 1524 (ITAT-MUMBAI)
• Duration Of Justice: 5 year(s) 11 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-12-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 02-03-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 11-01-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: G N MAKWANA
• Keywords: Tax effect

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH , JM AND SHRI RAJESH KUMAR, AM ./ I .T.A. NO .260/MUM/2011 ( / ASSESSMENT YEA R : 2007 - 08 ) INCOME TAX OFFICER 1 9 ( 3 ) 1 , ROOM NO. 307 , 3 RD FLOOR, PIRAMAL CHAMBERS, PAREL, MUMBAI - 400012. / VS. BRIGHT LAND DEVELOPERS, 13 JAIN CHAMBERS, S V ROAD, BANDRA (W), MUMBAI - 400050 ./ PAN : A AEFB5094P APPELLANT BY SHRI G N MAKWANA RE SPONDENT BY S HRI PRAKASH G JHUNJHUNWALA / DATE OF HEARING : 24.5. 2016 / DATE OF PRONOUNCEMENT : 16. 1 2 . 2016 / O R D E R PER RAJESH KUMAR , A M THE APPEAL FILED BY THE REV ENUE IS DIRECTED AGAINST THE ORDER DATED 29.10.2010 , PASSED BY THE CIT(A) - 30 , MUMBAI, FOR THE ASSESSMENT YEAR 20 07 - 08 . 2. AT THE OUTSET, WE HAVE NOTICED THAT THE TAX EFFECT IN THE APPEAL OF THE REVENUE IS BELOW RS.10 LAKHS, THEREFORE, THE SAME IS NOT MA INTAINABLE AS PER THE CBDT CIRCULAR NO.21/2015, DATED 10TH DECEMBER, 2015. WE FOUND THAT AS PER THE RECENT CIRCULAR NO.21/2015, DATED 10TH DECEMBER, 2015, ISSUED BY THE CBDT, THE MONETARY LIMIT HAS BEEN REVISED FOR FILING OF APPEAL BEFORE 2 ITA NO. 260/MUM/ 201 1 ITAT BY THE REVEN UE 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 DISMI SSED. ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 16.12 . 2016. SD SD ( MAHAVIR SINGH ) ( RAJESH KUMAR ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 16.12. 2016 SR.PS:SRL: / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. ( ) / THE CIT(A ) 4. / CIT CONCERNED 5. , , / DR, ITAT, MUMBAI 6. / GUARD F ILE / BY ORDER, T RUE COPY / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI