ACIT CENT. CIR. - 47, MUMBAI V. Sri. BHARAT K. SHETH, MUMBAI

ITA 2606/MUM/2006

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 3403 (ITAT-MUMBAI)
• Duration Of Justice: 10 year(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-05-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 11-03-2015
• Assessment Year: 2001-2002
• Appeal Filed On: 27-04-2006
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B S BISTSR
• Assessee Lawyers: JAMSHEDJI
• Keywords: Retrospective amendment; Tax effect

Judgement Text

D IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ./ I.T.A. NO. 1236 /MUM/2006 AND ITA NO. 2606/MUM/2006 ( / ASSESSMENT YEAR : 2000-01 AND 2001--02) DEPUTY COMMISSIONER OF INCOME TAX, CC-47, ROOM NO.658,AAYAKAR BHAWAN, M K ROAD, MUMBAI-400 020 / V. SHRI BHARAT K. SHETH 19-B,MANEK , 11, L D RUPAREL MARG, MUMBAI- 400 072 ./ PAN :AAQPS2482L ( / APPELLANT ) .. ( / RESPONDENT ) REVENUE BY SH B.S.BIST,SR DR ASSESSEE BY : SHRI JAMSHEDJI / DATE OF HEARING : 18-05-2016 / DATE OF PRONOUNCEMENT : 18-05-2016 / O R D E R PER RAMIT KOCHAR,ACCOUNTANT MEMBER : THESE TWO APPEAL FILED BY THE REVENUE ARE DISPOSED OF BECAUSE THE TAX EFFECT IN THE APPEAL IS LESS THAN RS. 10 LACS AS PE R THE LATEST CBDT CIRCULAR NO. 21/2015, F. NO. 279/MISC.142/2007-ITJ (PT) DATE D 10 TH DECEMBER, 2015 ISSUED BY CENTRAL BOARD OF DIRECT TAXES, DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, GOVERNMENT OF INDIA. 2. THE LD. SENIOR D.R. SUBMITTED THAT TAX EFFECT IN VOLVED IN THESE TWO APPEAL IS LESS THAN RS. 10 LACS AND THE CBDT CIRCUL AR NO. 21/2015 IS APPLICABLE TO THIS APPEAL AND THE BOTH THE APPEALS NOT MAINTAINABLE/NOT PRESSED IN TERMS OF CBDT CIRCULAR NO 21/2015 DATED 10/12/2015. THE LD. SENIOR DR SUBMITTED THAT AS PER THE LATEST CBDT CIR CULAR NO. 21/2015, F. NO. 279/MISC.142/2007-ITJ (PT) DATED 10 TH DECEMBER, 2015 ISSUED BY CENTRAL ITA 1236/MUM/2006 & ITA2606/MUM/2006 2 BOARD OF DIRECT TAXES, DEPARTMENT OF REVENUE, MINIS TRY OF FINANCE, GOVERNMENT OF INDIA, NO APPEAL SHALL BE FILED BY TH E REVENUE IN RESPECT OF AN ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MONETARY LIMIT SPECIFIED IN PARA 3 OF THE CIRCULAR PARA 3 OF THE CIRCULAR NO. 21/2015 S NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS) 1 BEFORE APPELLATE TRIBUNAL 10,00,000/- 2 BEFORE HIGH COURT 20,00,000/- 3 BEFORE SUPREME COURT 25,00,000/- IN THE SAID CIRCULAR VIDE PARA 10, IT IS STIPULATE D THAT THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEAL S TO BE FILED HENCEFORTH IN HIGH COURTS/TRIBUNALS. PENDING APPEALS BELOW THE S PECIFIED TAX LIMITS IN MAY BE WITHDRAWN/NOT PRESSED. 3. KEEPING IN VIEW THE CBDT CIRCULAR NO. 21/2015 DA TED 10 TH DECEMBER, 2015 WHICH IS APPLICABLE FROM RETROSPECTIVE EFFECT AND IS ALSO APPLICABLE TO PENDING APPEALS AND ALSO IN VIEW OF LD. SENIOR DR S TATING BEFORE US THAT THESE TWO APPEALS ARE NOW NOT MAINTAINABLE/NOT PRESSED IN VIEW OF THE ABOVE CBDT CIRCULAR, WE HOLD THAT THESE TWO APPEALS FILED BY T HE REVENUE WHICH ARE COVERED BY THIS ORDER INVOLVING TAX EFFECT OF LESS THAN RS. 10 LACS ARE NOT MAINTAINABLE AND ARE DISMISSED BEING NOT PRESSED. HOWEVER, THE REVENUE IS AT LIBERTY TO FILE AN APPLICATION FOR RECALL OF THE SE APPEAL IN ACCORDANCE WITH LAW, IF AT ANY STAGE THE REVENUE WANTS TO AGITATE T HE MATTER IN ACCORDANCE WITH THE PROVISIONS/CLAUSES AS CONTAINED IN THE AFO RE-STATED CIRCULAR. WE ORDER ACCORDINGLY. ITA 1236/MUM/2006 & ITA2606/MUM/2006 3 4. IN THE RESULT, BOTH THE APPEALS FILED BY THE REV ENUE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH MAY 2016. # $% &' 18-05-2016 ( ) SD/- SD/- (SAKTIJIT DEY) (RAMIT KOCHAR) JUDICIAL MEMBER ACCOUNTANT MEMBER $ MUMBAI ; & DATED 18-05-2016 [ !'#$%&%# / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. 9 ( ) / THE CIT(A)- CONCERNED, MUMBAI 4. 9 / CIT- CONCERNED, MUMBAI 5. <=( >>?@ , ?@ , $ / DR, ITAT, MUMBAI D BENCH 6. (BC D / GUARD FILE. / BY ORDER, < > //TRUE COPY// / ( DY./ASSTT. REGISTRAR) , $ / ITAT, MUMBAI