DCIT,CC- 2(4), MUMBAI V. SHRUTI ART PVT. LTD., MUMBAI

ITA 2644/MUM/2016

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 4594 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 6 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-11-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2004-2005
• Appeal Filed On: 11-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 153A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL E , BENCH MUMBAI BEFORE SHRI MAHAVIR SINGH , JM & SHRI M.BALAGANESH, AM ITA NO. 2644 /MUM/201 6 ( ASSESSMENT YEAR : 2004 - 05) ITA NO. 2645 /MUM/201 6 ( ASSESSMENT YEAR : 2005 - 06) ITA NO. 2646 /MUM/201 6 ( ASSESSMENT YEAR : 2006 - 07) ITA NO. 2648 /MUM/201 6 ( ASSESSMENT YEAR : 2008 - 09) DY. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 2(4) OLD CGO BUILDING 8 TH FLOOR, M.K.ROAD MUMBAI 400 020 VS. M/S. SHRUTI ART PVT. LTD. 26/A, NEW SURYA KIRAN CO - OP HOUSING SOCIETY HUGES ROAD MUMBAI 400 026 PAN/GIR NO. AAFPS1984E (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI MANJUNATHA SWAMI ASSESSEE BY SHRI VIRAJ MEHTA DATE OF HEARING 07 / 11 /2019 DATE OF PRONOUNCEMENT 07 / 11 /2019 / O R D E R PER BENCH: THESE APPEAL S IN ITA NO S . 2644/MUM/2016, 2645/MUM/2016, 2646/MUM/2016 & 2648/MUM/2016 FOR A.Y RS . 2004 - 05, 2005 - 06, 2006 - 07 & 2008 - 09 ARISE OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 48, MUMBAI IN APPEAL NO. CIT(A) - 48/IT - 460/DCCC - 14/2013 - 14 , CIT(A) - 48/IT - 46 1/DCCC - 14/2013 - 14, CIT(A) - 48/IT - 462/DCCC - 14/2013 - 14 & CIT(A) - 48/IT - 464/DCCC - 14/2013 - 14 RESPECTIVELY DATED 28/01/2016 (LD. ITA NO. 2644/MUM/2016 AND OTHER APPEALS M/S. SHRUTI ART PVT. LTD. 2 CIT(A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S.143(3) R.W.S. 153A OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 28/03/2013 BY THE LD. DY. COMMISSIONER OF INCOME TAX, MUMBAI (HEREINAFTER REFERRED TO AS LD. AO). A.Y. DISPUTED ADDITION TAX EFFECT 2004 - 05 77,16,112 27,68,541 2005 - 06 71,49,647 26,16,771 2006 - 07 1,27,27,583 42 , 84 , 104 2008 - 09 1,44,92,381 49 ,25,960 2. BOTH THE PARTIES BEFORE US MUTUALLY AGREED THAT THESE REVENUE APPEALS ARE TO BE DISMISSED AS NOT MAINTAINABLE IN VIEW OF THE RECENT CIRCULAR ISSUED BY THE CBDT DATED 08/08/2019 WHEREIN THE REVENUE HAS BEEN DIRECTED TO WITHDRAW THE APPEALS PRE FERRED BY THEM BEFORE THE TRIBUNAL IF THE TAX EFFECT ON THE DISPUTED ISSUES IS LESS THAN OR EQUAL TO RS.50,00,000/ - . IT IS WELL SETTLED THAT THIS CIRCULAR IS BINDING ON THE REVENUE AUTHORITIES. 3. RESPECTFULLY FOLLOWING THE SAID CIRCULAR, THE APPEALS FILE D BY THE REVENUE ARE DISMISSED AS NOT MAINTAINABLE. 4. INCASE, IF THE REVENUE IS ABLE TO PROVIDE EVIDENCE THAT THE CASE FALLS UNDER ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCULAR ISSUED BY THE CBDT, THEN THE REVENUE MAY PREFER MISCELLANEOUS APPLICATION FO R RECALLING OF THIS ORDER, IF THEY SO DESIRE, IN WHICH CIRCUMSTANCE THIS ORDER SHALL BE RECALLED BY THIS TRIBUNAL. ITA NO. 2644/MUM/2016 AND OTHER APPEALS M/S. SHRUTI ART PVT. LTD. 3 5. IN THE RESULT, APPEALS FILED BY THE REVENUE ARE DISMISSED AS NOT MAINTAINABLE. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 07 / 11 /201 9 SD/ - ( MAHAVIR SINGH ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 07 / 11 / 2019 KARUNA , SR.PS COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MU MBAI 1. THE APPELLANT 2. THE RES PONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//