DCIT 1(3)(1), MUMBAI V. RESIDENCY FOODS BEVERAGES LTD, MUMBAI

ITA 2684/MUM/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4558 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 31-12-2015
• Assessment Year: 2010-2011
• Appeal Filed On: 08-05-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K DHONDIAL J
• Keywords: Retrospective amendment; Tax effect

Judgement Text

, - , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES SMC, MUMBAI , ! ' , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, ITA NO.2684/MUM/2015 ASSESSMENT YEAR: 2010-11 DCIT-1(3)(1), 564, 5 TH FLOOR, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI-400020 / VS. M/S RESIDENCY FOODS & BEVERAGES LTD. 3 RD FLOOR, MANDLIK HOUSE, MANDLIK ROAD, COLABA, MUMBAI-400001 / REVENUE / ASSESSEE P.A. NO. AAACR4113J $ % & / REVENUE BY SHRI A.K.DHONDIAL JCIT-DR $ % & / ASSESSEE BY SHRI DHARMESH SHAH / DATE OF HEARING 07/01/2016 & / DATE OF ORDER: 07/01/2016 & / O R D E R THE ASSESSEE IS AGGRIEVED BY THE IMPUGNED ORDER DA TED 20/02/2015 OF THE LD. FIRST APPELLATE AUTHORITY, MU MBAI. 2. AT THE OUTSET, IT WAS POINTED OUT BY THE LD. CO UNSEL FOR THE ASSESSEE, SHRI DHARMESH SHAH, THAT THE TAX EFFECT IN ITA NO.2684/MUM/2015 M/S RESIDENCY FOODS & BEVERAGES LTD. 2 THE PRESENT APPEAL IS BELOW PRESCRIBED MONETARY LIM IT. THIS FACTUAL MATRIX WAS CONSENTED TO BE CORRECT BY THE L D. DR, SHRI A.K. DHONDIAL. 2.1. I HAVE CONSIDERED THE SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. I NOTE THAT TOTAL INCOME COMPUTED BY THE ASSESSING OFFICER IS RS.11,62,978/- , THUS, THE TAX EFFECT IS BELOW PRESCRIBED MONETARY LIMIT. ON QUESTIONING BY THE BENCH FROM THE LD. DR WITH RESPE CT TO TAX EFFECT, IT WAS FAIRLY CONSENTED BY HIM THAT THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW THE PRESCRIBED MONETARY LIM IT OF RS.10 LAKH. IT IS ALSO NOTED THAT THE LD. FIRST APP ELLATE AUTHORITY GRANTED RELIEF TO THE ASSESSEE DELETING T HE ADDITION MADE BY THE ASSESSING OFFICER AND DECIDED THE APPEA L IN FAVOUR OF THE ASSESSEE. 2.2. IN VIEW OF THE FACT THAT THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW PRESCRIBED MONETARY LIMIT, AS CONTAINED IN CBDT INSTRUCTION NO.3/2011 DATED 09/02/2011, FURTHER INSTRUCTION NO.5/2014 (F NO.279/MISC./142/2007-IT(PT) DATED 10/07/2014, THE CBDT REVISED THE MONETARY LIMIT FOR FILING THE APPEAL BE FORE VARIOUS AUTHORITIES/COURTS VIDE CBDT CIRCULAR NO.21 OF 2015 , DATED 10/12/2015 (F NO.279/MISC./142/2007-IT(PT), WITH RETROSPECTIVE EFFECT AND ADVISED/DIRECTED THE DEPAR TMENT NOT TO FILE APPEAL IN THE CASES WHERE THE TAX EFFECT DO ES NOT EXCEED THE FOLLOWING MONETARY LIMIT.:- ITA NO.2684/MUM/2015 M/S RESIDENCY FOODS & BEVERAGES LTD. 3 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/ - AS PER THE AFORESAID INSTRUCTION/REVISED MONETARY L IMIT, THE DEPARTMENT IS NOT TO FILE APPEAL BEFORE THE TRI BUNAL, WHEREIN, THE TAX EFFECT IS LESS THAN RS.10,00,000/- , CONSEQUENTLY, THIS APPEAL OF THE REVENUE IS NOT MAI NTAINABLE. THEREFORE, IN VIEW OF UNCONTROVERTED CONTENTION OF THE LD. DR WITH RESPECT TO PRESCRIBED MONETARY LIMIT AND THE AFOREMENTIONED CIRCULAR OF CBDT, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. FINALLY, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN T HE PRESENCE OF LD. REPRESENTATIVE FROM BOTH SIDES AT T HE CONCLUSION OF THE HEARING ON 07/01/2016. SD/- (JOGINDER SINGH) ! ' / JUDICIAL MEMBER MUMBAI; DATED : 07/01/2016 F{X~{T? P.S / ! & $ )!*+ ,&+-* / COPY OF THE ORDER FORWARDED TO : 1. '#$%& / THE APPELLANT 2. '(%& / THE RESPONDENT. ITA NO.2684/MUM/2015 M/S RESIDENCY FOODS & BEVERAGES LTD. 4 3. ) ) * ( '#$ ) / THE CIT, MUMBAI. 4. ) ) * / CIT(A)- , MUMBAI 5. -./ ' , ) '#$ ' 1 , / DR, ITAT, MUMBAI 6. /2 3$ / GUARD FILE. & / BY ORDER, (-# ' //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI