IT.O.25 (3) (1), MUMBAI V. MADHURI RAJESH SHARMA, MUMBAI

ITA 2707/MUM/2018

• Counselvise Citation: [2018] 118 COUNSELVISE.COM (IT) 9139 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-12-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 03-05-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K BEPARI
• Assessee Lawyers: DIVYESH FOTARIA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH SMC MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) ITA NO. 2707/MUM/2018 ASSESSMENT YEAR: 2011 - 12 INCOME TAX OFFICER - 25(3)(1), ROOM NO. 603 C - 10, 6 TH FLOOR, PRATYAKSHAKARBHAVAN, BANDRAKURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051. VS. MADHURI RAJESH SHARMA 16, NAVAL PALACE, NARIMAN ROAD, VILE PARLE (EAST) MUMBAI - 400057 PAN NO. AMSPS7271F APPELLANT RESPONDENT REVENUE BY : MR. S.K. BEPARI, DR ASSESSEE BY : MR. DIVYESH FOTARIA, AR DATE OF HEARING : 06/12/2018 DATE OF PRONOUNCEMENT : 14/12/2018 ORDER PER N.K. PRADHAN , A.M. THE CENTRAL BOARD OF DIRECT TAXES (CBDT) VIDE CIRCULAR NO. 3/2018 DATED 11.07.2018 HAS SPECIFIED THAT APPEALS SHALL NOT BE FILED BEFORE THE INCOME TAX APPELLATE TRIBUNAL (ITAT) IN CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE MONETARY LIMIT OF RS.20,00,00 0/ - . FOR THIS PURCHASE, TAX EFFECT MEANS THE DIFFERENCE BETWEEN THE TAX ON THE TOTAL INCOME ASSESSED AND THE TAX THAT WOULD HAVE BEEN CHARGEABLE HAD SUCH TOTAL INCOME BEEN REDUCED BY THE AMOUNT OF INCOME IN RESPECT OF ISSUES AGAINST WHICH APPEAL IS INTEN DED TO BE FILED. FURTHER, TAX EFFECT SHALL BE MADHURI RAJESH SHARAM ITA NO. 2707/MUM/2018 2 TAXES INCLUDING APPLICABLE SURCHARGE AND CESS. HOWEVER, THE TAX WILL NOT INCLUDE ANY INTEREST THEREON, EXCEPT WHERE CHARGEABILITY OF INTEREST ITSELF IS IN DISPUTE. IN CASE THE CHARGEABILITY OF INTEREST IS THE ISSUE UNDER DISPUTE, THE AMOUNT OF INTEREST SHALL BE THE TAX EFFECT. IN CASES WHERE RETURNED LOSS IS REDUCED OR ASSESSED AS INCOME, THE TAX EFFECT WOULD INCLUDE NOTIONAL TAX ON DISPUTED ADDITIONS. IN CASE OF PENALTY ORDER, THE TAX EFFECT WILL MEAN QUANTUM OF PENALTY DELETED OR REDUCED IN THE ORDER TO BE APPEALED AGAINST. 2. IN THE CAPTIONED APPEAL , THE LD. COUNSEL OF THE ASSESSEE SUBMITS THAT THE TAX EFFECT DOES NOT EXCEED THE MO NETARY LIMIT OF RS.20,00,000/ - AND IT IS FAIRLY AGREED BY THE LD. DR. AT PAR A 13 OF THE ABOVE CIRCULAR, IT HAS BEEN MENTIONED THAT: 13. THIS CIRCULAR WILL APPLY TO SLPS/APPEALS/CROSS OBJECTION/REFERENCES TO BE FILED HENCEFORTH IN SC/HCS/TRIBUNAL AND IT SHALL ALSO APPLY RETROSPECTIVELY TO PENDING SLPS/APPEALS/CROSS OBJECTIONS/RE FERENCES. PENDING APPEALS BELOW THE SPECIFIED TAX LIMITS IN PARA 3 ABOVE MAY BE WITHDRAWN/NOT PRESSED. 3 . THUS THE PRESENT APPEAL FILED BY THE REVENUE INVOLVING TAX EFFECT OF LESS THAN RS.20,00,000/ - IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 14/12/2018 SD/ - SD/ - (SAKTIJIT DEY) (N.K. PRADHAN) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED: 14/12/2018 RAHUL SHARMA, SR. P.S. MADHURI RAJESH SHARAM ITA NO. 2707/MUM/2018 3 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// (SR. PRIVATE SECRETARY) ITAT, MUMBAI