ACIT 4(2)(1), MUMBAI V. UDAY SURESH SHAH, MUMBAI

ITA 278/MUM/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 5596 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2010-2011
• Appeal Filed On: 13-01-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: POOJASWAROOP LD SR DR
• Assessee Lawyers: SANJAY PARIKHLD
• Keywords: Tax effect
• Section: 143(3); 14A; 263

Judgement Text

ITA.NO.278/MUM/2017 UDAY SURESH SHAH ASSESSMENT YEAR-2010-11 IN THE INCOME TAX APPELLATE TRIBUNAL F BENCH, MUMBAI , BEFORE SHRI SAKTIJIT DEY, JM AND SHRI MANOJ KUMAR AGGARWAL, AM I.T.A. NO.278/MUM/2017 ( ASSESSMENT YEAR:2010-11) ASSISTANT COMMISSIONER OF INCOME TAX-4(2)(1) ROOM NO.642, 6 TH FLOOR AAYKARBHAVAN, M.K.ROAD MUMBAI-400 020 VS. UDAY SURESH SHAH 701,301 EMPORIS TPS IV 1 ST ROAD NEAR ALMENDA GARDEN BANDRA(WEST) MUMBAI-400 056 ! ' PAN/GIR NO. AADPS-1761-P ( !# APPELLANT ) : ( $%!# RESPONDENT ) ASSESSEE BY : SANJAY PARIKH, LD. AR REVENUE BY : POOJA SWAROOP, LD. SR.DR & DATE OF HEARING : 23/07/2018 '() / DATE OF PRONOUNCEMENT : 31/07/2018 O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. THE CAPTIONED APPEAL BY REVENUE FOR ASSESSMENT Y EAR [AY] 2010- 11 CONTEST THE ORDER OF LD. COMMISSIONER OF INCOME- TAX (APPEALS)-09 [CIT(A)], MUMBAI, APPEAL NO.CIT(A)-9/CIR.4/576/2015-16 DATED 05/10/2016 QUA DELETION OF DISALLOWANCE U/S 14A FOR RS.58.30 LACS AS ITA.NO.278/MUM/2017 UDAY SURESH SHAH ASSESSMENT YEAR-2010-11 2 MADE BY LD. AO IN AN ASSESSMENT U/S 143(3) READ WIT H SECTION 263 ON27/02/2016. 2. AT THE OUTSET, LD. AUTHORIZED REPRESENTATIVE FOR ASSESSEE DREW OUR ATTENTION TO THE FACT THAT THE TAX EFFECT OF THE QU ANTUM ADDITIONS AS CONTESTED BY THE REVENUE IS LESS THAN PRESCRIBED LI MIT OF RS.20 LACS AND THE SAME IS COVERED BY RECENTLY ISSUED LOW TAX EFFECT CIRCULAR NO.03/2018 DATED 11/07/2018 ISSUED BY CENTRAL BOARD OF DIRECT TAXES [CBDT]. THE LD. DR, MS. POOJA SWAROOP, HAS CONTROVERTED THE SAME BY SUBMITTING THAT NECESSARY INSTRUCTIONS / CERTIFICAT E, IN THIS REGARD, WOULD BE REQUIRED FROM HIGHER AUTHORITIES. 3. WE HAVE GONE THROUGH THE CIRCULAR AND FIND THAT THE TAX EFFECT OF QUANTUM IN DISPUTE IS BELOW PRESCRIBED LIMIT OF RS. 20 LACS AND THE ASSESSEE STOOD BENEFITTED BY THE ABOVE CIRCULAR ISS UED BY CBDT WHEREIN THE MINIMUM MONETARY LIMIT FOR FILING THE A PPEALS BEFORE VARIOUS APPELLATE AUTHORITIES HAVE BEEN FIXED AS UNDER:- S. NO. APPEALS/ SLPS IN INCOME - TAX MATTERS MONETARY LIMIT (RS.) 1 BEFORE APPELLATE TRIBUNAL 20.00,000 2 BEFORE HIGH COURT 50.00,000 3 BEFORE SUPREME COURT 1,00.00,000 THE AFORESAID LIMITS, AS PER PARA 13 OF THE CIRCULAR APPLIES TO PENDING APPEALS ALSO. IN VIEW OF THE ADMITTED POSITION, WE DISMISS THE REVENUES APPEAL. 4. SO FAR AS THE CONTENTIONS RAISED BY LD. DR IS CO NCERNED, WE FIND THAT AFORESAID CIRCULAR DOES NOT ENVISAGE OBTAINING OF ANY CERTIFICATE FROM ANY AUTHORITIES, IN ANY MANNER. NEVERTHELESS, THE R EVENUE IS FREE TO ITA.NO.278/MUM/2017 UDAY SURESH SHAH ASSESSMENT YEAR-2010-11 3 MOVE APPROPRIATE APPLICATION TO RECALL THIS ORDER, IF AT A LATER STAGE, IT IS FOUND THAT THE MATTER IS COVERED BY ANY EXCEPTIONS PROVIDED IN THE AFORESAID CIRCULAR. 5. THE APPEAL STAND DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 31 ST JULY, 2018 SD/- SD/- (SAKTIJIT DEY) (M ANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER *& MUMBAI; DATED : 31.07.2018 SR.PS:-THIRUMALESH COPY OF THE ORDER FORWARDED TO : 1. !# / THE APPELLANT 2. $%!# / THE RESPONDENT 3. / THE CIT(A) 4. / CIT CONCERNED 5. + ,$ - -) *& / DR, ITAT, MUMBAI 6. , ./0 & GUARD FILE ! / BY ORDER, ' !# $ (DY./ASSTT.REGISTRAR) *& / ITAT, MUMBAI