ACIT - 2(2)(1), MUMBAI V. JAYEM PROPERTIES PVT. LTD., MUMBAI

ITA 2854/MUM/2017

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 3911 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2012-2013
• Appeal Filed On: 20-04-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ABDUL HAKEEM M
• Assessee Lawyers: VIDHI DOSHI
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL 'J' BENCH, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, JUDICIAL MEMBER ITA NO. 2854/MUM/2017 (ASSESSMENT YEAR: 2012-13) A C I T - 2(2 )(1) ROOM NO. 545, 5TH FLOOR AAYAKAR BHAVAN, M.K. ROAD MUMBAI 400020 VS. M/S. JAYEM PROPERTIES P. LTD . 18, ALI CHAMBERS, 2 ND FLOOR NAGINDAS MASTER ROAD FORT, MUMBAI 400001 PAN AABCJ9225C APPELLANT RESPONDENT APPELLANT BY: SHRI ABDUL HAKEEM M RESPONDENT BY: SHRI VIDHI DOSHI DATE OF HEARING: 30.08.2018 DATE OF PRONOUNCEMENT: 30.08.2018 O R D E R PER RAVISH SOOD, JM THE CAPTIONED APPEAL FILED BY THE REVENUE PERTAININ G TO A.Y. 2012-13 IS DIRECTED AGAINST THE ORDER PASSED BY THE CIT(A)- 5, MUMBAI DATED 01.01.2017 WHICH IN TURN ARISES OUT OF AN ORDER PAS SED BY THE ASSESSING OFFICER UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER 'THE ACT') DATED 30.03.2015. 2. THE LEARNED A.R., IN ORDER TO SUBSTANTIATE HIS CLAI M THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL WAS BELOW THE STIPULATED LIMIT AS CONTEMPLATED IN THE CBDT, VIDE CIRCULAR NO. 3/2018 DATED 11.07.2018, HAD PLACED ON RECORD A COMPUTATION OF TAX EFFECT, PERUSAL OF WHICH REVEALS THAT THE TAX EFFECT INVOLVED WAS TO THE EXT ENT OF ` 8,86,745/-. THE AFORESAID FACTUAL POSITION HAS NOT BEEN CONTROVERTE D BY THE LEARNED D.R. 3. THE CBDT, VIDE CIRCULAR NO. 3/2018 DATED 11.07.2018 , HAS REVISED THE MONETARY LIMIT FOR FILING OF APPEALS BY THE DEP ARTMENT BEFORE THE TRIBUNAL WITH RETROSPECTIVE EFFECT. THE TAX EFFECT IN DISPUTE IN THE CAPTIONED APPEAL IS STATED TO BE BELOW THE MONETARY LIMIT OF ` 20 LAKHS SPECIFIED IN THE CBDT CIRCULAR DATED 11.07.2018 (SUPRA). ITA NO. 2854/MUM/2017 M/S. JAYEM PROPERTIES P. LTD. 2 4. IN THIS BACKGROUND, THE LEARNED D.R. APPEARING FOR THE REVENUE WAS REQUIRED TO STATE HIS POSITION; HE HAS NOT REFERRED TO ANY MATERIAL WHICH WOULD SHOW THAT THE CAPTIONED APPEAL IS PROTECTED B Y ANY OF THE EXCEPTIONS PROVIDED IN PARA 10 OF THE CBDT CIRCULAR (SUPRA). 5. WITHOUT GOING INTO THE MERIT OF THE ISSUE RAISED, THE CAPTIONED APPEAL IS DEEMED TO BE WITHDRAWN/NOT PRESSED AS IT S FILING IS NOT IN CONSONANCE WITH THE CBDT CIRCULAR DATED 11.07.2018 (SUPRA). BEFORE PARTING WE MAY CLARIFY THAT IF ON A LATER DATE, THE REVENUE FINDS THAT FILING OF THE APPEAL IS PROTECTED BY THE EXCEPTIONS PROVID ED IN PARA 10 OF THE CBDT CIRCULAR (SUPRA), IT SHALL BE AT LIBERTY TO AP PROACH THE TRIBUNAL FOR RECALL OF THE ORDER AND REINSTITUTION OF THE APPEAL FOR ADJUDICATION ON MERITS. THE TRIBUNAL SHALL CONSIDER SUCH APPLICATIO N, IF ANY, AS PER THE EXTANT LAW. 6. IN CONCLUSION, BY APPLYING THE CBDT CIRCULAR DATED 11.07.2018 (SUPRA), THE CAPTIONED APPEAL OF THE REVENUE IS DIS MISSED AS WITHDRAWN/ NOT PRESSED. ABOVE DECISION WAS PRONOUNCED IN THE OPEN COURT AT THE CONCLUSION OF HEARING ON 30 TH AUGUST, 2018. SD/ - SD/ - (G.S. PANNU) (RAVISH SOOD) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 30 TH AUGUST, 2018 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) -5, MUMBAI 4. THE PR. CIT - 2, MUMBAI 5. THE DR, L BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI N.P.