DCIT 10(2), MUMBAI V. KUKREJA BUILDERS P.LTD, MUMBAI

ITA 2946/MUM/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4030 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 9 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 29-07-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 17-04-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: G N MAKWANA
• Keywords: Tax effect

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES A, MUMBAI .. , , , BEFORE, SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI JOGINDER SINGH, JUDICIAL MEMBER ITA NO.2946/MUM/2013 ASSESSMENT YEAR:2009-10 DCIT-10(2), ROOM NO.432, 4 TH FLOOR, AAYAKAR BHAVAN, M.K.ROAD MUMBAI-400020 / VS. M/S KUKREJA BUILDERS P. LTD. 4 TH & 5 TH SAIR COMMERCIAL BUILDING, BKS MARG, GOVANDI (EAST) MUMBAI-400088 ( ! / REVENUE) ( '#$% /ASSESSEE) PAN. NO. AACCK5040M ! / REVENUE BY SHRI G.N. MAKWANA '#$% / ASSESSEE BY SHRI NARESH KUMAR & !'(%) / DATE OF HEARING : 02/02/2016 (%) / DATE OF ORDER: 02/02/2016 / O R D E R PER JOGINDER SINGH (JUDICIAL MEMBER) THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER D ATED 12/02/2013 OF THE LD. FIRST APPELLATE AUTHORITY, MU MBAI. ITA NO.2946/MUM/2013 M/S KUKREJA BUILDERS PVT. LTD. 2 2. DURING HEARING OF THIS APPEAL, IT WAS BROUGHT TO THE KNOWLEDGE OF THE BENCH BY THE LD. COUNSEL FOR THE A SSESSEE, SHRI NARESH KUMAR, THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS BELOW PRESCRIBED MONETARY LIMIT. THIS FACTUAL MATRIX WAS CONSENTED TO BE CORRECT BY THE L D. DR, SHRI G. N. MAKWANA. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. IT IS NOT ED THAT THE LD. ASSESSING OFFICER MADE DISALLOWANCE OF RS.5,20, 490/- ON ACCOUNT OF INTEREST FREE LOANS. THE TAX EFFECT INVO LVED IN THE APPEAL IS BELOW PRESCRIBED LIMIT OF RS.10 LAKH FOR FILING THE APPEAL BEFORE THE TRIBUNAL. 2.2. IN VIEW OF THE FACT THAT THE TAX EFFECT IN THE APPEAL IS BELOW PRESCRIBED MONETARY LIMIT, AS CONTAINED IN CB DT INSTRUCTION NO.21 OF 2015, DATED 10/12/2015 (F NO.279/MISC./142/2007-IT(PT), WITH RETROSPECTIVE EF FECT AND ADVISED/DIRECTED THE DEPARTMENT NOT TO FILE APPEAL IN THE CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE FOLLOWING MONETARY LIMIT.:- 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/ - ITA NO.2946/MUM/2013 M/S KUKREJA BUILDERS PVT. LTD. 3 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, THE APPEAL OF THE REVENUE IS NOT MAIN TAINABLE. THEREFORE, IN VIEW OF UNCONTROVERTED CONTENTION OF THE LD. DR AND THE AFOREMENTIONED CIRCULAR NO. 21 OF 2015, DAT ED 10/12/2015 (F NO.279/MISC./142/2007-IT(PT), OF CBDT , THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINA BLE. FINALLY, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF LD. REPRESENTATIVE FROM BOTH SIDES AT T HE CONCLUSION OF THE HEARING ON 02/02/2016. SD/- SD/- ( G.S. PANNU ) (JOGINDER SINGH) '# / ACCOUNTANT MEMBER $# / JUDICIAL MEMBER & ' MUMBAI; + DATED : 02/02/2016 F{X~{T? P.S/. .. %$&'()(*& / COPY OF THE ORDER FORWARDED TO : 1. , -. / THE APPELLANT 2. /0-. / THE RESPONDENT. 3. 11 & 2% ( , ) / THE CIT, MUMBAI. 4. 11 & 2% / CIT(A)- , MUMBAI 5. 4!5/%' , 1, ),'6 , & ' / DR, ITAT, MUMBAI 6. 7#8' / GUARD FILE. / BY ORDER, 04%/% //TRUE COPY// / (DY./ASSTT. REGISTRAR) , & ' / ITAT, MUMBAI