DCIT CIR 11(2)(2), MUMBAI V. SYSTEM AD SOLUTIONS INDIA P.LTD, MUMBAI

ITA 3052/MUM/2017

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 1759 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-11-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: J
• Assessment Year: 2010-2011
• Appeal Filed On: 27-04-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: CHAUDHARY ARUN KUMAR SINGH
• Keywords: Audit objection; Tax effect
• Section: 115JB

Judgement Text

I.T.A. NO.3052 /MUM/2017 1 G IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY , JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ./ I.T.A. NO.3052 / MUM/2017 ( / ASSESSMENT YEAR : 201 0 - 1 1 ) DEPUTY COMMISSIONER OF INCOME - TAX - CIRCLE - 11(2)(2) 421, 4 TH FLOOR AAYKAR BHAVAN M. K. ROAD MUMBAI - 4000 20 / V. SYSTEM AD SOLUTION INDIA PRIVATE LIMITED HEX 231/1, UMADAN HOUSE, NEAR KALINA CHURCH, SANTACRUZ(E), MUMBAI - 400029 ./ PAN : A AICS8005J ( / APPELLANT ) .. ( / RESPONDENT ) REVENUE BY : SHRI CHAUDHARY ARUN KUMAR SINGH, DR ASSESSEE BY: SHRI. VIMAL PUNMIYA / DATE OF HEARING : 1 4 .11 .2018 / DATE OF PRONOUNCEMENT : 1 4 .11 .2018 / O R D E R PER RAMIT KOCHAR, ACCOUNTANT MEMBER : THIS APPEAL FILED BY THE REVENUE IN ITA NO. 3052 /MUM/2017 IS DISPOSED OF BECAUSE TH E TAX EFFECT IN THE APPEAL IS LESS THAN RS. 20 LACS AS PER THE CBDT CIRCULAR NO. 3/2018, F. NO. 279/MISC.142/2007 - ITJ (PT) DATED 11 TH JULY, 2018 ISSUED BY CENTRAL BOARD OF DIRECT TAXES, DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, GOVERNMENT OF INDIA. 2. TH E LD. AR SUBMITTED THAT TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS. 20 LACS AND THE CBDT CIRCULAR NO. 3/2018 IS APPLICABLE TO THIS APPEAL AND THIS APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE IN TERMS OF CBDT CIRCULAR NO 3/2018 DATED 11.07.2018 . THE SAID CBDT CIRCULAR DATED 11.07.2018 IS REPRODUCED AS HERE UNDER: - I.T.A. NO.3052 /MUM/2017 2 CIRCULAR NO. 3/2018 F NO 279/MISC. 142/2007 - ITJ (PT) GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD DIRECT TAXES NEW DE LHI THE 11 TH JULY, 2018 SUBJECT: REVISION OF MONETARY LIMITS FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TRIBUNAL, HIGH COURTS AND SLPS/APPEALS BEFORE SUPRE ME COURT - MEASURES FOR REDUCING LITIGATION - REG. REFERENCE IS INVITED TO BOARD'S CIRCULAR NO. 21 OF 2015 DATED 10.12.2015 WHEREIN MONETARY LIMITS AND OTHER CONDITIONS FOR FILING DEPARTMENTAL APPEALS (IN INCOME - TAX MATTERS) BEFORE INCOME TAX APPELLATE TRIBUNAL, HIGH COURTS AND SLPS/ APPEALS BEFORE SUPREME COURT WERE SPECIFIED. 2. IN SUPERSESSION OF THE ABOVE CIRCULAR, IT HAS BEEN DECIDED BY THE BOARD THAT DEPARTMENTAL APPEALS MAY BE FILED ON MERITS BEFORE INCOME TAX APPELLATE TRIBUNAL AND HIGH COURTS AND SLPS/ APPEALS BEFORE SUPREME COURT KEEPING IN VIEW THE MONETARY LIMITS AN D CONDITIONS SPECIFIED BELOW. 3. HENCEFORTH, APPEALS/ SLPS SHALL NOT BE FILED IN CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE MONETARY LIMITS GIVEN HEREUNDER: S. NO. APPEALS/ SLPS IN INCOME - TAX MATTERS MONETARY LIMIT (RS.) 1, BEFORE APPELLATE TR IBUNAL 20,00,000 2. BEFORE HIGH COURT 50,00,000 3. BEFORE SUPREME COURT 1,00,00,000 IT IS CLARIFIED THAT AN APPEAL SHOULD NOT BE FILED MERELY BECAUSE THE TAX EFFECT IN A CASE EXCEEDS THE MONETARY LIMITS PRESCRIBED ABOVE. FILING OF APPEAL IN SU CH CASES IS TO BE DECIDED ON MERITS OF THE CASE. 4. FOR THIS PURPOSE, 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 THE ISSUES AGAINST WHICH APPEAL IS INTENDED TO BE FILED (HEREINAFTER REFERRED TO AS 'DISPUTED ISSUES'). FURTHER, 'TAX EFFECT SHALL BE TAX INCLUDING APPLICABLE SURCHARGE AND CESS. HOWEVER, THE TAX WILL NOT INCLUDE ANY INTEREST THEREON, EXCEPT W HERE 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 INCLU DE NOTIONAL TAX ON DISPUTED ADDITIONS. IN CASE OF PENALTY ORDERS, THE TAX EFFECT WILL MEAN QUANTUM OF PENALTY DELETED OR REDUCED IN THE ORDER TO BE APPEALED AGAINST. 5. THE ASSESSING OFFICER SHALL CALCULATE THE TAX EFFECT SEPARATELY FOR EVERY ASSESSMENT Y EAR IN RESPECT OF THE DISPUTED ISSUES IN THE CASE OF EVERY ASSESSEE. IF, IN THE CASE OF AN ASSESSEE, THE DISPUTED ISSUES ARISE IN MORE THAN ONE ASSESSMENT YEAR, APPEAL CAN BE FILED IN RESPECT OF SUCH ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IN RESP ECT OF THE DISPUTED ISSUES EXCEEDS THE MONETARY LIMIT SPECIFIED IN PARA 3. NO APPEAL SHALL BE FILED IN RESPECT OF AN ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MONETARY LIMIT SPECIFIED IN PARA 3. IN OTHER WORDS, HENCEFORTH, APPEALS C AN BE FILED ONLY WITH REFERENCE TO THE TAX EFFECT IN THE RELEVANT ASSESSMENT I.T.A. NO.3052 /MUM/2017 3 YEAR. HOWEVER, IN CASE OF A COMPOSITE ORDER OF ANY HIGH COURT OR APPELLATE AUTHORITY, WHICH INVOLVES MORE THAN ONE ASSESSMENT YEAR AND COMMON ISSUES IN MORE THAN ONE ASSESSMENT YE AR, APPEALS SHALL BE FILED IN RESPECT OF ALL SUCH ASSESSMENT YEARS EVEN IF THE TAX EFFECT IS LESS THAN THE PRESCRIBED MONETARY LIMITS IN ANY OF THE YEAR(S), IF IT IS DECIDED TO FILE APPEAL IN RESPECT OF THE YEAR(S) IN WHICH TAX EFFECT EXCEEDS THE MONETARY LIMIT PRESCRIBED. IN CASE WHERE A COMPOSITE ORDER/ JUDGEMENT INVOLVES MORE THAN ONE ASSCSSEE, EACH ASSESSEE SHALL BE DEALT WITH SEPARATELY. 6. FURTHER, WHERE INCOME IS COMPUTED UNDER THE PROVISIONS OF SECTION 115JB OR SECTION 115JC, FOR THE PURPOSES OF D ETERMINATION OF 'TAX EFFECT', TAX ON THE TOTAL INCOME ASSESSED SHALL BE COMPUTED AS PER THE FOLLOWING FORMULA - (A B) + (C D) WHERE, A = THE TOTAL INCOME ASSESSED AS PER THE PROVISIONS OTHER THAN THE PROVISIONS CONTAINED IN SECTION 115JB OR SECTION 1 15JC (HEREIN CALLED GENERAL PROVISIONS); B = THE TOTAL INCOME THAT WOULD HAVE BEEN CHARGEABLE HAD THE TOTAL INCOME ASSESSED AS PER THE GENERAL PROVISIONS BEEN REDUCED BY THE AMOUNT OF THE DISPUTED ISSUES UNDER GENERAL PROVISIONS; C = THE TOTAL INCOME ASS ESSED AS PER THE PROVISIONS CONTAINED IN SECTION 115JB OR SECTION 115JC; D = THE TOTAL INCOME THAT WOULD HAVE BEEN CHARGEABLE HAD THE TOTAL INCOME ASSESSED AS PER THE PROVISIONS CONTAINED IN SECTION 115JB OR SECTION 115JC WAS REDUCED BY THE AMOUNT OF DISP UTED ISSUES UNDER THE SAID PROVISIONS: HOWEVER, WHERE THE AMOUNT OF DISPUTED ISSUES IS CONSIDERED BOTH UNDER THE PROVISIONS CONTAINED IN SECTION 115JB OR SECTION 115JC AND UNDER GENERAL PROVISIONS, SUCH AMOUNT SHALL NOT BE REDUCED FROM TOTAL INCOME ASSES SED WHILE DETERMINING THE AMOUNT UNDER ITEM D. 7. IN A CASE WHERE APPEAL BEFORE A TRIBUNAL OR A COURT IS NOT FILED ONLY ON ACCOUNT OF THE TAX EFFECT BEING LESS THAN THE MONETARY LIMIT SPECIFIED ABOVE, THE PR. COMMISSIONER OF INCOME - TAX/ COMMISSIONER OF I NCOME TAX SHALL SPECIFICALLY RECORD THAT 'EVEN THOUGH THE DECISION IS NOT ACCEPTABLE, APPEAL I S NOT BEING FILED ONLY ON THE CONSIDERATION THAT THE TAX EFFECT IS LESS THAN THE MONETARY LIMIT SPECIFIED IN THIS CIRCULAR'. FURTHER, IN SUCH CASES, THERE WILL BE NO PRESUMPTION THAT THE INCOME - TAX DEPARTMENT HAS ACQUIESCED IN THE DECISION ON THE DISPUTED ISSUES. THE INCOME - TAX DEPARTMENT SHALL NOT BE PRECLUDED FROM FILING AN APPEAL AGAINST THE DISPUTED ISSUES IN THE CASE OF THE SAME ASSESSEE FOR ANY OTHER ASSESSME NT YEAR, OR IN THE CASE OF ANY OTHER ASSESSEE FOR THE SAME OR ANY OTHER ASSESSMENT YEAR, IF THE TAX EFFECT EXCEEDS THE SPECIFIED MONETARY LIMITS. 8. IN THE PAST, A NUMBER OF INSTANCES HAVE COME TO THE NOTICE OF THE BOARD, WHEREBY AN ASSESSEE HAS CLAIMED R ELIEF FROM THE TRIBUNAL OR THE COURT ONLY ON THE GROUND THAT THE DEPARTMENT HAS IMPLICITLY ACCEPTED THE DECISION OF THE TRIBUNAL OR COURT IN THE CASE OF THE ASSESSEE FOR ANY OTHER ASSESSMENT YEAR OR IN THE CASE OF ANY OTHER ASSESSEE FOR THE SAME OR ANY OTH ER ASSESSMENT YEAR, BY NOT FILING AN APPEAL ON THE SAME DISPUTED ISSUES. THE DEPARTMENTAL REPRESENTATIVES/COUNSELS MUST MAKE EVERY EFFORT TO BRING TO THE NOTICE OF THE TRIBUNAL OR THE COURT THAT THE APPEAL IN SUCH CASES WAS NOT FILED OR NOT ADMITTED ONLY F OR THE REASON OF THE TAX EFFECT BEING LESS THAN THE SPECIFIED MONETARY LIMIT AND, THEREFORE, NO INFERENCE SHOULD BE DRAWN THAT THE DECISIONS RENDERED THEREIN WERE ACCEPTABLE TO THE DEPARTMENT. ACCORDINGLY, THEY SHOULD IMPRESS UPON THE TRIBUNAL OR THE COURT THAT SUCH CASES DO NOT HAVE ANY PRECEDENT VALUE AND ALSO BRING TO THE NOTICE OF THE TRIBUNAL/ COURT THE PROVISIONS OF SUB SECTION (4) OF SECTION 268A OF THE INCOME - TAX ACT, 1961 WHICH READ AS UNDER : '(4) THE APPELLATE TRIBUNAL OR COURT, HEARING SUCH AP PEAL OR REFERENCE, SHALL HAVE REGARD TO THE ORDERS, INSTRUCTIONS OR DIRECTIONS ISSUED UNDER SUB - SECTION ( 1 ) AND THE CIRCUMSTANCES UNDER WHICH SUCH APPEAL OR APPLICATION FOR REFERENCE WAS FILED OR NOT FILED IN RESPECT OF ANY CASE.' I.T.A. NO.3052 /MUM/2017 4 9 AS THE EVIDENCE OF NOT FILING APPEAL DUE TO THIS CIRCULAR MAY HAVE TO BE PRODUCED IN COURTS, THE JUDICIAL FOLDERS IN THE OFFICE OF PR.CSIT/ CSIT MUST BE MAINTAINED IN A SYSTEMIC MANNER FOR EASY RETRIEVAL. 10. ADVERSE JUDGMENTS RELATING TO THE FOLLOWING ISSUES SHOULD BE CONTES TED ON MERITS NOTWITHSTANDING THAT THE TAX EFFECT ENTAILED IS LESS THAN THE MONETARY LIMITS SPECIFIED IN PARA 3 ABOVE OR THERE IS NO TAX EFFECT: (A) WHERE THE CONSTITUTIONAL VALIDITY OF THE PROVISIONS OF AN ACT OR RULE IS UNDER CHALLENGE, OR (B) WHERE B OARD'S ORDER, NOTIFICATION, INSTRUCTION OR CIRCULAR HAS BEEN HELD TO BE ILLEGAL OR ULTRA VIRES, OR (C) WHERE REVENUE AUDIT OBJECTION IN THE CASE HAS BEEN ACCEPTED BY THE DEPARTMENT, OR (D) WHERE THE ADDITION RELATES TO UNDISCLOSED FOREIGN ASSETS/ BANK ACCOUNTS. 11. THE MONETARY LIMITS SPECIFIED IN PARA 3 ABOVE SHALL NOT APPLY TO WRIT MATTERS AND DIRECT TAX MATTERS OTHER THAN INCOME TAX. FILING OF APPEALS IN OTHER DIRECT TAX MATTERS SHALL CONTINUE TO BE GOVERNED BY RELEVANT PROVISIONS OF STATUTE AND RU LES. FURTHER, IN CASES WHERE THE TAX EFFECT IS NOT QUANTIFIABLE OR NOT INVOLVED, SUCH AS THE CASE OF REGISTRATION OF TRUSTS OR INSTITUTIONS UNDER SECTION 12A/12AA OF THE IT ACT, 1961 ETC., FILING OF APPEAL SHALL NOT BE GOVERNED BY THE LIMITS SPECIFIED IN P ARA 3 ABOVE AND DECISION TO FILE APPEALS IN SUCH CASES MAY BE TAKEN ON MERITS OF A PARTICULAR CASE. 12. IT IS CLARIFIED THAT THE MONETARY LIMIT OF RS. 20 LAKHS FOR FILING APPEALS BEFORE THE ITAT WOULD APPLY EQUALLY TO CROSS OBJECTIONS UNDER SECTION 253(4 ) OF THE ACT. CROSS OBJECTIONS BELOW THIS MONETARY LIMIT, ALREADY FILED, SHOULD BE PURSUED FOR DISMISSAL AS WITHDRAWN/ NOT PRESSED. FILING OF CROSS OBJECTIONS BELOW THE MONETARY LIMIT MAY NOT BE CONSIDERED HENCEFORTH. SIMILARLY, REFERENCES TO HIGH COURTS A ND SLPS/ APPEALS BEFORE SUPREME COURT BELOW THE MONETARY LIMIT OF RS. 50 LAKHS AND RS. 1 CRORE RESPECTIVELY SHOULD BE PURSUED FOR DISMISSAL AS WITHDRAWN/ NOT PRESSED. REFERENCES BEFORE HIGH COURT AND SLPS/ APPEALS BELOW THESE LIMITS MAY NOT BE CONSIDERED HENCEFORTH. 13. THIS CIRCULAR WILL APPLY TO SLPS/APPEALS/CROSS OBJECTIONS/REFERENCES TO BE FILED HENCEFORTH IN SC/HCS/TRIBUNAL AND IT SHALL ALSO APPLY RETROSPECTIVELY TO PENDING SLPS/APPEALS/CROSS OBJECTIONS/REFERENCES. PENDING APPEALS BELOW THE SPECIFIE D TAX LIMITS IN PARA 3 ABOVE MAY BE WITHDRAWN/ NOT PRESSED . 14. THE ABOVE MAY BE BROUGHT TO THE NOTICE OF ALL CONCERNED. 15. THIS ISSUES UNDER SECTION 268A OF THE INCOME - TAX ACT 1961. 16. HINDI VERSION WILL FOLLOW. SD/ - (NEE TIKA BANSAL) DIRECTOR (ITJ), CBDT, NEW DELHI. COPY TO: 1 . THE CHAIRMAN, MEMBERS AND ALL OTHER OFFICERS IN CBDT OF THE RANK OF UNDER SECRETARY AND ABOVE. 2. ALL PR. CHIEF COMMISSIONERS OF INCOME TAX AND ALL DIRECTORS GENERAL OF INCOME TAX WITH A REQUEST TO BR ING TO THE ATTENTION OF ALL OFFICERS. 3. ADG (PR, PP& OL) T MAYUR BHAWAN, NEW DELHI FOR PRINTING IN THE QUARTERLY TAX BULLETIN AND FOR CIRCULATION AS PER USUAL MAILING LIST. 4. THE COMPTROLLER AND AUDITOR GENERAL OF INDIA. 5. ADG (VIGILANCE), MA YUR BHAWAN, NEW DELHI. 6. THE JOINT SECRETARY & LEGAL ADVISOR, MINISTRY OF LAW & JUSTICE, NEW DELHI. I.T.A. NO.3052 /MUM/2017 5 7. ALL DIRECTORATES OF INCOME - TAX, NEW DELHI AND DGIT (NADT), NAGPUR. 8. ITCC (3 COPIES). 9. THE ADG (SYSTEM) - 4, FOR UPLOADING ON THE DEPARTMENT'S WEBSITE. 10. DATA BASE CELL FOR UPLOADING ON IRSOFFICERSONLINE.GOV.IN. 11. [e-mail] FOR UPLOADING ON NJRS. 12. HINDI CELL FOR TRANSLATION. 13. GUARD FILE. DIRECTOR (ITJ) CBDT, NEW DELHI THE LD. AR SUBMITTED THAT AS PER THE CBDT CIRCULAR NO. 3/201 8, F. NO. 279/MISC.142/2007 - ITJ (PT) DATED 11 TH JULY, 2018 ISSUED BY CENTRAL BOARD OF DIRECT TAXES, DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, GOVERNMENT OF INDIA, NO APPEAL SHALL BE FILED BY THE REVENUE IN RESPECT OF AN ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MO NETARY LIMIT SPECIFIED IN PARA 3 OF THE CIRCULAR . THE LEARNED AR HAS FILED COMPUTATION CHART TO SHOW THAT TAX EFFECT IN THIS APPEAL IS LESS THAN RS. 20 LACS. PARA 3 OF THE CIRCULAR NO. 3/2018 S NO. APPEALS IN INCOME TAX M ATTERS MONETARY LIMIT (IN RS) 1 BEFORE APPELLATE TRIBUNAL 20,00,000/ - 2 BEFORE HIGH COURT 50,00,000/ - 3 BEFORE SUPREME COURT 10,000,000/ - IN THE SAID CIRCULAR VIDE PARA 13, IT IS STIPULATED THAT THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO BE FILED HENCEFORTH IN HONBLE HIGH COURTS/TRIBUNALS. THUS, IT IS STIPULATED THAT P ENDING APPEALS BELOW THE SPECIFIED TAX LIMITS MAY BE WITHDRAWN/NOT PRESSED. THE LEARNED DR AGREED THAT TAX EFFECT IN THIS REVENUES APPEAL IS BELOW R S. 20 LACS AND STATED THAT LIBERTY SHOULD BE GIVEN TO REVENUE THAT IF AT ANY STAGE IF IT IS FOUND THAT DUE TO REASONS STIPULATED IN THE SAID CIRCULAR, THE DEPARTMENT INTENDED TO CONTEST APPEAL IT SHOULD BE PERMITTED TO FILE MISCELLANEOUS APPLICATION FOR R ECALL OF THE ORDER OF THE TRIBUNAL DISPOSING OF THIS APPEAL DUE TO LOW TAX EFFECT . THE LEARNED DR HAS ALSO FILED WRITTEN LETTER CONFIRMING THAT TAX EFFECT IN THIS APPEAL FILED BY REVENUE IS LESS THAN RS. 20 LACS. T HE TAX EFFECT IN THIS APPEAL FILED BY REVE NUE IS UNDISPUTEDLY BELOW RS. 20 LACS AND THUS KEEPING IN VIEW CBDT CIRCULAR NO. 3/2018 DATED 11 - 07 - 2018, I.T.A. NO.3052 /MUM/2017 6 WE ARE INCLINED TO DISMISS THIS APPEAL FILED BY REVENUE DUE TO LOW TAX EFFECT INVOLVED IN THIS APPEAL WHICH IS BELO W RS. 20 LACS . . WHILE DISPOSING O F THIS APPEAL FILED BY REVENUE DUE TO LOW TAX EFFECT VIDE CBDT CIRCULAR NO. 3/2018 DATED 11.07.2018 , WE CLARIFY THAT WE HAVE NOT COMMENTED ON THE MERITS OF THE ISSUE IN THIS APPEAL. HOWEVER, AT THE SAME TIME WE ARE GRANTING LIBERTY TO REVENUE THAT IF AT ANY STAGE REVENUE WANTS TO AGITATE THE MATTER /ISSUE IN THIS APPEAL IN ACCORDANCE WITH THE CLAUSES AS ARE CONTAINED IN THE AFORE - STATED CIRCULAR NUMBER 3/2018 DATED 11.07.2018 , THE REVENUE IS HEREBY GRANTED LIBERTY TO FILE MISCELLANEOUS APPLICATION PRAYIN G FOR RECALL OF THIS ORDER IN ACCORDANCE WITH LAW . WE ORDER ACCORDINGLY. 3 . IN THE RESULT, THE APPEAL FILED BY THE REVENUE IN ITA NO. 3052 /MUM/2017 IS DISMISSED OWING TO LOW TAX EFFECT AS INDICATED ABOVE . ORDER PRONOUNCED IN THE OPEN COURT ON 1 4 .11 .2018 . 1 4 - 11 - 2018 SD/ - SD/ - ( SAKTIJIT DEY ) (RAMIT KOCHAR) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED: 1 4 . 11 .2018 COPY TO 1 . THE APPELLANT 2 . THE RESPONDENT 3 . THE CIT(A) CONCERNED, MUMBAI 4 . THE CIT - CONCERN ED, MUMBAI 5 . THE DR BENCH, 6 . MASTER FILE // TUE COPY// BY ORDER DY/ASSTT. REGISTRAR ITAT, MUMBAI I.T.A. NO.3052 /MUM/2017 7