ACIT -7(2)(1), MUMBAI V. MALHAR FASHION INDIA PVT. LTD., MUMBAI

ITA 3070/MUM/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 1351 (ITAT-MUMBAI)
• Duration Of Justice: 11 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-04-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 11-04-2017
• Assessment Year: 2010-2011
• Appeal Filed On: 27-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B SATYANARAYAN RAJU
• Keywords: Retrospective amendment; Tax effect

Judgement Text

C IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ./ I.T.A. NO. 3070 /MUM/2016 ( / ASSESSMENT YEAR : 2010-11) THE ASSISTANT COMMISSIONER OF INCOME TAX, 7(2)(1) R.NO. 573, 5 TH FLOOR AAYAKAR BHAWAN M K ROAD, MUMBAI-400 020 / V. MALHAR FASHION INDIA PRIVATE LIMITED 1 ST FLOOR, TODI ESTATE SUNMILL COMPOUND, LOWER PAREL, MUMBAI-400013 ./ PAN : AADCM8045P ( / APPELLANT ) .. ( / RESPONDENT ) REVENUE BY MR. B.SATYANARAYAN RAJU, DR ASSESSEE BY : NONE / DATE OF HEARING : 11-04-2017 / DATE OF PRONOUNCEMENT : 11-04-2017 / O R D E R PER RAMIT KOCHAR,ACCOUNTANT MEMBER : THIS APPEAL FILED BY THE REVENUE IS DISPOSED OF BEC AUSE THE TAX EFFECT IN THE APPEAL IS LESS THAN RS. 10 LACS AS PER THE LATE ST CBDT CIRCULAR NO. 21/2015, F. NO. 279/MISC.142/2007-ITJ (PT) DATED 10 TH DECEMBER, 2015 ISSUED BY CENTRAL BOARD OF DIRECT TAXES, DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, GOVERNMENT OF INDIA. 2. THE LD. D.R. SUBMITTED THAT TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS. 10 LACS AND THE CBDT CIRCULAR NO. 21/2015 IS APPLICABLE TO THIS APPEAL AND THE APPEAL IS NOT MAINTAINABLE/NOT PRESS ED IN TERMS OF CBDT CIRCULAR NO 21/2015 DATED 10/12/2015. THE LD. DR S UBMITTED THAT AS PER ITA 3070/MUM/2016 2 THE LATEST CBDT CIRCULAR NO. 21/2015, F. NO. 279/MI SC.142/2007-ITJ (PT) DATED 10 TH DECEMBER, 2015 ISSUED BY CENTRAL BOARD OF DIRECT T AXES, DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, GOVERNM ENT OF INDIA, NO APPEAL SHALL BE FILED BY THE REVENUE IN RESPECT OF AN ASSE SSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MONETARY LIMI T SPECIFIED IN PARA 3 OF THE CIRCULAR . PARA 3 OF THE CIRCULAR NO. 21/2015 S NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS) 1 BEFORE APPELLATE TRIBUNAL 10,00,000/- 2 BEFORE HIGH COURT 20,00,000/- 3 BEFORE SUPREME COURT 25,00,000/- IN THE SAID CIRCULAR VIDE PARA 10, IT IS STIPULATE D THAT THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEAL S TO BE FILED HENCEFORTH IN HIGH COURTS/TRIBUNALS. PENDING APPEALS BELOW THE S PECIFIED TAX LIMITS IN MAY BE WITHDRAWN/NOT PRESSED. THE LEARNED AR ALSO SUBMI TTED THAT THE APPEAL EFFECT IS LESS THAN RS.10 LACS. 3. KEEPING IN VIEW THE CBDT CIRCULAR NO. 21/2015 DA TED 10 TH DECEMBER, 2015 WHICH IS APPLICABLE FROM RETROSPECTIVE EFFECT AND IS ALSO APPLICABLE TO PENDING APPEALS AND ALSO IN VIEW OF LD. DR STATING BEFORE US THAT THIS APPEAL IS NOW NOT MAINTAINABLE/NOT PRESSED IN VIEW OF THE ABOVE CBDT CIRCULAR, WE HOLD THAT THIS APPEAL FILED BY THE REVENUE WHICH IS COVERED BY THIS ORDER INVOLVING TAX EFFECT LESS THAN RS. 10 LACS IS NOT M AINTAINABLE AND IS DISMISSED BEING NOT PRESSED. HOWEVER, THE REVENUE IS AT LIBER TY TO FILE AN APPLICATION FOR RECALL OF THIS APPEAL IN ACCORDANCE WITH LAW, IF TH E REVENUE WANTS TO AGITATE THE MATTER IN ACCORDANCE WITH THE PROVISIONS/CLAUSE S AS CONTAINED IN THE AFORE-STATED CIRCULAR. WE ORDER ACCORDINGLY. ITA 3070/MUM/2016 3 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 11 TH APRIL 2017. # $% &' 11-04-2017 ( ) SD/- SD/- (MAHAVIR SINGH) (RAMIT KOCHAR) JUDICIAL MEMBER ACCOUNTANT MEMBER $ MUMBAI ; & DATED 11-04-2017 [ !'#$%&%# / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. 9 ( ) / THE CIT(A)- CONCERNED, MUMBAI 4. 9 / CIT- CONCERNED, MUMBAI 5. <=( >>?@ , ?@ , $ / DR, ITAT, MUMBAI C BENCH 6. (BC D / GUARD FILE. / BY ORDER, < > //TRUE COPY// / ( DY./ASSTT. REGISTRAR) , $ / ITAT, MUMBAI