ITO WD 3(3), THANE V. S.B. DEVELOPERS, THANE

ITA 3111/MUM/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4533 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 8 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 15-01-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 23-04-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: LOVE KUMAR
• Assessee Lawyers: SUBODH RATNAPARAKHI
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL E BE NCH, MUMBAI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI C.N. PRASAD, JUDICIAL MEMBER / I .TA NO. 3111/MUM/2013 ( / ASSESSMENT YEAR: 2005-06 THE ITO, WARD 3(3), NO. 8, B WING, 6 TH FLOOR, ASHAR IT PARK, ROAD NO. 16-Z, WAGLE INDL. ESTATE, THANE (W) / VS. M/S. S.B. DEVELOPERS, G-2, MAROTRAOVJI BHAVAN DR. MOOSE ROAD, TALAOPALI, THANE ./ ./ PAN/GIR NO. AAZFS 1880K ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY: SHRI LOVE KUMAR / RESPONDENT BY: SHRI SUBODH RATNAPARAKHI / DATE OF HEARING :12.01.2016 !' / DATE OF PRONOUNCEMENT :12.01.2016 / O R D E R PER N.K. BILLAIYA, AM: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST T HE ORDER OF THE LD. CIT(A)-1, THANE DATED 12.12.2012 PERTAINING TO ASSESSMENT YEAR 2005-06. 2. THE SOLE GRIEVANCE OF THE REVENUE IS THAT THE LD . CIT(A) ERRED IN CANCELLING THE PENALTY LEVIED BY THE AO U/S. 271 (1)(C) OF THE ACT. ITA. NO. 3111/M/2013 2 3. WITHOUT GOING INTO THE MERITS OF THE CASE WE FIN D THAT THE IMPUGNED PENALTY IS OF RS. 6,99,063/-. THIS APPEAL IS COVERED BY CIRCULAR NO. 21/2015 OF THE CBDT DATED 10/12/2015, THE RELEVANT PORTION OF WHICH READ AS UNDER:- CIRCULAR NO. 21/2015 F NO 279/MISC. 142/2007-ITJ (PT) GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD DIRECT TAXES NEW DELHI THE 10TH DECEMBER, 2015 SUBJECT: REVISION OF MONETARY LIMITS FOR FILING O F APPEALS BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TR IBUNAL AND HIGH COURTS AND SLP BEFORE SUPREME COURT - MEAS URES FOR REDUCING LITIGATION - REG REFERENCE IS INVITED TO BOARD'S INSTRUCTION NO 5/20 14 DATED 10.07.2014 WHEREIN MONETARY LIMITS AND OTHER CONDITIONS FOR FILING DEPARTMENTAL APPEALS (IN INCOME-TAX MATT ERS) BEFORE APPELLATE TRIBUNAL AND HIGH COURTS AND SLP BEFORE T HE SUPREME COURT WERE SPECIFIED. 2. IN SUPERSESSION OF THE ABOVE INSTRUCTION, IT HA S BEEN DECIDED BY THE BOARD THAT DEPARTMENTAL APPEALS MAY BE FILED ON MERITS BEFORE APPELLATE TRIBUNAL AND HIGH COURTS AN D SLP BEFORE THE SUPREME COURT KEEPING IN VIEW THE MONETARY LIMI TS AND 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 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/ - ITA. NO. 3111/M/2013 3 IT IS CLARIFIED THAT AN APPEAL SHOULD NOT BE FILED MERELY BECAUSE THE TAX EFFECT IN A CASE EXCEEDS THE MONETARY LIMIT S PRESCRIBED ABOVE. FILING OF APPEAL IN SUCH CASES IS TO BE DECI DED ON MERITS OF THE CASE. 4. FOLLOWING THE AFOREMENTIONED CIRCULAR OF THE BOA RD, THIS APPEAL BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON 12 TH JANUARY, 2016. SD/- SD/- (C.N. PRASAD) (N.K. BILLAIYA) %&# /JUDICIAL MEMBER # / ACCOUNTANT MEMBER MUMBAI; )# DATED : 12 TH JANUARY, 2016 . & . ./ RJ , SR. PS !'#$#! / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. * ( ) / THE CIT(A)- 4. * / CIT 5. +,-&&./ , ./' , / DR, ITAT, MUMBAI 6. -012 / GUARD FILE. / BY ORDER, +& //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI