ITO 10(2)(2), MUMBAI V. LAUREL WIRES LTD, MUMBAI

ITA 330/MUM/2017

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 0252 (ITAT-MUMBAI)
• Duration Of Justice: 5 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-06-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2004-2005
• Appeal Filed On: 16-01-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T A KHAN
• Assessee Lawyers: RAJEEV RAVI
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES SMC, MUMBAI BEFORE SHRI B R BASKARAN, ACCOUNTANT MEMBER ITA NO.330/MUM/2017 ASSESSMENT YEAR : 2004-05 ITO 10(2)(2) MUMBAI VS. LAUREL WIRES LTD C-203, CRYSTAL PLAZA, NEW LINK ROAD, ANDHERI (W) MUMBAI 400 053 PAN AAACL5522F (APPELLANT) RESPONDENT) APPELLANT BY : SHRI T A KHAN RESPONDENT BY : SHRI RAJEEV RAVI DATE OF HEARING : 22 .0 6 .201 7 DATE OF PRONOUNCEMENT : 22 .0 6 . 201 7 O R D E R THE REVENUE HAS FILED THIS APPEAL CHALLENGING THE O RDER DATED 03-10- 2016, PASSED BY LD CIT(A)-17, MUMBAI, AND IT RELAT ES TO THE ASSESSMENT YEAR 2004-05. 2. AT THE OUTSET, THE LD A.R SUBMITTED THAT THE QUA NTUM IN DISPUTE IS ABOUT RS.16.60 LAKHS AND THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS.10.00 LAKHS. ACCORDINGLY HE SUBMITTED THAT THE REVENUE IS PRECLUDED FROM PURSUING THIS APPEAL AS PER THE CIRCULAR NO.21/2015 DATED 10-12-2015 ISSUED BY CBDT. 3. THE LD D.R ACCEPTED THE ABOVE SAID FACTS. 4. HAVING HEARD RIVAL SUBMISSIONS, I FIND MERIT IN THE SUBMISSION OF LD A.R. SINCE THE TAX EFFECT INVOLVED IN THE ADDITIONS IN D ISPUTE IS LESS THAN RS.10.00 LAKHS, BY FOLLOWING THE CIRCULAR OF CBDT (REFERRED SUPRA), THIS APPEAL IS LIABLE TO BE DISMISSED. I ORDER ACCORDINGLY. ITA NO.330/MUM/2017 LAUREL WIRES LTD 2 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS DAY OF 2 2 ND JUNE 2017 SD/- (B R BASKARAN) ACCOUNTANT MEMBER MUMBAI, DATED : 22 ND JUNE, 2017. SA COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE C I T(A), MUMBAI. 4. THE C I T 5. THE DR, SMC BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// (ASSISTANT REGISTRAR) INCOME TAX APPELLATE TRIBUNAL, MUMBAI