ITO 22(3)(4), NAVI MUMBAI V. SURAYAKANT RATANPAL, NAVI MUMBAI

ITA 3340/MUM/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4447 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 8 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2008-2009
• Appeal Filed On: 30-04-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIVEK OJHA
• Assessee Lawyers: MALAY SHAH
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES E, MUMBAI BEFORE SHRI JASON P. BOAZ (AM) AND SHRI RAM LAL NEG I (JM) ITA NO. 3340 /MUM/2013 ASSESSMENT YEAR: 2008-09 THE ITO- WD- 22 (3)-4, ROOM NO. 310, TOWER NO. 6, 3 RD FLOOR, VASHI RLY. STATION COMPLEX, VASHI NAVI MUMBAI. VS. SHRI. SURYAKANT RATANPAL, SHOP NO. 1 & 2, JIGNA ARCADE, SECTOR 13, KOPARKHAIRANE, NAVI MUMBAI- 400709 PAN- ABVPR1308N (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI. VIVEK OJHA RESPONDENT BY : SHRI. MALAY SHAH DATE OF HEARING: 06/01/2016 DATE OF PRONOUNCEMENT: 06/01/2016 O R D E R PER JASON P. BOAZ, AM THE AFORESAID APPEAL HAS BEEN FILED BY THE REV ENUE AGAINST IMPUGNED ORDER DATED 06/02/2013 PASSED BY THE CIT( A)-33, MUMBAI IN RESPECT OF THE ORDER OF ASSESSMENT PASSED U/S 14 3(3) FOR THE ASSESSMENT YEAR 2008-09, ON THE FOLLOWING GROUNDS:- 1) 'ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD.CIT(A) ERRED IN TAKING THE CASH DEPOSIT AS SUPPR ESSED SALES/ UNDISCLOSED TURNOVER OF THE ASSESSEE AND ALLOWED RE LIEF TO THE ASSESSEE OF RS. 13,30,227/- OUT OF CASH DEPOSIT OF RS. 14,63,450/- THOUGH THE SOURCE OF CASH DEPOSIT WAS N OT EXPLAINED DURING ASSESSMENT PROCEEDINGS NOR DURING APPELLATE 2 ITA NO. 3340 /MUM/2013 ASSESSMENT YEAR: 2008-09 PROCEEDINGS. THE SAME CANNOT BE SAID TO BE SUPPRESS ED SALES/ UNDISCLOSED TURNOVER AND HENCE THE CIT(A)S DECISIO N IS NOT ACCEPTABLE.' 2) THE APPELLANT PRAYS THAT THE ORDER OF LD. CIT(A) ON THE ABOVE GROUNDS BE REVERSED AND THAT OF THE ASSESSIN G OFFICER BE RESTORED. 3) THE APPELLANT CRAVES LEAVE TO AMEND OR ALTER ANY GROUNDS OR ADD A NEW GROUND WHICH MAY BE NECESSARY. 2. AT THE OUTSET, IT IS NOTICED THAT, THE DISPUTE D ISSUE IS ONLY FOR RS. 14,63,450/- AND THE TAX EFFECT ON THIS AMOUNT I S MUCH BELOW THE SPECIFIED MONETARY LIMIT OF RS. 10 LAKHS. AS PE R THE LATEST CBDT CIRCULAR NO. 21 OF 2015, DATED 10 TH DECEMBER, 2015, NEW GUIDELINES OF MONETARY LIMIT FOR FILING OF APPEALS BY THE DEPARTMENT HAS BEEN ISSUED, WHEREBY THE TAX EFFECT FOR FILING OF APPEAL BEFORE THE ITAT HAS BEEN PRESCRIBED AT RS. 10 LAKHS. IN TH E SAID CIRCULAR, IT HAS BEEN SPECIFICALLY CLARIFIED THAT THE SAID IN STRUCTION WILL APPLY RETROSPECTIVELY TO ALL THE PENDING APPEALS. ACCORDI NGLY, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AND IS DIS MISSED IN LIMINE . ORDER PRONOUNCED IN THE OPEN COURT ON 6 TH JANUARY, 2016 SD/- SD/- ( RAM LAL NEGI ) (JASON P.BOAZ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI; DATED: 06/01/2016 3 ITA NO. 3340 /MUM/2013 ASSESSMENT YEAR: 2008-09 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A)- 4. / CIT 5. !' , $ !'% , / DR, ITAT, MUMBAI 6. &'( / GUARD FILE. / BY ORDER, ) //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, M PRAMILA