INCOME TAX OFFICER 25(2)(4), MUMBAI V. LALIT MEHTA, MUMBAI

ITA 3413/MUM/2014

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 1564 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 7 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-12-2016
• Appeal Filed By: Department
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 13-05-2014
• Court: TRIBUNAL
• Department Lawyers: RAJESH KUMAR YADAV
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH A , MUMBAI BEFORE SHRI SHRI CN PRASAD, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL , ACCOUNTANT MEMBER ITA NO. 3413 /MUM/201 4 : (A.Y : 20 10 - 11 ) ITO 25(2)(4) MUMBAI (APPELLANT) VS. SHRI LALIT MEHTA D - 106, 1 ST FLOOR, DEVNAGAR CHS NEAR BHATIA SCHOOL SAIBABA NAGAR BORIVALI (W) , MUMBAI 400 0 61 PAN : AAOPM3854C (RESPONDENT) APPELLANT BY : SHRI RAJESH KUMAR YADAV RESPONDENT BY : SHRI MADHUR AGGARWAL DATE OF HEARING : 13 / 1 2 /201 6 DATE OF PRONOUNCEMENT : 13/12/2016 O R D E R PER CN PRASAD , J M : THE APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 13.03.2013, PASSED BY THE CIT(A) - 35, MUMBAI, FOR THE ASSESSMENT YEAR 2010 - 11. 2. AT THE OUTSET, WE HAVE NOTICED THAT THE TAX EFFECT IN THE APPEAL OF THE REVENUE IS BELOW RS.10 LAKHS, TH EREFORE, THE SAME IS NOT MAINTAINABLE AS PER THE CBDT CIRCULAR NO.21/2015, DATED 10TH DECEMBER, 2015. WE FOUND THAT AS PER THE RECENT CIRCULAR NO.21/2015, DATED 10TH DECEMBER, 2015, ISSUED BY THE CBDT, THE MONETARY LIMIT HAS BEEN REVISED FOR FILING OF APPE AL BEFORE ITAT BY THE REVENUE FIXING THE TAX EFFECT LIMIT OF RS.10 LAKHS. IN THE INSTANT CASE, THE TAX EFFECT IS BELOW RS.10 LAKHS, THEREFORE THE SAME IS NOT 2 SHRI LALIT MEHTA ITA NO.3413/MUM/2014 MAINTAINABLE AND LIABLE TO BE DISMISSED IN LIMINE. THIS CIRCULAR IS RETROSPECTIVE AND APPLICABLE T O THE PENDING APPEALS ALSO. 3. CONSIDERING THE ABOVE CBDT CIRCULAR, WE FOUND THAT THIS APPEAL OF THE REVENUE IS NOT MAINTAINABLE AS THE TAX EFFECT IN THIS APPEAL IS BELOW RS.10 LAKHS. ACCORDINGLY, WE DISMISS THE APPEAL OF THE REVENUE. 4. IN THE RESULT, APPEAL OF REVENUE IS DISMISSED. ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 13.12. 2016. SD/ - SD/ - MANOJ KUMAR AGGARWAL C.N.PRASAD / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI, DATE : 13 TH DECEMBER, 2016 LR, SPS COPY TO : 1) THE APPELLANT 2) THE RESPONDENT 3) THE CIT(A) CONCERNED 4) THE CIT CONCERNED 5) THE D.R, I BENCH, MUMBAI 6) GUARD FILE BY ORDER DY./ASSTT. REGISTRAR I.T.A.T, MUMBAI