ASST CIT 10(3)(2), MUMBAI V. POONA GALVANIZERS P.LTD, MUMBAI

ITA 3485/MUM/2015

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 6668 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 7 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-02-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2010-2011
• Appeal Filed On: 08-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V V IJAY K UMAR
• Assessee Lawyers: M K PATEL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C , BENCH MUMBAI BEFORE SHRI C.N. PRASAD , JM & SHRI M.BALAGANESH, AM ITA NO. 3485 /MUM/201 5 ( ASSESSMENT YEAR : 2010 - 11 ) ASST. COMMISSIONER OF INCOME TAX - 10(3)(2) R.NO.212, AAYAKAR BHAVAN M.K.ROAD, MUMBAI 4 00 020 VS. M/S. POONA GALVANIZERS PVT. LTD., 705, MORYA LAND MARK II OSHIWARA LINK ROAD ANDHERI (WEST) MUMBAI 400 053 PAN/GIR NO. AADCP2111R (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI V. VIJAYKUMAR ASSESSEE BY MS. M.K. PATEL DATE OF HEARING 04 / 02 /2020 DATE OF PRONOUNCEMENT 0 4 / 02 /2020 / O R D E R PER M. BALAGANESH (A.M) : THIS APPEAL IN ITA NO. 3485/MUM/2015 FOR A.Y. 2010 - 11 ARISES OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 17, MUMBAI IN APPEAL NO. CIT(A) - 17/IT - 161/2013 - 14 DATED 23/03/2015 (LD. CIT(A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S.143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 26/03/2013 BY THE LD. DY. COMMISSIONER OF INCOME TAX (OSD), RG.8(1), MUMBAI (HEREI NAFTER REFERRED TO AS LD. AO). ITA NO .3485/MUM/2015 M/S. POONA GALVANIZERS P. LTD 2 2. BOTH THE PARTIES BEFORE US MUTUALLY AGREED THAT THIS REVENUE APPEAL IS TO BE DISMISSED AS NOT MAINTAINABLE IN VIEW OF THE RECENT CIRCULAR ISSUED BY THE CBDT DATED 08/08/2019 WHEREIN THE REVENUE HAS BEEN DIRECTED TO WITHDR AW THE APPEAL PREFERRED BY IT BEFORE THE TRIBUNAL IF THE TAX EFFECT ON THE DISPUTED ISSUES IS LESS THAN OR EQUAL TO RS.50,00,000/ - . IT IS WELL SETTLED THAT THIS CIRCULAR IS BINDING ON THE REVENUE AUTHORITIES. 3. RESPECTFULLY FOLLOWING THE SAID CIRCULAR, TH E APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. 4. INCASE, IF THE REVENUE IS ABLE TO PROVIDE EVIDENCE THAT THE CASE FALLS UNDER ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCULAR ISSUED BY THE CBDT, THEN THE REVENUE MAY PREFER MISCELLANEOUS APP LICATION FOR RECALLING OF THIS ORDER, IF THEY SO DESIRE, IN WHICH CIRCUMSTANCE THIS ORDER SHALL BE RECALLED BY THIS TRIBUNAL. 5. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 0 4 / 02 /2020 SD/ - ( C.N. PRASAD ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 0 4 / 02/ 2020 KARUNA , SR.PS ITA NO .3485/MUM/2015 M/S. POONA GALVANIZERS P. LTD 3 COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGIS TRAR) ITAT, MUMBAI 1. THE APPELLAN T 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//