ITO WD 21(1)(1), MUMBAI V. DARSHANA M MEHTA, MUMBAI

ITA 3520/MUM/2013

• Counselvise Citation: [2016] 121 COUNSELVISE.COM (IT) 3545 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 8 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-01-2016
• Appeal Filed By: Department
• Bench Allotted: D
• Next Hearing Date: 07-09-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 06-05-2013
• Court: TRIBUNAL
• Department Lawyers: B S BIST
• Assessee Lawyers: M SUBRAHMANIAN
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BEFORE SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER I.T.A. NO.3520/M/2013 (ASSESSMENT YEAR: 2008 - 2009 ) ITO, WARD 21(1)(1), R.NO.603, 6 TH FLOOR, C - 10, PRATYAKSHAKAR BHAVAN, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI. / VS. SMT. DARSHNA M MEHTA, C/O. R.R. BANDEKAR & ASSOCIATES, B - 8, SAARTHAK, AAREY ROAD, GOREGAON (E), MUMBAI 400 063. ./ PAN : AFYPM4260K ( / APPELLANT) .. ( / RESPONDENT ) / APPELLANT BY : SHRI B.S. BIST, DR / RESPONDENT BY : SHRI M. SUBRAHMANIAN / DATE OF HEARING : 13.01.2016 / DATE OF PRONOUNCEMENT : 13.01.2016 / O R D E R PER D. KARUNAKARA RAO, AM: THIS APPEAL FILED BY THE REVENUE ON 6.5.2013 IS AGAINST THE ORDER OF THE CIT (A) - 32, MUMBAI DATED 28.02.2013 FOR THE ASSESSMENT YEAR 2008 - 2009. 2. AT THE OUTSET, LD COUNSEL FOR THE ASSESSEE BROUGHT OUR ATTENTION TO THE GROUNDS RAISED BY THE REVENUE WHICH RELATE TO THE CIT (A)S DECISION IN DELETING THE PENALTY OF RS. 7,10,363/ - LEVIED U/S 271(1)(C) OF THE ACT ON THE ACCOUNT OF INTEREST INCOME . IN THI S REGARD, HE MENTIONED THAT THE TAX EFFECT IN THIS APPEAL IS BELOW RS. 10 LAKHS AND THEREFORE, THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE. IN SUPPORT OF HIS ARGUMENT, HE BROUGHT OUR ATTENTION TO THE RECENTLY ISSUED CBDT CIRCULAR NO.21/2015, DATED 10.12 .2015 AND SUBMITTED THAT THE APPEALS FILED BY THE REVENUE WITH A TAX EFFECT OF RS. 10 LAKHS AND BELOW ARE TO BE EITHER DISMISSED BY THE TRIBUNAL AS NOT MAINTAINABLE OR NOT PRESSED BY THE REVENUE. REFERRING TO THE ABOVE MENTIONED BOARD CIRCULAR NO.21/2015, LD COUNSEL FOR THE ASSESSEE BROUGHT OUR ATTENTION TO PARA 10 AND SUBMITTED THAT THE SAID MONETARY LIMITATION OF RS. 10 2 LAKHS APPLIES TO ALL THE APPEALS FILED BY THE REVENUE RETROSPECTIVELY. CONSIDERING THE SIGNIFICANCE OF THE SAID PARA 10 OF THE CBDT CIR CULAR (SUPRA) IS EXTRACTED AS UNDER: - 10. THIS I NSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO BE FILED HENCEFORTH IN HIGH COURTS / TRIBUNALS. PENDING APPEALS BELOW THE SPECIFIED TAX LIMITS IN PARA 3 ABOVE MAY BE WITHDRAWN / NOT PRESSED. APPEALS BEFORE THE SUPREME COURT WILL BE GOVERNED BY THE INSTRUCTIONS ON THIS SUBJECT OPERATIVE AT THE TIME WHEN SUCH APPEAL WAS FILED. 3. CONSIDERING THE ABOVE, THE APPEAL FILED BY THE REVENUE, WHEREIN THE TAX EFFECT IS BELOW THE ABOVE STATED T AX LIMIT OF RS. 10 LAKHS, IS DISMISSED AS NOT MAINTAINABLE. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 13 TH JANUARY, 2016. S D / - S D / - ( SANDEEP GOSAIN ) (D. KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; 13 .1.2016 . . ./ OKK , 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. / GUARD FILE . //TRUE COPY// / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI