ACIT 32(2), MUMBAI V. NEELESHWAR DEVELOPERS, MUMBAI

ITA 3568/MUM/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4471 (ITAT-MUMBAI)
• Duration Of Justice: 6 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 30-12-2015
• Assessment Year: 2010-2011
• Appeal Filed On: 11-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K DHONDIAL J
• Assessee Lawyers: RAHUL K HAKANI
• Keywords: Retrospective amendment; Tax effect

Judgement Text

, - , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES SMC, MUMBAI , ! ' , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, ITA NO.3568/MUM/2015 ASSESSMENT YEAR: 2010-11 ACIT-32(2), ROOM NO.202, 2 ND FLOOR, PRATYAKSHA KAR BHAVAN, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI-400051 / VS. M/S NEELESHWAR DEVELOPERS SHOP NO.C-4, SAI SHAKTI COMPLEX, BANDRA (EAST), MUMBAI-400051 / REVENUE / ASSESSEE P.A. NO. AADFN9153A $ % & / REVENUE BY SHRI A.K.DHONDIAL JCIT-DR $ % & / ASSESSEE BY SHRI RAHUL K. HAKANI / DATE OF HEARING 06/01/2016 & / DATE OF ORDER: 06/01/2016 & / O R D E R THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DAT ED 31/03/2015 OF THE LD. FIRST APPELLATE AUTHORITY, MU MBAI. 2. AT THE OUTSET, IT WAS POINTED OUT BY THE LD. CO UNSEL FOR THE ASSESSEE, SHRI RAHUL K. HAKANI, THAT THE TA X EFFECT IN ITA NO.3568/MUM/2015 M/S NEELESHWAR DEVELOPERS 2 THE PRESENT APPEAL IS BELOW PRESCRIBED MONETARY LIM IT. THIS FACTUAL MATRIX WAS CONSENTED TO BE CORRECT BY THE L D. DR, SHRI A.K. DHONDIAL. 2.1. I HAVE CONSIDERED THE SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. I NOTE THAT THE T AX EFFECT IN THE PRESENT APPEAL IS BELOW THE PRESCRIBED MONETARY LIMIT OF RS.10 LAKH. 2.2. IN VIEW OF THE FACT THAT THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW PRESCRIBED MONETARY LIMIT, AS CONTAINED IN CBDT INSTRUCTION NO.3/2011 DATED 09/02/2011, FURTHER INSTRUCTION NO.5/2014 (F NO.279/MISC./142/2007-IT(PT) DATED 10/07/2014, THE CBDT REVISED THE MONETARY LIMIT FOR FILING THE APPEAL BE FORE VARIOUS AUTHORITIES/COURTS VIDE CBDT CIRCULAR NO.21 OF 2015 , DATED 10/12/2015 (F NO.279/MISC./142/2007-IT(PT), WITH RETROSPECTIVE EFFECT AND ADVISED/DIRECTED THE DEPAR TMENT NOT TO FILE APPEAL IN THE CASES WHERE THE TAX EFFECT DO ES NOT EXCEED THE FOLLOWING MONETARY LIMIT.:- SL. NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS.) 1. BEFORE ITAT 10,00,000/ - 2. U/S 260 A BEFORE HONBLE HIGH COURT 2 0,00,000/ - 3. BEFORE HONBLE SUPREME COURT 25,00,000/ - ITA NO.3568/MUM/2015 M/S NEELESHWAR DEVELOPERS 3 AS PER THE AFORESAID INSTRUCTION/REVISED MONETARY L IMIT, THE DEPARTMENT IS NOT TO FILE APPEAL BEFORE THE TRI BUNAL, WHEREIN, THE TAX EFFECT IS LESS THAN RS.10,00,000/- , CONSEQUENTLY, THIS APPEAL OF THE REVENUE IS NOT MAI NTAINABLE. THEREFORE, IN VIEW OF UNCONTROVERTED CONTENTION OF THE LD. DR WITH RESPECT TO PRESCRIBED MONETARY LIMIT AND THE AFOREMENTIONED CIRCULAR OF CBDT, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. FINALLY, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN T HE PRESENCE OF LD. REPRESENTATIVE OF BOTH SIDES AT THE CONCLUSION OF THE HEARING ON 06/01/2016. SD/- (JOGINDER SINGH) ! ' / JUDICIAL MEMBER MUMBAI; DATED : 06/01/2016 F{X~{T? P.S / ! & $ )!*+ ,&+-* / COPY OF THE ORDER FORWARDED TO : 1. '#$%& / THE APPELLANT 2. '(%& / THE RESPONDENT. 3. ) ) * ( '#$ ) / THE CIT, MUMBAI. 4. ) ) * / CIT(A)- , MUMBAI 5. -./ ' , ) '#$ ' 1 , / DR, ITAT, MUMBAI 6. /2 3$ / GUARD FILE. & / BY ORDER, (-# ' //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI