ITO 4(2)(4), MUMBAI V. LOVELY FAB PRINT P.LTD, MUMBAI

ITA 3678/MUM/2017

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 9092 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 4 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-09-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2009-2010
• Appeal Filed On: 19-05-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A , BENCH MUMBAI B EFORE SHRI MAHAVIR SINGH, JM & SHRI M.BALAGANESH, AM ITA NO. 3678 /MUM/ 2017 ( ASSESSMENT YEAR : 2009 - 10 ) THE INCOME TAX OFFICER 4(2)(4) ROOM NO.647, 6 TH FLOOR AAYAKAR BHAVAN M.K.ROAD, MUMBAI 400 020 VS. M/S. LOVELY FAB PRINT PVT. LTD. 16, 2 ND FLOOR, ROOM NO.26 ANANTWADI, BHULESHWAR MUMBAI 400 002 PAN/GIR NO. AABCL4588N (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI. ANADI VARMA & MS. SAMATHA MULLAMUDI ASSESSEE B Y SHRI ANKUSH AGARWAL DATE OF HEARING 23 / 09 /2019 DATE OF PRONOUNCEMENT 23 / 09 /2019 / O R D E R PER M. BALAGANESH (A.M) : THIS APPEAL IN ITA NO. 3678/MUM/2017 FOR A.Y . 2009 - 10 ARISE S OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 9, MUMBAI , MUMBAI IN APPEAL NO. CIT(A)9/ITO - 4(2)(4)/183/2015 - 16 DATED 17/02/2017 (LD. CIT(A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S. 14 4 R.W.S.147 OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 19/03/2015 BY THE INCOME TAX OFFICER 4 (2)(4), MUMBAI (HEREINAFTER REFERRED TO AS LD. AO). ITA NO. 3678/MUM/2017 M/S. LOVELY FAB PRINT PVT. LTD. 2 2. BOTH THE PARTIES BEFORE US MUTUALLY AGREED THAT TH IS 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 B EEN DIRECTED TO WITHDRAW 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 FOLLOWIN G THE SAID CIRCULAR, THE 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 PR EFER MISCELLANEOUS APPLICATION 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 O PEN COURT ON THIS 23 / 09 /201 9 SD/ - ( MAHAVIR SINGH ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 23 / 09 / 2019 KARUNA , SR.PS ITA NO. 3678/MUM/2017 M/S. LOVELY FAB PRINT PVT. LTD. 3 COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//