DCIT (IT) 2(2)(2), MUMBAI V. HSBC BANK OMAN S.A.O.G., MUMBAI

ITA 3725/MUM/2016

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 1063 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 6 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-12-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2010-2011
• Appeal Filed On: 27-05-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: TEJASHREE SHRINGARPUR ARS
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL K, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI VIKAS AWASTHY, JM ITA NO. 3724 & 3725/MUM/2016 ( ASSESSMENT YEAR: 2009-10 & 2010-11) D.C.I.T.(IT)-2(2)(2), ROOM NO. 1729, 17 TH FLOOR, AIR INDIA BUILDING, NARIMAN POINT, MUMBAI-400021. VS. M/S HSBC BANK OMAN S.A.O.G. (FORMERLY KNOWN AS OMAN INTERNATIONAL BANK S.A.O.G.), 201, RAHEJA CENTRE, FREE PRESS JOURNAL MARG, NARIMAN POINT, MUMBAI-400021. PAN/GIR NO. AAACO 0440 M (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI ANAND MOHAN (CIT-DR) ASSESSEE BY SHRI NIRAJ SHETH & SHRI TEJASHREE SHRINGARPUR (ARS) DATE OF HEARING 10/12/2019 DATE OF PRONOUNCEMENT 18/12/2019 / O R D E R PER: R.C. SHARMA, A.M. THESE ARE THE APPEALS FILED BY THE REVENUE AGAINST THE SEPARATE ORDERS OF THE LD. CIT(A)-56, MUMBAI DATED 26/02/201 6 FOR THE A.Y. 2009- 10 AND 2010-11 RESPECTIVELY IN THE MATTER OF ORDER PASSED U/S 143(3) R.W.S. 94CA OF THE INCOME TAX ACT, 1961 (IN SHORT, THE ACT). 2. AT THE OUTSET, THE LD DR HAS FAIRLY AGREED THAT THE TAX EFFECT IN THESE APPEALS FILED BY THE REVENUE ARE LESS THAN RS . 50.00 LACS. 3. WE HAVE CONSIDERED THE RIVAL CONTENTIONS AND CAR EFULLY GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW AND FOU ND THAT THE TAX EFFECT ITA NO. 3724 & 3725/MUM/2016 DCIT VS M/S HSBC BANK OMAN S.A.O.G.. 2 IN THESE APPEALS ARE NOT EXCEEDING THE MONETARY LIM IT AS REVISED BY THE CBDT VIDE CIRCULAR DATED 08.08.2019 FOR THE PURPOSE OF FILING OF APPEAL BY THE DEPARTMENT BEFORE THE INCOME TAX APPELLATE T RIBUNAL FROM RS. 20,00,000/- TO RS. 50,00,000/-. FOR READY REFERENC E, WE REPRODUCE THE CBDT CIRCULAR NO. 17 OF 2019 DATED 08.08.2019 AS UN DER:- FURTHER ENHANCEMENT OF MONETARY LIMITS FOR FILING O F APPEALS BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TRIBUNAL , HIGH COURTS AND SLPS/APPEALS BEFORE SUPREME COURT - AMEN DMENT TO CIRCULAR 3 OF 2018 - MEASURES FOR REDUCING LITIGATI ON. CIRCULAR NO. 3/2018 DATED 11TH JULY 2018 HAS BEEN R EPLACED BY CIRCULAR NO. 17/2019 DATED 8TH AUGUST 2019 TO ENHAN CE MONETARY LIMITS FOR FILING OF APPEALS BY THE DEPARTMENT BEFO RE INCOME TAX APPELLATE TRIBUNAL, HIGH COURTS AND SLPS/APPEALS BE FORE SUPREME COURT FOR REDUCING LITIGATION. APPEALS/SLPS IN INCOME- TAX MATTERS MONETARY LIMIT (RS.) (PREVIOUS LIMIT) MONETARY LIMIT (RS.) (REVISED LIMIT) BEFORE APPELLATE TRIBUNAL 20,00,000 50,00,000 BEFORE HIGH COURT 50,00,000 1,00,00,000 BEFORE SUPREME COURT 1,00,00,000 2,00,00,000 THE ASSESSING OFFICER SHALL CALCULATE THE TAX EFFEC T SEPARATELY FOR EVERY ASSESSMENT YEAR IN RESPECT OF THE DISPUTED IS SUES IN THE CASE OF EVERY ASSESSEE. IF, IN THE CASE OF AN ASSES SEE, THE DISPUTED ISSUES ARISE IN MORE THAN ONE ASSESSMENT Y EAR, APPEAL CAN BE FILED IN RESPECT OF SUCH ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IN RESPECT OF THE DISPUTED ISSUES EX CEEDS THE MONETARY LIMIT. NO APPEAL SHALL BE FILED IN RESPECT OF AN ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MONETARY LIMIT. FURTHER, EVEN IN THE CASE OF COMPOSITE ORDER OF ANY HIGH COURT OR APPELLATE AUTHORITY WHICH INVOLVES MORE THAN ONE AS SESSMENT YEAR AND COMMON ISSUES IN MORE THAN ONE ASSESSMENT YEAR, NO APPEAL SHALL BE FILED IN RESPECT OF AN ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MONETARY LIMIT. ITA NO. 3724 & 3725/MUM/2016 DCIT VS M/S HSBC BANK OMAN S.A.O.G.. 3 IN CASE WHERE A COMPOSITE ORDER/ JUDGMENT INVOLVES MORE THAN ONE ASSESSEE, EACH ASSESSEE SHALL BE DEALT WITH SEP ARATELY. 4. IT IS ALSO RELEVANT TO MENTION HERE THAT THESE A PPEALS ARE NOT COVERED BY ANY OF THE EXCEPTIONS MENTIONED IN THE S AID CIRCULAR. ACCORDINGLY, THE APPEALS OF THE DEPARTMENT ARE NOT MAINTAINABLE BEING MONETARY LIMIT IS LESS THAN/NOT EXCEEDING RS. 50,00 ,000/-. 5. IN THE RESULT, BOTH THE APPEALS OF THE REVENUE A RE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH DECEMBER, 2019. SD/- (VIKAS AWASTHY) SD/- (R.C.SHARMA) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI; DATED 18/12/2019 *RANJAN 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//