DCIT CENTRAL CIR (1) , MUMBAI V. RAKSHA BULLION, MUMBAI

ITA 377/MUM/2022

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 1812 (ITAT-MUMBAI)
• Duration Of Justice: 2 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-05-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2014-2015
• Appeal Filed On: 23-02-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: VIMAL
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JM, & SHRI AMARJIT SINGH, AM आयकरअपीलसं./ I.T.A. No. 377/Mum/2022 (निर्धारणवर्ा / Assessment Year: 2014-15) DCIT Cen Cir – 2(1), R. No. 824, 8 th Floor, Old CGO Annex Bldg, M. K. Road, Mumbai-400 020 बिधम/ Vs. M/s Raksha Buillion, 134/136, Moti Bldg, 3 rd floor, S. M. Street, Zaveri Bazar, Mumbai-400 002 स्थायीलेखासं./जीआइआरसं./PAN No. AAHFR2224C (अपीलाथी/Appellant) : (प्रत्यथी / Respondent) अपीलाथीकीओरसे/ Appellant by : Shri C. T. Mathews, Ld. DR प्रत्यथीकीओरसे/Respondent by : Shri Vimal Punamiya, Ld. AR सुनवाईकीतारीख/ Date of Hearing : 19.05.2022 घोषणाकीतारीख / Date of Pronouncement : 19.05.2022 आदेश / O R D E R Per Amit Shukla, Judicial Member: The aforesaid appeal has been filed by the revenue against the impugned order dated 10.01.2022, passed by Ld. CIT(A)-48, 2 I.T.A. No. 467/Mum/2021 M/s Raksha Buillion Mumbai for the quantum appeal of assessment passed u/s 143(3) for AY 2014-15. 2. At the outset, Ld. AR appeared on behalf of the assessee submitted that the tax effect of the relief granted by the Ld. Commissioner of Income Tax (Appeals) is below Rs. 50 lacs and as per Circular No.17 of 2019 dated 08.08.2019 [F.No.279/Misc.142/2007-TTJ(Pt.) issued by the Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, Government of India, the CBDT has revised the monetary limit for filing appeals before the ITAT from the existing limit of Rs. 20 lacs to Rs. 50 lacs. In the light of the aforesaid facts, he submitted that this appeal is not maintainable and liable to be dismissed. 3. The Ld. Departmental Representative (DR) fairly conceded that this appeal is not maintainable in light of the aforesaid circular issued by the CBDT. The Ld. DR also did not point out that this appeal falls in any of the exceptions carved out in the above said circular. 4. We have gone through the order of the Ld. Commissioner of Income Tax (Appeals) and the grounds of appeals. We find that the 3 I.T.A. No. 467/Mum/2021 M/s Raksha Buillion tax effect in the above referred appeal is less than Rs. 50 lacs. Accordingly, we dismiss the aforesaid appeal filed by the Revenue as not maintainable/withdrawn. 5. In the result, the appeal filed by the revenue stands dismissed. Orders pronounced in the open court on Sd/- Sd/- (Amarjit Singh) (Amit Shukla) Accountant Member Judicial Member मुंबई Mumbai;ददनांक Dated : 19/05/2022 Sr.PS. Dhananjay आदेशकीप्रनिनिनिअग्रेनर्ि/Copy of the Order forwarded to : 1. अपीलाथी/ The Appellant 2. प्रत्यथी/ The Respondent 3. आयकरआयुक्त(अपील) / The CIT(A) 4. आयकरआयुक्त/ CIT- concerned 5. दवभागीयप्रदतदनदध, आयकरअपीलीयअदधकरण, मुंबई/ DR, ITAT, Mumbai 6. गार्डफाईल / Guard File आदेशधिुसधर/ BY ORDER, .उि/सहधयकिंजीकधर (Dy./Asstt.Registrar) आयकरअिीिीयअनर्करण, मुंबई/ ITAT, Mumbai