DCIT CIR 7(1), MUMBAI V. NOVARTIS INDIA LTD, MUMBAI

ITA 3789/MUM/2014

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 1136 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 10 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-04-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 1991-1992
• Appeal Filed On: 27-05-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUMAN KUMAR
• Assessee Lawyers: HITESH SOMAIYA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCHMUMBA I BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER & SHRI PAWAN SINGH, JUDICIAL MEMBER ITA NO 3789/MUM/2014 (ASSESSMENT YEAR: 1 991-92) DCIT- CIRCLE 7(1), ROOM NO.622, AAYAKAR BHAWAN, M.K.ROAD, MUMBAI-400020. VS. M/S NOVARTIS INDIA LTD. (FORMERLY KNOWN AS HINDUSTAN CIBA GEIGY LTD.) SANDOZ HOUSE, SHIVSAGAR ESTATE, DR. ANNIE BESANT ROAD, WORLI, MUMBAI- 400 018. PAN/GIR NO.: AAA CH291 4 F ( REVENUE ) .. ( ASSESSEE ) REVENUE BY : SHRI SUMAN KUMAR ASSESSEE BY : SHRI HITESH SOMAIYA (AR) DATE OF HEARING : 25/04/2017 DATE OF PRONOUNCEMENT: 25 /04/ 2017 O R D E R PER PAWAN SINGH, JM: THIS APPEAL UNDER SECTION 253 OF INCOME-TAX ACT IS FILED BY THE REVENUE. THE REVENUE HAS RAISED ON ONE GROUND OF APPEAL THAT LD. CIT(A) ERRED IN DELETING THE PENALTY OF RS. 744,535/- LEVIED UNDER SECTION 271(1)(C) OF INCOME TAX ACT. WE HAVE SEEN THAT THE TAX EFFECT INVOLVE I N THE APPEAL IS BELOW THE MONETARY LIMIT OF RS.10,00,000/- AS PRESCRIBED BY THE CENTRAL BOARD OF DIRECT TAXES(CBDT), VIDE ITS CIRCULAR NO.21/2015(F.NO.142/ 2007-ITJ (PT.) DATED 10 TH DECEMBER, 2015. 2. SHRI HITESH SOMAIYA (AR) HASAPPEARED ON BEHALF O F THE ASSESSEE. THE DEPARTMENTAL REPRESENTATIVE (DR) FAIRLY CONCEDED T HAT THE TAX EFFECT INVOLVED IN THE PRESENT CASE IS LESS THAN 10.00 LACS. CONSID ERING THESE FACTS, WE DISMISS THE APPEAL HOLDING THEM AS NOT MAINTAINABLE U/S. 26 8A OF THE INCOME-TAX ACT. 3. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 25/04/2 017. SD/- SD/- (SHAMIM YAHYA ) (PAWAN SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI; DATED :25/04/2017 ROHIT KUMAR, PS 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/