ITO 5(3)(1), MUMBAI V. REAL VALUE LEASING P.LTD, MUMBAI

ITA 3813/MUM/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4535 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 7 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-01-2016
• Appeal Filed By: Department
• Bench Allotted: D
• Next Hearing Date: 11-03-2015
• Assessment Year: 2010-2011
• Appeal Filed On: 13-05-2013
• Court: TRIBUNAL
• Department Lawyers: R M MADHAVI
• Assessee Lawyers: AARTI SATHE KODPAH T
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BEFORE SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER I.T.A. NO.3813/M/2013 (ASSESSMENT YEAR: 2010 - 2011 ) ITO 5(3)(1), R.NO.526, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI 400 020. / VS. REAL VALUE LEASING P LTD., 3 RD FLOOR, 133, HUGES, N.S. PATKAR MARG, OPP. PREM PURI ASHRAM GRANT ROAD, MUMBAI 400 007. ./ PAN : AADCD0131B ( / APPELLANT) .. ( / RESPONDENT ) / APPELLANT BY : SHRI R.M. MADHAVI, DR / RESPONDENT BY : MS. AARTI SATHE / KODPAH T / DATE OF HEARING : 12.01.2016 / DATE OF PRONOUNCEMENT : 12.01.2016 / O R D E R PER D. KARUNAKARA RAO, AM: THIS APPEAL FILED BY THE REVENUE ON 13.5.2013 IS AGAINST THE ORDER OF THE CIT (A) - 9, MUMBAI DATED 20.3.2013 FOR THE ASSESSMENT YEAR 2010 - 2011. 2. AT THE OUTSET, LD COUNSEL FOR THE ASSESSEE BROUGHT OUR ATTENTION TO THE GROUNDS RAISED BY THE REVENUE WHICH RELATE TO THE CIT (A)S DECISION IN DELETING THE 2 ADDITIONS AGGREGATING TO RS. 24,18,596/ - . IN THIS REGARD, HE MENTIONED THAT THE TAX EFFECT IN TH IS APPEAL IS BELOW RS. 10 LAKHS AND THEREFORE, THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE. IN SUPPORT OF HIS ARGUMENT, HE BROUGHT OUR ATTENTION TO THE RECENTLY ISSUED CBDT CIRCULAR NO.21/2015, DATED 10.12.2015 AND SUBMITTED THAT THE APPEALS FILED BY T HE REVENUE WITH A TAX EFFECT OF RS. 10 LAKHS AND BELOW ARE TO BE EITHER DISMISSED BY THE TRIBUNAL AS NOT MAINTAINABLE OR NOT PRESSED BY THE REVENUE. REFERRING TO THE ABOVE MENTIONED BOARD CIRCULAR NO.21/2015, LD COUNSEL FOR THE ASSESSEE BROUGHT OUR ATTENT ION TO PARA 10 AND SUBMITTED THAT THE SAID MONETARY LIMITATION OF RS. 10 LAKHS APPLIES TO ALL THE APPEALS FILED BY THE 2 REVENUE RETROSPECTIVELY. CONSIDERING THE SIGNIFICANCE OF THE SAID PARA 10 OF THE CBDT CIRCULAR (SUPRA) IS EXTRACTED AS UNDER: - 10. THIS I NSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO BE FILED HENCEFORTH IN HIGH COURTS / TRIBUNALS. PENDING APPEALS BELOW THE SPECIFIED TAX LIMITS IN PARA 3 ABOVE MAY BE WITHDRAWN / NOT PRESSED. APPEALS BEFORE THE SUPREME COURT WILL BE GOVERNED BY THE INSTRUCTIONS ON THIS SUBJECT OPERATIVE AT THE TIME WHEN SUCH APPEAL WAS FILED. 3. CONSIDERING THE ABOVE, THE APPEAL FILED BY THE REVENUE, WHEREIN THE TAX EFFECT IS BELOW THE ABOVE STATED TAX LIMIT OF RS. 10 LAKHS, IS DISMISSED AS NOT M AINTAINABLE. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 12 TH JANUARY, 2016. S D / - S D / - ( SANDEEP GOSAIN ) (D. KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; 12 .1.2016 . . ./ OKK , SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE . //TRUE COPY// / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI