ASST CIT CIR 4, THANE V. VEENA DEVELOPERS, THANE

ITA 3836/MUM/2014

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 1777 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Next Hearing Date: 31-12-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 28-05-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: JEETENDRA KUMAR
• Assessee Lawyers: VIJAY M S HAH
• Keywords: Retrospective amendment; Tax effect
• Section: 234B

Judgement Text

F IN THE INCOME TAX APPELLATE TRIBUNAL F BENCH, MUMBAI BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ./ I.T.A. NO. 3836 /MUM/2014 ( / ASSESSMENT YEAR : 2009-10) ACIT CIRCLE 4, 6 TH FLOOR, ASHAR IT PARK, RD. NO. 16Z, WAGLE INDL. ESTATE, THANE (W) 400 602. / V. M/S VEENA DEVELOPERS, NIKUNJ HOUSE, MANAV MANDIR, AMADI RD., VASAI (W). DISTRICT THANE ./ PAN : AAEFV3871C ( / APPELLANT ) .. ( / RESPONDENT ) REVENUE BY SHRI JEETENDRA KUMAR ASSESSEE BY : SHRI VIJAY M. S HAH / DATE OF HEARING : 31-12-2015 / DATE OF PRONOUNCEMENT : 31-12-2015 !' / O R D E R PER RAMIT KOCHAR, ACCOUNTANT MEMBER : THIS APPEAL, FILED BY THE REVENUE, BEING ITA NO. 38 36/MUM/2014, IS DIRECTED AGAINST THE ORDER DATED 3-2-2014 PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)- 1, THANE (HER EINAFTER CALLED THE CIT(A)), FOR THE ASSESSMENT YEAR 2009-10. 2. AT THE OUTSET, THE LD. COUNSEL FOR THE ASSESSEE STATED BEFORE US THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS. 10 LACS , WHEREBY HE PRODUCED BEFORE US THE ORDERS OF THE LD. ACIT,CIRCL E-4, THANE DATED 10.04.2014 PASSED TO GIVE APPEAL EFFECT OF THE ORDE RS OF THE CIT(A) IN THE FIRST APPEAL WHEREBY TOTAL TAX EFFECT IS RS.7,22,898/- ON LY WHICH WAS ON ACCOUNT OF ITA 3836/MUM/2014 2 INTEREST LEVIED U/S 234B OF THE ACT , WHICH HAS BEE N ACCEPTED BY THE ASSESSEE AND IS NOT SUBJECT TO ANY FURTHER CHALLENGE UNDER T HE INCOME TAX ACT,1961 . THE LD. COUNSEL STATED THAT AS PER THE LATEST CBDT CIRCULAR NO. 21/2015, F. NO. 279/MISC.142/2007-ITJ (PT) DATED 10 TH DECEMBER, 2015 ISSUED BY CENTRAL BOARD OF DIRECT TAXES, DEPARTMENT OF REVENUE, MINIS TRY OF FINANCE, GOVERNMENT OF INDIA, NO APPEAL SHALL BE FILED BY TH E REVENUE IN RESPECT OF AN ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MONETARY LIMIT SPECIFIED IN PARA 3. PARA 3 OF THE CIRCULAR NO. 21/2015 S NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS) 1 BEFORE APPELLATE TRIBUNAL 10,00,000/ - 2 BEFORE HIGH COURT 20,00,000/ - 3 BEFORE SUPREME COURT 25,00,000/ - IN THE SAID CIRCULAR VIDE PARA 10, IT IS STIPULATE D THAT THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEAL S TO BE FILED HENCEFORTH IN HIGH COURTS/TRIBUNALS. PENDING APPEALS BELOW THE S PECIFIED TAX LIMITS IN PARA 3 ABOVE MAY BE WITHDRAWN/NOT PRESSED. 3. THE LD. D.R. FAIRLY CONCEDED THAT TAX EFFECT INV OLVED IN THIS APPEAL IS LESS THAN RS. 10 LACS AND THE CBDT CIRCULAR NO. 21/2015 IS APPLICABLE TO THIS APPEAL AND THE APPEAL IS NOT MAINTAINABLE. 4. KEEPING IN VIEW THE CBDT CIRCULAR NO. 21/2015 DA TED 10 TH DECEMBER, 2015 WHICH IS APPLICABLE FROM RETROSPECTIVE EFFECT AND IS ALSO APPLICABLE TO PENDING APPEALS AND ALSO IN VIEW OF LD. AR MAKING S TATEMENT BEFORE US AS STATED ABOVE AND LD. DR STATING BEFORE US THAT THIS APPEAL IS NOW NOT MAINTAINABLE IN VIEW OF ABOVE CBDT CIRCULAR, WE HOL D THAT THE PRESENT APPEAL FILED BY THE REVENUE INVOLVING TAX EFFECT LESS THAN RS. 10 LACS IS NOT MAINTAINABLE. THE SAME IS, THEREFORE, DISMISSED AT THE THRESHOLD. ITA 3836/MUM/2014 3 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 31 ST DECEMBER, 2015. !' # $% &! ' 31-12-2015 ( ) SD/- SD/- (SANJAY GARG) (RAMIT KOCHAR) JUDICIAL MEMBER ACCOUNTANT MEMBER $ 8 MUMBAI ; &! DATED 31-12-2015 [ .9../ R.K. R.K. R.K. R.K. , EX. SR. PS ! '#$% &%# / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. : ( ) / THE CIT(A)- CONCERNED, MUMBAI 4. : / CIT- CONCERNED, MUMBAI 5. =>( 99?@ , ?@ , $ 8 / DR, ITAT, MUMBAI H BENCH 6. (BC D / GUARD FILE. ' / BY ORDER, = 9 //TRUE COPY// (/') * ( DY./ASSTT. REGISTRAR) , $ 8 / ITAT, MUMBAI