DCIT-2(3)(1), Mumbai V. M/S TATA CHEMICALS LTD, Mumbai

ITA 3861/MUM/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 2153 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 5 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-11-2020
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2014-2015
• Appeal Filed On: 31-05-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL E BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY , JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL , ACCOUNTANT MEMBER ITA NO. 3861 /MUM. /201 9 ( ASSESSMENT YEAR : 20 14 1 5 ) DY. COMMISSIONER OF INCOME TAX CIRCLE 2 ( 3 )( 1 ), MUMBAI . APPELLANT V/S TATA CHEMICALS LTD. BOMBAY HOUSE 24, HOMI MODY STREET FOR, MUMBAI 400 001 PAN AAACT4059M . RESPONDENT REVENUE BY : MS. LEENA SRIVASTAVA ASSESSEE BY : NONE DATE OF HEARING 26 .11.2020 DATE OF ORDER 26.11.2020 O R D E R PER SAKTIJIT DEY. J.M. THE AFORESAID APPEAL HAS BEEN FILED BY THE REVENUE CHALLENGING THE ORDER DATED 6 TH MARCH 2019, PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) 6, MUMBAI, PERTAINING TO THE ASSESSMENT YEAR 2014 15. 2. WHEN THE APPEAL WAS CALLED FOR HEARING, NO ONE WAS PRESENT ON BEHALF OF THE RESPONDENT ASSESSEE TO REPRESENT THE CASE. THERE IS NO 2 TATA CHEMICALS LTD. APPLICATION SEEKING ADJOURNMENT EITHER. CONSIDERING THE NATURE OF DISPUTE, WE PROCEED TO DISPOSE OFF THE APPEAL EX PARTE QUA THE ASSESSEE AFTER HEARING THE LEARNED DEPARTMENTAL REPRESENTATIVE AND ON THE BASIS OF MATERIAL AVAILABLE ON RECORD. 3. DURING THE COURSE OF HEARING, ON A QUERY FROM THE BENCH, THE LEARNED DEPARTMENTAL REPRESENTATIVE FAIRLY SUBMITTED THAT THE TAX EFFECT ON T HE AMOUNT DISPUTED IN THE PRESENT APPEAL IS BELOW THE MONETARY LIMIT OF ` 50,00,000, AS PER CBDT CIRCULAR NO.17 OF 2019, DATED 8 TH AUGUST 2019. 4. H AVING CONSIDERED THE SUBMISSION OF THE LEARNED DEPARTMENTAL REPRESENTATIVE AND PERUSED THE MATERIAL ON RECORD, PRIMA FACIE, WE ARE OF THE VIEW THAT THE TAX EFFECT ON THE AMOUNT DISPUTED BY THE REVENUE IN THE PRESENT APPEAL IS BELOW THE REVISED MONETARY LIMIT OF ` 50 LAKH AS PER CBDT CIRCULAR NO.17/2019, DATED 8 TH AUGUST 2019, R/W CBDT CIRCULAR NO.3/2018, DATED 11 TH JULY 2018. IT ALSO STANDS CLARIFIED BY THE CBDT THAT THE REVISED MONETARY LIMIT OF ` 50 LAKH AS PER THE AFORESAID CBDT CIRCULARS WOULD ALSO APPLY TO ALL PENDING APPEALS. IN VIEW OF THE AFORESAID, REVENUES APPEAL DESERVES TO BE DISMISSED. HOWEVER, THE REV ENUE IS GIVEN LIBERTY TO SEEK RECALL OF THIS ORDER IF, AT A LATER POINT OF TIME, IT IS FOUND THAT THE TAX EFFECT IS MORE THAN ` . 50 3 TATA CHEMICALS LTD. LAKH, OR, THE APPEAL FALLS UNDER ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCULARS REFERRED TO ABOVE. 5. IN THE RESULT, REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED ON 26.11.2020. SD/ - MANOJ KUMAR AGGARWAL ACCOUNTANT MEMBER SD/ - SAKTIJIT DEY JUDICIAL MEMBER MUMBAI, DATED: 26.11.2020. COPY OF THE ORDER FORWARDED TO : (1) THE ASSESSEE; (2) THE REVENUE; (3) THE CIT(A); (4) THE CIT, MUMBAI CITY CONCERNED; (5) THE DR, ITAT, MUMBAI; (6) GUARD FILE . TRUE COPY BY ORDER PRADEEP J. CHOWDHURY SR. PRIVATE SECRETARY ASSISTANT REGISTRAR ITAT, MUMBAI