ITO 2(3)(4), MUMBAI V. VICTORIA CAPITAL VENTURES LTD, MUMBAI

ITA 4103/MUM/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4479 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 6 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-01-2016
• Appeal Filed By: Department
• Bench Allotted: F
• Next Hearing Date: 03-03-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 11-06-2012
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

, , F, IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES F, MUMBAI , , , BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER, AND SHRI ASHWANI TANEJA, ACCOUNTANT MEMBER ITA NO.4103/MUM/2012 ASSESSMENT YEAR: 2005-06 & ITA NO.4104/MUM/2012 ASSESSMENT YEAR: 2007-08 ITO - 2 ( 3 ) ( 4 ) , R. NO.555, 5 TH FLOOR, AAYAKAR BHAVAN M.K. RD. MUMBAI 400020 / VS. VICTORIA CAPITAL VENTURES LTD. 1 ST FLOOR, BHARAT HOUSE, 104, MUMBAI SAMACHAR MARG, FORT, MUMBAI-400001 (REVENUE) (RESPONDENT) P.A. NO. AAACV3287D REVENUE BY SHRI SANJEEV KASHYAP (DR) RESPONDENT BY NONE / DATE OF HEARING : 05/01/2016 / DATE OF ORDER: 5/01/2016 / O R D E R PER BENCH: THESE APPEALS HAVE BEEN FILED BY THE REVENUE AGAINS T THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-6 , MUMBAI VICTORIA CAPITAL VENTURES 2 {(IN SHORT CIT(A)}, DATED 16.03.2012 FOR THE ASS ESSMENT YEARS 2005-06 AND 2007-08, PASSED AGAINST THE ASSESSMENT ORDER PASSED BY THE ASSESSING OFFICER (IN SHORT AO) U/S 143(3) OF THE ACT. 2. DURING THE COURSE OF HEARING, NONE APPEARED ON BEHA LF OF THE RESPONDENT AND ARGUMENTS WERE MADE BY SHRI SANJ EEV KASHYAP, DEPARTMENTAL REPRESENTATIVE (DR) ON BEHALF OF THE REVENUE. 3. DURING THE COURSE OF HEARING, IT HAS BEEN BROUGHT TO OUR NOTICE BY THE LD. DR THAT TAX EFFECT IN THESE APPEA LS IS LESS THAN A SUM OF RS.10 LAKHS, AND ACCORDINGLY, IT WAS SUBMITTED THAT IN VIEW OF RECENT CIRCULAR ISSUED BY THE CENTR AL BOARD OF DIRECT TAXES NO.21/2015 DATED 10 TH DECEMBER, 2015, THESE APPEALS MAY BE TREATED AS WITHDRAWN/NOT PRESSED. LD . DR HAS ALSO PLACED A COPY OF THE CIRCULAR BEFORE THE BENCH , 3.1. WE HAVE GONE THROUGH THE AFORESAID CIRCULAR OF THE BOARD. IT HAS BEEN PROVIDED IN THE AFORESAID CIRCULAR THAT NO APPEAL SHALL BE FILED BY THE REVENUE IF THE TAX EFFECT INV OLVED IN THE APPEAL DOES NOT EXCEED A SUM OF RS. 10 LAKHS. IT HA S FURTHER BEEN PROVIDED THAT INSTRUCTIONS CONTAINED THEREIN S HALL APPLY RETROSPECTIVELY TO PENDING APPEALS ALSO. RELEVANT P ART OF THE CIRCULAR IS REPRODUCED BELOW: 10. THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO BE FILED HENCEFORTH IN HIGH COURTS/ TRIBUNAL. PENDING APPEALS BELOW THE VICTORIA CAPITAL VENTURES 3 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 AP PEAL WAS FILED. 3.2. IN VIEW OF THE SUBMISSIONS OF LD. DR AND CIRCULAR OF THE BOARD, WE FIND THAT THE APPEALS OF THE REVENUE ARE NOT MAINTAINABLE AND THEREFORE, IT IS HELD THAT THESE A PPEALS ARE NOT MAINTAINABLE AND DISMISSED AS WITHDRAWN. 4. IN THE RESULT, THESE APPEALS FILED BY THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 5 TH JANUARY, 2016. SD/- (SANJAY GARG ) SD/- (ASHWANI TANEJA) ! / JUDICIAL MEMBER ' ! / ACCOUNTANT MEMBER MUMBAI; ' DATED : 5 /01/2016 CTX? P.S/. .. #$%&'(')% / COPY OF THE ORDER FORWARDED TO : 1. $ %& / THE APPELLANT 2. '(%& / THE RESPONDENT. 3. ) ) * ( $ ) / THE CIT, MUMBAI. 4. ) ) * / CIT(A)- , MUMBAI 5. -. ' /0 , ) $ /01 , / DR, ITAT, MUMBAI 6. 2 3 / GUARD FILE. / BY ORDER, ( -$ ' //TRUE COPY// / (DY./ASSTT. REGISTRAR) VICTORIA CAPITAL VENTURES 4 , / ITAT, MUMBAI