ACIT - 10(1)(2), MUMBAI V. KSHITIJ INTERIORS PVT. LTD., MUMBAI

ITA 4177/MUM/2017

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 5907 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-01-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2010-2011
• Appeal Filed On: 07-06-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 2

Judgement Text

, ,, , IN THE INCOME TAX APPELLATE TRIBUNAL H BENCH, MUM BAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER & SHRI RAM LAL NEGI, JUDICIAL MEMBER ./ ITA NO.4177/MUM/2017 ( / ASSESSMENT YEAR :2010-2011) ACIT-10(1)(2), MUMBAI VS. KSHITIJ INTERIORS PVT. LTD., 210, NEW APOLLO ESTATE PREMISES COOP. SOC. LTD., OLD NAGARDAS ROAD, 23, MOGRA VILLAGE, ANDHERI(E)-400069 ./PAN NO. : AABCK 8174 D ( /APPELLANT ) .. ( / RESPONDENT ) AND CROSS OBJECTION NO.315/MUM/2018 (ARISING OUT OF ITA NO.4177/MUM/2017) ( / ASSESSMENT YEAR :2010-2011) KSHITIJ INTERIORS PVT. LTD., 210, NEW APOLLO ESTATE PREMISES COOP. SOC. LTD., OLD NAGARDAS ROAD, 23, MOGRA VILLAGE, ANDHERI(E)- 400069 VS. ACIT-10(1)(2), MUMBAI ./PAN NO. : AABCK 8174 D ( /APPELLANT ) .. ( / RESPONDENT ) /REVENUE BY : SHRI MANOJ KUMAR SINGH, CITDR /ASSESSEE BY : SHRI VISHWAS MEHENDALE / DATE OF HEARING : 09/01/2019 /DATE OF PRONOUNCEMENT 15/01/2019 / O R D E R PER RAJESH KUMAR, AM : THIS APPEAL BY REVENUE ARISES OUT OF THE ORDER OF T HE CIT(A) 17, MUMBAI, DATED 07.03.2017, WHICH IN TURN HAS ARISEN OUT OF THE ORDER ITA NO.4177/17 & CO NO.315/MUM/2018 2 PASSED U/S.271(1)(C) OF THE ACT RELATING TO A.Y. 20 10-2011. THE ASSESSEE HAS ALSO FILED CROSS OBJECTION. 2. THE ONLY ISSUE RAISED BY THE REVENUE IS AGAINST THE CANCELLATION AND DELETION OF PENALTY BY CIT(A) AS IMPOSED BY TH E AO U/S.271(1)(C) OF THE ACT. 3. AT THE OUTSET, LD. AR OF THE ASSESSEE SUBMITTED THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS BELOW RS.20 LAKHS AND, THEREFORE, THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE IN TERMS OF CBDT CIRCULAR NO.03/2018, DATED 11.07.2018. THEREFORE, THE APPEAL OF THE REVENUE DESERVED TO BE DISMISSED. 4. LD. DR, ON THE OTHER HAND, RELIED ON THE GROUNDS OF APPEAL AND ORDER OF THE AO. 5. AFTER HEARING BOTH THE PARTIES AND PERUSING THE MATERIAL AVAILABLE ON RECORD, WE FIND THAT THE ADDITION/DISALLOWANCE OF T HE QUANTUM APPEAL HAS BEEN REDUCED BY THE LD. CIT(A) VIDE ORDER NO.CIT(A) -17/IT407/2014-15, DATED 27.01.2017 TO RS.12,00,982/- FROM RS.96,07,85 2/- AND, THUS, THE PENALTY WAS TO BE LEVIED ON THE REDUCED QUANTUM OF RS.12,00,982/-. APPARENTLY, THE AMOUNT OF PENALTY ON THIS AMOUNT IS LESS THAN THE AMOUNT AS SPECIFIED IN THE CBDT CIRCULAR NO.03/2018, DATED 11.07.2018. THEREFORE, THE APPEAL OF THE REVENUE IS NOT MAINTAI NABLE IN THE TERMS OF THE SAID CIRCULAR. ACCORDINGLY, WE DISMISS THE APPE AL OF REVENUE. 6. SINCE WE HAVE DISMISSED THE APPEAL OF REVENUE FO R HAVING NO TAX EFFECT, THEREFORE, THE CROSS OBJECTION FILED BY THE ASSESSEE BEING CO ITA NO.4177/17 & CO NO.315/MUM/2018 3 NO.315/MUM/2018 HAS BECOME INFRUCTUOUS AND ACCORDIN GLY, THE SAME IS ALSO DISMISSED. 7. IN THE RESULT, APPEAL OF THE REVENUE AND CROSS O BJECTION OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 15/01/2019. SD/- (RAM LAL NEGI) SD/- (RAJESH KUMAR) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED 15/01/2019 . . /PRAKASH KUMAR MISHRA , SR.PS. / COPY OF THE ORDER FORWARDED TO : / BY ORDER, ( ASSISTANT 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//