DCIT 14(1)(1), MUMBAI V. ASREC (INDIA) LTD, MUMBAI

ITA 4319/MUM/2015

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 7889 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 8 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-03-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2011-2012
• Appeal Filed On: 10-07-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJESH KUMAR YADAV
• Keywords: Retrospective amendment; Tax effect

Judgement Text

A IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI BEFORE SHRI D T GARASIA, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ./ I.T.A. NO. 4319 /MUM/2015 ( / ASSESSMENT YEAR : 2011-12) THE DEPUTY COMMISSIONER OF INCOME TAX,14(1)(1) 460, AAYAKAR BHAWAN 4 TH FLOOR, M K MARG MUMBAI-400 020 / V. ASREC (INDIA) LIMITED SOLATAIRE CORPORATE PARK BUILDING NO. 2 UNIT NO. 201 , 202A AND 200-202B, GROUND FLOOR, ANDHERI , GHATKOPAR LINK ROAD, CHAKALA , ANDHERI EAST, MUMBAI - 400093 ./ PAN : AAECA7990G ( / APPELLANT ) .. ( / RESPONDENT ) REVENUE BY SHRI RAJESH KUMAR YADAV ASSESSEE BY : SHRI UDAY SHAH / DATE OF HEARING : 22-3-2017 / DATE OF PRONOUNCEMENT : 22-03-2017 / O R D E R PER RAMIT KOCHAR, ACCOUNTANT MEMBER : THIS APPEAL FILED BY THE REVENUE IS DECIDED VIDE THIS ORDER AS THE APPEAL IS DISPOSED OF BECAUSE TAX EFFECT IN THIS AP PEAL IS LESS THAN RS. 10 LACS AS PER THE CBDT CIRCULAR NO. 21/2015, F. NO. 279/MI SC.142/2007-ITJ (PT) DATED 10 TH DECEMBER, 2015 ISSUED BY CENTRAL BOARD OF DIRECT T AXES, DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, GOVERNM ENT OF INDIA. ITA 4319/M/2015 2 2. THE LEARNED COUNSEL FOR THE ASSESSEE STATED THAT THE TAX EFFECT IN THIS APPEAL IS LESS THAN RS. 10 LACS. THE LD. D.R. ALSO SUBMITTED AND CONFIRMED THAT TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THA N RS. 10 LACS AND THE CBDT CIRCULAR NO. 21/2015 IS APPLICABLE TO THIS APPEAL A ND THIS APPEAL IS NOT MAINTAINABLE/NOT PRESSED IN TERMS OF CBDT CIRCULAR NO 21/2015 DATED 10/12/2015. THE LD. DR SUBMITTED THAT AS PER THE L ATEST 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, MINISTRY OF FINANCE, GOVERNMENT OF INDIA, NO APPEAL SHALL BE FI LED BY THE REVENUE IN RESPECT OF AN ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MONETARY LIMIT SPECIFIED IN PARA 3 OF THE CIRCULAR 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 MAY BE WITHDRAWN/NOT PRESSED. 3. 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 DR STATING BEFO RE US THAT THESE APPEAL IS NOW NOT MAINTAINABLE/NOT PRESSED IN VIEW OF THE ABO VE CBDT CIRCULAR, WE HOLD THAT THE APPEAL COVERED BY THIS ORDER FILED B Y THE REVENUE INVOLVING TAX EFFECT LESS THAN RS. 10 LACS IS NOT MAINTAINABLE. THE SAME IS, THEREFORE, DISMISSED AT THE THRESHOLD. HOWEVER, THE REVENUE IS AT LIBERTY TO FILE AN ITA 4319/M/2015 3 APPLICATION FOR RECALL OF THIS APPEAL IF AT ANY STA GE REVENUE WANTS TO AGITATE THE MATTER IN ACCORDANCE WITH THE PROVISIONS/CLAUSE S AS CONTAINED IN THE AFORE-STATED CIRCULAR. 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND MARCH 2017. # $% &' 22-03-2017 ( ) SD/- SD/- (D T GARASIA) (RAMIT KOCHAR) JUDICIAL MEMBER ACCOUNTANT MEMBER $ MUMBAI ; & DATED 22-03-2017 [ .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?@ , ?@ , $ / DR, ITAT, MUMBAI H BENCH 6. (BC D / GUARD FILE. / BY ORDER, = 9 //TRUE COPY// / ( DY./ASSTT. REGISTRAR) , $ / ITAT, MUMBAI