ACIT-27(3), Mumbai V. SMT.SOSARDEVI GANESHLAL KACHHARA, Mumbai

ITA 4414/MUM/2018

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 5905 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-07-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 05-07-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: CHAITANYA ANJARIA
• Keywords: Tax effect
• Section: 10; 2; 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH SMC , MUMBAI BEFORE SHRI C.N. PRASAD , HONBLE JUDICIAL MEMBER ITA NO S . 4413, 4414 & 4415 /MUM/201 8 (A.Y S : 2010 - 11, 2011 - 12 & 2012 - 13) ASSISTANT COMMISSIONER OF INCOME - TAX 27( 3) R.NO. 423, 4 TH FLOOR , TOWER NO. 6 VASHI RAILWAY STATION VASHI, NAVI MUMBAI 400 703 V. SOSARDEVI GANESHLAL KACHHARA 903, KAILASH TOWERS VALLABH BAUG LANE GHATKOPAR (E) , MUMBAI 400 077 PAN NO: AGPPK 2410 B (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI JAYANT R. BHATT DEPARTMENT BY : SHRI CHAITANYA ANJARIA DATE OF HEARING : 22.07.2019 DATE OF PRONOUNCEMENT : 22.07.2019 O R D E R PER C.N. PRASAD (JM) ALL THESE APPEAL S ARE FILED BY THE REVENUE AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) - 25 , MUMBAI IN APPEAL NO. CIT(A) - 25 / IT - 427, 428 & 429 /16 - 17 DATED 04.04.2019 FOR THE ASSESSMENT YEAR S 2010 - 11 , 2011 - 12 AND 2012 - 13. 2. THE REVENUE HAS RAISED THE FOLLOWING COMMON GROUNDS IN ITS APPEAL S EXCEPT FOR FIGURES : - 2 ITA NO S . 4413, 4414 & 4415 /MUM/201 8 SOSARDEVI GANESHLAL KACHHARA (I) . ON THE FACTS A ND CIRCUMSTANCES OF THE CASE, THE LD. CIT ( A) HAS ERRED IN DELETING THE SUBSTANTIVE ADDITION OF INTEREST EXPENSES FOR . 5,40,000/ - U/S. 68 OF THE I.T. ACT , 1961, CLAIMED ON THE BOGUS & UNEXPLAINED UNSECURED LOANS. (II) THE APPELLANT CRAVES LEAVE TO AMEND, MODIFY AND ALTER ANY GROUNDS OF APPEAL DURING THE COURSE OF HEARING OF THIS CASE. 3. AT THE TIME OF HEARING, AUTHORIZED REPRESENTATIVE OF THE ASSESSEE SUBMITTED THAT TAX EFFECT ON THE ISSUE IN THE PRESENT APPEAL S ARE BELOW 2 0 LAC S AND IN VIEW OF THE CBDT CIRCULAR N O . 3/2018 DATED 11/07 /201 8 IN F.NO.279/MISC.142/2007 - ITJ (PT) , THE APPEAL S OF THE REVENUE ARE NOT MAINTAINABLE. 4. D EPARTMENTAL REPR ESENTATIVE ALSO AGREED WITH THE ABOVE SUBMISSION OF THE AUTHORIZED REPRESENTATIVE OF THE ASSESSEE . 5. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE GROUNDS OF APPEAL IN ALL THESE APPEALS . FROM THE GROUNDS OF APPEAL OF THE APPEALS FILED BY THE REVENUE , IT IS OBSERVED THAT THE REVENUE IS CON TESTING THE ADDITION MADE U/S. 68 OF THE ACT BY THE ASSESSING OFFICER OF . 5,40,000/ - , . 5,85,000/ - AND . 6,30,000/ - WHICH WAS DELETED BY THE LD.CIT(A) . SINCE THE ADDITION S DELETED BY THE LD.CIT(A) WERE ALL LE SS THAN . 10 LAKHS , W E FIND THAT THE TAX EFFECT IN ALL THESE APPEAL S IS LESS THAN .20 LAKHS AND T HEREFORE THE APPEAL S OF THE REVENUE ARE NOT MAINTAINABLE ON ACCOUNT OF LOW TAX EFFECT IN VIEW OF THE ABOVE CBDT CIRCULAR. HENCE THE SE APPEAL S ARE DISMISSED . 3 ITA NO S . 4413, 4414 & 4415 /MUM/201 8 SOSARDEVI GANESHLAL KACHHARA 6. IN THE RESULT, APPEAL S OF THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THE 22 ND JUL Y , 2019 . SD / - (C.N. PRASAD) JUDICIAL MEMBER MUMBAI / DATED 22/07 / 2019 GIRIDHAR, SR.PS COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY// BY ORDER, (ASSTT. REGISTRAR) ITAT, MUM