DDI (IT) 1(2), MUMBAI V. DBS BANK LTD, MUMBAI

ITA 443/MUM/2011

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 3971 (ITAT-MUMBAI)
• Duration Of Justice: 5 year(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-02-2016
• Appeal Filed By: Department
• Bench Allotted: L
• Next Hearing Date: 13-04-2016
• Assessment Year: 1995-1996
• Appeal Filed On: 17-01-2011
• Court: TRIBUNAL
• Department Lawyers: JASBIR CHA UHAN
• Assessee Lawyers: MADHUR AGARWAL A R
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

, , L, IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES L, MUMBAI , , , BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER, AND SHRI ASHWANI TANEJA, ACCOUNTANT MEMBER ITA NO.443/MUM/2011 ASSESSMENT YEAR: 1995-96 DDI (IT) 1(2) 119, 1 ST FLOOR, SCINDIA HOUSE, N.M. ROAD, BALLARD ESTATE, MUMBAI-400038 / VS. M/S. DBS BANK LTD. 3 RD FLOOR, FORT HOUSE, 221, DR. D.N. ROAD, MUMBAI-400 001 ( REVENUE ) ( RESPONDENT ) P.A. NO. AAACT4652J REVENUE BY SHRI JASBIR CHAUHAN CIT (DR) RESPONDENT BY SHRI MADHUR AGARWAL ( A R) $ % & '( / DATE OF HEARING : 15/02/2016 & '( / DATE OF ORDER: 15/02/2016 / O R D E R PER ASHWANI TANEJA (ACCOUNTANT MEMBER): THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST T HE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-1 0, MUMBAI {(IN SHORT CIT(A)}, DATED 05.10.2010 FOR THE ASSESSMENT YEAR 1995-96, PASSED AGAINST THE ASSESSM ENT DBS BANK LTD. 2 ORDER PASSED BY THE ASSESSING OFFICER (IN SHORT AO ) U/S 143(3) OF THE ACT. 2. DURING THE COURSE OF HEARING, ARGUMENTS WERE MADE B Y SHRI MADHUR AGARWAL, AUTHORISED REPRESENTATIVE (AR) ON BEHALF OF THE ASSESSEE AND BY SHRI JASBIR CHAUHAN, CIT, DEPARTMENTAL REPRESENTATIVE (DR) ON BEHALF OF THE R EVENUE. 3. IT IS NOTED THAT AN APPLICATION DATED 10.02.2015 H AS BEEN FILED BY THE LD. COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2, MUMBAI, ON BEHALF OF T HE REVENUE WITH REGARD TO WITHDRAWAL OF THE APPEAL. TH E APPLICATION READS AS UNDER: SUB: WITHDRAWAL OF APPEAL IN THE CASE OF DBS BANK LTD, MUMBAI-AY 1995-96-REG REF: NO. ITA 443/MUM/2011 ****** PLEASE REFER TO THE ABOVE. THE UNDERSIGNED HAS BEING AUTHORIZATION TO FILE APP EAL BEFORE ITAT IN THE CAPTIONED CASE FOR AY 1995-96 AN D THE APPEAL WAS FILED ON 17.01.2011. AS THE CBDT HAS REVISED THE MONETARY LIMITS TO FILE APPEAL VIDE ITS INSTRUCTION NO.21/2015 DATED 10.12.2015, THE NEW MONETARY LIMIT TO FILE AN APPEA L TO ITAT IS RS.10 LAKHS. IN THE AFOREMENTIONED CASE, THE TAX EFFECT IS BELOW THE PRESCRIBED LIMIT. HENCE, IT IS REQUESTED TO WITHDRA W THE DBS BANK LTD. 3 APPEAL ON THE BASIS OF TAX LIMIT, HOWEVER, THE ORDE R OF CIT(A) IS NOT ACCEPTED ON MERIT. NEXT DATE OF HEARI NG IN THIS CASE IS ON 13.02.2016. THE DETAIL IN THIS REGARD IS MENTIONED HEREWITH, FO R NECESSARY ACTION AT YOUR END: SR. NO. NAME OF THE CASE AY TAX EFFECT ITA NO. DATE OF FILING 1 DBS BANK LTD 1995-96 RS.2.16 LAKHS 443/M/2011 17. 01.2011 YOURS FAITHFULLY, SD/- (VK GUPTA) COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2, MUMBAI 4. IN VIEW OF THE ABOVE APPLICATION AND IN VIEW OF TH E CIRCULAR OF THE BOARD MENTIONED IN THE ABOVE APPLIC ATION, WE DISMISS THE APPEAL FILED BY THE REVENUE, BEING N OT MAINTAINABLE. 5. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMI SSED. ORDER PRONOUNCED IN THE OPEN COURT ON 15 TH FEBRUARY, 2016. SD/- (SANJAY GARG ) SD/- (ASHWANI TANEJA) ! / JUDICIAL MEMBER ' ! / ACCOUNTANT MEMBER $ % MUMBAI; * DATED : 15/02/2016 CTX? P.S/. .. DBS BANK LTD. 4 #$%&'(')% / COPY OF THE ORDER FORWARDED TO : 1. , -. / THE APPELLANT 2. /0-. / THE RESPONDENT. 3. 1' 1 $ 2 ( , ) / THE CIT, MUMBAI. 4. 1' 1 $ 2 / CIT(A)- , MUMBAI 5. 56 / 78 , 1' ,( 78'9 , $ % / DR, ITAT, MUMBAI 6. : ; % / GUARD FILE. / BY ORDER, 0 5, / //TRUE COPY// / (DY./ASSTT. REGISTRAR) , $ % / ITAT, MUMBAI