ITO 22(1)(3), NAVI MUMBAI V. MOHAN VELJI PATEL, MUMBAI

ITA 4507/MUM/2014

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 8507 (ITAT-MUMBAI)
• Duration Of Justice: 6 year(s) 6 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-01-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2002-2003
• Appeal Filed On: 30-06-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: THARIAN OOMMEN LD
• Assessee Lawyers: DNYANESHWAR KATARAMLD
• Keywords: Tax effect
• Section: 271(1)(c)

Judgement Text

ITA NO.4507/MUM/2014 M/S. MOHAN VELJI PATEL ASSESSMENT YEAR: 2002-03 1 IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI , , BEFORE HONBLE SHRI MAHAVIR SINGH, VP AND HONBLE SHRI MANOJ KUMAR AGGARWAL, AM (HEARING THROUGH VIDEO CONFERENCING MODE) ./ I.T.A. NO.4507/MUM/2014 ( / ASSESSMENT YEAR: 2002-03) INCOME TAX OFFICER - 22(1)(3) R.NO.406, 4 TH FLOOR, TOWER NO.6 VASHI RAILWAY STATION COMPLEX VASHI, NAVI MUMBAI-400 703. / VS. MR. MOHAN VELJI PATEL C/O. ASIT MEHTA FLAT NO.11A, 5 TH FLOOR, KEVAL MAHAL NETAJI SUBHASH ROAD, MARINE DRIVE MUMBAI-400 020. !' ./ ./PAN/GIR NO. AAAPP-9127-H ( '$ /APPELLANT ) : ( %&'$ / RESPONDENT ) ASSESSEE BY : SHRI DNYANESHWAR KATARAM-LD.AR REVENUE BY : SHRI THARIAN OOMMEN- LD. DR / DATE OF HEARING : 11/01/2021 / DATE OF PRONOUNCEMENT : 11/01/2021 / O R D E R MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. BY WAY OF CAPTIONED APPEAL, THE REVENUE CHALLENG ES THE ORDER OF LD. FIRST APPELLATE AUTHORITY IN DELETING PENALT Y U/S 271(1)(C) FOR RS.31.98 LACS. THE IMPUGNED PENALTY WAS LEVIED BY L D. ASSESSING OFFICER VIDE ORDER DATED 30/03/2012. 2. THE LD. COUNSEL FOR ASSESSEE, AT THE OUTSET, SUB MITTED THAT QUANTUM OF PENALTY UNDER DISPUTE IS BELOW PRESCRIBE D THRESHOLD ITA NO.4507/MUM/2014 M/S. MOHAN VELJI PATEL ASSESSMENT YEAR: 2002-03 2 LIMIT OF RS.50 LACS AND THEREFORE, THE REVENUES AP PEAL IS NOT MAINTAINABLE IN TERMS OF LATEST LOW TAX EFFECT CBDT CIRCULAR NO. 17/2019 DATED 08/08/2019 [F.NO.279/MISC. 142/2007-TTJ(PT.) . THE LD. DR COULD NOT POINT OUT ANY EXCEPTION TO CONTROV ERT THE PLEA RAISED BY LD. AR. 3. AFTER GOING THROUGH MATERIAL ON RECORD, WE FIND THAT THE QUANTUM OF PENALTY UNDER DISPUTE IS BELOW THRESHOLD MONETARY LIMIT OF RS.50 LACS AND THEREFORE, THE APPEAL IS NOT MAIN TAINABLE IN TERMS OF RECENTLY ISSUED LOW TAX EFFECT CIRCULAR NO . 17/2019 DATED 08/08/2019 [F.NO.279/MISC. 142/2007-TTJ(PT.) ISSUED BY CBDT. THIS RECENT CIRCULAR FURTHER ENHANCES THE MONETARY LIMIT FIXED IN EARLIER CIRCULAR NO.3 OF 2018 DATED 11/07/2018 ISSU ED BY CBDT AS AMENDED ON 20/08/2018. IN VIEW OF THE SAME, THE AP PEAL IS NOT MAINTAINABLE. 4. AT THE SAME TIME, A LIBERTY IS GIVEN TO REVENUE TO SEEK RECALL OF THE APPEAL, IF AT A LATER STAGE, IT IS FOUND THA T THE MATTER IS COVERED BY ANY EXCEPTIONS PROVIDED IN ANY OF THE CI RCULAR OR IN CASE THE TAX EFFECT IN THE APPEAL EXCEEDS THE PRESCRIBED MONETARY LIMIT. ORDER PRONOUNCED ON 11 TH JANUARY, 2021. SD/- SD/- (MAHAVIR SINGH) (MANOJ KUMAR AGGARWAL) / VICE PRESIDENT / ACCOUNTANT MEMBER MUMBAI; DATED : 11/01/2021 SR.PS, JAISY VARGHESE ITA NO.4507/MUM/2014 M/S. MOHAN VELJI PATEL ASSESSMENT YEAR: 2002-03 3 / COPY OF THE ORDER FORWARDED TO : 1. '$ / THE APPELLANT 2. %&'$ / THE RESPONDENT 3. - ( ) / THE CIT(A) 4. - / CIT CONCERNED 5. ./% ( 0 , 0 , / DR, ITAT, MUMBAI 6. /123 / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.