ACIT 4(2)(1), MUMBAI V. PHILIP CAPITAL (INDIA) P.LTD, MUMBAI

ITA 4519/MUM/2016

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 8234 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 8 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-03-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2010-2011
• Appeal Filed On: 01-07-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ABI RAMA KARTIKIYEN
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

P A G E | 1 ITA NO. 4519/MUM/2016 A.Y. 2010 - 11 THE DCIT - 4(2)(1) VS. M/S PHILIP CAPITAL(INDIA) PVT. LTD. IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI BEFORE SHRI RAVISH SOOD , JUDICIAL MEMBER AND SHRI N.K. PRADHAN, ACCOUNTANT MEMBER ITA NO. 4519/MUM/2016 (ASSESSMENT YEAR: 2010 - 11 ) THE DCIT - 4(2)(1), ROOM NO. 642, 6 TH FLOOR, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI 400 020 VS. M/S PHILIP CAPITAL (INDIA) PVT. LTD. NO. 1, 2 ND FLOOR, C - BLOCK, MODERN MILLS COMPOUND, 101, K.K. MARG, JACOB CIRCLE, MAHALAXMI, MUMBAI 400 011 PAN AABCR6382C APPELLANT RESPONDENT APPELLANT BY: SHRI ABI RAMA KARTIKIYEN , D .R RESPONDENT BY: SHRI NISHANT THAKKAR , A.R DATE OF HEARING: 26 .03 .2019 DATE OF PRONOUNCEMENT: 29 . 03 .2019 O R D E R PER RAVISH SOOD, JM T HE CAPTIONED APPEAL FILED BY THE REVENUE PE RTAINING TO ASSESSMENT YEAR 201 0 - 11 IS DIRECTED AGAINS T THE ORDER PASSED BY CIT(A) - 9 , MUMBAI, DATED 21.03.2016 , WHICH IN TURN ARISES FROM THE ORDER PASSED BY THE ASSESSING OFFICER UNDER SEC. 143(3) OF THE INCOME TAX ACT, 1961 (FOR SHORT THE ACT), DATED 10.03.2014 . 2. ON A P ERUSAL OF THE RECORD, IT STANDS REVEALED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS.20.00 LACS. THE LD. DEPARTMENTAL REPRESENTATIVE (FOR S HORT D.R) ON BEING CONFRONTED ADMITTED THE SAID FACTUAL POSITION. 3. WE FIND THAT THE CBDT VIDE ITS CIRCULAR NO.03/2018, DATED 11/07/2018 HAS REVISED THE MONETARY LIMITS FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL, RETROSPECTIVELY. SINCE THE TAX EFFECT IN P A G E | 2 ITA NO. 4519/MUM/2016 A.Y. 2010 - 11 THE DCIT - 4(2)(1) VS. M/S PHILIP CAPITAL(INDIA) PVT. LTD. DISPUTE IN THE CAPTIONED APPEAL IS ADMITTEDLY BELOW T HE MONETARY LIMIT OF RS.20.00 LACS SPECIFIED IN THE CBDT CIRCULAR NO. 03/2018, DATED 11/07/2018, THEREFORE, THE SAME IS DISMISSED AS NOT MAINTAINABLE. 4 . IN THE RESULT, APPEAL OF THE R EVENUE IS DISMISSED. ORDER P RONOUNCED IN THE OPEN COURT ON 29. 03 .20 19 SD/ - SD/ - ( N.K. PRADHAN ) (RAVISH SOOD) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI ; 29.03.2019 PS. ROHIT / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE . //TRUE COPY// / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI P A G E | 3 ITA NO. 4519/MUM/2016 A.Y. 2010 - 11 THE DCIT - 4(2)(1) VS. M/S PHILIP CAPITAL(INDIA) PVT. LTD.