ITO - 5(1)(4), MUMBAI V. M/s. HEAVEN DISTILLERY P. LTD., MUMBAI

ITA 4520/MUM/2006

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 3882 (ITAT-MUMBAI)
• Duration Of Justice: 9 year(s) 8 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-04-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: I
• Next Hearing Date: 09-02-2016
• Assessment Year: 2001-2002
• Appeal Filed On: 08-08-2006
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MRS AGNES P THOMAS
• Assessee Lawyers: G P MEHTA
• Keywords: Retrospective amendment; Tax effect
• Section: 142(1)

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL I BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY , JM AND SHRI RAJESH KUMAR , AM ./ I.T.A. NO. 4 520 /MUM/2 006 ( / ASSESSMENT YEAR S : 20 0 1 - 02 ) I NCOME TAX OFFICER 5(1)(4), ROOM NO. 569 , 5TH FLOOR, AAYAKAR BHAVAN, M K ROAD, MUMBAI - 400020 / VS. M/S HEAVEN DISTILLERY PVT LTD., C/O G P MEHTA AND CO. CHARTERED ACCOUNTANTS, 807, TULSIANY CHAMBERS, NARIMAN POINT, MUMBAI - 400021. ./ PAN : AAACH8471K ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : MRS. AGNES P THOMAS / RESPONDENT BY : SHRI G P MEHTA / DATE OF HEARING : 2 8 . 4 . 2016 / DATE OF PRONOUNCEMENT : 2 8 . 4 . 2016 / O R D E R PER RAJESH KUMAR , AM : THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER DATED 06.06.2006 PASSED BY THE LD.CIT(A) - V , MUMBAI AND IT RELATES TO THE ASSESSMENT YEAR 2001 - 02 . 2. THE RETURN OF INCOME WAS FILED BY THE ASSESSEE ON 29.10.2001 DECLARING A TOTAL INCOME AT RS. 67,280 / - . THE ASSESSMENT WAS MADE BY THE AO U/S 143( 2 ) AND 142(1) OF THE ACT ASSESSING THE TOTAL INCOME AT RS. 17,01,270/ - . AGGRIEVED BY THE ORDER OF A O, THE ASSESSEE PREFERRED AN ITA NO. 4520 / MUM/20 06 2 APPEAL BEFORE THE FIRST APPELLATE AUTHORITY , WHO DELETED THE TOTAL AMOUNT OF RS.6,04,373 / - ON ACCOUNT OF ADDITION U/S 40A(3), ADMINISTRATIVE EXPENSES, EXPENSES INCURRED IN CONNECTION WITH TEA, COFFEE, LUNCH ETC, MEDICAL EXPEN SES OF TRAVELLING AND EXPENSES INCREASE IN OPENING STOCK AND ETC. THEREFORE, BALANCE ADDITION REMAINS RS.17,01,270 - 6,04,373=RS.10.96,897/ - . AGGRIEVED BY THE DECISION OF THE LD.CIT(A), THE REVENUE IS IN APPEAL BEFORE US. 3 . WE HAVE HEARD THE LD. DR AN D PERUSED THE MATERIAL ON RECORD . WE FIND THAT THE QUANTUM IN DISPUTE IS RS. 10,96,897/ - AND THE TAX EFFECT INVOLVED THEREIN IS LESS THAN RS.10 LAKHS. IN VIEW OF THE CIRCULAR ISSUED BY CBDT BEARING NO.21/2015 DATED 10.12.2015 PRESCRIBING NEW MONETARY LIMI T OF RS.10.00 LAKHS FOR PREFERRING APPEAL AGAINST THE ORDERS PASSED BY LD CIT(A) BEFORE THE TRIBUNAL, THE REVENUE IS PRECLUDED FROM PURSUING THIS APPEAL , AS THE SAID CIRCULAR HAS RETROSPECTIVE EFFECT AND IS APPLICABLE TO THE EXISTING APPEALS ALSO . ACCOR DINGLY, WE DISMISS THE APPEAL OF THE REVENUE. 4 . IN THE RESULT, THE APPEAL OF TH E REVENUE IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON 2 8 RD APRIL ,2016. 28 TH APRIL , 2016 SD SD ( SAKTIJIT DEY ) ( RAJESH KUMAR ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 2 8 / 04 /2016 . . ./ SRL , SR. PS ITA NO. 4520 / MUM/20 06 3 / 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 . / BY ORDER, TRUE COPY / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI