DCIT 9(3), MUMBAI V. TIPCO INDUSTRIES LTD, MUMBAI

ITA 4539/MUM/2013

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 2110 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 5 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-11-2016
• Appeal Filed By: Department
• Bench Allotted: E
• Next Hearing Date: 06-04-2015
• Assessment Year: 2004-2005
• Appeal Filed On: 07-06-2013
• Court: TRIBUNAL
• Department Lawyers: AKHILENDRA YADAV
• Assessee Lawyers: AARTI SATHE KALPESH TURALKAR
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL E BENCH, MUMBAI BEFORE SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER AND SHRI C.N. PRASAD , JUDICIAL MEMBER I.T.A. NO.4539/M/2013 (ASSESSMENT YEAR: 2004 - 2005) DCIT - 9(3), 2 ND FLOOR, R.NO.229, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI 400 020. / VS. TIPCO PLAZA, RANI SATI MARG, MALAD (E), MUMBAI 97. ./ PAN : AAACT1678E ( / APPELLANT) .. ( / RESPONDENT ) / APPELLANT BY : SHRI AKHILENDRA YADAV, DR / RESPONDENT BY : MS. AARTI SATHE, KALPESH TURALKAR / DATE OF HEARING : 09.11.2016 / DATE OF PRONOUNCEMENT : 09 .11.2016 / O R D E R PER D. KARUNAKARA RAO, AM: THIS APPEAL FILED BY THE REVENUE ON 07.6.2013 IS AGAINST THE ORDER OF THE CIT (A) - 20 , MUMBAI DATED 11.3.2013 FOR THE ASSESSMENT YEAR 2004 - 2005 . 3. IN THIS CASE, THE REVENUE IS AGGRIEVED WITH THE CIT (A)S DECISION IN CANCELLING THE PENALTY ON THE ADDITIONS ON ACCOUNT OF ADVANCES WRITTEN AMOUNTING TO RS. 7,15,209/ - AND PRIOR PERIOD EXPENSES AMOUNTING TO RS. 2,33,864/ - . IN THIS REGARD, AT THE OUTSET, LD COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE SINCE, THE TAX EFFECT INVOLVED IN THIS CASE IS BELOW RS. 10 LAKHS, THE CBDT CIRCULAR NO.21/2015 APPLIES TO THE PRESENT CASE. 3. AFTER HEARING THE LD REPRESENTATIVES OF BOTH THE PARTIES AND ON PERUSAL OF THE ORDERS OF THE REVENUE AUTHORITIES AS WELL AS THE RELEVANT MATERIAL PLACED BEFORE US, WE FIND, THE TA X EFFECT IN THIS CASE IS BELOW RS. 10 LAKHS. THEREFORE, THIS CASE IS COVERED BY THE CBDT CIRCULAR NO.21/2015, DATED 10.12.2015 WHICH IS RELEVANT FOR THE PROPOSITION THAT THE APPEALS FILED BY THE REVENUE WITH A TAX EFFECT OF RS. 10 LAKHS AND BELOW ARE TO B E EITHER DISMISSED BY THE TRIBUNAL AS NOT MAINTAINABLE OR 2 NOT PRESSED BY THE REVENUE. CONSIDERING THE SAME, THE PRESENT APPEAL FILED BY THE REVENUE IS REQUIRED TO BE DISMISSED SINCE, THE SAME IS NOT MAINTAINABLE. WE ORDER ACCORDINGLY. 4. IN THE RESULT, A PPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 09 TH NOVEMBER, 2016. SD/ - SD/ - ( C.N. PRASAD ) (D. KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; 09.11 .2016 . . ./ OKK , SR. PS / 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