ASST CIT CIR 3, KALYAN V. PRABHAT TRADE LINK, KALYAN

ITA 4571/MUM/2015

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 1137 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 8 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-04-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2011-2012
• Appeal Filed On: 06-08-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJAT MITTALDR
• Assessee Lawyers: SUBODH RATNAPARKHI
• Keywords: Retrospective amendment; Tax effect

Judgement Text

C IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ./ I.T.A. NO. 4571 /MUM/2015 ( / ASSESSMENT YEAR : 2011-12) THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3 2 ND FLOOR, RANI MANSION MURBAD ROAD, KALYAN(W)- 421301 DISTRICT THANE / V. PRABHAT TRADE LINK 01, NAYANKAMAL APARTMENT BAZAR PETH, OPP. MAHILA MANDAL, KALYA(W)-421301 ./ PAN : AABFS9025B ( / APPELLANT ) .. ( / RESPONDENT ) REVENUE BY MR. RAJAT MITTAL,DR ASSESSEE BY : SH. SUBODH RATNAPARKHI / DATE OF HEARING : 25-04-2017 / DATE OF PRONOUNCEMENT : 25-04-2017 / O R D E R PER RAMIT KOCHAR,ACCOUNTANT MEMBER : THIS APPEAL FILED BY THE REVENUE IS DISPOSED OF BEC AUSE THE TAX EFFECT IN THE APPEAL IS LESS THAN RS. 10 LACS AS PER THE CBDT CIRCULAR NO. 21/2015, F. NO. 279/MISC.142/2007-ITJ (PT) DATED 10 TH DECEMBER, 2015 ISSUED BY CENTRAL BOARD OF DIRECT TAXES, DEPARTMENT OF REVENUE, MINIS TRY OF FINANCE, GOVERNMENT OF INDIA. 2. THE LD. D.R. SUBMITTED THAT TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS. 10 LACS AND THE CBDT CIRCULAR NO. 21/2015 IS APPLICABLE TO THIS APPEAL AND THE REVENUE APPEAL IS NOT MAINTAINABLE/N OT PRESSED IN TERMS OF CBDT CIRCULAR NO 21/2015 DATED 10/12/2015. THE LD. DR SUBMITTED THAT AS PER THE LATEST CBDT CIRCULAR NO. 21/2015, F. NO. 27 9/MISC.142/2007-ITJ (PT) ITA 4571/MUM/2015 2 DATED 10 TH DECEMBER, 2015 ISSUED BY CENTRAL BOARD OF DIRECT T AXES, DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, GOVERNM ENT OF INDIA, NO APPEAL SHALL BE FILED BY THE REVENUE IN RESPECT OF AN ASSE SSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MONETARY LIMI T SPECIFIED IN PARA 3 OF THE CIRCULAR . PARA 3 OF THE CIRCULAR NO. 21/2015 S NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS) 1 BEFORE APPELLATE TRIBUNAL 10,00,000/- 2 BEFORE HIGH COURT 20,00,000/- 3 BEFORE SUPREME COURT 25,00,000/- IN THE SAID CIRCULAR VIDE PARA 10, IT IS STIPULATE D THAT THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEAL S TO BE FILED HENCEFORTH IN HIGH COURTS/TRIBUNALS. PENDING APPEALS BELOW THE S PECIFIED TAX LIMITS IN MAY BE WITHDRAWN/NOT PRESSED. THE LEARNED AR ALSO STATE D BEFORE US THAT THE TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN RS.10 LAC S. 3. KEEPING IN VIEW THE CBDT CIRCULAR NO. 21/2015 DA TED 10 TH DECEMBER, 2015 WHICH IS APPLICABLE FROM RETROSPECTIVE EFFECT AND IS ALSO APPLICABLE TO PENDING APPEALS AND ALSO IN VIEW OF LD. DR STATING BEFORE US THAT THIS APPEAL IS NOW NOT MAINTAINABLE/NOT PRESSED IN VIEW OF THE ABOVE CBDT CIRCULAR, WE HOLD THAT THIS APPEAL FILED BY THE REVENUE WHICH IS COVERED BY THIS ORDER INVOLVING TAX EFFECT LESS THAN RS. 10 LACS IS NOT M AINTAINABLE AND IS DISMISSED BEING NOT PRESSED. HOWEVER, THE REVENUE IS AT LIBER TY TO FILE AN APPLICATION FOR RECALL OF THIS APPEAL IN ACCORDANCE WITH LAW, IF TH E REVENUE WANTS TO AGITATE THE MATTER IN ACCORDANCE WITH THE PROVISIONS/CLAUSE S AS CONTAINED IN THE AFORE-STATED CIRCULAR. WE ORDER ACCORDINGLY. ITA 4571/MUM/2015 3 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 25 TH APRIL 2017. # $% &' 25-04-2017 ( ) SD/- SD/- (JOGINDER SINGH) (RAMIT KOCHAR) JUDICIAL MEMBER ACCOUNTANT MEMBER $ MUMBAI ; & DATED 25-04-2017 [ !'#$%&%# / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. 9 ( ) / THE CIT(A)- CONCERNED, MUMBAI 4. 9 / CIT- CONCERNED, MUMBAI 5. <=( >>?@ , ?@ , $ / DR, ITAT, MUMBAI C BENCH 6. (BC D / GUARD FILE. / BY ORDER, < > //TRUE COPY// / ( DY./ASSTT. REGISTRAR) , $ / ITAT, MUMBAI