ACIT 1(1)(1), MUMBAI V. BOMBAY GAS COMPANY LTD, MUMBAI

ITA 4617/MUM/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 5832 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2003-2004
• Appeal Filed On: 04-07-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: OMI C NINGSHEN
• Assessee Lawyers: MANISH V SHAH; NIYANTA MEHTA
• Keywords: Tax effect

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN (AM) & SHRI RAMLAL NEGI (JM) I.T.A. NO. 4617 /MUM/ 201 6 (ASSESSMENT YEAR 20 03 - 04 ) ACIT 1(1)(1) 579, AAYAKAR BHAVAN M.K. ROAD MUMBAI - 400 020. V S . M/S. BOMBAY GAS CO. LTD. EMP IRE HOUSE, A.K. NAYAK MARG, FORT MUMBAI - 400 001. PAN : AAACB5863D ( APPELLANT ) ( RESPONDENT ) ASSESSEE BY SHRI MANISH V. SHAH & MS. NIYANTA MEHTA DEPARTMENT BY SHRI OMI C. NINGSHEN DATE OF HEARING 1 7 . 7 . 201 8 DATE OF PRONOUNCEMENT 17 . 7 . 201 8 O R D E R PER B.R. BASKARAN (AM) : THE REVENUE HAS FILED THIS APPEAL CHALLENGING THE ORDER DATED 18 - 04 - 2016 PASSED BY LD CIT(A) - 2, MUMBAI AND IT RELATES TO THE ASSESSMENT YEAR 2003 - 04. THE REVENUE IS AGGRIEVED BY THE DECISION OF LD CIT(A) IN DELETING INTEREST DISALLOWANCE OF RS.52.03 LAKHS MADE U/S 36(1)(III) OF THE ACT. 2. AT THE TIME OF HEARING, WE NOTICED THAT THE QUANTUM IN DISPUTE IS RS.52.03 LAKHS AND HENCE THE TAX EFFECT INVOLVED THEREIN IS LESS THAN RS.20.00 LAKHS. THE CBDT HAS ISSUED A N EW CIRCULAR NO.3/2018 DATED 11.07.2018 IN SUPERSESSION OF ITS EARLIER CIRCULAR NO.21/2015 DATED 10.12.2015. ACCORDING TO THE CIRCULAR NO.3/2018, THE REVENUE IS PRECLUDED FROM PURSUING ITS APPEAL IF THE TAX EFFECT IS RS.20.00 LAKHS OR LESS. APPARENTLY THE ISSUE IN DISPUTE DOES NOT FALL IN ANY OF THE EXCEPTIONS PROVIDED IN PARAGRAPH 10 OF THE CIRCULAR NO.3/2018, REFERRED ABOVE. THE LD D.R, HOWEVER, SOUGHT TIME TO GET A CERTIFICATE FROM THE PCIT/CIT CONCERNED THAT THE GROUNDS URGED IN THIS APPEAL DOES NOT FA LL UNDER ANY OF THE EXCEPTIONS SPECIFIED IN THE SAID CIRCULAR. M/S. BOMBAY GAS C O. LTD. 2 HOWEVER, FROM THE AVAILABLE MATERIAL, HE COULD NOT POINT OUT THAT THE ISSUE CONTESTED IN THIS APPEAL FALL IN ANY OF THE EXCEPTIONS. 3. WE HAVE NOTICED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS.20.00 LAKHS AND THE ISSUE CONTESTED HEREIN ALSO APPARENTLY DOES NOT FALL IN ANY OF THE EXCEPTIONS SPECIFIED IN THE CIRCULAR. ACCORDINGLY WE DISMISS THE APPEAL OF THE REVENUE IN LIMINE. HOWEVER, THE REVENUE IS GIVEN LIBERTY TO MOVE MI SCELLANEOUS APPLICATION SEEKING RECALL OF THIS ORDER, IF IT IS FOUND THAT THE ISSUE CONTESTED IN THIS APPEAL FALLS IN ANY OF THE EXCEPTION PROVIDED IN PARAGRAPH 10 OF THE CIRCULAR. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER HAS BE EN PRONOUNCED IN THE COURT ON 17 . 7 . 201 8 . SD/ - SD/ - (RAMLAL NEGI) (B.R.BASKARAN) J U DICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 17 /7 / 20 1 8 COPY OF THE ORDE R 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// ( SENIOR P RIVATE S ECRETARY ) PS ITAT, MUMBAI