DEPUTY COMMISSIONER OF INCOME TAX-5(3)(2), MUMBAI V. TERRACO INDIA PRIVATE LIMITED, MUMBAI

ITA 4654/MUM/2017

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 0409 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 2 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-09-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2012-2013
• Appeal Filed On: 29-06-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL E , BENCH MUMBAI B EFORE SHRI M.BALAGANESH, AM & SHRI RAVISH SOOD , JM ITA NO. 4654 /MUM/ 2017 ( ASSESSMENT YEAR : 2012 - 13 ) DCIT - 5(3)(2) R.NO.573, 5 TH FLOOR AAYAKAR BHAVAN M.K.ROAD, MUMBAI 400 020 VS. M/S. TERRA CO INDIA PVT. LTD. 10 TH FLOOR, ADVANI CHAMBERS KEMPS CORNER MUMBAI 400 036 PAN/GIR NO. AAACT0109Q (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI RITESH MISHRA ASSESSEE B Y SHRI JEET KAMDER DATE OF HEARING 0 9 / 09 /2019 DATE OF PRONOUNCEMENT 09 / 09 /2019 / O R D E R PER M. BALAGANESH (A.M) : THIS APPEAL IN ITA NO. 4654/MUM/2017 FOR A.Y . 2012 - 13 ARISE S OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 10 , MUMBAI IN APPEAL NO. CIT(A) - 10/DCIT - 5(3)(2)/89/2015 - 16 DATED 31/03/2017 (LD. CIT(A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S. 143(3) (II) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 27/03/2015 BY THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 5(3)(2), MUMBAI (HEREINAFTER REFERRED TO AS LD. AO). ITA NO. 4654/MU M/2017 M/S. TERRACO INDIA P VT . LTD. 2 2. BOTH THE PARTIES BEFORE US MUTUALLY AGREED THAT TH IS REVENUE APPEAL IS TO BE DISMISSED AS NOT MAINTAINABLE IN VIEW OF THE RECENT CIRCULAR ISSUED BY THE CBDT DATED 08/08/2019 WHEREIN THE REVENUE HAS BEEN DIRECTED TO WITHDRAW THE APPEAL PREFERRED BY IT BEFORE THE TRIBUNAL IF THE TAX EFFECT ON THE DISPUTED ISSUES IS LESS THAN OR EQUAL TO RS.50,00,000/ - . IT IS WELL SETTLED THAT THIS CIRCULAR IS BINDING ON THE REVENUE AUTHORITIES. 3. RESPECTFULLY FOLLOWIN G THE SAID CIRCULAR, THE APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. 4. INCASE, IF THE REVENUE IS ABLE TO PROVIDE EVIDENCE THAT THE CASE FALLS UNDER ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCULAR ISSUED BY THE CBDT, THEN THE REVENUE MAY PREFER MISCELLANEOUS APPLICATION FOR RECALLING OF THI S ORDER, IF THEY SO DESIRE, IN WHICH CIRCUMSTANCE THIS ORDER SHALL BE RECALLED BY THIS TRIBUNAL. 5 . IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 0 9 / 09 /201 9 SD/ - ( RA VISH SOOD ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 0 9 / 09 / 2019 KARUNA , SR.PS ITA NO. 4654/MU M/2017 M/S. TERRACO INDIA P VT . LTD. 3 COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITA T, MUMBAI 6. GUARD FILE. //TRUE COPY//