DCIT CEN CIR 9, MUMBAI V. UNI DESIGN JEWELLERY P.LTD, MUMBAI

ITA 4769/MUM/2013

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 1815 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 5 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2003-2004
• Appeal Filed On: 20-06-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHRIDHAR E
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BEN CH F, BEORE SHRI N.K.BILLAIYA, ACCOUNTNT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA NO. 4769/MUM/2013 (ASSESSMENT YEAR : 2003-04) THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-9, ROOM NO.806, 8 TH FLOOR, OLD CGO ANNEX BLDG., M.K. ROAD, MUMBAI 400 020 .... APPELLANT VS. M/S. UNI DESIGN JEWELLERY PVT. LTD., PLOT NO.4,5 & 6 (PART) SEEPZ, ANDHERI (E), MUMBAI-400 093 PAN:AAACU0572G .... RESPONDENT REVENUE BY : SHRI SHRIDHAR E.(DR) ASSESSEE BY : SHRI ANUJ KISNADWALA DATE OF HEARING : 16/12/2015 DATE OF PRONOUNCEMENT : 16 /12/2015 ORDER PER PAWAN SINGH,JM: 1. THIS IS AN APPEAL FILED BY THE REVENUE DIRECTED AGA INST THE ORDER OF THE CIT(A)-18, MUMBAI DATED 03/04/2013. 2. THE ONLY GRIEVANCE OF THE REVENUE RELATES TO THE ALLOWING THE EXEMPTION BY CIT(A) UNDER SECTION 10 A AT RS. 38,32 0425 , AND RESTRICTING AT RS. 33,956,250/- WITHOUT APPRECIAT ING THE EFFECT THAT IN ORDER GIVING THE EFFECT TO ITAT ORDER IN ITA NO 315 /M/07 DATED 16.09. 2009 THE SAME WAS ACCEPTED BY THE ASSESSEE. 2 ITA NO. 4769/MUM/2013 (ASSESSMENT YEAR : 2003-04) 3. AT THE BEGINNING OF THE CASE IN HAND, LD. AR FOR ASSESSEE FILED THE CALCULATION OF THE TAX EFFECT BEFORE US AND AS PER CALCULATION THE TAX EFFECT IS ONLY OF RS.3,43,680/-, WHICH IS NOT DISP UTED BY LD. DR FOR REVENUE, WHICH IS ADMITTEDLY BELOW THE MONETARY LI MITS AS MENTIONED IN THE LATEST CIRCULAR OF CBDT DATED 10/12/2015. 4. BEFORE GOING INTO THE MERITS OF THE CASE, LET US FIRST CONSIDER CBDTS LATEST INSTRUCTIONS VIDE CIRCULAR NO.21/2015 DATED 10/12/2015, THE RELEVANT PORTION OF WHICH READ AS UNDER:- CIRCULAR NO. 21/2015 F NO 279/MISC. 142/2007-ITJ (PT) GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD DIRECT TAXES NEW DELHI THE 10TH DECEMBER, 2015 SUBJECT: REVISION OF MONETARY LIMITS FOR FILING O F APPEALS BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TRIBUNAL AND HIGH COURTS AND SLP BEFORE SUPREME COURT - MEASURES FOR REDUCING LITIGA TION - REG - REFERENCE IS INVITED TO BOARD'S INSTRUCTION NO 5/20 14 DATED 10.07.2014 WHEREIN MONETARY LIMITS AND OTHER CONDITIONS FOR FI LING DEPARTMENTAL APPEALS (IN INCOME-TAX MATTERS) BEFORE APPELLATE TRIBUNAL AND H IGH COURTS AND SLP BEFORE THE SUPREME COURT WERE SPECIFIED. 2. IN SUPERSESSION OF THE ABOVE INSTRUCTION, IT HA S BEEN DECIDED BY THE BOARD THAT DEPARTMENTAL APPEALS MAY BE FILED ON MERITS BE FORE APPELLATE TRIBUNAL AND HIGH COURTS AND SLP BEFORE THE SUPREME COURT KEEPIN G IN VIEW THE MONETARY LIMITS AND CONDITIONS SPECIFIED BELOW. 3. HENCEFORTH, APPEALS/ SLPS SHALL NOT BE FILED IN CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE MONETARY LIMITS GIVEN HEREUNDER : - 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/ - 3 ITA NO. 4769/MUM/2013 (ASSESSMENT YEAR : 2003-04) IT IS CLARIFIED THAT AN APPEAL SHOULD NOT BE FILED MERELY BECAUSE THE TAX EFFECT IN A CASE EXCEEDS THE MONETARY LIMITS PRESCRIBED ABOVE. FILING OF APPEAL IN SUCH CASES IS TO BE DECIDED ON MERITS OF THE CASE. 5. CONSIDERING THE CIRCULAR OF CBDT DATED 10/12/20 15, THIS APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 1 6 TH DECEMBER, 2015. SD- SD- (N.K.BILLAIYA) (PAWAN SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED 16 /12/2015 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 SK , PS