ACIT 10(2)(1), MUMBAI V. JAYABHARAT CREDIT LTD, MUMBAI

ITA 4837/MUM/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 3428 (ITAT-MUMBAI)
• Duration Of Justice: 6 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-03-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2011-2012
• Appeal Filed On: 28-08-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M MURLIDR
• Keywords: Retrospective amendment; Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES J, MUMBAI , , , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER AND SHRI RAJENDRA, ACCOUNTANT MEMBER ITA NO.4837/MUM/2015 ASSESSMENT YEAR-2011-12 ACIT - 10(2)(1), MUMBAI ROOM NO.216-A AAYAKAR BHAVAN, M.K. ROAD, MUMBAI-400020 / VS. M/S JAYABHARAT CREDIT LIMITED, 22, RAJABAHDUR MANSION, 4 TH FLOOR, MUMBAI SAMACHAR MARG, FORT, MUMBAI-400023 PAN NO. AAACJ0926B ( / REVENUE) ( / ASSESSEE) / REVENUE BY SHRI M. MURLI-DR / ASSESSEE BY NONE / DATE OF HEARING : 21/03/2016 / DATE OF ORDER: 21/03/2016 ITA NO.4837/MUM/2015 M/S JAYABHARAT CREDIT LIMITED 2 / O R D E R PER JOGINDER SINGH (JUDICIAL MEMBER) THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DATED 10/06/2015 OF THE LD. FIRST APPELLATE AUTHORI TY, MUMBAI. 2. DURING HEARING OF THIS APPEAL, NONE WAS PRESEN T FOR THE ASSESSEE IN SPITE OF ISSUANCE OF REGISTERED AD NOTICE. IT SEEMS THAT THE ASSESSEE IS NOT INTERESTED TO REP RESENT THE APPEAL, THEREFORE, WE HAVE NO OPTION BUT TO PROCEED EX- PARTE QUA THE ASSESSEE. HOWEVER, AT THE OUTSET, IT WAS BROUGHT TO OUR NOTICE THAT THE TAX EFFECT IN THE PR ESENT APPEAL IS BELOW PRESCRIBED MONETARY LIMIT. THIS FAC TUAL MATRIX WAS NOT CONTROVERTED BY THE LD. DR, SHRI M. MURLI. 2.1. WE HAVE CONSIDERED THE SUBMISSIONS OF THE LD. DR AND PERUSED THE MATERIAL AVAILABLE ON RECORD. IT IS NOTED THAT THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW PRESCRIBED MONETARY LIMIT OF RS.10 LAKH FOR FILING THE APPEAL BEFORE THE TRIBUNAL. THE CBDT ISSUED INSTRUCTION NO.21 OF 2015, DATED 10/12/2015 (F NO.279/MISC./142/2007- IT(PT), APPLICABLE WITH RETROSPECTIVE EFFECT, WHERE IN, THE DEPARTMENT WAS ADVISED/DIRECTED BY THE BOARD NOT T O FILE APPEAL IN THE CASES WHERE THE TAX EFFECT DOES NOT E XCEED THE FOLLOWING MONETARY LIMIT.:- ITA NO.4837/MUM/2015 M/S JAYABHARAT CREDIT LIMITED 3 SINCE, THE TAX EFFECT IS BELOW PRESCRIBED MONETARY LIMIT, THE APPEAL OF THE REVENUE IS NOT MAINTAINABL E. FINALLY, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. THIS ORDER WAS PRONOUNCED IN THE OPEN IN THE PRESENCE OF LD. REPRESENTATIVES FROM BOTH SIDES AT THE CONCLUSION OF THE HEARING ON 21/03/2016. SD/- SD/- (RAJENDRA) (JOGINDER SINGH) '# / ACCOUNTANT MEMBER $# / JUDICIAL MEMBER MUMBAI; # DATED : 21/03/2016 F{X~{T? P.S/. . . %$&'()(*& / COPY OF THE ORDER FORWARDED TO : 1. %& '( / THE APPELLANT (RESPECTIVE ASSESSEE) 2. )*'( / THE RESPONDENT. 3. + + , ( %& ) / THE CIT, MUMBAI. 4. + + , / CIT(A)- , MUMBAI, 5. /01 )2 , + %& %23 , / DR, ITAT, MUMBAI 6. 14 5 / GUARD FILE. / BY ORDER, */& ) //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI SL. NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS.) 1. BEFORE ITAT 10,00,0 00/ - 2. U/S 260 A BEFORE HONBLE HIGH COURT 20,00,000/ - 3. BEFORE HONBLE SUPREME COURT 25,00,000/ -