ITO WD 22(3)4, NAVI MUMBAI V. VAIBHAV D WARKAR, NAVI MUMBAI

ITA 4957/MUM/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 3919 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 7 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Next Hearing Date: 25-08-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 28-06-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIKAS K AGARWAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL F BENCH, MUM BAI BEFORE SHRI JASON P. BOAZ, AM AND SHRI SANDEEP GOSA IN, JM ./ I.T.A. NO.4957/MUM/2013 ( / ASSESSMENT YEAR:2007-08) ITO, WD-22(3)-4, VASHI RLY. STATION COMPLEX, TOWER NO.6, 3 RD FLOOR, VASHI, NAVI MUMBAI. / VS. SHRI VAIBHAV D. WAREKAR, 1, MIDLAND CHS, SECTOR-9A, VASHI, NAVI MUMBAI-400 703. ./ ./PAN/GIR NO. AALPW 3682P ( /APPELLANT ) : ( / RESPONDENT ) / APPELLANT BY : SHRI VIKAS K. AGARWAL / RESPONDENT BY : SHRI PRAKASH PANDIT / DATE OF HEARING : 22/02/2016 !'# / DATE OF PRONOUNCEMENT : 22/02/2016 $% / O R D E R PER SANDEEP GOSAIN, J. M.: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 01.04.2013 OF COMMISSIONER OF INCOME TAX (APPEALS)-19, MUMBAI (HE REINAFTER CALLED AS THE CIT(A) ) FOR ASSESSMENT YEAR 2007-08. 2 ITA NO.4957/MUM/2013 ITO VS VAIBHAV DWAREKAR 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, AND LA W THE LD. CIT(A) ERRED IN DELEING THE ADDITION MADE BY THE AO OF RS.16,95, 361/- HOLDING THAT THE ADDITION MADE IS UNWARRANTED. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, LD. CIT (A) FAILED TO APPRECIATE THE FACTS OF THE CASE AND THE OBJECTIVE BEHIND THE ADDITION MADE BY THE AO BY INVOKING THE PROVISIONS OF SECTION 145(3) OF THE IT ACT, 1961. 3. THE APPELLANT PRAYS THAT THE ORDER OF LD. CIT(A) ON THE ABOVE GROUNDS BE REVERSED AND THAT OF THE ASSESSING OFFICER BE RESTO RED. 2. AT THE OUTSET THE LD. AR OF THE ASSESSEE POINTED OUT THAT THE TAX EFFECT IN THIS APPEAL IS BELOW RS.10.00 LAKHS AND FURTHER SUBMITTE D THAT IN VIEW OF THE CBDT CIRCULAR NO.21/2015, DATED 10.12.2015 BROUGHT OUT BY THE CENTRAL BOARD OF DIRECT TAXES, DEPARTMENT OF REVENUE, MINISTRY OF FI NANCE , GOVERNMENT OF INDIA, THE APPEAL WAS NOT MAINTAINABLE AND BE DISMISSED. T HE LD. DR ALSO AGREED TO THE SUBMISSION OF THE LD. AR. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. WE FIND FROM THE RECORDS BEFORE US THAT THE TAX INV OLVED IN THE DISPUTED ISSUE IS BELOW RS.10 LACS AND THEREFORE, IN VIEW OF THE CIRC ULAR NO 21/2015 DATED 10 TH DECEMBER, 2015 NO APPEALS SHOULD BE FILED BY THE RE VENUE BEFORE THE TRIBUNAL 3 ITA NO.4957/MUM/2013 ITO VS VAIBHAV DWAREKAR WHICH HAS TAX EFFECT OF RS. 10.00 LACS OR LESS AND THIS CIRCULAR IS ALSO APPLICABLE RETROSPECTIVELY TO ALL PENDING APPEALS. THE RELEVAN T EXTRACT THE SAID CBDT CIRCULAR (SUPRA) IS AS UNDER:- THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PEN DING APPEALS AND APPEALS TO BE FILED HENCEFORTH IN HIGH COURTS/TRIBUNALS. PENDI NG APPEALS BELOW THE SPECIFIED TAX LIMITS IN PARA 3 ABOVE MAY BE WITHDRA WN/NOT PRESSED. APPEALS BEFORE THE SUPREME COURT WILL BE GOVERNED BY THE IN STRUCTIONS ON THIS SUBJECT, OPERATIVE AT THE TIME WHEN SUCH APPEAL WAS FILED. 4. CONSIDERING THE ABOVE, THE APPEAL FILED BY THE R EVENUE, IS THEREFORE DISMISSED. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND FEBRUARY, 2016 SD/- SD/- (JASON P. BOAZ) (SANDEEP GOSAIN) $ / ACCOUNTANT MEMBER &' $ / JUDICIAL MEMBER ( ) MUMBAI; *$ DATED : 22.02.2016 PS. ASHWINI 4 ITA NO.4957/MUM/2013 ITO VS VAIBHAV DWAREKAR / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. + ( ) / THE CIT(A) 4. + / CIT - CONCERNED 5. ./0 ''12 , 12# , ( ) / DR, ITAT, MUMBAI 6. 045 6 / GUARD FILE / BY ORDER, / !'# (DY./ASSTT. REGISTRAR) #$ %, ( ) / ITAT, MUMBAI.