ACIT 24(1), MUMBAI V. ANIL L SHAH, MUMBAI

ITA 4995/MUM/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 3805 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 10 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-05-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 31-03-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 02-07-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S R SINGH
• Assessee Lawyers: TORAL SHAH
• Keywords: Tax effect
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES A, MUMBAI BEFORE SHRI G.S.PANNU (AM) AND SHRI RAM LAL NEGI (J M) ITA NO. 4995/MUM/2013 ASSESSMENT YEAR: 2009-10 THE ACIT, 24(1) , C-13, ROOM NO. 503, PRATYAKSHKAR BHAVAN, BANDRA(E), MUMBAI-51 VS. SHRI. ANIL L. SHAH, 307, PREMSONS INDUSTRIAL ESTATE, TAHIRA COMPOUND, CAVES ROAD, JOGESHWARI (E) MUMBAI- 400060. PAN- AADPS7072F (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI. S.R.SINGH RESPONDENT BY : SHRI. TORAL SHAH DATE OF HEARING: 06/05/2016 DATE OF PRONOUNCEMENT: 06/05/2016 O R D E R PER RAM LAL NEGI, JM THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAI NST ORDER DATED 17/04/2013 PASSED BY THE LD CIT(A)-34, MUMBAI FOR THE ASSESSME NT YEAR 2009-10. 2. THE REVENUE HAS CHALLENGED THE IMPUGNED ORDER O N FOLLOWING GROUND:- 1. ON THE FACTS IN THE CIRCUMSTANCES OF THE CASE AN D IN LAW, THE LD. CIT(A) ERRED IN RESTRICTING THE ADDITION OF RS. 14,93,971 /- MADE BY THE AO U/S U/S 14A R.W.S. 8D ON THE EXEMPTED INCOME TO 2% OF T HE DISALLOWANCE WHEN THE RELIEF ALLOWED TO THE ASSESSEE WAS NOT IN CONFO RMITY WITH SECTION U/S 14A R.W.S. 8D. 2 ITA NO. 4995/MUM/2013 ASSESSMENT YEAR: 2009-10 3 AT THE OUTSET , THE LD. DR POINTED OUT THAT THE AMOUNT OF ADDITION IN DISPUTE IS ONLY RS. 14,93,971/- AND THE TAX EFFECT ON THIS AMOUNT IS BELOW THE SPECIFIED MONETARY LIMIT OF RS. 10 LAKHS. AS PER THE LATEST CBDT CIRCULAR NO. 21 OF 2015, DATED 10 TH DECEMBER, 2015, NEW GUIDELINES OF MONETARY LIMIT FOR FILING OF APPEALS BY THE DEPARTMENT HAS BEEN ISSUED, WHEREBY THE TAX EFFECT FOR FILING OF A PPEAL BEFORE THE ITAT HAS BEEN PRESCRIBED AT RS. 10 LAKHS. IT HAS BEEN SP ECIFICALLY CLARIFIED IN THE SAID INSTRUCTION WILL APPLY RETROSPECTIVELY TO ALL THE PENDING APPEALS. THE ISSUE INVOLVED IN THIS APPEAL DOES NOT FALL UND ER ANY OF THE EXCEPTIONS SPECIFIED UNDER PARA 8 OF THE SAID CIRCU LAR. ACCORDINGLY, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. W E, THEREFORE, DISMISS THE SAME IN LIMINE . ORDER PRONOUNCED IN THE OPEN COURT ON 6 TH MAY, 2016 SD/- SD/- ( G.S.PANNU ) (RAM LAL NEGI) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI; DATED: 06/05/2016 3 ITA NO. 4995/MUM/2013 ASSESSMENT YEAR: 2009-10 / 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 PRAMILA