ITO, Ward-2(4), Kalyan V. M/s. S.K.Ventures, MUMBAI

ITA 5079/MUM/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 3516 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2015-2016
• Appeal Filed On: 02-08-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SANJAY J SETHI
• Keywords: Tax effect
• Section: 22; 20

Judgement Text

3 ITA 5079 /M/201 9 IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) I.T.A. NO. 5079 /MUM/201 9 (ASSESSMENT YEAR 20 15 - 1 6 ) ITO,WD. 2 ( 4 ), KALYAN VS M/S S .K. VENTURES 1, GROUND FLOOR, BLOCK NO.A - 25/145 MADHUBAN HOTEL ROAD, ULHASNAGAR PAN : AA DAS2607K APPELLANT RESPONDENT A PPELLANT BY SHRI SANJAY J SETHI, DR RE SPONDENT BY NONE DATE OF HEARING 22 - 02 - 2021 DATE OF PRONOUNCEMENT 05 - 0 3 - 2021 O R D E R PER SAKTIJIT DEY (JM) - THIS IS AN APPEAL BY THE REVENUE AGAINST ORDER DATED 24 - 05 - 2019 OF LEARNED COMMISSIONER OF INCOME - TAX (APPEALS) - 3, MUMBAI FOR THE ASSESSMENT YEAR 2015 - 16. 3 ITA 5079 /M/201 9 2. WHEN THE APPEAL WAS CALLED FOR HEARING, NO ONE WAS PRESENT ON BEHALF OF THE ASSESSEE. HOWEVER, C ONSIDERING THE NATURE OF DISPUTE, WE PROCEED TO DISPOSE OF THE APPEAL EX PARTE QUA THE ASSESSEE, AFTER HEARING THE LEARNED D EPARTMENTAL R EPRESENTATIVE AND ON THE BASIS OF MATERIALS ON RECORD. 3. THE SHORT ISSUE IN DISPUTE IN THE PRESENT APPEAL IS , WHETHER THE TAX PAYABLE BY THE ASSESSEE CAN BE COMPUTED U NDER SECTION 115JC OF THE ACT? 4. WE HAVE HEARD THE LEARNED D EPARTMENTAL R EPRESENTATIVE AND PERUS ED THE MATERIALS ON RECORD. THE LEARNED DEPARTMENTAL REPRESENTATIVE HAS VERY FAIRLY SUBMITTED BEFORE US THAT LEARNED COMMISSIONER (APPEALS) HAS DECIDED THE ISSUE IN FAVOUR OF THE ASSESSEE BY FOLLOWING THE DECISION OF THE TRIBUNAL IN ASSESSEES OWN CASE FOR ASSESSMENT YEAR 2013 - 14. ON A PERUSAL OF THE IMPUGNED ORDER OF LEARNED COMMISSIONER (APPEALS), WE F IND THAT THE TRIBUNAL, IN ASSESSEES OWN CASE FOR A SSESSMENT YEAR 2013 - 14, VIDE ITA NO.1248/MUM/2018 DATED 05 - 03 - 2019 HAS HELD THAT SINCE ASSESSEES HOUSING PROJECT HAS BEEN APPROVED PRIOR TO INTRODUCTION OF SECTION 115JC OF THE ACT , THE PROVISION WOULD NO T APPLY . THUS, THE ISSUE IS SQUARELY COVERED IN FAVOUR OF THE ASSESSEE BY THE AFORESAID DECISION OF THE CO - ORDINATE B ENCH. THEREFORE, WE DO NOT FIND ANY INFIRMITY IN THE ORDER OF LEARNED COMMISSIONER (APPEALS). 5. HAVING HELD SO, WE MAY ALSO OBSERVE THA T AS PER COLUMN 10 OF THE MEMORANDUM OF APPEAL IN FORM NO.36 FILED BY THE REVENUE, THE TAX EFFECT ON THE AMOUNT DISPUTED BY THE REVENUE IS SHOWN AS RS.21,94,593/ - . THUS, PRIMA FACIE, THIS APPEAL OF THE REVENUE WOULD BE COVERED UNDER CIRCULAR NO. 17 / 2019 DA TED 3 ITA 5079 /M/201 9 8TH AUGUST 2019 , WHEREIN , THE MONETARY LIMIT FOR FILING APPEAL BEFORE THE TRIBUNAL HAS BEEN ENHANCED TO RS.50 LAKHS. THEREFORE, THE PRESENT APPEAL OF THE REVENUE, OTHERWISE , IS ALSO NOT MAINTAINABLE. ACCORDINGLY, APPEAL IS DISMISSED. 6. IN THE RESULT , APPEAL IS DISMISSED. ORDER PRONOUNCED ON 05 / 0 3 /2021. S D/ - SD/ - (N.K. PRADHAN) (SAKTIJIT DEY) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DT : 05 /0 3 /2021 PAVANAN COPY TO : 1. APPELLANT 2. RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A) 5. THE DR, ITAT, MUMBAI 6. GUARD FILE /TRUE COPY/ BY ORDER ASSTT. REGISTRAR, ITAT, MUMBAI