ACIT 2(1) CITY-2, MUMBAI V. GODAVARI SUGAR MILLS LTD, MUMBAI

ITA 5362/MUM/2011

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 5475 (ITAT-MUMBAI)
• Duration Of Justice: 9 year(s) 2 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-09-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 28-11-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 15-07-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V VINODKUMAR SHRI ANAND MOHAN
• Keywords: Tax effect
• Section: 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL VIRTUAL COURT G , BENCH MUMBAI BEFORE SHRI JUSTICE P P BHATT, PRESIDENT & SHRI M. BALAGANESH, AM ITA NO. 5362/MUM/2011 ( ASSESSMENT YEAR : 2007 - 08 ) ITA NO. 5363 /MUM/201 1 ( ASSESSMENT YEAR : 200 7 - 0 8 ) ACIT - 2(1), MUMBAI R. NO.561, 5 TH FLOOR AAYAKAR BHAVAN M.K.ROAD, MUMBAI 400 020 VS. M/S. SOMAIYA PROPERTIES & INV. PVT. LTD., FORMERLY M/S. GODAWARI SUGAR MILLS LTD., FAZALBHOY BUILDING 45 - 47, M.G.ROAD, MUMBAI 400 001 PAN/GIR NO. AAACT5004A (AP PELLANT ) .. (RESPONDENT ) REVENUE BY SHRI V. VINODKUMAR / SHRI ANAND MOHAN ASSESSEE BY MS.DINKLE HARIYA DATE OF HEARING 28 / 09 /2020 DATE OF PRONOUNCEMENT 28 / 09 /2020 / O R D E R PER M.BALAGANESH, AM : TH ESE APPEAL S IN ITA NO.5362 /MUM/2011 & 5363/MUM/2011 FOR A.Y. 2007 - 08 ARISE OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 4 , MUMBAI IN APPEAL NO. CIT(A) - 4/IT - 34/ AC.2(1)/2010 - 11 RESPECTIVELY DATED 31/05/2011 (LD. CIT(A) IN SHORT) AGAINST THE ORDER OF ITA NO . 5362/MUM/2011 & 5362/MUM/2011 M/S. SOMAIYA PROPERTIES & INV. PVT. LTD., FORMERLY M/S. GODAWARI SUGAR MILLS LTD 2 ASSESSMENT PASS ED U/S. 154 OF THE INCOME TAX ACT, 1961 (HEREINA FTER REFERRED TO AS ACT) DATED 31/12/2009 BY THE ASST. COMMISSIONER OF INCOME TAX (OSD) - 2(1), MUMBAI (HEREINAFTER REFERRED TO AS LD. AO). 2. BOTH THE PARTIES BE FORE US MUTUALLY AGREED THAT THESE REVENUE APPEA L S ARE TO BE DISMISSED AS NOT MAINTAINABLE IN VIEW OF THE RECENT CIRCULAR ISSUED BY THE CBDT DATED 08/08/2019 WHEREIN THE REVENUE HAS BEEN DIRECTED TO WITHDRAW THE APPEAL PREFERRED BY IT BEFORE THE TRIBUNAL IF THE TAX EFFECT ON THE DISPUTED ISSUES IS LESS THAN OR EQUAL TO RS.50,00,000/ - . IT IS WELL SETTLED THAT THIS CIRCULAR IS BINDING ON THE REVENUE AUTHORITIES. 3. RESPECTFULLY FOLLOWING THE SAID CIRCULAR, THE APPEALS FILED BY THE REVENUE ARE DISMISSED AS NOT MAINTAINABLE. 4. INCASE, IF THE REVENUE IS ABL E TO PROVIDE EVIDENCE THAT THE CASE FALLS UNDER ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCULAR ISSUED BY THE CBDT, THEN THE REVENUE MAY PREFER MISCELLANEOUS APPLICATION FOR RECALLING OF THIS ORDER, IF THEY SO DESIRE, IN WHICH CIRCUMSTANCE THIS ORDER SHALL BE RECALLED BY THIS TRIBUNAL. 5. IN THE RESULT, APPEALS FILED BY THE REVENUE ARE DISMISSED AS NOT MAINTAINABLE. ORDER PRONOUNCED IN OPEN COURT ON 28 /09/2020 . SD/ - ( JUSTICE P P B HATT ) SD/ - (M.BALAGANESH) P RESIDENT ACCOUNTANT MEMBER MUMBAI ; DATED 28 / 09 / 2020 ITA NO . 5362/MUM/2011 & 5362/MUM/2011 M/S. SOMAIYA PROPERTIES & INV. PVT. LTD., FORMERLY M/S. GODAWARI SUGAR MILLS LTD 3 KARUNA , SR.PS COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//