ITO (IT) 2(1), MUMBAI V. ASHUTOSH MOHANLAL SHAH, MUMBAI

ITA 5425/MUM/2013

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 2008 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 4 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 15-12-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 08-08-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VINITA J MENON
• Keywords: Tax effect
• Section: 154

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES A, MUMBAI , , , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ITA NO.5425/MUM/2013 ASSESSMENT YEAR: 2008-09 INCOME TAX OFFICER (INTERNATIONAL TAXATION)- 2(1), R. NO.14, GROUND FLOOR, SCINDIA HOUSE, BALLAR ESTATE, MUMBAI-400038 / VS. SHRI ASHUTOSH MOHANLAL SHAH, C/O-SHRIYA SHAH VASHIST, 301, NEEL SAGAR, BANDRA RECLAMATION, NEAR LILAVATI HOSPITAL, MUMBAI-400050 ( / REVENUE) ( !'# /ASSESSEE) PAN. NO. AMNPS9232P $ % & ' / DATE OF HEARING : 15/12/2015 & ' / DATE OF ORDER: 15/12/2015 ! / REVENUE BY MS. VINITA J. MENON !'# ! / ASSESSEE BY SHRI MEHUL SHAH SHRI ASHUTOSH MOHANLAL SHAH ITA NO.5425/MUM/2013 2 / O R D E R PER JOGINDER SINGH (JUDICIAL MEMBER) THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DATE D 23/05/2013 OF THE LD. FIRST APPELLATE AUTHORITY, MU MBAI, ON THE GROUND IN HOLDING THAT THE TAX CREDIT CLAIMED B Y THE ASSESSEE U/S 154 OF THE INCOME TAX ACT, 1961 (HEREI NAFTER THE ACT) CANNOT BE DENIED MERELY FOR THE REASON TH AT THE ASSESSEE HAS CLAIMED THE CREDIT UNDER WRONG HAND OF PAYMENT IGNORING CERTAIN FACTS AS HAS BEEN MENTIONE D IN THE GROUNDS OF APPEAL. 2. AT THE OUTSET, THE LD. COUNSEL FOR THE ASSESSEE SHRI MEHUL SHAH, CONTENDED THAT THE APPEAL OF THE REVENU E IS NOT MAINTAINABLE AS THE TAX EFFECT IS BELOW PRESCRIBED MONETARY LIMIT. THIS FACTUAL MATRIX WAS NOT CONTROVERTED BY MS. VINITA J. MENON, LD. DR. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. WE NOTE T HAT THE TOTAL INCOME COMPUTED BY THE ASSESSING OFFICER IS RS.13,79,680/-, THEREFORE, THE TAX EFFECT IN THE PR ESENT APPEAL IS BELOW PRESCRIBED MONETARY LIMIT. THIS FACTUAL MA TRIX WAS CONSENTED TO BE CORRECT BY LD. DR, THEREFORE, THE A PPEAL OF THE REVENUE IS NOT MAINTAINABLE. 2.2. IN VIEW OF THE FACT THAT THE TAX EFFECT IN T HE APPEAL IS BELOW PRESCRIBED MONETARY LIMIT AS CONTAINED IN CBD T SHRI ASHUTOSH MOHANLAL SHAH ITA NO.5425/MUM/2013 3 INSTRUCTION NO.3/2011 DATED 09/02/2011, FURTHER INS TRUCTION NO.5/2014 (F NO.279/MISC./142/2007-IT(PT) DATED 10/07/2014. THE CBDT REVISED THE MONETARY LIMIT FOR FILING THE APPEAL BEFORE VARIOUS AUTHORITIES/COURTS VIDE C BDT CIRCULAR NO.21 OF 2015, DATED 10/12/2015 (F NO.279/MISC./142/2007-IT(PT), WITH RETROSPECTIVE EF FECT, ADVISED/DIRECTED THE DEPARTMENT NOT TO FILE APPEAL IN THE CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE FOLLOWING MONETARY LIMITS. THE REVISED MONETARY LIMIT IS AS UNDER:- SL. NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS.) 1. BEFORE APPELLATE TRIBUNAL 10 ,00,000/ - 2. U/S 260 A BEFORE HIGH COURT 2 0,00,000/ - 3. BEFORE SUPREME COURT 25,00,000/ - AS PER THE AFORESAID INSTRUCTION/REVISED MONETARY L IMIT, THE DEPARTMENT IS NOT TO FILE APPEAL BEFORE THE TRI BUNAL, WHEREIN THE TAX EFFECT IS LESS THAN RS.10,00,000/-, CONSEQUENTLY, THE APPEAL OF THE REVENUE IS NOT MAIN TAINABLE. THEREFORE, IN VIEW OF THE ABOVE, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. FINALLY, THE APPEAL OF THE REVENUE IS DISMISSED. SHRI ASHUTOSH MOHANLAL SHAH ITA NO.5425/MUM/2013 4 THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN TH E PRESENCE OF THE LD. REPRESENTATIVE FROM BOTH SIDES AT THE CONCLUSION OF THE HEARING ON 15/12/2015 SD/- SD/- ( RAMIT KOCHAR ) (JOGINDER SINGH) '!# / ACCOUNTANT MEMBER $!# /JUDICIAL MEMBER $ % MUMBAI; ) DATED : 15/12/2015 F{X~{T? P.S/. . . %$&'()(*& / COPY OF THE ORDER FORWARDED TO : 1. +,-. / THE APPELLANT 2. /0-. / THE RESPONDENT. 3. 1 1 $ 2 ( +, ) / THE CIT, MUMBAI. 4. 1 1 $ 2 / CIT(A)- , MUMBAI 5. 45 / ! , 1 +,' +! 6 , $ % / DR, ITAT, MUMBAI 6. 7' 8% / GUARD FILE. ! / BY ORDER, 04, / //TRUE COPY// /! (DY./ASSTT. REGISTRAR) , $ % / ITAT, MUMBAI