I.T.O. 25(1)(1), MUMBAI V. KAUSHIK KRISHNARAJ BHAGTA, MUMBAI

ITA 5467/MUM/2012

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 2021 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 3 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 18-11-2014
• Assessment Year: 2009-2010
• Appeal Filed On: 30-08-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Retrospective amendment; Tax effect

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES A, MUMBAI , , , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, AND SHRI RAM IT KOCHAR, ACCOUNTANT MEMBER ITA NO.5467 /MUM/2012 ASSESSMENT YEAR: 2009-10 ITO-25(1)(1), ROOM NO.201, 2 ND FLOOR, C-11, PRATYAKSHAKAR BHAVAN, BANDRA KURAL COMPLEX, BANDRA(E), MUMBAI-400051 / VS. SHRI KAUSHIK KRISHNARAJ BHAGTA, 101/102, GREENHEIGHTS, WAMANRAO BHOIR ROAD, KANDARPADA, DAHISAR (WEST), MUMBAI-400068 ( / REVENUE) ( !'# /ASSESSEE) PAN. NO. AAIPB7266P $ % & ' / DAT E OF HEARING : 17/12/2015 & ' / DATE OF ORDER: 17/12/2015 / O R D E R PER JOGINDER SINGH (JUDICIAL MEMBER) THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DATED 29/06/2012 OF THE LD. FIRST APPELLATE AUTHORI TY, MUMBAI, ON THE GROUNDS AS STATED THEREIN. ! / REVENUE BY MS. VINITA MENON !'# ! / ASSESSEE BY SHRI ANIL THAKRAR SHRI KAUSHIK KRISHNARAJ BHAGTA ITA NO.5467/MUM/2012 2 2. AT THE OUTSET, THE LD. COUNSEL FOR THE ASSESSEE SHRI ANIL THAKRAR, CONTENDED THAT THE APPEAL OF THE REVE NUE IS NOT MAINTAINABLE AS THE TAX EFFECT IS BELOW PRESCRIBED MONETARY LIMIT. THIS FACTUAL MATRIX WAS NOT CONTROVERTED BY MS. VINITA MENON, LD. DR. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. BEFORE US , THE STAND OF THE ASSESSEE IS THAT THE TOTAL INCOME COMPUTED B Y THE ASSESSING OFFICER IS RS.21,50,000/- ON WHICH THE TA X EFFECT IS BELOW THE PRESCRIBED LIMIT OF RS.10 LAKH. THIS FACT UAL MATRIX WAS CONSENTED TO BE CORRECT BY LD. DR. 2.2. IN VIEW OF THE FACT THAT THE TAX EFFECT IN T HE APPEAL IS BELOW PRESCRIBED MONETARY LIMIT, THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE, AS CONTAINED IN CBDT INSTRUCTION NO.3/2011 DATED 09/02/2011, FURTHER INSTRUCTION NO. 5/2014 (F NO.279/MISC./142/2007-IT(PT) DATED 10/07/2014. T HE CBDT REVISED THE MONETARY LIMIT FOR FILING THE APPE AL BEFORE VARIOUS AUTHORITIES/COURTS VIDE CBDT CIRCULAR NO.21 OF 2015, DATED 10/12/2015 (F NO.279/MISC./142/2007-IT(PT), W ITH RETROSPECTIVE EFFECT AND ADVISED/DIRECTED THE DEPAR TMENT NOT TO FILE APPEAL IN THE CASES WHERE THE TAX EFFECT DO ES NOT EXCEED THE FOLLOWING MONETARY LIMIT.:- SL. NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS.) 1. BEFORE ITAT 10,00,000/ - SHRI KAUSHIK KRISHNARAJ BHAGTA ITA NO.5467/MUM/2012 3 2. U/S 260 A BEFORE HONBLE HIGH COURT 20,00,000/ - 3. BEFORE HONBLE 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. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF THE LD. REPRESENTATIVE FROM BOTH SIDES AT THE CONCLUSION OF THE HEARING ON 17/12/2015 SD/- SD/- ( RAMIT KOCHAR ) (JOGINDER SINGH) '!# / ACCOUNTANT MEMBER $!# /JUDICIAL MEMBER $ % MUMBAI; ) DATED : 17/12/2015 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