DCIT-10(2)(2), MUMBAI V. M/S.MAGNUM LUBRICANTS PRIVATE LIMITED, MUMBAI

ITA 5504/MUM/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 9864 (ITAT-MUMBAI)
• Duration Of Justice: 6 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-04-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2014-2015
• Appeal Filed On: 28-09-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANAND MOHAN LD
• Keywords: Tax effect

Judgement Text

1 ITA NO.5504/MUM/2018 M/S. MAGNUM LUBRICANTS (I) P.LTD. ASSESSMENT YEAR-2014-15 IN THE INCOME TAX APPELLATE TRIBUNAL K BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JM AND SHRI MANOJ KUMAR AGGARWAL, AM ./ I.T.A. NO.5504/MUM/2018 ( / ASSESSMENT YEAR: 2014-15) D CIT - 1 0(2) ( 2) ROOM NO. 216-A, 2 ND FLOOR AAYKAR BHAVAN, M.K. ROAD MUMBAI-400 020 / VS. M/S. MAGNUM LUBRICANTS (I) P. LTD. 6B-1, CORPORATE AVENUE, NEAR PAPER BOX, ANDHERI (EAST) MUMBAI-400 093. ! ./ ./PAN/GIR NO. AACCR-6466-J ( /APPELLANT ) : ( / RESPONDENT ) / APPELLANT BY : SHRI ANAND MOHAN LD. CIT-DR / RESPONDENT BY : NONE / DATE OF HEARING : 03/04/2019 / DATE OF PRONOUNCEMENT : 03/04/2019 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER):- 1. THE AFORESAID APPEAL BY REVENUE CONTEST THE ORDE R OF LD. FIRST APPELLATE AUTHORITY QUA DELETION OF CERTAIN DISALLOWANCE U/S 14A. NONE IS PRESENT FOR ASSESSEE WHEREAS THE REVENUE HAS, VIDE ITS LETTER DATED 14/02/2019 SOUGHT WITHDRAWAL OF THE APPEAL IN VIEW OF THE LOW TAX EFFECT 2 ITA NO.5504/MUM/2018 M/S. MAGNUM LUBRICANTS (I) P.LTD. ASSESSMENT YEAR-2014-15 CIRCULAR NO. 03/2018 DATED 11/07/2018 ISSUED BY CBD T. THE LD. CIT-DR SOUGHT PERMISSION TO WITHDRAW THE APPEAL IN TERMS O F DIRECTIONS OF LD. PR. CIT-10 BY SUBMITTING THAT THE TAX EFFECT OF THE REL IEF BEING AGITATED BY THE REVENUE IS MERELY RS.14,275/- AND THEREFORE, THE AP PEAL IS NOT MAINTAINABLE AS PER THE CITED CIRCULAR OF CBDT. 2. IN VIEW OF THE ABOVE, THE APPEAL STANDS DISMISSE D AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 3 RD APRIL, 2019. SD/- SD/- (SAKTIJIT DEY) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 03/04/2019 SR.PS:-JAISY VARGHESE ! / COPY OF THE ORDER FORWARDED TO : 1. !% / THE APPELLANT 2. &'!% / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT CONCERNED 5. ( )&* , * , / DR, ITAT, MUMBAI 6. ) ,-. / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI