ITO 9 (1)(1), MUMBAI V. ADHUNIK SYNTHETICS LTD., MUMBAI

ITA 5601/MUM/2018

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 8541 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 3 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-01-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2015-2016
• Appeal Filed On: 03-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A , BENCH MUMBAI BEFORE SHRI MAHAVIR SINGH , JM & SHRI M.BALAGANESH, AM ITA NO. 5601 /MUM/201 8 ( ASSESSMENT YEAR : 2015 - 16 ) INCOME TAX OFFICER 9(1)(1), MUMBAI ROOM NO.260A, 2 ND FLOOR AAYAKAR BHAVAN, M.K.ROAD , MUMBAI 400 020 VS. M/S. ADHUNIK SYNTHETICS LTD 3/116, 1 ST FLOOR, PINTO HOUSE, MAROL COOPERATIVE INDUSTRIAL ESTATE, ANDHERI EAST MUMBAI 400 058 PAN/GIR NO. AAACA6847L (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI MICHAEL JERALD ASSESSEE BY MS. PRATHE AGRAWAL DATE OF HEARING 09 / 01 /2020 DATE OF PRONOUNCEMENT 15 / 01 /2020 / O R D E R PER M. BALAGANESH (A.M) : THIS APPEAL IN ITA NO. 5601/MUM/2018 FOR A.Y. 2015 - 16 ARISES OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 16, MUMBAI IN APPEAL NO. CIT(A) - 16/ITO - 9(1)(1)/IT - 843/2017 - 18 DATED 18/07/2018 (LD. CIT(A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S.143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 26/12/2017 BY THE LD. INCOME TAX OFFICER - 9(1)(1), MUMBAI (HEREINAFTER REFERRED TO AS LD. AO). ITA NO .5601/MUM/2018 M/S. ADHUNIK SYNTHETICS LTD., 2 2. BOTH THE PARTIES BEFORE US MUTUALLY AGREED THAT THIS REVENUE APPEAL IS 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. RESPECTF ULLY FOLLOWING THE SAID CIRCULAR, THE APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. 4. INCASE, IF THE REVENUE IS ABLE 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, APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. ORDER P RONOUNCED IN THE OPEN COURT ON THIS 15 / 01 /2020 SD/ - ( MAHAVIR SINGH ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 15 / 01 / 2020 ITA NO .5601/MUM/2018 M/S. ADHUNIK SYNTHETICS LTD., 3 KARUNA , SR.PS COPY OF THE ORDE R 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//