ACIT 9(2)(2), MUMBAI V. CINELINE INDIA LTD(EARLIER KNOWN AS CLINEMAX INDIA LIMITED), MUMBAI

ITA 5942/MUM/2017

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 7019 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 4 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-01-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 19-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KUMAR PADMAPANI BORA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C , BENCH MUMBAI BEFORE SHRI M.BALAGANESH , A M & SHRI RAVISH SOOD,JM ITA NO. 5942 /MUM/201 7 ( ASSESSMENT YEAR : 2007 - 08 ) ASST. COMMISSIONER OF INCOME TAX - 9(2)(2) ROOM NO.665A, 6 TH FLOOR AAYAKAR BHAVAN M.K.ROAD, MUMBAI - 400020 VS. M/S. CINELINE INDIA LTD (EARLIER KNOWN AS CINEMAX INDIA LTD.) M/S. ESKAY INFRASTRUCTURE DEVELOPMENT PVT. LTD., BUSINESS POINT - 349 8 TH FLOOR, WESTERN EXPRESS HIGHWAY, ANDHERI (EAST) MUMBAI 400 069 PAN/GIR NO. AACCC1775F (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI KUMAR PADMAPANI BORA ASSESSEE BY NONE DATE OF HEARING 30 / 01/ 2020 DATE OF PRONOUNCEMENT 30 / 01 /2020 / O R D E R PER M. BALAGANESH (A.M) : THIS APPEAL IN ITA NO. 5942/MUM/2017 FOR A.Y. 2007 - 08 ARISE S OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 16, MUMBAI IN APPEAL NO. CIT(A) - 16/IT - 295/ACIT - 9(2)(2)/2015 - 16 DATED 12/06/2017 (LD. CIT(A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S.143(3) R.W.S. 254 OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 30/03/2015 BY THE LD. ASST. COMMISSIONER OF INCOME TAX - 9(2)(2), MUMBAI (HEREINAFTER REFERRED TO AS LD. AO). ITA NO. 5942/MUM/2017 M/S. CINELINE INDIA LTD., 2 2. BOTH THE PARTIES BEFORE US MUTUALLY AGREED THAT THIS REVENUE APPEAL IS TO BE DISMISSED AS NOT MAINTAINAB LE 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 W ELL SETTLED THAT THIS CIRCULAR IS BINDING ON THE REVENUE AUTHORITIES. 3. RESPECTFULLY 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 U NDER 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 RE SULT, APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 30 / 01 /2020 SD/ - ( RAVISH SOOD ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEM BER MUMBAI ; DATED 30 / 01 / 2020 ITA NO. 5942/MUM/2017 M/S. CINELINE INDIA 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//