ACIT CIR 23(2), MUMBAI V. ASHWIN D NAGDA- HUF, MUMBAI

ITA 5987/MUM/2011

• Counselvise Citation: 598719914 RSA 2011
• Duration Of Justice: 3 year(s) 11 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-07-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 23-04-2015
• Assessment Year: 2004-2005
• Appeal Filed On: 26-08-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: E SHRIDHAR
• Assessee Lawyers: DR P DANIEL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH A, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI SANJAY GARG, JUDICIAL MEMBER ITA NO.5987/M/2011 ASSESSMENT YEAR: 2004-05 ACIT, CIRCLE 23(2), BLDG. C-10, 2 ND FLOOR, ROOM NO.202, PRATYAKSHA KAR BHAVAN, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI 400 051 VS. M/S. ASHWIN DEVCHAND NAGDA - HUF, E-13, INDRAPRASTHA, JAIN MANDIR RD., SARVODAYA NAGAR, MULUND (W), MUMBAI 400 080 PAN: AAAHA 2498C (APPELLANT) (RESPONDENT) PRESENT FOR: ASSESSEE BY : DR. P. DANIEL, A.R. REVENUE BY : SHRI E. SHRIDHAR, D.R. DATE OF HEARING : 28.07.2015 DATE OF PRONOUNCEMENT : 28.07.2015 O R D E R PER SANJAY GARG, JUDICIAL MEMBER: THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE AG AINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) [HEREINAFT ER REFERRED TO AS THE CIT(A)] DATED 01.06.2011 RELEVANT TO ASSESSMENT YEA R 2004-05. 2. AT THE OUTSET, LEARNED AR OF THE ASSESSEE RELYIN G UPON THE INSTRUCTION NO.3/2011 DATED 09-02-2011 SUBMITTED THAT THE TAX E FFECT IN THE APPEAL OF THE REVENUE IS LESS THAN RS.3 LACS, THEREFORE, THE APPE AL OF THE REVENUE IS NOT MAINTAINABLE. HE HAS SUBMITTED A WORKING OF THE TAX EFFECT IN THIS CASE. 3. LEARNED DR HAS NOT CONTROVERTED TO THE SUBMISSIO N MADE BY THE LEARNED AR. ITA NO.5987/M/2011 M/S. ASHWIN DEVCHAND NAGDA-HUF 2 4. AFTER HEARING THE LEARNED REPRESENTATIVES OF BO TH THE PARTIES, WE FIND THAT AS PER CBDT INSTRUCTION NO.3 OF 2011, DATED 9TH FEB RUARY 2011, THE APPEAL BEFORE THE APPELLATE TRIBUNAL CAN BE FILED BY THE R EVENUE, WHEN THE TAX EFFECT EXCEEDS THE MONETARY LIMIT OF RS.3,00,000/-. THEREF ORE THE APPEAL OF THE REVENUE IS DISMISSED UNDER SECTION 268A OF THE INCO ME TAX ACT. 5. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. ORDER PRONOUNCED IN THE OPEN COURT ON 28.07.2015. SD/- SD/- (G.S. PANNU) (SANJAY GARG) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 28.07.2015. * KISHORE, SR. P.S. COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI THE DR CONCERNED BENCH //TRUE COPY// [ BY ORD ER DY/ASSTT. REGISTRAR, ITAT, MUMBAI.