ACIT 2(1)(1), MUMBAI V. CENTRAL DEPOSITORY SERVICES (INDIA) LTD, MUMBAI

ITA 6135/MUM/2018

• Counselvise Citation: [2019] 111 COUNSELVISE.COM (IT) 4002 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 1 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-12-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Appeal Filed On: 26-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KUMAR PADMAPANI BORA
• Keywords: Tax effect

Judgement Text

IN THE INC OME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY , JM & SHRI S . RIFAUR RAHMAN, AM ./ I.T.A. NO . 6135 / MUM/ 2018 ( / ASSESSMENT YEAR: 20 1 4 - 15 ) A C IT 2(1)(1) , ROOM NO. 561, 5 TH FLOOR, AAYKAR BHAVAN, M.K.RD, MUMBAI - 400 020. 1. / VS. CENTRAL DEPOSITORY SERVICES (INDIA) LTD, 17 TH FLOOR, P.J TOWERS, DALAL STREET, FORT, MUMBAI - 400 023. ./ ./ PAN NO. AA ACC 6233 A ( / APPELLANT ) : ( / RESPONDENT ) / APPELLANT BY : SHRI KUMAR PADMAPANI BORA , DR / RESPONDENTBY : NONE / DATE OF HEARING : 16 .12. 2019 / DATE OF PRONOUNCEMENT : 16 .12.2019 / O R D E R PER S. RIFAUR RAHMAN, ACCOUNTANT MEMBER : THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE AGAINST THE ORDER OF LD. COMMIS S IONER OF INCOME TAX (APPEALS) - 4 IN SHORT REFERRED AS LD. CIT(A) , MUMBAI, DATED 1 4.08. 2018 FOR A SSESSMENT YEAR (IN SHORT A Y ) 20 1 4 - 15 . 2 I.T.A. NO. 6135/MUM/2018 M/S. CENTRAL DEPOSITORY SERVICES (I) LTD. 2 . AT THE OUTSET, WE NOTICE THAT THE TAX EFFECT OF THE RELIEF GRANTED BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) IS BELOW RS. 50 LACS AND AS PER CIRCULAR NO.17 OF 2019 DATED 08.08.2019 ISSUED BY THE CENTRAL BOARD OF DIRECT TAXES (CBDT), DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, GOV ERNMENT OF INDIA, THE CBDT HAS REVISED THE MONETARY LIMIT FOR FILING APPEALS BEFORE THE ITAT FROM THE EXISTING LIMIT OF RS. 20 LACS TO RS. 50 LACS. 3 . THE LD. DEPARTMENTAL REPRESENTATIVE (DR) FAIRLY CONCEDED THAT THIS APPEAL IS COVERED BY THE AFORESAID CI RCULAR ISSUED BY THE CBDT. THE LD. DR SUBMITTED THAT IN CASE THIS APPEAL FALLS IN THE EXCEPTIONAL CASE, THE APPEAL MAY BE ALLOWED TO RECALL. 4 . WE HAVE GONE THROUGH THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) AND THE GROUNDS OF APPEALS. WE F IND THAT THE TAX EFFECT IN THE ABOVE REFERRED APPEAL IS LESS THAN RS. 50 LACS. ACCORDINGLY, WE DISMISS THE AFORESAID APPEAL FILED BY THE REVENUE AS NOT MAINTAINABLE/WITHDRAWN. 3 I.T.A. NO. 6135/MUM/2018 M/S. CENTRAL DEPOSITORY SERVICES (I) LTD. 5 . IN THE NET RESULT, THE APPEAL FILED BY THE REVENUE STA NDS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON 16 TH DEC , 20 19 . SD/ - SD/ - ( SAKTIJIT DEY ) (S. RIFAUR RAHMAN ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED : 16 . 12 .201 9 SR.PS . **PP / 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 F I LE / BY ORDER, . / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI