ACIT CEN CIR 2, MUMBAI V. MAJETHIA BROTHERS, MUMBAI

ITA 6139/MUM/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 3486 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 4 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 16-07-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 05-10-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES B, MUMBAI , , , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, AND SHRI SANJAY ARORA, ACCOUNTANT MEMBER ITA NO.6139/MUM/2012 ASSESSMENT YEAR:2009-10 ACIT, CENTRAL CIRCLE-2, R. NO.904, PRATISHTHA BHAVAN, MARINE LINES, MUMBAI-400020 M/S MAJETHIA BROTHERS, 7, 2 ND FLOOR, PATHAIBAPA NIWAS, N.S. ROAD, MULUND (WEST), MUMBAI-400080 ( / REVENUE) ( !'# $ /ASSESSEE) PAN. NO.AAGFM3074N C.O. NO.259/MUM/2013 (ARISING OUT OF ITA NO.6139/MUM/2012) ASSESSMENT YEAR:2009-10 M/S MAJETHIA BROTHERS, M-20, APMC MARKET, PHASE-II, SECTOR-19, VASHI NAVI MUMBAI-400705 ACIT, CENTRAL CIRCLE-2, R. NO.904, PRATISHTHA BHAVAN, MARINE LINES, MUMBAI-400020 ( !'# $ /ASSESSEE) ( / REVENUE) PAN. NO. AAGFM3074N ITA NO. 6139/MUM/2012 & C.O. NO.259/MUM2013 M/S. MAJETHIA BROTHERS 2 & ' $ ( / DATE OF HEARING : 29/02/2016 ' $ ( / DATE OF ORDER: 29/02/2016 / O R D E R PER JOGINDER SINGH (JUDICIAL MEMBER) THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DATE D 16/07/2012, OF THE LD. FIRST APPELLATE AUTHORITY, M UMBAI AND THE ASSESSEE HAS ALSO PREFERRED CROSS OBJECTION AGAINST THE AFORESAID ORDER. 2. DURING HEARING OF THIS APPEAL, THE LD. COUNSEL FOR THE ASSESSEE, SNEHA R. SARBHUSHAN, AT THE OUTSET, C ONTENDED THAT THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW PRESCRIBED MONETARY LIMIT. THIS FACTUAL ASSERTION WAS CONSENTE D TO BE CORRECT BY SHRI SANJEEV JAIN, LD. DR. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. IT IS NOT ED THAT THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW PRESCRIBE D LIMIT OF RS.10 LAKH FOR FILING THE APPEAL BEFORE THE TRIBUNA L. 2.2. IN VIEW OF THE FACT, THAT THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW PRESCRIBED MONETARY LIMIT, AS CONTA INED IN CBDT INSTRUCTION NO.21 OF 2015, DATED 10/12/2015 (F NO.279/MISC./142/2007-IT(PT), APPLICABLE WITH RETRO SPECTIVE EFFECT, WHEREIN, THE DEPARTMENT WAS ADVISED/DIRECTE D BY THE !'# $ / ASSESSEE BY SNEHA R. SARBHUSHAN / REVENUE BY SHRI SANJEEV JAIN-DR ITA NO. 6139/MUM/2012 & C.O. NO.259/MUM2013 M/S. MAJETHIA BROTHERS 3 BOARD NOT TO FILE APPEAL IN THE CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE FOLLOWING MONETARY LIMIT.:- SL. NO. APPEALS IN INCOME T AX MATTERS MONETARY LIMIT (IN RS.) 1. BEFORE ITAT 10,00,000/ - 2. U/S 260 A BEFORE HONBLE HIGH COURT 20,00,000/ - 3. BEFORE HONBLE SUPREME COURT 25,00,000/ - AS PER THE AFORESAID INSTRUCTION/REVISED MONETARY L IMIT, THE DEPARTMENT IS NOT TO FILE APPEAL BEFORE THE TRI BUNAL, WHEREIN, THE TAX EFFECT IS LESS THAN RS.10,00,000/- , CONSEQUENTLY, THE APPEAL OF THE REVENUE IS NOT MAIN TAINABLE. THEREFORE, THE APPEAL OF THE REVENUE IS DISMISSED A S NOT MAINTAINABLE. 3. SO FAR AS, THE CROSS OBJECTION OF THE ASSESSEE I S CONCERNED, THE SAME WAS NOT PRESSED BY THE LD. COUN SEL FOR THE ASSESSEE TO WHICH THE LD. DR HAD ALSO NO OBJECTION, THEREFORE, THE SAME IS DISMISSED AS NOT PRESSED. FINALLY, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE, WHEREAS, THE CROSS OBJECTION OF THE A SSESSEE IS DISMISSED AS NOT PRESSED. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF LD. REPRESENTATIVE FROM BOTH SIDES AT T HE CONCLUSION OF THE HEARING ON 29/02/2016. SD/- SD/- ( SANJAY ARORA ) (JOGINDER SINGH) ! ' / ACCOUNTANT MEMBER # ' /JUDICIAL MEMBER & MUMBAI; ) DATED : 29/02/2016 ITA NO. 6139/MUM/2012 & C.O. NO.259/MUM2013 M/S. MAJETHIA BROTHERS 4 F{X~{T? P.S/. . . $#%&'(')% / COPY OF THE ORDER FORWARDED TO : 1. +,- / THE APPELLANT 2. ./,- / THE RESPONDENT. 3. 0 0 1$ ( + ) / THE CIT, MUMBAI. 4. 0 0 1$ / CIT(A)- , MUMBAI 5. 34 .$ ! , 0 +( ! 5 , & / DR, ITAT, MUMBAI 6. ' 7& / GUARD FILE. / BY ORDER, /3+$ .$ //TRUE COPY// / (DY./ASSTT. REGISTRAR) , & / ITAT, MUMBAI