DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-11(2)(2), MUMBAI V. S.V.C. RESOURCES LTD, MUMBAI

ITA 6259/MUM/2017

• Counselvise Citation: [2019] 114 COUNSELVISE.COM (IT) 6155 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-11-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 16-10-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V VINOD KUMAR
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI BEFORE SHRI PRAMOD KUMAR, VICE PRESIDENT, AND SHRI SAKTIJIT DEY , JUDICIAL MEMBER ITA NO . 6259 / MUM . /2017 ( ASSESSMENT YEAR : 20 11 12 ) DY. COMMISSIONER OF INCOME TAX CIRCLE 11(2)(2), MUMBAI . APPELLANT V/S S.V.C. RESOURCES LTD. 42, CITI MALL, NEW LINK ROAD ANDHERI (W), MUMBAI 400 053 PAN AAACP7022N . RESPONDENT REVENUE BY : SHRI V. VINOD KUMAR ASSESSEE BY : NONE DATE OF HEARING 13 . 11 .2019 DATE OF ORDER 13.11.2019 O R D E R PER SAKTIJIT DEY, J.M . THE AFORESAID APPEAL HAS BEEN FILED BY THE REVENUE CHALLENGING THE ORDER DATED 30 TH JUNE 2017, PASSED BY THE LEARNED COMMISSIONER (APPEALS) 18, MUMBAI, FOR THE ASSESSMENT YEAR 2011 12. 2. WHEN THE APPEAL WAS CALLED FOR HEARING, NONE APPEARED ON BEHALF OF THE RESPONDENT ASSESSEE. THEREFORE, WE PROCEED TO DISPOSE OFF THE 2 S.V.C. RESOURCES LTD. PRESENT APPEAL AFTER HEARING THE LEARNED DEPARTMENTAL REPRESENTATIVE AND ON THE BASIS OF MATERIAL AVAILABLE ON RECORD. 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE FAIRLY SUBMITTED BEFORE US THAT THE TAX EFFECT ON THE DISPUTED AMOUNT IS BELOW THE REVISED MONETARY LIMIT OF ` 50 LAKH , APPLICABLE TO APPEAL S PENDING BEFORE THE TRIBUNAL, AS PER CBDT CIRCULAR NO.17 OF 2019, DATED 8 TH AUGUST 2019. FURTHER, HE ALSO SUBMITTED THAT THE EXCEPTIONS PROVIDED IN CBDT CIRCULAR NO.3 OF 2018, DATED 11 TH JULY 2018 R/W CIRCULAR F. NO.279/ MISC./142/2007 ITJ (PT) DATED 20 TH AUGUST 2018, WOULD NOT APPLY TO THE PRESENT APPEAL. 4. HAVING CONSIDERED THE SUBMISSIONS OF THE LEARNED DEPARTMENTAL REPRESENTATIVE AND AFTER PERUSAL OF THE MATERIAL ON RECORD, WE ARE OF THE VIEW THAT THE TAX EFFECT ON THE AMOUNT DISPUTED BY THE REVENUE IN THE PRESENT APPEAL IS BELOW THE REVISED MONETARY LIMIT OF ` 50 LAKH AS PER CBDT CIRCULAR NO.17/2019, DATED 8 TH AUGUST 2019, R/W CBDT CIRCULAR NO.3/2018, DATED 11 TH JULY 2018. IT ALSO STANDS CLARIFIED BY THE CBDT THAT THE REVISED MONETARY LIMIT OF ` 50 LAKH AS PER THE AFORESAID CBDT CIRCULARS WOULD ALSO APPLY TO ALL PENDING APPEAL S. IN VIEW OF THE AFORESAID, REVENUES APPEAL DESERVES TO BE DISMISSED. HOWEVER, THE REVENUE IS GIVEN LIBERTY TO SEEK RECALL OF THIS ORDER IF, AT A LATER POINT 3 S.V.C. RESOURCES LTD. OF TIME, IT IS FOUND THAT THE APPEAL FALLS UNDER ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCULARS REFERRED TO ABOVE. 5. IN THE RESULT, REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 13.11.2019 SD/ - PRAMOD KUMAR VICE PRESIDENT SD/ - SAKTIJIT DEY JUDICIAL MEMBER MUMBAI, DATED: 13.11.2019 COPY OF THE ORDER FORWARDED TO : (1) THE ASSESSEE; (2) THE REVENUE; (3) THE CIT(A); (4) THE CIT, MUMBAI CITY CONCERNED; (5) THE DR, ITAT, MUMBAI; (6) GUARD FILE . TRUE COPY BY ORDER PRADEEP J. CHOWDHURY SR. PRIVATE SECRETARY ASSISTANT REGISTRAR ITAT, MUMBAI