INCOME TAX OFFICER 15(1)(2), MUMBAI V. FREYA INFRASTRUCTURE PRIVATE LIMITED , MUMBAI

ITA 6303/MUM/2017

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 3097 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 4 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-03-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 18-10-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: D V GANDHI
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER ITA NO.6303/MUM./2017 ( ASSESSMENT YEAR : 2010 11 ) INCOME TAX OFFICER WARD 15(1)(2), MUMBAI .. APPELLANT V/S FREYA INFRASTRUCTURE PVT. LTD. J/30, APMC MARKET II, DENA BUNDER PHASE II, VASHI, MUMBAI 400 703 PAN AABCF3637Q .... RESPONDENT REVENUE BY : SHRI VIVEK ANAND OJHA ASSESSEE BY : SHRI D.V. GANDHI DATE OF HEARING 05.03.2019 DATE OF ORDER 05.03.2019 O R D E R THE PRESENT APPEAL PREFERRED BY THE REVENUE IS DIRECTED AGAINST THE IMPUGNED ORDER DATED 10 TH JULY 2017, PASSED BY LEARNED COMMISSIONER (APPEALS) 24, MUMBAI, PERTAINING TO THE ASSESSMENT YEAR 2010 11. 2 . AT THE OUTSET, THE LEARNED AUTHORISED REPRESENTATIVE SUBMITTED THAT THE TAX EFFECT ON THE QUANTUM OF ADDITIONS CONTESTED BY THE REVENUE IS LESS THAN THE PRESCRIBED LIMIT OF ` 20 LAKH FIXED FOR FILING OF APPEAL BEFORE THE INCOME TAX APPELLATE TRIBUNAL, HENC E, IS COVERED BY 2 FREYA INFRASTRUCTURE PVT. LTD. THE RECENTLY ISSUED LOW TAX EFFECT CIRCULAR NO.3/2018, DATED 11 TH JULY 2018, BY THE CENTRAL BOARD OF DIRECT TAXES (CBDT). 3 . THE LEARNED DEPARTMENTAL REPRESENTATIVE FAIRLY AGREED WITH THE AFORESAID SUBMISSIONS OF THE LEARNED AUTHORISED REPRESENTATIVE . 4 . I HAVE GONE THROUGH THE CBDT CIRCULAR REFERRED TO ABOVE AND FIND THAT THE TAX EFFECT ON THE QUANTUM OF ADDITIONS DISPUTED BY THE REVENUE IN THE PRESENT APPEAL IS BELOW THE THRESHOLD LIMIT OF ` 20 LAKH. T HEREFORE, AS PER THE CBDT CIRCULAR R EFERRED TO ABOVE, THE APPEAL FILED BY THE REVENUE HAS TO BE WITHDRAWN/ NOT PRESSED, SINCE, THE AFORESAID CIRCULAR BY CBDT APPLIES EVEN TO THE PENDING APPEALS. IN VIEW OF THE AFORESAID, I DISMISS THE PRESENT APPEAL FILED BY THE REVENUE. 2 . IN THE RESULT, REVEN UES APPEAL STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 05.03.2019 SD/ - SAKTIJIT DEY JUDICIAL MEMBER MUMBAI, DATED: 05.03.2019 COPY OF THE ORDER FORWARDED TO : 3 FREYA INFRASTRUCTURE PVT. LTD. ( 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 (DY./ASSTT. REGISTRAR) ITAT, MUMBAI