ASST. CIT 14(3), MUMBAI V. KARISHMA EXPORTS, MUMBAI

ITA 6304/MUM/2010

• Counselvise Citation: 630419914 RSA 2010
• Duration Of Justice: 1 year(s) 2 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-11-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2001-2002
• Appeal Filed On: 23-08-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V V SHASTRI
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES H , MUMBAI BEFORE SHIRI D.K. AGARWAL, JM AND SHRI R.K. PANDA, AM ITA NO. : 6304/MUM/2010 ASSESSMENT YEAR : 2003-04 ACIT - 14(3) 6 TH FLOOR, EARNEST HOUSE, NARIMAN POINT, MUMBAI-400 021 VS. M/S. KARISHMA EXPORTS 37, RAMWADI, KALBADEVI ROAD, MUMBAI-400 002 PAN NO: AAAFK 7189 K (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI V.V. SHASTRI RESPONDENT BY : SHRI VIJAY MEHTA DATE OF HEARING : 16.11.2011 DATE OF PRONOUNCEMENT : 18.11.2011 ORDER PER R. K. PANDA (AM) : THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINS T THE ORDER DATED 15.06.2010 PASSED BY THE LD. CIT(A)-25, MUMBA I RELATING TO ASSESSMENT YEAR 2003-04. 2. THE REVENUE IN ITS VARIOUS GROUNDS OF APPEAL HAS CHALLENGED THE ORDER OF THE LD. CIT(A) IN GIVING RELIEF U/S.80HHC ON ACCOUNT OF SALE OF DEPB. 3. THE LD. COUNSEL FOR THE ASSESSEE AT THE OUTSET S UBMITTED THAT THE TOTAL DISALLOWANCE U/S.80HHC UNDER THE I.T. ACT BY THE AO WAS ITA NO : 6304/MUM/2010 M/S. KARISHMA EXPORTS 2 `. 3,15,504/- AND IN APPEAL THE LD. CIT(A) GAVE RELIEF TO THE ASSESSEE. THE TAX EFFECT ON THE ADDITION DELETED BY THE LD. CIT(A ) IS LESS THAN `. 2,00,000/-, THEREFORE, THE APPEAL FILED BY THE REVE NUE IS NOT MAINTAINABLE. 4. THE LD. DR ON THE OTHER HAND, FAIRLY CONCEDED TH AT THE TAX EFFECT INVOLVED IN THE IMPUGNED APPEAL FILED BY THE REVENU E IS ADMITTEDLY LESS THAN `. 2,00,000/-. 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS MADE BY BOTH THE SIDES. ADMITTEDLY, THE TAX EFFECT INVOLVED IN THE GROUNDS RAISED BY THE REVENUE IN THE IMPUGNED APPEAL IS LESS THAN `. 2,00,000/-. THEREFORE, IN VIEW OF THE DECISION OF THE JURISDICTIONAL HIGH COURT IN TH E CASE OF PITHWA ENGINEERING WORKS REPORTED IN 276 ITR 519 AND VARIO US OTHER DECISIONS THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AND HAS TO BE DISMISSED. ACCORDINGLY, WE DISMISS THE APPEAL FILED BY THE REVENUE. 6. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED ON THIS 18 TH DAY OF NOVEMBER, 2011. SD / - SD/ - ( D.K. AGARWAL ) ( R.K. PANDA ) JUDICIAL MEMBER ACCOUNTAT MEMBER MUMBAI, DT: 18.11.2011 ITA NO : 6304/MUM/2010 M/S. KARISHMA EXPORTS 3 COPY FORWARDED TO : 1. THE APPELLANT, 2. THE RESPONDENT, 3. THE C.I.T. 4. CIT (A) 5. THE DR, H- BENCH, ITAT, MUMBAI //TRUE COPY// BY ORDER ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI ROSHANI