DY.CIT-24(2), MUMBAI V. MAHANT M. MAHATYAGI, MUMBAI

ITA 6315/MUM/2011

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 5835 (ITAT-MUMBAI)
• Duration Of Justice: 6 year(s) 10 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2005-2006
• Appeal Filed On: 13-09-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V JUSTIN
• Keywords: Tax effect
• Section: 143(3); 10

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL E BENCH, MUMBAI BEFORE SHRI R. C. SHARMA , AM , AND SHRI AMARJIT SINGH , J M I.T.A. NO. 6315 /MUM/201 1 ASSESSMENT YEAR: 2005 - 06 DCIT - 24(2), C - 13, 6 TH FLOOR, PRATYAKSHAKAR BHAVAN, BKC, BANDRA (E), MUMBAI - 400051 . VS. SHRI MAHANT M. MAHATYAGI, SANKAT MOCHAN, VIJAY HANUMAN TEKRI, TAPOVAN, PATHANWADI, MALAD (E), MUMBAI - 97 . PAN: AANPM8738N (APPELLANT) : (RESPONDENT) APPELLANT BY : SHRI V. JUSTIN (DR) RESPONDENT BY : NONE DATE OF HEARING : 17 / 0 7 /201 8 DATE OF PRONOUNCEMENT : 1 7 / 07 /2018 O R D E R PER AMARJIT SINGH , JM: THE CAPTIONED APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE CIT(A) - 34 , MUMBAI DATED 22 . 0 7 .201 1 , PERTAINING TO THE ASSESSMENT YEAR 2005 - 06 , WHICH IN TURN HAS ARISEN FROM THE ORDER PASSED B Y THE ASSESSING OFFICER DATED 20 . 08 .20 10 UNDER SECTION 143(3) , R.W.S . 147 OF THE I.T. ACT, OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT). 2 . AT THE VERY OUTSET, THE LD. REPRESENTATIVE OF THE ASSESSEE HAS ARGUED THAT THE PRESENT APPEAL IS BARRED BY THE MONETARY LIMITATION IN VIEW OF THE CBDT CIRCULAR NO.03/2018 DATED 11.07.2018 IN WHICH THE MONETARY LIMIT HAS BEEN CONFINED TO THE EXTENT OF 20.00 LACS FOR FILING OF APPEALS BEFORE TRIBUNAL . T HE 2 ITA NO. 6315 /M/201 1 A.Y. 2005 - 06 CBDT VIDE CIRCULAR NO.03 /201 8 DATED 1 1/07 /201 8 HAS REVISED THE MONETARY LIMITS FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL IN SUPPRESSION OF CIRCULAR N0 21 OF 2015 DATED 10.12.2015 . THE TAX EFFEC T IN DISPUTE IN THE CAPTIONED APPEAL IS STATED TO BE BELOW THE MONETARY LIMIT OF R S.20 .00 LACS SPECIFIED IN TH E CBDT CIRCULAR DATED 11/07/2018 (SUPRA ) THE QUANTUM IN DISPUTE ON BOGUS PURCHA SES IS AMOUNTING TO RS.50,79,316/ - . THE TAX EFFECT ON THIS AMOUNT COMES ON T HIS 32% WHICH COMES TO 16,25,381/ - WHICH IS BELOW THE 20.00 LACS. WHEN THIS WAS POINTED OUT TO SR. DR, HE COULD NOT POINT OUT THAT THIS CASE FAL LS UNDER ANY OF THE EXCEPTION S AS PROVIDED IN PARA 10 OF THE CBDT CIRCULAR NO. 03/2018 H ENCE THE APPEA L OF REVENUE AS DISMISSED AS WITHDRAWN IN VIEW OF CBDT CIRCULAR NO. 03/2018. ORDER PRO NOUNCED IN THE OPEN COURT ON 17/07/ 201 8 . SD/ - SD/ - ( R. C. SHARMA ) ACCOUNTANT MEMBER ( AMARJIT SINGH ) JUDICIAL MEMBER MUMBAI, DATED: 17/07/ 2018 . *VIJAY * COPY TO : 1) THE APPELLANT 2) THE RESPONDENT 3) THE CIT(A) CONCERNED 4) THE CIT CONCERNED 5) THE D.R, B BENCH, MUMBAI 6) GUARD FILE BY ORDER DY./ASSTT. REGISTRAR I.T.A.T, MUMBAI 3 ITA NO. 6315 /M/201 1 A.Y. 2005 - 06