ITO 11(1)(2), MUMBAI V. KULDEEP SINGH NANDA, MUMBAI

ITA 6357/MUM/2010

• Counselvise Citation: 635719914 RSA 2010
• Duration Of Justice: 1 year(s) 3 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2005-2006
• Appeal Filed On: 26-08-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P K B MENON
• Assessee Lawyers: MIHIR S SHAH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH: MUMBAI BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND SHRI R.S. PADVEKAR, JUDICIAL MEMBER ITA NO.6357/MUM/2010 (ASSESSMENT YEAR: 2005-06) INCOME-TAX OFFICER-9(2) (2), R.NO.436A, AAYAKAR BHAVAN, MAHARSHI KARVE ROAD, MUMBAI -400 020 ...... APPELLANT VS M/S. KULDEEP SINGH NANDA, 16, VASANT, PEDDAR ROAD, MUMBAI -400 026 ..... RESPONDENT PAN: AABPN 3364 K APPELLANT BY: SHRI P.K.B. MENON RESPONDENT BY: SHRI MIHIR S. SHAH DATE OF HEARING: 22.12.2011 DATE OF PRONOUNCEMENT: 22.12.2011 O R D E R PER R.S. PADVEKAR , JM : THIS APPEAL IS FILED BY THE REVENUE CHALLENGING THE IMPUGNED ORDER OF THE LD. CIT (A)-3, MUMBAI DATED 17.06.2010 FOR THE A.Y. 2005-06. 2. WE HAVE HEARD THE PARTIES. IT IS SEEN THAT THE QUANTUM DISPUTED IN APPEAL IS IN RESPECT OF DISALLOWANCE OF INTEREST EXPENDITURE OF RS.6,92,194/-. AS PER THE INSTRUCTIONS ISSUED B Y THE CBDT, MONETARY LIMIT ON TAX INVOLVED HAS BEEN PUT FOR FI LING APPEAL IN THE TRIBUNAL. THE C.B.D.T. HAS ISSUED INSTRUCTIONS TO ALL THE CHIEF COMMISSIONERS/COMMISSIONERS THAT WHERE THE TAX EFFE CT IS LESS THAN RS.3 LAKHS, THEN THE APPEAL SHOULD NOT BE FILED IN THE TRIBUNAL. MOREOVER, INSTRUCTIONS ISSUED BY THE CBDT PUTTING C EILING FOR APPROACHING THE TRIBUNAL HAS BEEN CONSIDERED BY HON BLE HIGH COURT ITA 6357/M/2010 M/S. KULDEEP SINGH NANDA 2 OF BOMBAY IN THE CASE OF CIT VS. PITHWA ENGINEERING 276 ITR 519 AND HELD THAT INSTRUCTION IS APPLICABLE TO PENDING APPE ALS ALSO. MOREOVER IN THE CASE OF MADHUKAR K. INAMADAR 318 ITR 149 (BO M) THEIR LORDSHIPS HAVE HELD THAT THE CIRCULAR NO.3 OF THE C BDT DATED 9.1.2011 IS APPLICABLE TO THE APPEALS PENDING FOR A DMISSION OR FOR FINAL DISPOSAL. WE, THEREFORE, RESPECTFULLY FOLLOWING TH E DECISIONS OF THE HONBLE JURISDICTIONAL HIGH COURT, CITED SUPRA, DIS MISS THE APPEAL FILED BY THE REVENUE AS NOT MAINTAINABLE. 3. IN THE RESULT, REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS DAY OF 2 2 ND DECEMBER, 2011. SD/- SD/- ( P.M. JAGTAP ) ACCOUTANT MEMBER ( R.S. PADVEKAR ) JUDICIAL MEMBER MUMBAI, DATE : 22 ND DECEMBER, 2011 COPY TO:- 1) THE APPELLANT. 2) THE RESPONDENT. 3) THE CIT (A)-3, MUMBAI. 4) THE CIT-11, MUMBAI. 5) THE D.R. A BENCH, MUMBAI. BY ORDER / / TRUE COPY / / ASSTT. REGISTRAR I.T.A.T., MUMBAI *CHAVAN ITA 6357/M/2010 M/S. KULDEEP SINGH NANDA 3 SR.N. EPISODE OF AN ORDER DATE INITIALS CONCERNED 1 DRAFT DICTATED ON 22.12.2011 SR.PS 2 DRAFT PLACED BEFORE AUTHOR 22.12.2011 SR.PS 3 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER JM/AM 5 APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS/PS 6 KEPT FOR PRONOUNCEMENT ON SR.PS/PS 7 FILE SENT TO THE BENCH CLERK SR.PS/PS 8 DATE ON WHICH FILE GOES TO THE HEAD CLERK 9 DATE OF DISPATCH OF ORDER