ACIT 1(2)(1), MUMBAI V. ICICI SECURITIES PRIMARY DEALERSHIP LTD, MUMBAI

ITA 6394/MUM/2016

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 9850 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 10 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2009-2010
• Appeal Filed On: 28-10-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: H N SINGH
• Assessee Lawyers: VIDHI DOSHI
• Keywords: Tax effect
• Section: 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C , BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI SANDEEP GOSAIN , JM ITA NO. 6394 / MUM/20 16 ( ASSESSMENT YEAR : 2009 - 10 ) ACIT 1(2)(1) MUMBAI VS. M/S. ICICI SECURITIES PRIMARY DEALERSHIP LTD., ICICI CENTRE H.T. PAREKH MARG CHURCHGATE PAN/GIR NO. AAACI0995H ( APPELLANT ) .. ( RESPONDENT ) REVENUE BY SHRI H.N. SINGH ASSESSEE BY MS. VIDHI DOSHI DATE OF HEARING 24 / 09 /201 8 DATE OF PRONOUNCEMENT 24 / 09 /201 8 / O R D E R PER R.C.SHARMA (A.M) : THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF CIT(A) - 8, MUMBAI DATED 29/07/2016 FOR A.Y.2009 - 10 IN THE MATTER OF ORDER PASSED U/S.143(3) R.W.S. 147 OF THE IT ACT. 2. WE HAVE HEARD LD. DEPARTMENTAL RE PRESENTATIVE AND PERUSED THE MATERIALS AVAILABLE ON THE RECORD IN RESPECT OF THE ABOVE APPEAL. IT IS OBSERVED THAT THE DEMAND/TAX EFFECT IN THE REVENUE AP PEAL IS NOT EXCEEDING RS. 20 LAKH S. UNDER THE POWER VESTED BY SEC. 268A(1) OF THE I T. ACT, CB DT HAS RECENTLY ISSUED CIRCULAR NO. 3/2018 DATED 11.07.2018 INSTRUCTING THE AUTHORITIES BELOW THAT DEPARTMENTAL APPEAL SHOULD NOT BE FILED BEFORE 1TAT WHERE THE DEMAND/TAX EFF ECT DOES NOT EXCEED RS. 20 ITA NO. 6394/MUM/2016 M/S. ICICI SECURITIES PRIMARY DEALERSHIP LTD., 2 LAKH S. THE CIRCULAR SPECIFICALLY MENTIONS THAT THE INSTRUCTIONS ARE APPLICABLE TO ALL PENDING APPEALS ALSO. 6. SUBJECT TO SOME EXCEPTIONS, IT IS FURTHER DIRECTED BY CBDT THAT ALL THE DEPARTMENTAL APPEALS PENDING BEFORE ITAT WHERE THE DEMAND/TAX EFFECT IS LESS THAN 20 LA KH S SHOULD BE EITHER WITHDRAWN OR N OT PRESSED BY THE DEPARTMENTAL REPRESENTATIVE. 7. THE PRESENT APPEAL IS NOT COVERED BY ANY EXCEPTIONS MENTIONED IN THE SAID CBDT CIRCULAR. SINCE THE TAX DEMAND IN DISPUTE IN THIS DEPARTMENTAL APPEAL DOES NOT EXCEED THE LIMIT OF RS. 20 LA KH S AS SET OUT BY CBDT, SUCH APPEAL IS NOT MAINTAINABLE IN VIEW OF FORE GOINGS. ACCORDINGLY THE APPEAL OF THE DEPARTMENT IS DISMISSED AS NOT PRESSED/WITHDRAWN AND HENCE INFRUCTUOUS. 8. IN THE RESULT, THE APPEAL OF REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 24 / 09 /201 8 SD/ - ( SANDEEP GOSAIN ) SD/ - (R.C.SHARMA) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 24 / 09 /201 8 KARUNA SR. PS COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGI STRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//