K N TEXTILES, MUMBAI V. ITO 14(2)(1), MUMBAI

ITA 6890/MUM/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 3421 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 3 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-03-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 21-03-2016
• Assessment Year: 2004-2005
• Appeal Filed On: 27-11-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: M MURLIDR
• Assessee Lawyers: KESHAV B BHUJLE
• Keywords: Retrospective amendment; Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES A, MUMBAI , , , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER AND SHRI RAJENDRA, ACCOUNTANT MEMBER ITA NOS.6890 TO 6094/MUM/2013 ASSESSMENT YEARS-2004-05 & 2006-07 TO 2009-10 M/S K. N. TEXTILES, 105/107, 2 ND FLOOR, OLD HANUMAN LANE, KALBADEV, MUMBAI-400002 / VS. ITO - 14(2)(1), 304, 3 RD FLOOR, EARNEST HOUSE, NCPA MARG MUMBAI-400021 PAN NO. AAAFK7210L ( / ASSESSEE) ( / REVENUE) ITA NOS.7446 TO 7450/MUM/2013 ASSESSMENT YEARS-2004-05 & 2006-07 TO 2009-10 ITO - 14(2)(1), 304, 3 RD FLOOR, EARNEST HOUSE, NCPA MARG MUMBAI-400021 / VS. M/S K. N . TEXTILES, 105/107, 2 ND FLOOR OLD HANUMAN LANE, KALBADEV, MUMBAI-400002 PAN NO.AAAFK7210L ( / REVENUE) ( / ASSESSEE) ITA NO.6890 TO 6894/MUM/2013 & ITA NOS.7446 TO 7450/MUM/2013 M/S K.N. TEXTILES 2 / ASSESSEE BY SHRI KESHAV B. BHUJLE / REVENUE BY SHRI M. MURLI-DR / DATE OF HEARING : 21/03/2016 / DATE OF ORDER: 21/03/2016 / O R D E R PER BENCH THIS BUNCH OF TEN CROSS APPEALS IS BY THE ASSESSEE AS WELL AS REVENUE AGAINST THE IMPUGNED ORDERS ALL DAT ED 20/09/2013 OF THE LD. FIRST APPELLATE AUTHORITY, MU MBAI. FIRST, WE SHALL TAKE UP THE APPEALS OF THE ASSESSEE (ITA NOS.6890 TO 6864/MUM/2013), ON THE GROUNDS STATED I N THE RESPECTIVE APPEAL. 2. DURING HEARING, THE LD. COUNSEL FOR THE ASSESS EE, SHRI KESHAV B. BHUJLE, DID NOT PRESS THESE APPEALS. THE LD. DR, SHRI M. MURLI HAD NO OBJECTION TO THE REQUEST O F THE ASSESSEE. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. IN VIEW O F THE FACT THAT THE ASSESSEE DOES NOT WANT TO PRESS THESE APPE ALS AND THE LD. DR HAD NO OBJECTION, THEREFORE, THE APPEALS OF THE ASSESSEE ARE DISMISSED AS NOT PRESSED. ITA NO.6890 TO 6894/MUM/2013 & ITA NOS.7446 TO 7450/MUM/2013 M/S K.N. TEXTILES 3 3. NOW, WE SHALL TAKE UP THE APPEALS OF THE REVENUE (ITA NOS.7446 TO 7450/MUM/2013) ON THE GROUNDS STATED THEREIN. AT THE OUTSET, THE LD. COUN SEL FOR THE ASSESSEE, SHRI KESHAV B. BHUJLE, CONTENDED THA T THE TAX EFFECT IN THE RESPECTIVE APPEAL IS BELOW PRESCR IBED MONETARY LIMIT. THIS FACTUAL MATRIX WAS CONSENTED T O BE CORRECT BY SHRI M. MURLI, LD. DR. 3.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. IT IS NOT ED THAT THE TAX EFFECT IN THE PRESENT APPEALS IS BELOW PRES CRIBED MONETARY LIMIT OF RS.10 LAKH FOR FILING THE APPEAL BEFORE THE TRIBUNAL. THE CBDT ISSUED INSTRUCTION NO.21 OF 2015, DATED 10/12/2015 (F NO.279/MISC./142/2007-IT(PT), APPLICABLE WITH RETROSPECTIVE EFFECT, WHEREIN, THE DEPARTMENT WAS ADVISED/DIRECTED BY THE BOARD NOT T O FILE APPEAL IN THE CASES WHERE THE TAX EFFECT DOES NOT E XCEED THE FOLLOWING MONETARY LIMIT.:- SINCE, THE TAX EFFECT IN THE RESPECTIVE APPEAL IS B ELOW PRESCRIBED MONETARY LIMIT, THEREFORE, THE APPEALS O F THE REVENUE ARE NOT MAINTAINABLE, CONSEQUENTLY, DISMISS ED. SL. NO. APPEALS IN INCOME TAX MATTE RS MONETARY LIMIT (IN RS.) 1. BEFORE ITAT 10,00,000/ - 2. U/S 260 A BEFORE HONBLE HIGH COURT 20,00,000/ - 3. BEFORE HONBLE SUPREME COURT 25,00,000/ - ITA NO.6890 TO 6894/MUM/2013 & ITA NOS.7446 TO 7450/MUM/2013 M/S K.N. TEXTILES 4 FINALLY, THE APPEALS OF THE ASSESSEE ARE DISMISSED AS NOT PRESSED, WHEREAS, THE APPEALS OF THE REVENUE AR E DISMISSED AS NOT MAINTAINABLE, BEING, BELOW PRESCRI BED MONETARY LIMIT. THIS ORDER WAS PRONOUNCED IN THE OPEN IN THE PRESENCE OF LD. REPRESENTATIVES FROM BOTH SIDES AT THE CONCLUSION OF THE HEARING ON 21/03/2016. SD/- SD/- (RAJENDRA) (JOGINDER SINGH) '# / ACCOUNTANT MEMBER $# / JUDICIAL MEMBER MUMBAI; # DATED : 21/03/2016 F{X~{T? P.S/. . . %$&'()(*& / COPY OF THE ORDER FORWARDED TO : 1. %& '( / THE APPELLANT (RESPECTIVE ASSESSEE) 2. )*'( / THE RESPONDENT. 3. + + , ( %& ) / THE CIT, MUMBAI. 4. + + , / CIT(A)- , MUMBAI, 5. /01 )2 , + %& %23 , / DR, ITAT, MUMBAI 6. 14 5 / GUARD FILE. / BY ORDER, */& ) //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI