ASST CIT 31(1), MUMBAI V. DIAMOND TOOLS INDUSTRIES, MUMBAI

ITA 6939/MUM/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 1013 (ITAT-MUMBAI)
• Duration Of Justice: 5 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-05-2017
• Appeal Filed By: Department
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 28-11-2016
• Court: TRIBUNAL
• Department Lawyers: BHARTI SINGH
• Keywords: Tax effect
• Section: 80IB

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN (AM) I.T.A. NO. 6939 /MUM/ 201 6 (ASSESSMENT YEAR 20 09 - 1 0 ) ACIT 31(1) ROOM NO. 111 1 ST FLOOR C - 13, BKC MUMBAI - 400 051. VS. M/S. DIAMOND TOOL INDUSTRIES 108, UDYOG BHAVAN SO NAWALA ROAD GOREGAON WEST MUMBAI - 400 063. ( APPELLANT ) ( RESPONDENT ) PAN NO . AAAFD4673L ASSESSEE BY SHRI SASHI TULSIYAN DEPARTMENT BY M ISS BHARTI SINGH DATE OF HEARING 3 . 5. 201 7 DATE OF PRONOUNCEMENT 3 .5 . 201 7 O R D E R THE REVENUE HAS FI LED THIS APPEAL CHALLENGING THE ORDER DATED 31.8.2016 PASSED BY THE LEARNED CIT(A) - 42, MUMBAI AND IT RELATES TO A.Y. 2009 - 10. 2. AT THE TIME OF HEARING LEARNED AR SUBMITTED THAT THE ONLY ISSUE DISPUTED BY THE REVENUE RELATES TO DEDUCTION CLAIMED BY THE AS SESSEE U/S. 80IB OF THE ACT TO THE TUNE OF ` 3,81,891/ - . HE SUBMITTED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN ` 10 LAKHS AND HENCE, IN VIEW OF THE CIRCULAR NO. 21 OF 2015 DATED 10.12.2015 ISSUED BY CBDT, THE REVENUE IS PRECLUDED FROM PURSU ING THIS APPEAL. 3. LEARNED DEPARTMENTAL REPRESENTATIVE DID NOT DISPUTE THIS FACTUAL ASPECT. ACCORDINGLY, I DISMISS THIS APPEAL FILED BY THE REVENUE IN LIMINE AS THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN ` 10 LAKHS AND THE REVENUE IS PRECLUDED FROM PURSUING THIS APPEAL AS PER CIRCULAR REFERRED ABOVE. 2 4. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER HAS BE EN PRONOUNCED IN THE COURT ON 3 . 5 . 201 7. SD/ - (B.R.BASKARAN) ACCO UNTANT MEMBER MUMBAI ; DATED : 3 / 5 / 20 1 7 COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// ( DY./ASSTT. REGISTRAR) PS ITAT, MUMBAI