ITO 14(3)(2), MUMBAI V. DEVEN M. SHAH, MUMBAI

ITA 714/MUM/2014

• Counselvise Citation: [2015] 121 COUNSELVISE.COM (IT) 0924 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 5 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-07-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2005-2006
• Appeal Filed On: 31-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: NISHIT GNADHI
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL ' D ' BENCH, MUMBAI BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI SANJAY ARORA , ACCOUNTANT MEMBER ITA NO. 714/MUM/2014 (ASSESSMENT YEAR: 2005 - 06 ) INCOME TAX OFFICER - 14(3) - 2 VS. SHRI DEVEN M. SHAH 6TH FLOOR, EARNEST HOUSE NARIMAN POINT, MUMBAI 400021 174, DADAR GALLI, M.J. MARKET MUMBAI 400002 PAN - AADPS2199B APPELLANT RESPONDENT APPELLANT BY: S HRI SANJEEV KASHYAP RESPONDENT BY: SHRI NISHIT GNADHI DATE OF HEARING: 14.07.2015 DATE OF PRONOUNCEMENT: 14.07.2015 O R D E R PER D. MANMOHAN, V.P. THIS APPEAL BY THE ASSESSEE IS FILED AT THE INSTANCE OF THE REVENUE AND IT PERTAINS TO A.Y. 2005 - 06. 2. AT THE TIME OF HEARING THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE TAX EFFECT IN THIS CASE IS LESS THAN ` 4,00,000/ - (APPROX. ` 3,48,000/ - ) AND HENCE IN THE LIGHT OF THE LATEST CIRCULAR ISSUE D BY THE CBDT REVENUE IS NOT ENTITLED TO FILE AN APPEAL; THEREFORE THE APPEAL DESERVES TO BE DISMISSED. HE A LSO RELIED UPON THE FOLLOWING DECISIONS OF THE HON'BLE BOMBAY HIGH COURT, WHEREIN THE COURT CONSISTENTLY LAID DOWN THAT THE CIRCULARS ISSUED BY THE REVENUE WERE MAINLY AIMED TO REDUCE THE PENDING LITIGATI ON WHEREIN TAX EFFECT IS CONSIDERED SMALL AND HENCE THEY ARE APPLICABLE RETROSPECTIVELY: - I) CIT VS. MADHUKAR K. INAMDAR (HUF) 318 ITR 149 II) CIT VS. SMT. VIJAYA V. KAVEKAR 350 ITR 237 3. THE LEARNED D.R. FAIRLY ADMITTED THAT IN THE LIGHT OF THE DECISIONS OF HON' BLE BOMBAY HIGH COURT IF THE TAX EFFECT IN THE APPEAL FILED BY THE REVENUE IS LESS THAN ` 4,00,000/ - , IT CANNOT BE ENTERTAINED. HOWEVER, HE ITA NO. 714/MUM/2014 INCOME TAX OFFICER - 14(3) - 2 2 SUBMITTED THAT AT THE TIME OF FILING THE APPEAL THE APPELLANT HAVE FOLLOWED THE RULING CIRCULAR. HE REQUESTED FOR DIS POSAL OF THE APPEAL ON MERITS. 4. WE HAVE HEARD THE RIVAL SUBMISSIONS. ADMITTEDLY, THE TAX EFFECT IN THE APPEAL IS LESS THAN ` 4,00,000/ - AND IN THE LIGHT OF THE LATEST CIRCULAR ISSUED BY THE CBDT NO APPEAL IS MAINTAINABLE IF THE TAX EFFECT IS LESS THAN ` 4,00, 000/ - . UNDER THESE CIRCUMSTANCES WE DISMISS THE APPEAL FILED BY THE REVENUE AS UNADMITTED. ORDER PRONOUNCED IN THE OPEN COURT ON 14 TH JULY, 2015. SD/ - SD/ - ( SANJAY ARORA ) (D. MANMOHAN) ACCOUNTANT MEMBER VICE PRESIDENT MUMBAI, DATED: 14 TH JULY, 2015 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 25 , MUMBAI 4. THE CIT 14 , MUMBAI CITY 5. THE DR, D BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI