ASST CIT CC 1 (3) , MUMBAI V. M/S YESH POONAM DEVELOPERS , MUMBAI

ITA 745/MUM/2020

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 7731 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-08-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2014-2015
• Appeal Filed On: 30-01-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KAILASH GAIKWAD
• Assessee Lawyers: VARSHA BHATTER
• Keywords: Tax effect

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH SMC, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER . 745 / / 20 20 (. . 2014-15 ) ITA NO.745/MUM/2020 (A.Y.2014-15) . 746 / / 20 20 (. . 2013-14 ) ITA NO.746/MUM/2020 (A.Y.2013-14) ACIT, CC-1(3), 905, 9TH FLOOR, PRATISHTHA BHAVAN, OLD C.G.O. BUILDING, (ANNEXE), M.K. ROAD, MUMBAI-400020. ...... / APPELLANT VS. M/S YESH POONAM DEVELOPERS, 66B, 3 RD FLOOR, PODDAR CHAMBERS, 22E SAYED ABDULLA BARELVI ROAD, FORT, MUMBAI-400001. PAN: AAAFY8687K ..... / RESPONDENT / DEPARTMENT BY : SH. KAILASH GAIKWAD / ASSESSEE BY : MS. VARSHA BHATTER / DATE OF HEARING : 23/08/2021 / DATE OF PRONOUNCEMENT : 23/08/2021 / ORDER PER VIKAS AWASTHY, J.M: THESE TWO APPEALS HAVE BEEN FILED BY THE REVENUE AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS)-47 MUMBAI [HEREINAFTER REFERRED TO AS 2 . 745 & 746 / /20 20 (. .2014-15 & 2013-14 ) ITA NO.745 & 746/MUM/2020 (A.Y. 2014-15 & 2013-14) THE CIT(A)] DATED 08.11.2019 COMMON FOR THE ASSESSMENT YEARS (AY) 2013-14. & 2014-15. 2. MS. VARSHA BHATTER APPEARING ON BEHALF OF THE ASSESSEE SUBMITTED AT THE OUTSET THAT THESE APPEALS BY THE REVENUE ARE LIABLE TO BE DISMISSED ON ACCOUNT OF LOW TAX EFFECT IN THE LIGHT OF CBDT CIRCULAR NO. 17/2019 DATED 08.08.2019. THE LD. AR POINTED THAT TAX EFFECT INVOLVED IN APPEAL FOR A.Y. 2014-15 AS PER FORM-36 IS RS. 4,37,854/- AND FOR A.Y. 2013-14 IS RS. 31,97,204/-. 3. SH. KAILASH GAIKWAD REPRESENTING THE DEPARTMENT FAIRLY ADMITTED THAT AS PER FORM-36, THE TAX EFFECT INVOLVED IN APPEALS BY THE REVENUE IS BELOW THE THRESHOLD LIMIT FOR FILING OF THE APPEALS BY THE REVENUE BEFORE THE TRIBUNAL. 4. BOTH SIDES HEARD. THE TAX EFFECT INVOLVED IN APPEAL FOR A.Y. 2014-15 IS RS. 4,37,854/- AND FOR A.Y. 2013-14 IS RS. 31,97,204/- I.E. FAR BELOW THE MONETARY LIMIT SPECIFIED BY THE CBDT VIDE CIRCULAR NO.17/2019 (SUPRA) FOR FILING OF APPEALS BY THE REVENUE BEFORE THE TRIBUNAL. THUS, WITHOUT GOING INTO MERITS OF THE ISSUE RAISED IN APPEALS, THE PRESENT APPEALS BY REVENUE ARE DISMISSED ON ACCOUNT OF LOW TAX EFFECT. 5. LIBERTY IS GRANTED TO THE REVENUE FOR REVIVAL OF APPEAL(S), WITH THE REQUISITE MATERIAL TO SHOW THAT THE APPEAL(S) ARE PROTECTED BY THE EXCEPTIONS SPECIFIED IN PARA 10 OF THE CIRCULAR DATED 11-07-2018 AND ITS AMENDMENT DATED 20/08/2018. 3 . 745 & 746 / /20 20 (. .2014-15 & 2013-14 ) ITA NO.745 & 746/MUM/2020 (A.Y. 2014-15 & 2013-14) 6. IN THE RESULT, BOTH APPEALS BY THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON MONDAY , THE 23 RD DAY OF AUGUST, 2021. SD/- SD/- (MANOJ KUMAR AGGARWAL) (VIKAS AWASTHY) / ACCOUNTANT MEMBER / JUDICIAL MEMBER / MUMBAI, / DATED: 23/08/2021 SK, PS 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) ITAT, MUMBAI