ITO 14(3)(2), MUMBAI V. AMBALAL K SHAH, MUMBAI

ITA 7534/MUM/2013

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 2022 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 11 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2006-2007
• Appeal Filed On: 24-12-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES A, MUMBAI , , , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, AND SHRI RAM IT KOCHAR, ACCOUNTANT MEMBER ITA NO.7534 TO 7536/MUM/2013 ASSESSMENT YEAR: 2006-07 TO 2008-09 INCOME TAX OFFICER-14(3)-2 6 TH FLOOR, EARNEST HOUSE, NARIMAN POINT, MUMBAI-400021 / VS. SHRI AMBALAL K SHAH, PROP. M/S SHREEPAL COLLECTION, 391, GOVIND GALLI, M.J. MARKET, MUMBAI-400002 ( / REVENUE) ( !'# /ASSESSEE) PAN. NO. AADPS4776Q $ % & ' / DATE OF HEARING : 17/12/2015 & ' / DATE OF ORDER: 17/12/2015 / O R D E R PER JOGINDER SINGH (JUDICIAL MEMBER) ALL THESE THREE APPEALS ARE BY THE REVENUE DIRECTE D AGAINST THE IMPUGNED ORDER ALL DATED 03/10/2013 FOR A.Y. ! / REVENUE BY SHRI MAURYA PRATAP !'# ! / ASSESSEE BY SHRI R.M. JAIN SHRI AMBALAL K SHAH ITA NO.7534 TO 7536/MUM/2013 2 2006-08 TO 2008-09 OF THE LD. FIRST APPELLATE AUTHO RITY, MUMBAI. 2. AT THE OUTSET, THE LD. COUNSEL FOR THE ASSESSEE SHRI R.M. JAIN, CONTENDED THAT THE APPEALS OF THE REVENU E ARE NOT MAINTAINABLE AS THE TAX EFFECT IS BELOW PRESCRIBED MONETARY LIMIT. THIS FACTUAL MATRIX WAS NOT CONTROVERTED BY SHRI MAURYA PRATAP, LD. DR. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. WE NOTE T HAT THE TOTAL INCOME FOR A.Y. 2007-08 IS RS.13,81,550/- AND THE CONSEQUENT TAX EFFECT IS RS.5,21,740/-. LIKEWISE, FOR A.Y. 2006-07, THE TAX EFFECT IS RS.7,03,381/- AND FOR A. Y. 2008-09, THE TAX EFFECT IS RS.,4,34,483/- COMPUTED BY THE AS SESSING OFFICER, AS IS EVIDENT FROM THE RESPECTIVE IMPUGNED ORDERS. THE LD. DR FAIRLY AGREED THAT IN THE RESPECTIVE APPEAL, THE TAX EFFECT IS BELOW THE PRESCRIBED LIMIT OF RS.10 LAKH. 2.2. IN VIEW OF THE FACT THAT THE TAX EFFECT IN T HE RESPECTIVE APPEAL IS BELOW PRESCRIBED MONETARY LIMIT AS CONTAI NED IN CBDT INSTRUCTION NO.3/2011 DATED 09/02/2011, FURTHE R INSTRUCTION NO.5/2014 (F NO.279/MISC./142/2007-IT(P T) DATED 10/07/2014. THE CBDT REVISED THE MONETARY LIM IT FOR FILING THE APPEAL BEFORE VARIOUS AUTHORITIES/COURTS VIDE CBDT CIRCULAR NO.21 OF 2015, DATED 10/12/2015 (F NO.279/MISC./142/2007-IT(PT), WITH RETROSPECTIVE EF FECT AND ADVISED/DIRECTED THE DEPARTMENT NOT TO FILE APPEAL IN THE CASES SHRI AMBALAL K SHAH ITA NO.7534 TO 7536/MUM/2013 3 WHERE THE TAX EFFECT DOES NOT EXCEED THE FOLLOWING MONETARY LIMIT.:- SL. NO. APPEALS IN INCOME TAX MATTERS 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/ - AS PER THE AFORESAID INSTRUCTION/REVISED MONETARY L IMIT, THE DEPARTMENT IS NOT TO FILE APPEAL BEFORE THE TRI BUNAL, WHEREIN THE TAX EFFECT IS LESS THAN RS.10,00,000/-, CONSEQUENTLY, THESE APPEALS OF THE REVENUE ARE NOT MAINTAINABLE. THEREFORE, IN VIEW OF THE ABOVE, THE APPEALS OF THE REVENUE ARE DISMISSED AS NOT MAINTAINABLE. FINALLY, THE APPEALS OF THE REVENUE ARE DISMISSED. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF THE LD. REPRESENTATIVE FROM BOTH SIDES AT THE CONCLUSION OF THE HEARING ON 17/12/2015 SD/- SD/- ( RAMIT KOCHAR ) (JOGINDER SINGH) '!# / ACCOUNTANT MEMBER $!# /JUDICIAL MEMBER $ % MUMBAI; ) DATED : 17/12/2015 F{X~{T? P.S/. . . %$&'()(*& / COPY OF THE ORDER FORWARDED TO : 1. +,-. / THE APPELLANT 2. /0-. / THE RESPONDENT. SHRI AMBALAL K SHAH ITA NO.7534 TO 7536/MUM/2013 4 3. 1 1 $ 2 ( +, ) / THE CIT, MUMBAI. 4. 1 1 $ 2 / CIT(A)- , MUMBAI 5. 45 / ! , 1 +,' +! 6 , $ % / DR, ITAT, MUMBAI 6. 7' 8% / GUARD FILE. ! / BY ORDER, 04, / //TRUE COPY// /! (DY./ASSTT. REGISTRAR) , $ % / ITAT, MUMBAI