ITO 24(3)(4), MUMBAI V. BLUEPLAST UTILITY PRODUCTS, MUMBAI

ITA 7628/MUM/2010

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4209 (ITAT-MUMBAI)
• Duration Of Justice: 5 year(s) 3 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 24-06-2015
• Assessment Year: 2003-2004
• Appeal Filed On: 04-11-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PRAKASH L PATHADE
• Assessee Lawyers: M N VAISHAV
• Keywords: Tax effect
• Section: 80IB

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE S/SHRI B.R.BASKARAN, AM AND PAWAN SINGH, JM ./ I.T.A. NO . 7628 / MUM/ 201 0 ( / ASSESSMENT YEA R : 20 0 3 - 04 ) INCOME TAX O FFICER - 24(3)(4), ROOM NO.706, C - 11, 7 TH FLOOR, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051 / VS. M/S BLUEPLAST UTILITY PRODUCTS, 133, VIVEK INDUSTRIAL ESTATE, NR.LOTELIA CAMA ESTATE, GOREGAON (E), MUMBAI - 400063 ( / APPELLANT ) .. ( / RESPONDENT ) ./ ./PAN. : AADFB0383N / A PPELLANT BY SHRI PRAKASH L PATHADE / R ESPONDENT BY SHRI M N VAISHAV / DATE OF HEARING : 9 . 1 2 . 20 1 5 / DATE OF PRONOUNCEMENT: 9 . 2 . 201 6 / O R D E R P ER B R BASKARAN, AM : THE REVENUE HAS FILED THIS A PPEAL . THERE IS A CONFUSION AS TO WHETHER THE APPEAL HAS BEEN FILED IN THE QUANTUM ASSESSMENT PROCEEDINGS OR IN T HE PENALTY APPEAL PROCEEDINGS. WE NOTICE THAT THE DISPUTE INVOLVED IN QUANTUM APPEAL RELATES TO THE DEDUCTION OF RS.15.04 LAKHS CLAIMED BY THE ASSESSEE U/S 80IB OF THE ACT. THE LD. CIT(A) HAD ALLOWED THE SAID CLAIM. THE P ENALTY OF RS.5,89,528/ - LEVIED BY THE AO U/S 271(1)(C) OF THE ACT HAS BEEN DELETED BY THE LD.CIT(A) . HENCE THE REVENUE MIGHT BE AGGRIEVED BY THE ORDER (S) PASSED BY LD CIT(A) BOTH IN QUANTUM ASSESSMENT PROCEEDINGS AS WELL AS THE PENALTY PROCEEDINGS. I.T.A. NO. 7628 / MUM/ 201 0 2 2. HOWEVER WE NOTICE THAT THE TAX EFFECT INVOLVED IN THE RELIEF GRANTED BY LD CIT(A) BOTH UNDER QUANTUM ASSESSMENT PROCEEDINGS AS WELL AS PENALTY PROCEEDINGS DOES NOT EXCEED RS.10 LAKHS. HENCE, IN VIEW OF THE CIRCULAR ISSUED BY CBDT BEARING NO.21/2015 DATED 10.12.2015 , THE REVENUE IS PRECLUDED FROM PURSUING TH E APPEAL BEFORE THE TRIBUNAL, WHEN THE TAX EFFECT INVOLVED THEREIN IS LESS THAN RS.10 LAKHS. ACCORDINGLY , THE IMPUGNED APPEAL IS LIABLE TO BE DISMISSED IN LIMINE , WHICH EVER MAY BE THE CASE, IN VIEW OF THE LOW TAX EFFECT. WE ORDER ACCORDINGLY. 3 . IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. PRONOUNCED ACCORDINGLY ON 9TH FEB , 2 01 6 . 9TH FEB 2 01 6 SD SD ( PAWAN SINGH ) ( B.R. BASKARAN) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI: 9TH FEB , 2 01 6 . . . ./ SRL , SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - CONCERNED 4. / CIT CONCERNED 5. , , / DR, ITAT, MUMBAI CONCERNED 6. / GUARD FILE. / BY ORDER, TRUE COPY (ASSTT. REGISTRAR) , /ITAT, MUMBAI