ITO 12(1)(3), MUMBAI V. BHADRASEN V. THAKKAR, MUMBAI

ITA 7654/MUM/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4077 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 1 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2007-2008
• Appeal Filed On: 30-12-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SACHCHIDANAND DUBE
• Assessee Lawyers: DINESH R SHA HAR
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL,MUMBA I BENCH B, MUMBAI BEFORE SHRI B.R.BASKARAN, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA NO.7654/MUM/2013 ASSESSMENT YEAR: 2007-08 ITO-12(1)(3), ROOM NO. 116, 1 ST FLOOR, AAYAKAR BHAVAN, MUMBAI-400020 VS. MR. BHADRASEN V. THAKKAR 160, 1 ST FLOOR, ESPLANADE BUILDING, OFFICE NO.4, D.N.ROAD, C.S.T. MUMBAI-400001. PAN: AAEPT2366G (APPELLANT) (RESPONDENT) C.O. NO.32/MUM/2015 (ARISING OUT OF ITA NO. 7654/MU M/2013 ASSESSMENT YEAR: 2007-08 MR. BHADRASEN V. THAKKAR 160, 1 ST FLOOR, ESPLANADE BUILDING, OFFICE NO.4, D.N.ROAD, C.S.T. MUMBAI-400001. PAN: AAEPT2366G VS. ITO-12(1)(3), ROOM NO. 116, 1 ST FLOOR, AAYAKAR BHAVAN, MUMBAI-400020 (APPELLANT) (RESPONDENT) REVENUE BY : SHRI SACHCHIDANAND DUBE (DR) ASSESSEE BY : SHRI DINESH R. SHA H(AR) DATE OF HEARING : 01.02.2016 DATE OF PRONOUNCEMENT : 03.02.2016 O R D E R PER PAWAN SINGH, JM: 1. THE PRESENT APPEAL IS FILED BY THE REVENUE CHALLENG ING THE ORDER OF CIT(A)-10, MUMBAI DATED 28.08.2013 IN RESPECT OF ASSESSMENT YEAR (AY) 2007-08 AND THE ASSESSEE FILED CROSS OBJECTION (C.O.). 2 ITA NO. 7654/M/2013 MR. BHADRASEN V. THAKKAR 2. AT THE START OF HEARING OF THE APPEAL, THE ASSESSEE BROUGHT TO OUR NOTICE TAX EFFECT IN THE PRESENT APPEAL IS BELOW TO RS. 10,00,000/- AND THE REVENUE IS PRECLUDED FOR PURSUING THE PRESENT APPEAL BY VIRTUE OF CIRCULAR NO. 21/201 5(F.NO.142/2007-ITJ (PT.) DATED 10 TH DECEMBER, 2015 RESTRICTING THE MONETARY LIMIT OF RE VENUE FOR FILING APPEAL BEFORE VARIOUS FORUM OF LAW, WHEREIN THE MONETARY LIMIT FO R ABOUT THE TAX EFFECT FOR FILING APPEAL BEFORE THE ITAT MUST BE BELOW OF RS. 10,00,0 00/-. 3. LD. AUTHORISED REPRESENTATIVE (AR) OF THE ASSESSEE HAS FILED THE CALCULATION OF TAX EFFECT, WHICH WAS SHOWN TO THE LD. DEPARTMENTAL REP RESENTATIVE (DR) FOR THE REVENUE AND LD. D R OF THE REVENUE FAIRLY ACCEPTED THAT TAX EFFECT IS BELOW TO RS. 10,00,000/-. IN VIEW OF THE ABOVE CIRCUMSTANCES, THE APPEAL FILED B Y THE REVENUE IS DISMISSED. 4. THE AR OF THE ASSESSEE MADE THE STATEMENT THAT THE ASSESSEE IS NOT PRESSING THE C.O.FILED BY HIM IN VIEW OF THE FACT THAT THE APPEAL FILED BY THE REVENUE HAS BEEN DISMISSED, HENCE, THE C.O. FILED BY THE ASSESSEE IS ALSO DISMI SSED AS WITHDRAWN. 5. IN THE RESULT, APPEAL FILED BY THE REVENUE AS WELL AS C.O. FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 3 RD FEBRUARY, 2016. SD/- SD/- ( B.R.BASKARAN ) (PAWAN SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI; DATED 03/02/2016 S.K.PS / COPY OF THE ORDER FORWARDED TO : / BY ORDER, / (ASSTT.REGISTRAR) , / ITAT, MUMBAI 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A), MUMBAI. 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. !'# / GUARD FILE. $ //TRUE COPY/