ACIT CEN CIR 40, MUMBAI V. N.H. SECURITIES LTD, MUMBAI

ITA 775/MUM/2012

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 5549 (ITAT-MUMBAI)
• Duration Of Justice: 6 year(s) 5 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2007-2008
• Appeal Filed On: 03-02-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR P DANIAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH B, MUMBAI BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA NOS.775 & 2281/M/2012 ASSESSMENT YEARS: 2007-08 & 2008-09 ACIT 2(1)(2), CC-40, ROOM NO.653, 6 TH FLOOR, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI - 400020 VS. M/S. N.H. SECURITIES LTD., BHUPEN CHAMBERS, GROUND FLOOR, 9 DALAL STREET, FORT, MUMBAI - 23 PAN: AAACE 0308A (APPELLANT) (RE SPONDENT) PRESENT FOR: ASSESSEE BY : SHRI POOJAN MEHTA, A.R. REVENUE BY : DR. P. DANIAL, D.R. DATE OF HEARING : 24.07.2018 DATE OF PRONOUNCEMENT : 24.07.2018 O R D E R PER RAJESH KUMAR, ACCOUNTANT MEMBER: THE ABOVE TITLED APPEALS HAVE BEEN PREFERRED BY TH E REVENUE AGAINST THE ORDER DATED 02.11.2011 & 09.01.201 2 OF THE COMMISSIONER OF INCOME TAX (APPEALS) [HEREINAFT ER REFERRED TO AS THE CIT(A)] RELEVANT TO ASSESSMENT Y EARS 2007- 08 & 2008-09 RESPECTIVELY. 2. AT THE OUTSET, THE LD. A.R. HAS SUBMITTED THAT TA X EFFECT INVOLVED IN THESE APPEALS IS LESS THAN RS.20 LACS A ND THE CBDT CIRCULAR NO.3/2018 (F.NO.279/MISC.142/2007-ITJ (PT).] DATED 11.07.2018 IS APPLICABLE TO THESE APPEALS, HENCE, THES E ITA NOS.775 & 2281/M/2012 M/S. N.H. SECURITIES LTD., 2 APPEALS BE DISMISSED IN TERMS OF CIRCULAR NO.3/2018 (F.NO.279/MISC.142/2007-ITJ (PT).] DATED 11.07.2018. 3. AFTER HEARING BOTH THE PARTIES AND PERUSING THE MATERIAL ON RECORD, WE FIND THAT THE TAX EFFECT IN THESE APPE ALS DOES NOT EXCEED RS.20 LAKHS AND THEREFORE THE APPEALS HAV E TO BE DISMISSED IN TERMS OF CIRCULAR NO.3/2018 (F.NO.279/MISC.142/2007-ITJ (PT).] DATED 11.07.2018. WE , THEREFORE, FOLLOWING THE CIRCULAR ISSUED BY THE CBD T, DISMISS THE APPEALS FILED BY THE REVENUE. ORDER PRONOUNCED IN THE OPEN COURT ON 24.07.2018. SD/- SD/- (JOGINDER SINGH) (RAJESH KUMAR) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED: 24.07.2018. * KISHORE, SR. P.S. COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI THE DR CONCERNED BENCH //TRUE COPY// [ BY ORD ER DY /ASSTT. REGISTRAR, ITAT, MUMBAI.