ITO 12(2)(1), MUMBAI V. DHWAJA SECURITIES & SERVICES P.LTD, MUMBAI

ITA 7750/MUM/2014

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 2039 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 10 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-11-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2007-2008
• Appeal Filed On: 30-12-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B S BIST
• Assessee Lawyers: RAJESH S KOTHARI
• Keywords: Tax effect

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH , JM AND SHRI RAJESH KUMAR, AM ./ I .T.A. NO. 7750 /MUM/201 4 ( / ASSESSMENT YEAR : 200 7 - 08 ) THE INCOME TAX OFFICER 12(2)(1) , ROOM NO.224, 2 ND FLOOR, AAYAKAR BHAVAN, M K ROAD, MUMBAI - 4000 20 / VS. M/S DHWAJA SECURITIES AND SERVICES PVT.LTD, 103, LAXMI VILLA, OPP. KALA HANUMAN MANDIR M G ROAD, KANDIVALI (W), MUMBAI - 400067. ./ PAN : AACCD1313L / REVENUE BY SHRI B S BIST / ASSESSEE BY SHRI RAJESH S KOTHARI / DATE OF HEARING : 2.11. 2016 / DATE OF PRONOUNCEMENT : 2.11. 2016 / O R D E R PER RAJESH KUMAR , A M THE APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 31.3.2014 , PASSED BY THE CIT(A) - 1 9 , MUMBAI, FOR THE ASSESSMENT YEAR 200 7 - 08 . 2. AT THE OUTSET, WE HAVE NOTICED THAT THE TAX EFFECT IN TH E APPEAL OF THE REVENUE IS BELOW RS.10 LAKHS, THEREFORE, THE SAME IS NOT MAINTAINABLE AS PER THE CBDT CIRCULAR NO.21/2015, DATED 10TH DECEMBER, 2015. WE FOUND THAT AS PER THE RECENT CIRCULAR NO.21/2015, DATED 10TH DECEMBER, 2015, ISSUED BY THE CBDT, THE MO NETARY LIMIT HAS BEEN REVISED FOR FILING OF APPEAL BEFORE 2 ITA NO. 7750 / MUM/ 201 4 ITAT BY THE REVENUE FIXING THE TAX EFFECT LIMIT OF RS.10 LAKHS. IN THE INSTANT CASE, THE TAX EFFECT IS BELOW RS.10 LAKHS, THEREFORE THE SAME IS NOT MAINTAINABLE AND LIABLE TO BE DISMISSED IN LIMINE. THIS CIRCULAR IS RETROSPECTIVE AND APPLICABLE TO THE PENDING APPEALS ALSO. 3. CONSIDERING THE ABOVE CBDT CIRCULAR, WE FOUND THAT THIS APPEAL OF THE REVENUE IS NOT MAINTAINABLE AS THE TAX EFFECT IN THIS APPEAL IS BELOW RS.10 LAKHS. ACCORDINGLY, WE DISMISS THE APPEAL OF THE REVENUE. 4. IN THE RESULT, APPEAL OF REVENUE IS DISMISSED. ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 2.11. 2016. S D SD ( MAHAVIR SINGH ) ( RAJESH KUMAR ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 2.11 . 2016 SR.PS:SRL: / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT CONCERNED 5. , , / DR, ITAT, MUMBAI 6. / GUARD F ILE / BY ORDER, T RUE COPY / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI