ASSISTANT COMMISSIONER OF INCOME TAX 23(1), MUMBAI V. H. K. SAIGAL & OTHERS, MUMBAI

ITA 783/MUM/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 8475 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 1 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-04-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2012-2013
• Appeal Filed On: 08-02-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: BHUPENDRA SINGH
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL H BENCH, MUMBAI BEFORE S/ SHRI SHAMIM YAHYA (AM) & AMARJIT SINGH (JM) I.T.A. NO. 783 /MUM/20 1 8 (ASSESSMENT YEAR 20 1 2 - 13 ) A CIT - 23 (1) ROOM NO. 112 MATRU MANDIR 1 ST FLOOR TARDEO ROAD MUMBAI - 400 00 7 . VS. M/S. H.K. SAIGAL & OTHERS 133, GAZEBO HOUSE HILL ROAD BANDRA (WEST) MUMBAI - 400 050. PAN : AAFFH4775C ( APPELLANT ) ( RESPONDENT ) ASSESSEE BY SHRI BHUPENDRA SINGH DEPARTMENT BY SHRI MANOJ KUMAR SINGH DATE OF HEARING 1 . 4 . 201 9 DATE OF PRONOUNCEMENT 2 . 4 . 201 9 O R D E R PER SHAMIM YAHYA (AM) : - THE APPEAL FILED BY THE REVENUE IS DIRE CTED AGAINST THE ORDER DATED 6.10 .2017 PASSED BY THE LEARNED CIT(A) - 32 , MU MBAI AND IT RELATES TO A.Y. 2012 - 13 . THE REVENUE IS AGGRIEVED BY THE DECISION OF THE LEARNED C IT(A) IN DELETING THE DISALLOWANCE OF INTEREST EXPENSES AMOUNTING TO RS 62,47,675 / - . 2. AT THE TIME OF HEARING, LEARNED COUNSEL APPEARING FOR THE ASSESSEE SUBMITTED THAT THE TAX EFFECT INVOLVED IN THE QUANTUM UNDER DISPUTE IS LESS THAN RS . 20 .00 LAKHS AND HENCE THE REVENUE IS PRECLUDED FROM PURSUING THIS APPEAL AS PER CIRCULAR NO.3/2018 DATED 11.07.2018 ISSUED BY CBDT. 3. WE HEARD LEARNED DR AND PERUSED THE RECORD. HAVING REGARD TO THE FACT THAT THE QUAN TUM IN DISPUTE IS RS 62,47,675/ - AN D HENCE TAX EFFECT INVOLVED THEREIN IS LESS THAN RS 20 LAKHS, THERE IS MERIT IN THE CONTENTION OF THE ASSESSEE THAT THE REVENUE IS PRECLUDED FROM PURSUING THIS APPEAL AS PER THE CIRCULAR OF CBDT REFERRED ABOVE . IT I S ALSO NOT SHOWN TO US THAT THE ISSUE 2 CONTESTED IN THIS APP EAL FALLS UNDER THE EXCEPTION S LISTED OUT IN THE CIRCULAR. ACCORDINGLY, WE DISMISS THE APPEAL IN LIMINE AS UNADMITTED. 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER HAS BE E N PRONOUNCED IN THE COURT ON 2 . 4 .201 9 . SD/ - SD/ - (AMARJIT SINGH ) ( SHAMIM YAHYA ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 2 / 4 / 20 1 9 COPY OF THE ORDER FORWARDED TO : 1. THE APP ELLANT 2. THE RESPONDENT 3. THE CIT(A) 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// ( SENIOR PRIVATE SECRETARY ) PS ITAT, MUMBAI