ITO 7(3)3, MUMBAI V. TWINCITY GLASS P. LTD, MUMBAI

ITA 7852/MUM/2011

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4319 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 1 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 10-11-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 21-11-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B S N RAJU
• Assessee Lawyers: RAHUL BAIRAGRA
• Keywords: Tax effect; Revenue expenditure

Judgement Text

1 1 , INCOME TAX APPELLATE TRIBUNAL,MUMBAI E BENCH , ,, , , ,, , BEFORE S/SH. RAJENDRA,ACCOUNTANT MEMBE R & SANJAY GARG,JUDICIAL MEMBER /.ITA NO.7852/M/2011, /ASSESSMENT YEAR-2007-08 ITO 7(3)(3) ROOM NO.617, AAYAKAR BHAVAN M.K. ROAD MUMBAI-400 020. VS TWINCITY GLASS PVT.LTD. 7, 2 ND FLOOR, READY MONEY TERRACE, 167, DR. A.B. ROAD, WORLI,MUMBAI-400 018. PAN:AAACT 0221 A ( / APPELLANT) ( / RESPONDENT) /ASSESSEE BY : SH.RAHUL BAIRAGRA -AR / REVENUE BY : SH.B S N RAJU -DR / DATE OF HEARING : 10-11 -2015 / DATE OF PRONOUNCEMENT : 01.01.2016 , 1961 1961 1961 1961 254 254 254 254( (( (1 11 1) )) ) ORDER U/S.254(1)OF THE INCOME-TAX ACT,1961(ACT) !# $% PER RAJENDRA, AM - CHALLENGING THE ORDER DT.20.09.2011 OF THE CIT(A)-1 8,MUMBAI THE ASSESSING OFFICER(AO)HAS FILED FOLLOWING GROUNDS OF APPEALS: 1.WHETHER ON THE FACTS AND CIRCUMSTANCES OF THE CA SE AND IN LAW, THE LD. CIT(A) HAS ERRED IN TREATMENT OF RS.7,39,075/- AS REVENUE EXPENDITURE I GNORING THE FACT THAT THE EXPENDITURE INCURRED WOULD GIVE THE ASSESSEE BENEFITS OF ENDURING NATURE . 2. THE APPELLANT PRAYS THAT THE ORDER OF THE LD. CI T(A) BE SET ASIDE AND THE ORDER OF THE AO BE RESTORED. 3. THE APPELLANT CRAVES LEAVE TO AMEND OR ALTER ANY GROUND OR ADD ANY OTHER GROUNDS WHICH MAY BE NECESSARY. DURING THE COURSE OF HEARING,THE AUTHORISED REPRESE NTATIVE(AR)STATED THAT THE TAX EFFECT INVOLVED IN THE CASE WAS LESS THAN RS.3 LAKHS,THAT THE APPEAL WAS NOT MAINTAINABLE IN LIGHT OF THE CBDT CIRCULAR DATED 09.02.2011.THE DEPARTMENTAL REP RESETATIVE(DR)FAIRLY CONCEDED THAT THE TAX EFFECT IN THE CASE BEFORE WAS BELOW THE MONETAR Y LIMIT PRESCRIBED BY THE BOARD. CONSIDERING THE ABOVE FACTS,WE DISMISS THE APPEAL FILED BY THE AO BECAUSE OF THE LOW TAX EFFECT. AS A RESULT, APPEAL FILED BY THE AO STANDS DISM ISSED. ! '# . ORDE R PRONOUNCED IN THE OPEN COURT ON 1 ST JANUARY, 2016. 1 2016 SD/- SD/- ( /SANJAY GARG) ( ) / RAJENDRA) *+ , / JUDICIAL MEMBER !# / ACCOUNTANT MEMBER /MUMBAI, /DATE: 01.01.2016 . . . .. . JV.SR.PS. ITA 7852/M/11(07-08) 2 & ' / COPY OF THE ORDER FORWARDED TO : 1. APPELLANT / 2. RESPONDENT / 3. THE CONCERNED CIT(A)/ %.0 -2 , 4. THE CONCERNED CIT / %.0 -2 5. DR E BENCH, ITAT, MUMBAI / , , . . * . 6. GUARD FILE/ ' //TRUE COPY// / BY ORDER, / DY./ASST. REGISTRAR , /ITAT, MUMBAI.