DCIT CC 39, MUMBAI V. GERMAN EXPRESS SHIPPING AGENCY (I) P. LTD, MUMBAI

ITA 8036/MUM/2011

• Counselvise Citation: [2015] 121 COUNSELVISE.COM (IT) 0785 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 6 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-06-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 04-06-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 30-11-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES G, MUMBAI , ! ..'(),*!,+ BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, AND SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER ITA NO.8036/MUM/2011 ASSESSMENT YEAR: 2008-09 JCIT(O.S.D.), CENTRAL CIRCLE-39, ROOM NO.32(1), GROUND FLOOR, AAYAKAR BHAVAN, M.K.ROAD, MUMBAI-400020 / VS. M/S GERMAN EXPRESS SHIPPING AGENCY (I) PVT. LTD. SPAT BUILDING, 3 RD FLOOR, 18, J.N. HARDIA MARG, BALLARD ESTATE, MUMBAI-400001 / REVENUE / ASSESSEE P.A. NO. AABCG0117C ,- / ASSESSEE BY SHRI M.M. GOLVALA ,- / REVENUE BY MS. AMRITA SINGH / DATE OF HEARING 04/06/2015 / DATE OF ORDER: 22/06/2015 / O R D E R PER JOGINDER SINGH (JUDICIAL MEMBER) THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DAT ED 15/09/2011 OF THE LD. FIRST APPELLATE AUTHORITY, MU MBAI, ON THE GROUNDS WITH RESPECT TO ALLOWING LONG TERM CAPI TAL LOSS ITA NO.8036/MUM/2011 M/S GERMAN EXPRESS SHIPPING AGENCY (I) PVT. LTD , 2 TO BE CARRIED FORWARD WHEN THE RETURN OF INCOME DET ERMINING LOSS WAS NOT FILED WITHIN THE PRESCRIBE TIME. 2. DURING HEARING OF THIS APPEAL, THE LD. COUNSEL FOR THE ASSESSEE, AT THE OUTSET, CLAIMED THAT THE APPEA L OF THE REVENUE IS NOT MAINTAINABLE AS THE TAX EFFECT IS BE LOW PRESCRIBED MONETARY LIMIT. THE ASSESSEE ALSO FILED CALCULATION OF TAX EFFECT TO THE TUNE OF RS.3,59,30 5/-. THIS CLAIM OF THE ASSESSEE WAS NOT CONTROVERTED BY THE L D. DR. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND P ERUSED THE MATERIAL AVAILABLE ON RECORD. IN VIEW OF THE F ACT THAT THE TAX EFFECT IN THE APPEAL IS BELOW PRESCRIBED MONETA RY LIMIT AS CONTAINED IN CBDT INSTRUCTION NO.3/2011 DATED 09/02/2011, FURTHER INSTRUCTION NO.5/2014 (F NO.279/MISC./142/2007-IT(PT) DATED 10/07/2014. THE CBDT REVISED THE MONETARY LIMIT FOR FILING THE APPE AL BEFORE VARIOUS AUTHORITIES/COURTS AND ADVISED/DIRECTED THE DEPARTMENT NOT TO FILE APPEAL IN THE CASES WHERE TH E TAX EFFECT DOES NOT EXCEED THE FOLLOWING MONETARY LIMIT S, THE APPEALS OF THE REVENUE IS NOT MAINTAINABLE. THE RE VISED MONETARY LIMIT IS AS UNDER:- SL. NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS.) 1. BEFORE APPELLATE TRIBUNAL 4,00,000/ - 2. U/S 260 A BEFORE HIGH COUR T 10,00,000/ - 3. BEFORE SUPREME COURT 25,00,000/ - AS PER THE AFORESAID INSTRUCTION, THE DEPARTMENT IS NOT TO FILE APPEAL BEFORE THE TRIBUNAL, WHEREIN THE TAX EFFECT IS ITA NO.8036/MUM/2011 M/S GERMAN EXPRESS SHIPPING AGENCY (I) PVT. LTD , 3 LESS THAN RS.4,00,000/-, CONSEQUENTLY, CONSIDERING THE DECISION FROM THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF PITHWA ENGINEERING WORKS (276 ITR 519) (BOM ) , THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE. THEREFO RE, IN VIEW OF THE ABOVE, THE APPEAL OF THE REVENUE IS DIS MISSED AS NOT MAINTAINABLE. FINALLY THE APPEAL OF THE REVENUE IS DISMISSED. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN T HE PRESENCE OF LEARNED REPRESENTATIVES FROM BOTH THE S IDES AT THE CONCLUSION OF THE HEARING ON 04 TH JUNE 2015. SD/- SD/- MUMBAI; DATED : 22/06/2015 F{X~{T? P.S / ,0 123241 / COPY OF THE ORDER FORWARDED TO : 1. ! / THE APPELLANT 2. '#$ ! / THE RESPONDENT. 3. %$ %$ & ( ) / THE CIT, MUMBAI. 4. %$ %$ & / CIT(A)- , MUMBAI 5. )*+$ ' , %$ $ - , / DR, ITAT, MUMBAI 6. +. / / GUARD FILE. / BY ORDER, #$) ' //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI ( N.K. BILLAIYA ) (JOGINDER SINGH) *! / ACCOUNTANT MEMBER ! / JUDICIAL MEMBER