ACIT 3(2)(1), MUMBAI V. INDIAN EXPRESS NEWS PAPER ( MUMBAI) LTD, MUMBAI

ITA 807/MUM/2017

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 0800 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 6 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-08-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2009-2010
• Appeal Filed On: 03-02-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Difference of opinion; Tax effect; Change of opinion
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL , C BENCH MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA NO. 807/MUM/2017 FOR ASSESSMENT YEARS: 2009-10 ACIT- 3(2)(1), ROOM NO. 608, 6 TH FLOOR, AAYAKAR BHAWAN, M.K. ROAD, MUMBAI-400020. VS INDIAN EXPRESS NEWS PAPER (MUMBAI) LTD., EXPRESS TOWER, NARIMAN POINT, MUMBAI-400021. PAN : AAACI1255F (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI ASHISH POPHARE (DR) RESPONDENT BY : SHRI V. MOHAN (AR) DATE OF HEARING : 20/08/2019 DATE OF PRONOUNCEMENT: 20/08/2019 ORDER UNDER SECTION 254(1) O F INCOME TAX ACT PER PAWAN SINGH, JUDICIAL MEMBER: 1. THIS APPEAL BY REVENUE UNDER SECTION 253 OF INCOME TAX ACT IS DIRECTED AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-8, [CIT(A)], MUMBAI DATED 21.10.2016, WHICH IN TURN ARISES FROM THE ASSESSMENT ORDER PASSED UNDER SECTION 143(3) RWS 147 DATED 30.03.201 5 FOR ASSESSMENT YEAR 2009-10. 2. AT THE OUTSET OF HEARING, THE LD. AUTHORIZED REPRES ENTATIVE (AR) OF THE ASSESSEE SUBMITTED THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS BELOW RS. 50,00,000/- I.E. THE MONETARY LIMIT PRESCRIBED BY CBDT CIRCULAR NO.17/2019 DATED 8 TH AUGUST 2019. THE LD. AR OF THE ASSESSEE FURTHER SUBMITS THAT THE LD. CIT(A) HELD THAT RE-ASSESSMENT WAS A MERE CHANGE OF OPINION AND QUASHED THE RE-ASSESSMENT ORDER DATED 3 0.03.2015, CONSEQUENT UPON A DISALLOWANCE OF BAD-DEBT OF RS. 84,28,476/- ADDED BY ASSESSING ITA NO. 807 MUM 2017-INDIAN EXPRESS NEWS PAPER (MUM BAI) LTD. 2 OFFICER WAS DELETED. THE LD. AR OF THE ASSESSEE FUR THER SUBMITS THAT ADMITTEDLY THE TAX EFFECT INVOLVED IN THE PRESENT A PPEAL IS LESS THAN RS. 50,00,000/-. THEREFORE, THE PRESENT APPEAL IS SQUAR ELY COVERED BY THE CBDT CIRCULAR NO. 17/2019 DATED 8 TH AUGUST 2019. 3. ON THE OTHER HAND, THE LD. DEPARTMENTAL REPRESENTAT IVE (DR) FOR THE REVENUE AFTER GOING THROUGH THE GROUNDS OF APPEAL SUBMITTED THAT THOUGH THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS LESS THAN THE MON ETARY LIMIT OF TAX EFFECT FIXED BY CBDT IN A RECENT CIRCULAR, HOWEVER, THE RE VENUE MAY BE GIVEN LIBERTY TO GET THE APPEAL REVIVED IN CASE AT THE LA TER STAGE IT IS DISCOVERED THAT THE GROUND OF APPEAL IS COVERED BY ANY EXCEPTION CL AUSE OF CBDT CIRCULAR NO. 3/2018 DATED 11 TH JULY 2018. 4. CONSIDERING THE SUBMISSIONS OF BOTH THE LD. REPRESE NTATIVES OF THE PARTIES, WE FIND THAT TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS LESS THAN THE MONETARY LIMIT OF RS. 50,00,000/- FIXED BY CBDT CIRCULAR NO. 17/2019 DATED 8 TH AUGUST 2019, THEREFORE, THE APPEAL OF REVENUE IS DI SMISSED BEING NOT MAINTAINABLE. HOWEVER, THE REVENUE IS GIVEN LIBERTY TO GET THE APPEAL REVIVED IN CASE, IF IT IS DISCOVERED THAT THE PRESENT APPEA L IS COVERED BY ANY EXCEPTION CLAUSE OF CBDT CIRCULAR NO.3/2018 DATED 11 TH JULY 2018. 5. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT O N THIS 20/08/2019. SD/- SD/- (RAJESH KUMAR (PAWAN SINGH) ACCOUNTANT MEMBER JUDICIAL MEMB ER MUMBAI, DATE: 20.08.2019 ITA NO. 807 MUM 2017-INDIAN EXPRESS NEWS PAPER (MUM BAI) LTD. 3 SK COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT BY ORDER ASSISTANT REGISTRAR IT AT MUMBAI