ITO 25(1)(2), MUMBAI V. SAVITA C. YADAV, MUMBAI

ITA 8086/MUM/2010

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 92345 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 4 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-04-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 20-04-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 23-11-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: BEHARILAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES E BEFORE SHRI B.R. BASKARAN, AM AND SHRI AMIT SHUKLA, JM ITA NO. 8086/MUM/2010 ASSESSMENT YEAR 2007-08, CIT 25(1)(2), 204, C-11 PRATYAKSHA KAR BHAVAN, B.K.C. BANDRA (E) MUMBAI 400051 VS. SMT. SAVITA C. YADAV, 402, ANAND HERITAGE, ANAND PARK, OPP LINK ROAD, I.C. COLONY, KANDARPADA, DAHISAR (E) MUMBAI -400 068 APPLICANT RESPONDENT REVENUE BY SHRI LOVE KUMAR(DR) RESPONDENT BY SHRI. BEHARILAL (AR) DATE OF HEARING : 20-04 -2015 DATE OF PRONOUNCEMENT : 20 -04-2015 ORDER PER AMIT SHUKLA, J.M. THE AFORESAID APPEAL HAS BEEN FILED BY THE REVENUE AGAINST ORDER DATED 13 TH SEPTEMBER 2010, PASSED BY THE LEARNED COMMISSIONER (APPEALS)35, MUMBAI, FOR THE QUANTUM OF ASSESSMENT PASSED UNDER SECTION 143(3), FOR THE ASSESSMENT YEAR 2 007-08, ON THE FOLLOWING GROUNDS OF APPEAL: ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) HAS ERRED IN RESTRICTING THE ADDITION U/S.68 TO RS. 21,15,000/- WITHOUT APPRECIATING THE FACT THAT THE ASSESSEE HERSELF DIS CLOSED THE TOTAL CASH RECEIPTS OF RS.31.59 LAKHS IN THE RETURN OF INCOME. 2 ITA NO.8086 /MUM/2010 2. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS AND IN LAW, THE LD. CIT(A) HAS ERRED IN RESTRICTING THE ADDITION U/S.68 TO RS. 21,15,000/- WITHOUT APPRECIATING THE FACT THAT THE ASSESSEE DID NOT CAR RY OUT ANY BUSINESS ACTIVITY DURING THE YEAR AND TRUCK HIRING BUSINESS WAS SHOWN ONLY TO COVER UP CASH DEPOSITS. 2. AT THE OUTSET, THE LEARNED COUNSEL SUBMITTED THA T THE DISPUTED ADDITION IS APPROXIMATELY RS.10.44 LAKHS, THEREFORE T AX-EFFECT IS LESS THAN RS.4 LAKHS, NOW AS PER THE NEW INSTRUCTION ISSU ED BY THE CBDT ON 10.07.2004 THE TAX EFFECT FOR FILING OF APPEAL BEFOR E TRIBUNAL IS LESS THAN 4 LAKHS. ACCORDINGLY, THE DEPARTMENTAL APPEAL IS NOT MAINTAINABLE. THE LD. DR ALSO ACCEPTED THAT THE DIS PUTED DEMAND IS LESS THAN RS.4 LAKHS. 3. AFTER HEARING BOTH THE PARTIES, WE FIND THAT THE TA X EFFECT ON THE DISPUTED ISSUE IS LESS THAN 4 LAKHS AND ACCORDINGLY , IN VIEW OF CBDT INSTRUCTION NO.5 DATED 10.07.2014, THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE AS THE MONITORY LIMIT FOR FILING OF THE APPEAL BEFORE THE TRIBUNAL HAS BEEN FIXED AT RS.4 LAKHS. IN THE JURISDI CTION OF HONBLE BOMBAY HIGH COURT, CBDT IT HAS BEEN A CONSISTENT VIEW THAT INSTRUCTION PRESCRIBING MONITORY LIMIT IS APPLICABLE I N THE PENDING CASES ALSO. THUS, IN VIEW OF THE AFORESAID ADMITTED POSITI ON THAT THE TAX EFFECT IS LESS THAN RS.4 LAKHS, THE APPEAL OF THE R EVENUE IS DISMISSED AS NOT MAINTAINABLE. THIS PROPOSITION HAS BEEN REITERATE D BY THE HONBLE 3 ITA NO.8086 /MUM/2010 BOMBAY HIGH COURT IN THE CASE OF CIT VS. MADHUKAR K. JNOMDAR 318 ITR 149 AND IN THE CASE OF CIT VS. VARSHA DILIP KOH LI REPORTED 350 ITR 354 (BOM), THAT THE CBDT CIRCULAR PRESCRIBING MONITORY LIMIT FOR FILING OF APPEAL, WILL APPLY TO THE PENDING APPEAL ALSO. A CCORDINGLY, APPEAL OF THE REVENUE IS DISMISSED. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 20 TH APRIL 2015. SD/- SD/- (B.R. BASKARAN) (AMIT SHUKLA) ACCOUNTANT MEMBER JUDICIAL MEMBER [ MUMBAI, DATED 20 -04-2015. PATEL COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) CONCERNED, MUMBAI 4. THE CIT- CONCERNED, MUMBAI 5. THE DR BENCH, D 6. MASTER FILE [[[[[[ // TUE COPY// BY ORDER DY/ASSTT. REGISTRAR ITAT, MUMBAI