ACIT 26(1), MUMBAI V. ANAND M SHETTY, MUMBAI

ITA 874/MUM/2020

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 7408 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-08-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 03-02-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: BRAJENDRA KUMAR
• Keywords: Tax effect
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL , A BENCH MUMBAI BEFORE : SHRI M.BALAGANESH, A CCOUNTANT MEMBER & SHRI AMARJIT SINGH, JUDICIAL MEMBER ITA NO. 874/ MUM/ 20 20 ( ASSESSMENT YEAR : 2010 - 11 ) ACIT - 26(1), MUMBAI ROOM NO.623, 6 TH FLOOR KAU TILYA BHAVAN BANDRA KURLA COMPLEX BANDRA (E), MUMBAI - 400051 VS. SHRI ANAND M SHETTY 1801, ODYSSEY 1 HIRANANDANI GARDENS, POWAI, MUMBAI - 400076 PAN/GIR NO. AAOPS6358R (APPELLANT ) .. (RESPONDENT ) ASSESSEE BY SHRI BRAJENDRA KUMAR REVENUE BY NONE DATE OF HEARING 17 /0 8 /2021 DATE OF PRONOUNCEMENT 17 / 08 /202 1 / O R D E R PER M. BALAGANESH (A.M) : THIS APPEAL IN ITA NO. 874/MUM/2020 FOR A.Y. 2010 - 11 ARISES OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 40, MUMBAI IN APPEAL NO. CIT(A), MUMBAI - 40/10539/2016 - 17 DATED 28/11/2019 (LD. CIT(A) IN SHORT) IN THE MATTER OF IMPOSITION OF PENALTY U/S. 271(1)(C) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) . 2. NONE APPEARED ON BEHALF OF ASSESSEE. WE HAVE HEARD LD. D R AND HE STATED THAT THAT THIS REVENUE APPEAL IS TO BE DISMISSED AS NOT ITA NO . 874/MUM/2020 SHRI A NAND M SHETTY 2 MAINTAINABLE IN VIEW OF THE RECENT CIRCULAR ISSUED BY THE CBDT DATED 08/08/2019 WHEREIN THE REVENUE HAS BEEN DIRECTED TO WITHDRAW THE APPEAL PREFERRED BY IT BEFORE THE TRIBUNAL IF THE TAX EFFECT ON THE DISPUTED ISSUES IS LESS THAN OR EQUAL TO RS.50,00,000/ - . IT IS WELL SETTLED THAT THIS CIRCULAR IS BINDING ON THE REVENUE AUTHORITIES. 3. RESPECTFULLY FOLLOWING THE SAID CIRCULAR, THE APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTA INABLE. 4. INCASE, IF THE REVENUE IS ABLE TO PROVIDE EVIDENCE THAT THE CASE FALLS UNDER ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCULAR ISSUED BY THE CBDT, THEN THE REVENUE MAY PREFER MISCELLANEOUS APPLICATION FOR RECALLING OF THIS ORDER, IF THEY SO DESIRE , IN WHICH CIRCUMSTANCE THIS ORDER SHALL BE RECALLED BY THIS TRIBUNAL. 5. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. ORDER PRONOUNCED IN OPEN COURT ON 17 / 08 /202 1 . SD/ - ( AMARJIT SINGH ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 17 / 08/ 2021 KARUNA , SR.PS ITA NO . 874/MUM/2020 SHRI A NAND M SHETTY 3 COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMB AI 6. GUARD FILE. //TRUE COPY//