DCIT CEN CIR 5(1), MUMBAI V. AMIT CAPITAL & SECURITIES P.LTD, MUMBAI

ITA 959/MUM/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 4385 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 5 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-08-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2014-2015
• Appeal Filed On: 10-02-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: HIMANSHU SHARMA
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL 'L' BENCH, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA NOS. 959 & 960/MUM/2017 (ASSESSMENT YEARS: 2014-15 & 2012-13) DCIT, CENTRAL CIRCLE - 5(1) ROOM NO. 1928, 19TH FLOOR AIR INDIA BUILDING NARIMAN POINT MUMBAI 400021 VS. M/S. AMIT CAPITAL & SECURITES P. LTD. 47A, 3RD FLOOR, PLOT NO. 308 HANUMAN BUILDING, PERIN NARIMAN POINT, MUMBAI 400001 PAN AAACA4219Q APPELLANT RESPONDENT APPELLANT BY: SHRI HIMANSHU SHARMA RESPONDENT BY: NONE DATE OF HEARING: 03.08.2018 DATE OF PRONOUNCEMENT: 03.08.2018 O R D E R PER PAWAN SINGH, JM THE CAPTIONED APPEALS FILED BY THE REVENUE PERTAINI NG TO ASSESSMENT YEARS 2014-15 & 2012-13 ARE DIRECTED AGAINST SEPARA TE ORDERS PASSED BY THE CIT(A)-53, MUMBAI DATED 30.09.2016 WHICH IN TUR N ARISE OUT OF THE ORDERS PASSED BY THE ASSESSING OFFICER UNDER SECTIO N 143(3)/153A R.W.S. 143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER 'TH E ACT') RESPECTIVELY. 2. THE CBDT, VIDE CIRCULAR NO. 3/2018 DATED 11.07.2018 , HAS REVISED THE MONETARY LIMIT FOR FILING OF APPEALS BY THE DEP ARTMENT BEFORE THE TRIBUNAL WITH RETROSPECTIVE EFFECT. THE TAX EFFECT IN DISPUTE IN THE CAPTIONED APPEALS IS STATED TO BE BELOW THE MONETARY LIMIT OF ` 20 LAKHS SPECIFIED IN THE CBDT CIRCULAR DATED 11.07.2018 (SUPRA). 3. IN THIS BACKGROUND, THE LEARNED D.R. APPEARING FOR THE REVENUE WAS REQUIRED TO STATE HIS POSITION; HE HAS NOT REFERRED TO ANY MATERIAL WHICH WOULD SHOW THAT THE CAPTIONED APPEALS ARE PROTECTED BY ANY OF THE EXCEPTIONS PROVIDED IN PARA 10 OF THE CBDT CIRCULAR (SUPRA). ITA NOS. 959 & 960/MUM/2017 M/S. AMIT CAPITAL & SECURITES P. LTD. 2 4. WITHOUT GOING INTO THE MERIT OF THE ISSUE RAISED, THE CAPTIONED APPEALS ARE DEEMED TO BE WITHDRAWN/NOT PRESSED AS T HEIR FILING IS NOT IN CONSONANCE WITH THE CBDT CIRCULAR DATED 11.07.2018 (SUPRA). BEFORE PARTING WE MAY CLARIFY THAT IF ON A LATER DATE, THE REVENUE FINDS THAT FILING OF THE APPEALS IS PROTECTED BY THE EXCEPTIONS PROVI DED IN PARA 10 OF THE CBDT CIRCULAR (SUPRA), IT SHALL BE AT LIBERTY TO AP PROACH THE TRIBUNAL FOR RECALL OF THE ORDER AND REINSTITUTION OF THE APPEAL S FOR ADJUDICATION ON MERITS. THE TRIBUNAL SHALL CONSIDER SUCH APPLICATIO N, IF ANY, AS PER THE EXTANT LAW. 5. IN CONCLUSION, BY APPLYING THE CBDT CIRCULAR DATED 11.07.2018 (SUPRA), THE CAPTIONED APPEALS OF THE REVENUE ARE D ISMISSED AS WITHDRAWN/ NOT PRESSED. ABOVE DECISION WAS PRONOUNCED IN THE OPEN COURT AT THE CONCLUSION OF HEARING ON 3 RD AUGUST, 2018. SD/ - SD/ - (G.S. PANNU) (PAWAN SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 3 RD AUGUST, 2018 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) -53, MUMBAI 4. THE PR. CIT, CENTRAL-3, MUMBAI 5. THE DR, L BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI N.P.