DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-6(2), MUMBAI V. SAMIRA REALITY PROJECTS PRIVATE LIMITED , MUMBAI

MA 05/MUM/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 5655 (ITAT-MUMBAI)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 24-05-2019
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 04-01-2019
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI BEFORE S/SHRI SHAMIM YAHYA , ACCOUNTANT MEMBER AND S/SHRI AMARJIT SINGH, JUDICIAL MEMBER M.A. N O . 05 / M/201 9 (ARISING OUT OF ITA . NO. 487 /MUM/201 8 ) ( / ASSESSMENT YEAR: 2012 - 13 ) DCIT CENTRAL CIRCLE 6(2) ROOM NO.1903, 19 TH FLOOR, AIR INDIA BUILDING, NARIMAN POINT, MUMBAI - 400021 . / VS. M/S. SAMIRA REALITY PROJECTS PVT. LTD. MARATHON FUTURE, B TOWER 902 - 903 9 TH FLOOR, PAREL, MUMBAI - 400026 . / . / . PAN/GIR NO. : AALCS6413P ( / APPELLANT ) / APPLICANT .. ( / RESPONDENT ) / DATE OF HEARING: 17 .0 5 .201 9 /DATE OF PRONOUNCEMENT: 24. 0 5 . 2019 ORDER PER AMARJIT SINGH, J M THE REVENUE HAS FILED THE PRESENT MISCELLA NEOUS APPLICATION BEARING NO.05 /M/2019 ARISING OUT OF ITA. NO.487 /M/2018 DECIDED ON DATED 23.07.2018 FOR THE A.Y.2012 - 13 . 2. THE BRIEF FACTS OF THE CASE ARE THAT THE HONBLE ITAT HAS DECIDED THE APPEAL OF THE REVENUE BEARING ITA. NO.487 /M/201 8 DATED 23.07 .2018 FOR THE A.Y. 2012 - 13 ON ACCOUNT OF LOW TAX EFFECT IN VIEW OF THE CBDT CIRCULAR NO.03/2018 DATED 11.07.2018 BEING MONETARY LIMIT WAS 20 LACS FOR FILING THE APPEAL. AFTER THE DISPOSAL OF THE APPEAL, THE TAX EFFECT WAS CALCULATED AND IT CAME INTO NOTICE THAT THE TAX EFFECT WAS IN SUM OF RS.30,11,065/ - . THE RETURN OF INCOME WAS FILED BY ASSESSEE DECLARING LOSS IN SUM OF RS.( - )1,21,37,066/ - AND REVENUE BY: MS. JYOTI L. NAYAK (SR. AR ) ASSESSEE BY: SHRI RAKESH JOSHI MA 05 / MUM/201 9 THE ASSESSED INCOME WAS RS.71,040/ - . ACCORDINGLY, THE ORDER IS LIABLE TO BE RECALLED. 3 . NOTICE GIVEN. 4 . WE HAVE HEARD THE ARGUMENT ADVANCED BY THE LD. REPRESENTATIVE OF THE PARTIES AND PERUSED THE RECORD. APPEAL OF THE REVENUE BEARING ITA. NO.487/ M/2018 DATED 23.07.2018 WAS DISPOSED OF IN VIEW OF THE PROVISION CBDT CIRCULAR NO.03/2018 DATED 11.07.2018 ON ACCOUNT OF LOW TAX EFFECT I.E. BELOW 20 LACS . T HE CALCULATION WAS NOT PROPER. IN FACT, THE ASSESSEE FILED THE RETURN OF INCOME ASSESSING THE DECLARED INCOME TO THE TUNE OF RS.( - )1,21,37,066/ - AND THE INCOME WAS ASSESSED OF RS.71,040/ - . THE DIFFERENCE SPEAKS THAT THE TAX EFFECT IS MORE THAN 20 LACS WHIC H NOWHERE COME WITHIN THE AMBIT OF THE CBDT CIRCULAR NO.03/2018 DATED 11.07.2018. IN VIEW OF THE SAID CIRCUMSTANCES, THERE IS A MISTAKE APPARENT ON RECORD WHILE PASSING THE ORDER DATED 23.07.2018, THEREFORE, IN THE SAID CIRCUMSTANCES, WE RECALL THE ORDER D ATED 23.07.2018 IN ITA. NO.487/M/2018 FOR THE A.Y. 2012 - 13 AND DIRECT THE REGISTRY TO REFIX THE MATTER IN DUE COURSE OF TIME. ACCORDINGLY, THE PRESENT MISCELLANEOUS APPLICATION IS HEREBY ORDERED TO BE ALLOWED. IN THE RESULT , THE MISCELLANEOUS APPLICATION F ILED BY THE REVENUE IS HEREBY ORDERED TO BE ALLOWED . ORDER WAS PRON OUNCED IN TH E OPEN COURT ON 24 /05 / 2019 SD/ - SD/ - ( SHAMIM YAHYA ) (AMARJIT SINGH) / ACCOUNTANT MEMBER /JUDICIAL MEMBER MUMBAI, DT: 24 /05 / 2019 V IJAY MA 05 / MUM/201 9 COPY TO : 1 . THE APPELLANT 2 . THE RESPONDENT 3 . THE CIT(A) 4 . THE CIT 5 . THE LD. DEPARTMENTAL REPRESENTATIVE FOR THE REVENUE, SMC , BENCH (TRUE COPY) BY ORDER ASSTT.REGISTRAR, ITAT, MUMBAI BENCHES