Deputy Commissioner Of Income Tax, Circle-4(1)(1), Bengaluru V. M/s. M & G Impex (India) Private Limited, Bangalore

MA 144/BANG/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 6967 (ITAT-BANGALORE)
• Duration Of Justice: 2 month(s) 5 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 22-01-2021
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Appeal Filed On: 16-11-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R PREMI
• Assessee Lawyers: R K GANERIWALA
• Keywords: Audit objection; Tax effect
• Section: 22

Judgement Text

M.P.NO.144 /BANG/2020 M/S. M&G IMPLEX (INDIA) PVT. LTD., BANGALORE IN THE INCOME TAX APPELLATE TRIBUNAL CBENCH: BANGALORE BEFORE SHRI B. R. BASKARAN, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER M.P. NO.144/BANG/2020 (ARISING OUT OF ITA NO.2199/BANG/2019 ASSESSMENT YEAR: 2014-15 DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE-4(1)(1) BANGALORE VS. M/S. M&G IMPLEX (INDIA) PVT. LTD. 303, KALPAK ARCADE, 19 CHURCH STREET BENGALURU-560 001 PAN NO :AABCM1343G APPELLANT RESPONDENT APPELLANT BY : SMT. R. PREMI, D.R. RESPONDENT BY : SHRI R.K. GANERIWALA, A.R. DATE OF HEARING : 22.01.2021 DATE OF PRONOUNCEMENT : 22.01.2021 O R D E R PER B.R. BASKARAN, ACCOUNTANT MEMBER: THE REVENUE HAS FILED THIS MISCELLANEOUS APPLICATI ON SEEKING RECALL OF ORDER DATED 14.2.2020 PASSED IN I TA NUMBER GIVEN IN THE CAPTION. 2. THE LD. D.R. SUBMITTED THAT THE APPEAL OF THE REVENUE WAS DISMISSED BY THE TRIBUNAL ON THE GROUND THAT TH E TAX EFFECT PERTAINING TO THE ISSUES DISPUTED BY THE REV ENUE IS LESS THAN THE MONETARY LIMIT OF RS.50 LAKHS FIXED B Y CBDT M.P. NO.144 /BANG/2020 M/S. M&G IMPLEX (INDIA) PVT. LTD., BANGALORE PAGE 2 OF 3 IN CIRCULAR NO.17/2019 DATED 8.8.2019. THE LD. D.R . SUBMITTED THAT THE ADDITION IN THE INSTANT CASE HAS BEEN MADE BY THE A.O. ON ACCOUNT OF AUDIT OBJECTION AND HENCE THIS APPEAL SHALL BE COVERED BY THE EXCEPTION GIVEN UNDER THE CIRCULAR OF CBDT REFERRED ABOVE. ACCORDINGLY, THE LD. D.R. SUBMITTED THAT THE ORDER OF TRIBUNAL DESERVES TO BE RECALLED. 3. WE HEARD LD. A.R. WHO SAID THAT HE DID NOT HAVE ANY OBJECTION ON RECALLING THE ORDER PASSED BY THE TRIB UNAL. 4. WE HEARD THE PARTIES. IT HAS BEEN STATED BY T HE REVENUE THAT THE ISSUES CONTESTED IN THE APPEAL OF THE REVENUE ARE COVERED BY THE EXCEPTIONS GIVEN IN THE CIRCULAR OF CBDT REFERRED ABOVE. THERE IS NO DISPU TE WITH REGARD TO THE FACT THAT THE CIRCULAR FIXING MONETAR Y LIMITS FOR PREFERRING APPEAL WILL NOT APPLY, IF THE ISSUES CONTESTED ARE COVERED BY THE EXCEPTIONS LISTED OUT IN THE CIR CULAR, ONE OF WHICH IS THE EXISTENCE OF AUDIT OBJECTION. ACCORDINGLY, WE ARE OF THE VIEW THAT THE IMPUGNED ORDER OF THE TRIBUNAL DESERVES TO BE RECALLED. ACCORDING LY, WE RECALL THE IMPUGNED ORDER OF THE TRIBUNAL. 5. THE REGISTRY IS DIRECTED TO POST THE APPEAL F OR FINAL HEARING ON 24.2.2021. SINCE THE DATE OF HEARING IS ANNOUNCED IN THE OPEN COURT IN THE PRESENCE OF BOTH THE PARTIES, THE SERVICE OF NOTICE OF HEARING IS HEREBY WAIVED. M.P. NO.144 /BANG/2020 M/S. M&G IMPLEX (INDIA) PVT. LTD., BANGALORE PAGE 3 OF 3 6. IN THE RESULT, THE MISCELLANEOUS APPLICATION FIL ED BY THE REVENUE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND JAN, 2021 SD/- (BEENA PILLAI) JUDICIAL MEMBER SD/- (B.R. BASKARAN) ACCOUNTANT MEMBER BANGALORE, DATED 22 ND JAN, 2021. VG/SPS COPY TO: 1. THE APPLICANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASST. REGISTRAR, ITAT, BANGALORE.