DCIT CEN CIR 7(2), MUMBAI V. MANBA INVESTMENT & SECURITIES P.LTD, MUMBAI

MA 195/MUM/2020

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 4457 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 29 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 26-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2010-2011
• Appeal Filed On: 27-07-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUNIL DESHPANDE
• Assessee Lawyers: J P BAIGARA
• Keywords: Tax effect
• Section: 195; 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D B ENCH , MUMBAI BEFOR E: HON BL E JUSTICE P.P. BHATT, PRESIDENT & SHRI M.BALAGANESH, AM M.A. NO. 195 / MUM/2020 ( ARISING OUT OF I TA NO. 3136/ MUM/ 2017 ( ASSESSMENT YEAR : 2010 - 11 ) & M.A. NO. 19 6 / MUM/2020 (ARIS ING OUT OF I TA NO. 313 7 / MUM/ 2017 ( ASSESSMENT YEAR : 201 1 - 1 2 ) DCIT CEN CIR 7(2) R.NO.653 , 6 TH FLOOR AAYAKAR BHAVAN MKRD, MUMBAI - 400020 VS. M/S. MANBA INVESTMENT & SECURITIES PVT. LTD., 306, RUNWAL HEIGHTS OPP. NIRMAL LIFESTYLE MULUND (W) MUMBAI 400 080 PAN/GIR NO. AACCM4718 N (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI SUNIL DESHPANDE ASSESSEE BY SHRI J.P. BAIGARA DATE OF HEARING 26 / 03 /202 1 DATE OF PRONO U NCEMENT 26 / 03 /202 1 / O R D E R PER M. BALAGANESH (A.M) : BY VIRTUE OF TH ESE MISCELLANEOUS A PPLICATION S , THE REVENUE SEEKS TO RECALL THE ORDER PASSED BY THIS TRIBUN AL F OR A.Y RS . 20 10 - 11 & 2011 - 12 ON 21/08/2019 WHEREIN THIS TR IBUNAL HAD DISMISSED THE APPEAL S O F THE REVENUE BY FOLLO WING TH E CIRCUL AR ISSUED BY THE CBDT VIDE C IRCULAR NO.17/20 19 DAT ED 08/08/2019 ON THE GROUND THAT THE TAX EFFECT INVOLVED ON THE DISPUTED ISSUES WAS LES S THAN THE PRESCRIBED MONETARY LIMIT S AS PER THE AFORESAID CIRCULAR. M A NO . 195 & 196 /MUM/ 2020 M/S. MANBA INVESTMENT & SECURITIES P. LTD., 2 2. WE FIND THAT THE REVENUE IN ITS MISCELLANEOUS APPLICATION S HAD SUBMITTED THAT ADDITIONS IN THE A SSESS MENT WERE MADE BASED ON THE INFORMATION RECEIVED FROM INVESTIGATION WING OF THE IN COME TAX DEP ARTMENT AND THAT THE SAME FALLS UNDER THE EXCEPTION PROVIDED IN PAR A 1 0(E) OF THE CBDT CIRCULAR AND HENCE, THE APPEAL OF THE REVENUE C ANNOT BE DISMISSED ON THE GROUND THAT THE TAX EFFEC T IS LESS THAN THE PRESC RIBED MONETARY LIMIT S. WE FIND THAT ON PERUSAL OF THE PAR A 10(E) OF THE CBDT CIRCULAR NO.3/ 20 18 DATED 11/07/2018 AND C IRCULAR NO.17/ 20 19 DATED 08/08/2019 THAT THE SAID PARA 10(E) ON LY S PEAKS ABOUT INFORMATIO N RECEIVED FROM EXTERNAL AGENCIES SUCH AS SALES TAX DEPARTMENT, SERIOUS FRAUD INV EST IGAT ION OFFICE, SEBI ETC., ADMITTEDLY, THE INFORMATION RECEIVED FROM INVESTIGATION WI NG OF INCOME TAX DEPARTMENT WOULD FALL ONLY WITHIN THE AMBIT OF I NTERNAL SOURCE OF INFO RMATION. HENCE, IN OUR CONSIDERED OPINION, TH E SAID INTERNAL INFORMATION RECEI VED FROM I NVESTIGATIO N WING OF INCOME TA X DEPARTMENT WOULD NOT FALL WITHIN THE EXCEPTION CL AUSE PROVIDED IN PARA 10(E) OF THE CBDT CIRCULAR. HENCE, WE H O LD THAT THE ORDER PASSED BY THIS TRIBUNAL DOES NOT WARRANT ANY RECTIFICATION U/S.254 (2) OF THE ACT. ACCORDINGLY, THE MISCELLA NEOUS APPLICATION S PREFERRED BY THE REVENUE ARE DISMISSED. 3. IN TH E RESULT, THE MISCELLANEOUS APPLICATION S PREFERRED BY THE RE V ENUE ARE DISMISSED. ORDER PRONOUNCE D ON 26 / 03 / 202 1 BY WAY OF PROPER M ENTIONING IN T HE NOTICE BOARD. SD/ - ( JUSTI CE P.P. BHATT ) SD/ - (M.BALAGANESH) PRESIDENT ACCOUNTANT MEMB ER MUMBAI ; DATED 26 / 03 / 202 1 KARUNA , SR.PS M A NO . 195 & 196 /MUM/ 2020 M/S. MANBA INVESTMENT & SECURITIES P. LTD., 3 COPY OF THE O RDER FORWARDED TO : BY ORDER, ( ASSTT. REGIST RAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITA T, MUMBAI 6. GUARD FILE. //TRUE COPY//