DEPUTY COMMISSIONER OF INCOME TAX CC-3(4), CENTRAL RANGE-3, MUMBAI V. SHRI NILESH V KIKAVAT, MUMBAI

MA 271/MUM/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 0019 (ITAT-MUMBAI)
• Duration Of Justice: 4 month(s) 2 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 05-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 02-11-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: GURBINDER SINGH
• Assessee Lawyers: KARAN KAMATH
• Keywords: Tax effect
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL , B BENCH MUMBAI BEFORE : SHRI MAHAVIR SINGH, VP & SHRI M.BALAGANESH, AM MA NO.271/MUM/2020 (ARISING OUT OF ITA NO. 1583 /MUM/ 20 18) ( ASSESSMENT YEAR : 201 0 - 1 1 ) THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3(4) ROOM NO.1915, AIR INDIA BUILDING, NARIMAN POINT MUMBAI 400 021 VS. SHRI NILESH VASANTLAL KIKATVAT FLAT NO.1201, D - WING KUKREJA TOWERS GARODIYA NAGAR GHATKOPAR(E) MUMBAI 400 077 PAN/GIR NO. AABPK2207J (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI GURBINDER SINGH ASSESSEE BY SHRI KARAN KAMATH DATE OF HEARING 05 / 03 /202 1 DATE OF PRONOUNCEMENT 05/03 /202 1 / O R D E R PER M. BALAGANESH (A.M) : BY VIRTUE OF THIS MISCELLANEOUS APPLICATION, THE REVENUE SEEKS TO RECALL THE ORDER PASSED BY THIS TRIBUNAL IN ITA NO.1583/MUM/2018 DATED 04/09/2019 BY FOLLOWING THE CBDT CIRCULAR DATED 08/08/2019 THAT THE TAX EFFECT ON THE DISPUTED ISSUES IS LESS THAN RS.50 LAKHS. 2. WE FIND THAT THE REVENUE HAD STATED IN ITS MISCEL LANEOUS APPLICATION THAT THE CASE FALLS UNDER EXCEPTION 10(E) OF CIRCULAR NO.3/2018. NO EVIDENCE M A NO . 271/MUM/2020 SHRI NILESH VASANTLAL KIKAVAT 2 WHATSOEVER WAS PRODUCED BY THE LD. DR AT THE TIME OF HEARING BEFORE US OR BY THE REVENUE IN ITS MISCELLANEOUS APPLICATION. WE FIND THAT THE REVENUE HAD MERELY ALLEGED IN ITS MISCELLANEOUS APPLICATION THAT THE LD. CIT(A) HAD DELETED THE ADDITION OF RS.1,15,00,000/ - ON THE GROUND THAT ASSESSEE HAS RECEIVED SHARE APPLICATION MONEY FROM M/S. SEAWOOD HOSPITALITY AND REALTY PVT. LTD., WHEREAS ASSESSEE HAS ACTUALLY REC EIVED UNSECURED LOAN FROM THE SAID COMPANY. HENCE, THE ENTIRE PREMISE BASED ON WHICH THE ADDITION HAS BEEN DELETED BY THE LD. CIT(A) WAS CHALLENGED BY THE REVENUE BEFORE THIS TRIBUNAL ON MERITS. THOUGH WE FIND LOT OF FORCE IN THIS ARGUMENT ADVANCED BY THE LD. DR, IT COULD NOT BE BRUSHED ASIDE THAT THESE ARGUMENTS ARE RELEVANT ONLY FOR ADJUDICATION OF THE ISSUE IN DISPUTE BEFORE US , ON MERITS . BUT THE FACT STILL REMAINS THAT THE TAX EFFECT OF DISPUTED ISSUE WOULD BE LESS THAN RS.50,00,000/ - . H ENCE, CIRCULAR NO.17/2019 DATED 08/08/2019 CLEARLY DEBARS THE REVENUE FROM NOT PREFERRING ANY APPEAL BEFORE THIS TRIBUNAL. SINCE, REVENUE WAS NOT ABLE TO BRING ON RECORD THAT THE CASE FALLS IN ANY OF THE EXCEPTIONS PROVIDED IN THE SAID CIRCULAR DATED 08/08/2019, WE ARE N OT INCLINED TO ENTERTAIN THIS MISCELLANEOUS APPLICATION OF THE REVENUE. ACCORDINGLY, THE GROUND RAISED IN THE MISCELLANEOUS APPLICATION IS DISMISSED. 3. IN THE RESULT, MISCELLANEOUS APPLICATION OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN C OURT ON 05/03/2021 SD/ - ( MAHAVIR SINGH ) SD/ - (M.BALAGANESH) VICE PRESIDENT ACCOUNTANT MEMBER MUMBAI ; DATED 05 / 03/ 2021 KARUNA , SR.PS M A NO . 271/MUM/2020 SHRI NILESH VASANTLAL KIKAVAT 3 COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) I TAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//