DCIT (IT) 1(1)(1), MUMBAI V. ABU DHABI COMMERICAL BANK, MUMBAI

MA 41/MUM/2017

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 6837 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 1 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 28-02-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2010-2011
• Appeal Filed On: 24-01-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 254(2)

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES A , MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER, AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER M.A. NO.41/MUM/2017 (ARISING OUT OF ITA NO.4779/MUM/2016) ASSESSMENT YEAR: 2010-11 DCIT-1(1)(1), R. NO.117, 1 ST FLOOR, SCINDIA HOUSE, N. M. ROAD, BALLARD ESTATE, MUMBAI-400020 / VS. M/S ABU DHABI COMMERCIAL BANK, 75, REHMAN MANJIL, VEER NARIMAN ROAD, CHURCHGATE, MUMBAI-400020 ( /ASSESSEE) ( / REVENUE) P.A. NO.AAACA4216B / DATE OF HEARING : 22/02/2019 / DATE OF ORDER: 28/02/2019 / O R D E R PER G. MANJUNATHA (ACCOUNTANT MEMBER) THE REVENUE HAS FILED THIS MISCELLANEOUS APPLICATIO N U/S 254(2) OF THE INCOME TAX ACT, 1961 TO RECTIFY MISTAKE APPARENT ON RECORD IN THE ORDER OF THE TRIBUNAL IN ITA NO.4779/MUM/2015, DATED 01/01/2016, FOR AY 2010-11. 2. THE REVENUE HAS NARRATED FACTS AND MISTAKES STA TED TO BE APPARENT FROM THE ORDER OF THE ITAT, MUMBAI, DATED 01/01/201 6 IN ITA NO.4779/MUM/2015. / ASSESSEE BY SMT./MS. CHANDNI SHAH / REVENUE BY MS. KUSUM BANSAL - DR 2 MA NO.41/MUM/2017 THE RELEVANT CONTENTS OF THE MISCELLANEOUS APPLICAT ION FILED BY THE ASSESSEE ARE REPRODUCED HEREUNDER:- THE PRESENT MISCELLANEOUS APPLICATION IS BEING FIL ED TO RECTIFY A MISTAKE THAT THE HON'BLE ITAT HAS DISMISSED THE APPEAL FILE D BY THE DEPARTMENT VIDE ITA NOS.4779/MUM/2015 DATED 01.01.2016 FOR ASS ESSMENT YEAR 2010-11ON THE GROUND THAT TAX EFFECT IS BELOW RS 10 LAKH. HOWEVER, ON GOING THROUGH CASE RECORD IT IS OBSERVED THAT IN TH IS CASE TAX EFFECT INVOLVED IS RS 10,14,757/-WHICH IS MORE THAN RS 10 LAKH. ON THE FACTS AND CIRCUMSTANCES STATED ABOVE THE APP ELLANT HUMBLY PRAYS THAT THE HON'BLE ITAT, MUMBAI MAY BE PLEASED TO CON SIDER THE ISSUE IN THE ABOVE APPEAL BY ADMITTING THE MISCELLANEOUS APP LICATION AND KINDLY PASS NECESSARY ORDER OF RECTIFICATION AND OBLIGE. 1. 'WHETHER ON THE FACTS AND CIRCUMSTANCES OF THE C ASE THE HON'BLE ITAT IS. RIGHT IN DISMISSING THE APPEAL OF THE REVE NUE ON ACCOUNT OF LOW TAX EFFECT AS PER CBDT'S CIRCULAR NO. 2112015 DATED 10.12.2015 WHERE IN FACT THE TAX EFFECT ON THE IMPUGNED DISALLOWANCE OF RS. 24,004,638/- IS RS. 10,14,757/- (TAX, SURCHARGE AND EDUCATION CESS) WHICH IS ABOVE THE MONETARY LIMIT OF TAX EFFECT OF RS. 10,00,000/- FOR FILING APPEAL BEFORE THE HON'BKE ITAT AS PRESCRIBED IN THE CIRCULAR NO.21/20 15?' 2. THE APPELLANT PRAYS THAT THE APPEAL OF REVENUE M AY BE RESTORED AND ADJUDICATED ON MERITS. 3. WE HAVE HEARD BOTH PARTIES AND PERUSED THE MISC ELLANEOUS APPLICATION FILED BY THE REVENUE ALONG WITH ORDER O F THE TRIBUNAL IN ITA NO.4779/MUM/2015, DATED 01/01/2016, FOR AY 2010-11. WE FIND THAT THE TRIBUNAL HAS DISMISSED APPEAL FILED BY THE REVENUE AS NOT MA INTAINABLE IN THE LIGHT OF CIRCULAR ISSUED BY CBDT VIDE CIRCULAR NO.21 OF 2015, DATED 1 0/12/2015, WHERE THE BOARD HAS ENHANCED MONETARY LIMIT FOR FILING APPEAL BEFOR E THE TRIBUNAL TO RS.10 LAKHS. THE REVENUE CONTENDED THAT TAX EFFECT INVOLVED IN PRESE NT APPEAL IN ITA NO.4779/MUM/2015 FOR AY 2010-11 IS IN EXCESS OF MON ETARY LIMIT FIXED BY THE BOARD FOR FILING APPEAL AND ACCORDINGLY, THERE IS MISTAKE APPARENT IN THE ORDER OF THE TRIBUNAL IN DISPOSING OF APPEAL BY FOLLOWING THE SA ID CIRCULAR. ALTHOUGH, THERE IS MERIT 3 MA NO.41/MUM/2017 IN THE MISCELLANEOUS APPLICATION FILED BY THE REVEN UE THAT TAX EFFECT INVOLVED IN THE ABOVE APPEAL IS MORE THAN MONETARY LIMIT OF RS.10 L AKHS FIXED FOR FILING APPEAL, BUT FACT REMAINS THAT CBDT HAS ISSUED ANOTHER CIRCULAR VIDE CIRCULAR NO. 3 OF 2018 DATED 11/07/2018 AND ENHANCED MONETARY LIMIT FROM RS.10 L AKHS TO RS.20 LAKHS FOR FILING APPEAL BEFORE THE TRIBUNAL. THEREFORE, EVEN IF THE APPEAL FILED BY THE REVENUE IS RECALLED, BY VIRTUE OF NEWLY ISSUED CIRCULAR NO.3 O F 2018, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AS TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS LESS THAN THE AMOUNT OF MONETARY LIMIT FIXED BY THE BOARD FOR FILING APPEAL BEFORE THE TRIBUNAL. THEREFORE, WE ARE OF THE CONSIDERED VIEW THAT MISCE LLANEOUS APPLICATION FILED BY THE REVENUE IS NOT MAINTAINABLE AND HENCE, THE SAME IS DISMISSED. 4. IN THE RESULT, MISCELLANEOUS APPLICATION FILED B Y THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 28/02/2019. SD/- SD/- ( MAHAVIR SINGH ) (G. MANJUNATHA) ! ' /JUDICIAL MEMBER # ' / ACCOUNTANT MEMBER MUMBAI; DATED : 28/02/2019 F{X~{T? F{X~{T? F{X~{T? F{X~{T? P.S P.S P.S P.S / /. /./. /. !.. %!&'()(*& / COPY OF THE ORDER FORWARDED TO : 1. ! / THE APPELLANT (RESPECTIVE ASSESSEE) 2. '#$ ! / THE RESPONDENT. 3. %$ %$ & ( ) / THE CIT, MUMBAI. 4. %$ %$ & / CIT(A)- , MUMBAI, 5. ()* $ ' + , %$ $ +- , / DR, ITAT, MUMBAI 4 MA NO.41/MUM/2017 6. *. / / GUARD FILE. / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI SR. NO. DETAILS DATE INITIALS DESIGNATI ON 1 DRAFT DICTATED ON 28/02/2019 SR.PS/PS 2 DRAFT PLACED BEFORE AUTHOR 28/02/2019 SR.PS/PS 3 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER SR.PS/PS 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER JM/AM 5 APPROVED DRAFT COMES TO THE SR.PS/PS JM/AM 6 ORDER PRONOUNCEMENT ON SR.PS/PS 7 FILE SENT TO THE BENCH CLERK SR.PS/PS 8 DRAFT DICTATION SHEETS ARE ATTACHED YES 9 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK 10 DATE ON WHICH FILE GOES TO THE AR 11 DATE OF DISPATCH OF ORDER