DCIT 8(3)(2), MUMBAI V. VYOMAN TRADELINK INDIA PVT. LTD.(EALIER KNOWN AS M/S. RUPEE FINANCE AND MANAGEMENT PVT. LTD.), MUMBAI

MA 51/MUM/2021

• Counselvise Citation: [NaN] 107 COUNSELVISE.COM (IT) 1917 (ITAT-MUMBAI)
• Duration Of Justice: 9 month(s) 14 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 03-12-2021
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2012-2013
• Appeal Filed On: 19-02-2021
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: SONAKSHI KOTHARIM
• Section: 32; 147; 131; 68; 246; 69; 145; 27; 148; 54; 37; 6; 56; 263; 63; 132; 12; 28; 144; 10; 90; 154; 2; 11; 15; 271(1)(b); 139; 143(3); 92

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “D”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI KULDIP SINGH, JUDICIAL MEMBER MA No.51/M/2021 (Arising out of ITA No.3032/M/2019) Assessment Year: 2012-13 Dy. CIT-8(3)(2), Aaykar Bhavan, Room No.615, M.K. Road, New Marine Lines, Mumbai – 400 020 Vs. M/s. Vyoman Tradelink India Pvt. Ltd. (earlier known as M/s. Rupee Finance and Management Pvt. Ltd. – merging entity) 135, Continental Building, Dr. Annie Besant Road, Worli, Mumbai – 400 018 PAN: AABCR9194C (Appellant) (Respondent) Present for: Assessee by : Ms. Sonakshi Kotharim A.R. Revenue by : Shri R.A. Dhyani, D.R. Date of Hearing : 03.12.2021 Date of Pronouncement : 03.12.2021 O R D E R Per Kuldip Singh, Judicial Member: Heard : Applicant/appellant the Dy. Commissioner of Income Tax-8(3)(2), Mumbai (hereinafter referred to as the Revenue) by filing present miscellaneous application sought to recall the order dated 21.08.2019 passed by the co-ordinate Bench of the Tribunal in ITA No.3032/M/2019 A.Y. 2012-13 dismissing the appeal filed by the Revenue on account of low tax effect on the basis of circular No.17 of 2019 issued by CBDT on the ground that since this case falls under the exceptional criteria mentioned in the circular (supra) itself it was not liable to be dismissed. MA No.51/M/2021 (Arising out of ITA No.3032/M/2019) M/s. Vyoman Tradelink India Pvt. Ltd. 2 2. Undisputedly, assessment in this case was originally framed under section 143(3) of the Act vide order dated 13.03.2015, thereafter the same was reopened under section 147 of the Act. It is also not in dispute that tax effect in this case was less than Rs.50 lakhs as specified by CBDT circular (supra). It is also not in dispute that the assessment in this case was reopened on the basis of objections raised by the Revenue Audit Department which were accepted. This factual position has not been controverted by the Ld. A.R. for the assessee. 3. Since the case of the assessee falls under the exceptional criteria laid down in the CBDT circular (supra) itself, this case is required to be decided on merits, even though the tax effect in this case was less than Rs.50 lakhs. Consequently, miscellaneous application filed by the Revenue is allowed and order dated 21.08.2019 (supra) passed by the Tribunal is ordered to be recalled, to be listed for hearing by the Registry in due course. Resultantly, miscellaneous application filed by the Revenue is allowed. Order pronounced in the open court on 3 rd Dec 2021. Sd/- Sd/- (S. RIFAUR RAHMAN) (KULDIP SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Dated: 3 rd Dec 2021. * Kishore, Sr. P.S. Copy to: The Appellant The Respondent The CIT, Concerned, Mumbai The CIT (A) Concerned, Mumbai The DR Concerned Bench //True Copy// MA No.51/M/2021 (Arising out of ITA No.3032/M/2019) M/s. Vyoman Tradelink India Pvt. Ltd. 3 By Order Dy/Asstt. Registrar, ITAT, Mumbai.