ASST. CIT 11(2), V. JANAK D. DWARKADAS,

MA 583/MUM/2010

• Counselvise Citation: [2010] 123 COUNSELVISE.COM (IT) 5934 (ITAT-MUMBAI)
• Duration Of Justice: 2 month(s) 2 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 08-12-2010
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: J
• Assessment Year: 1996-1997
• Appeal Filed On: 06-10-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHRAVAN KUMAR
• Assessee Lawyers: P RADIP JOSHI
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH J : MUMBAI BEFORE SHRI D.K. AGARWAL, (JM) AND SHRI R.K. PAND A,(AM) MA NO.583/MUM/2010 ARISING OUT OF ITA NO.7056/MUM/2008 ASSESSMENT YEAR : 1996-97 ASSTT. COMMISSIONER OF INCOME TAX -11(2) ROOM NO.479, 4 TH FLOOR AAYAKAR BHAVAN, M.K. ROAD MUMBAI-400 020. ..( APPLICANT ) VS. SHRI JANAK D. DWARKADAS A-6, TAMRIND HOUSE 36, TAMRIND LANE MUMBAI-400 023. ..( RESPONDENT ) P.A. NO. (AAEPD 8303 R) APPLICANT BY : SHR I SHRAVAN KUMAR RESPONDENT BY : SHRI P RADIP JOSHI O R D E R PER D.K. AGARWAL (JM). THIS MISCELLANEOUS PETITION FILED BY THE REVENUE IS DI RECTED AGAINST THE ORDER DATED 28.5.2010 PASSED BY THE TRIBU NAL IN ITA NO.7056/MUM/2008 FOR THE ASSESSMENT YEAR 1996-97. 2. IN THE MISCELLANEOUS PETITION DATED NIL IT HAS BEEN SUBMITTED BY THE ASSESSING OFFICER THAT THE REVENUES APPEAL HAS BEEN D ISMISSED ON THE GROUND THAT THE TAX EFFECT IS BELOW RS.2.00 LACS AS P RESCRIBED BY THE CBDT UNDER INSTRUCTION NO.5/2008 DATED15.5.2008. HOWEVER, MA NO.583/M/10 A.Y:96-97 2 DURING THE RELEVANT ASSESSMENT YEAR 1996-97 THE TAX SLAB WAS 40% FOR THE INCOME ABOVE RS.1,20,000/-, THEREFORE, THE TA X ON THE QUANTUM INVOLVED RS.5,07,153/- COMES TO RS.2,02,881/- W HICH IS ABOVE THE LIMIT PRESCRIBED BY THE CBDT. THEREFORE, T HE ORDER PASSED BY THE TRIBUNAL DISMISSING THE REVENUES APPEAL ON THE GROUND OF TAX EFFECT BE RECALLED. 3. AT THE TIME OF HEARING BOTH PARTIES HAVE AGREED T HAT THE TAX EFFECT ON THE DISPUTED AMOUNT OF RS.5,07,153/- IS MORE THAN RS.2.00 LACS, THEREFORE, THE ORDER PASSED BY THE TRIBUNAL BE RE CALLED. 4. AFTER HEARING THE RIVAL PARTIES AND PERUSING THE M ATERIAL AVAILABLE ON RECORD WE FIND THAT IN THE IMPUGNED ORD ER DATED 28.5.2010 IT HAS BEEN OBSERVED BY THE TRIBUNAL THAT A T THE TIME OF HEARING THE LD. DR DID NOT DISPUTE THAT THE TAX EFFE CT IS LESS THAN RS.2.00 LACS. HOWEVER, KEEPING IN VIEW THAT FOR THE RE LEVANT ASSESSMENT YEAR 1996-97 THE RATE WAS 40% ON THE INCOME EX CEEDS, RS .1,20,000/-, THEREFORE THE TAX ON THE QUANTUM INVOL VED RS. 5,07,153/- COMES TO RS.2,02,881/- WHICH IS ABOVE THE LI MIT PRESCRIBED BY THE CBDT WHICH HAS ALSO NOT BEEN DISPUTED BY THE LD. COUNSEL FOR THE ASSESSEE. THIS BEING SO WE ARE OF THE VI EW THAT THERE IS AN APPARENT MISTAKE IN THE ORDER OF THE TRIBUNAL I N TERMS OF SEC.254(2) OF THE INCOME TAX ACT, 1961 (THE ACT), THEREF ORE, THE ORDER PASSED BY THE TRIBUNAL DATED 28.5.2010 IN DISMISSING TH E REVENUES APPEAL ON THE GROUND OF TAX EFFECT IS RECALLED. ACCOR DINGLY THE MISCELLANEOUS PETITION FILED BY THE REVENUE IS ALLOWED. PARTIES ARE TO APPEAR BEFORE THE TRIBUNAL ON 10.1.2011 WITHOUT WAI TING FOR ANY NOTICE FOR DATE OF HEARING AS ANNOUNCED IN THE OPEN COURT. MA NO.583/M/10 A.Y:96-97 3 5. IN THE RESULT, MISCELLANEOUS PETITION FILED BY THE R EVENUE STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 8.12.2010. SD/- SD/- (R.K. PANDA) ( D.K. AGARWAL ) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 8.12.2010. JV. COPY TO: THE APPLICANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT(A) CONCERNED, MUMBAI THE DR BENCH TRUE COPY BY ORDER DY/ASSTT. REGISTRAR, ITAT, MUMBAI.