ITO 22(1)(2), V. HARESH M. HINDOCHA,

MA 741/MUM/2012

• Counselvise Citation: [2013] 124 COUNSELVISE.COM (IT) 0600 (ITAT-MUMBAI)
• Duration Of Justice: 6 month(s) 18 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 28-06-2013
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 10-12-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D K SINHA
• Keywords: Tax effect

Judgement Text

, , , , - , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES SMC, MUMBAI .. , !. '. #$% , '& , ' ' BEFORE SHRI I.P.BANSAL, JM AND SHRI N.K.BILLAYA, AM (( '! ./ MA NO.741/MUM/2012 ( ' *+, - / ARISING OUT OF ITA NO.629/MUM/2012) ( ! . ! . ! . ! . / / / / ASST.YEAR : 2008-2009) THE INCOME TAX OFFICER WARD 22(1)(2) MUMBAI. SHRI HARESH M.HINDOCHA 8 RISHABHDEV, VALLABH BAUG LANE GHATKOPAR (EAST), MUMBAI 400 077. PAN : AAWPH1212M ( ' / // / APPLICANT) ! ! ! ! / VS. ( /012/ RESPONDENT) ' 3 33 3 4 ' 4 ' 4 ' 4 ' / APPLICANT BY : SHRI D.K.SINHA /012 3 4 ' 3 4 ' 3 4 ' 3 4 ' / RESPONDENT BY : SHRI SATISH R.MODY ! 3 ,& / / / / DATE OF HEARING : 28.06.2013. 56. 3 ,& / DATE OF PRONOUNCEMENT : 28.06.2013. '7 '7 '7 '7 / / / / O R D E R PER I.P.BANSAL, JM : VIDE MISCELLANEOUS APPLICATION FILED AS ABOVE IT IS THE CONTENTION OF THE REVENUE THAT THE ORDER PASSED BY THE TRIBUNAL DATED 30 TH APRIL, 2012 IN ITA NO.629/MUM/2012 SHOULD BE RECAL LED. THE APPEAL FILED BY THE REVENUE VIDE AFOREMENTIONED WAS DISMISSED ON ACCOUNT OF LOW TAX EFFECT. IT IS THE GRIEVANCE OF T HE REVENUE THAT APPEAL COULD NOT BE DISMISSED AS THERE IS NOTIONAL TAX EFFECT OF ` 20,67,312. EARLIER THE PRESENT MISCELLANEOUS APPLIC ATION WAS FIXED MA NO.741/MUM/2012 SHRI HARESH M.HINDOCHA. 2 FOR HEARING ON 21 ST JUNE, 2013. THE LEARNED AR WAS REQUIRED TO SUBMIT TAX EFFECT CALCULATION AND THE MATTER WAS AD JOURNED TO 28 TH JUNE, 2013. THE LEARNED AR OF THE ASSESSEE HAS PLAC ED ON RECORD TAX EFFECT CALCULATION, ACCORDINGLY TO WHICH AS PER RET URN OF INCOME, THE ASSESSABLE LOSS IS ` 13,84,578. AS PER ASSESSMENT ORDER THE SAME IS ` 8,81,881. THUS THERE IS A DIFFERENCE OF ` 5,02,697 UPON WHICH EVEN IF TAX IS CALCULATED AT 30%, THE TAX EFFECT WILL BE A SUM OF ` 1,50,809 APPROXIMATELY WHICH IN ANY CASE IS LESS THAN ` 3 LAKH. A COPY OF THE TAX CALCULATION WAS ALSO GIVEN TO THE LEARNED DEPAR TMENTAL REPRESENTATIVE. THE LEARNED DEPARTMENTAL REPRESENTA TIVE COULD NOT CONTROVERT THE CALCULATION SUBMITTED BY THE LEARNED AR. THEREFORE, WE FOUND THAT THERE IS NO MISTAKE IN THE ORDER OF T HE TRIBUNAL IN DISMISSING THE APPEAL FILED BY THE REVENUE ON ACCOU NT OF LOW TAX EFFECT. THE APPLICATION FILED BY THE REVENUE IS DEV OID OF MERIT AND IS DISMISSED. 2. 8 ,9 ' 3 (( '! &8: 3 :, ;$ IN THE RESULT, THE MISCELLANEOUS APPLICATION IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 28 TH JUNE, 2013. '7 3 56. ( ?'(., '7 3 / ,>( ?'(., '7 3 / ,>( ?'(., '7 3 / ,>( ?'(.,/ COPY OF THE ORDER FORWARDED TO : 1. ' / THE APPLICANT. 2. /012 / THE RESPONDENT. 3. @ () / THE CIT(A)-33, MUMBAI. 4. @ / CIT 5. (C= / , ! , , / DR, ITAT, MUMBAI 6. =D E / GUARD FILE. '7! '7! '7! '7! / BY ORDER, 0(, / , //TRUE COPY// * * * */ // /; : ; : ; : ; : ( DY./ASSTT. REGISTRAR) , , , , / ITAT, MUMBAI