DCIT CEN CIR 6(3), V. VALIANT GLASS WORKS P.LTD,

MA 97/MUM/2015

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 3869 (ITAT-MUMBAI)
• Duration Of Justice: 9 month(s) 7 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 29-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2002-2003
• Appeal Filed On: 22-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: G N MAKWANA
• Keywords: Retrospective amendment; Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES F, MUMBAI , , , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER AND SHRI SANJAY ARORA, ACCOUNTANT MEMBER M.A. NO.97/MUM/2015 (ARISING OUT OF ITA NO.1778/MUM/2011) ASSESSMENT YEAR: 2002-03 DCIT - CENTRAL CIRCLE-6(3), ROOM NO.32(1), GROUND FLOOR AAYAKAR BHAVAN M.K. ROAD MUMBAI- 400 020. / VS. M/S. VALIANT GLASS WORKS PVT. LTD. C/O- SHANKARLAL JAIN & ASSOCIATES, 12, ENGINEER BUILDING, 265, PRINCES STREET, MUMBAI-400002 ( / APPELLANT) ( / RESPONDENT) PA NO.AAACV1224E / REVENUE BY SHRI G. N. MAKWANA / ASSESSEE BY NONE ! ' / DATE OF HEARING 29/01/2016 ! ' / DATE OF ORDER: 29/01/2016 M.A. NO.97/MUM/2015 ( ARISING OUT OF ITA NO.1778/MUM/2011) VALIANT GLASS WORKS PVT. LTD. 2 / O R D E R PER JOGINDER SINGH (JUDICIAL MEMBER) : THIS MISCELLANEOUS APPLICATION IS FILED BY THE REVENUE U/S 254(2) OF THE INCOME TAX ACT, 1961 SEEK ING RECALLING/RECTIFICATION IN THE ORDER OF THE TRIBUNA L DATED 01/12/2014. 2. DURING HEARING OF THIS MISCELLANEOUS APPLICATION , SHRI G.N. MAKWANA, LD. DR, ADVANCED ARGUMENTS, WHIC H IS IDENTICAL TO THE APPLICATION FILED BY THE DEPARTMEN T BY EXPLAINING THAT THE TRIBUNAL HAS MENTIONED CBDT INSTRUCTION NO.5/2014 DATED 10/07/2014, WHEREIN, MONETARY LIMIT IN FILING THE APPEAL AT THE RELEVANT TIME WAS RS.3 LAKHS ONLY, WHEREAS, THE TAX EFFECT IS RS.3,54 ,542/-. NOBODY WAS PRESENT FOR THE ASSESSEE. 2.1. WE HAVE CONSIDERED THE SUBMISSIONS OF THE LD. DR AND PERUSED THE MATERIAL AVAILABLE ON RECORD. WE NO TE THAT THE TRIBUNAL VIDE ORDER DATED 01/12/2014 DISMISSED THE APPEAL OF THE REVENUE ON TAX EFFECT BY QUOTING CBDT INSTRUCTION NO.5 OF 2014, DATED 10/07/2014. HOWEVE R, WE NOTE THAT THE CBDT VIDE CIRCULAR NO.21 OF 2015 DATE D 10/12/2015 (F. NO.279/MISC./142/2007-IT(PT), WITH RETROSPECTIVE EFFECT REVISED THE MONETARY LIMIT AND DIRECTED THE DEPARTMENT NOT TO FILE THE APPEAL IN THE CASES, WHERE THE TAX EFFECT DOES NOT EXCEED THE FOLLOWING MONETARY L IMIT. M.A. NO.97/MUM/2015 ( ARISING OUT OF ITA NO.1778/MUM/2011) VALIANT GLASS WORKS PVT. LTD. 3 SL. NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS.) 1. BEFORE ITAT 10,00,000/ - 2. U/S 260 A BEFORE HONBLE HIGH COURT 20,00,000/ - 3. BEFORE HONBLE SUPREME COURT 25,00,000/ - IT IS MADE CLEAR THAT THE AFORESAID CIRCULAR IS EFFECTIVE RETROSPECTIVELY, THEREFORE, NO USEFUL PUR POSE WILL BE SERVED TO RECALL THE AFORESAID ORDER AND AGAIN PASS IDENTICAL ORDER. THEREFORE, IN VIEW OF THE REVISED MONETARY L IMIT VIDE CIRCULAR NO.21 OF 2015 DATED 10/12/2015, THE DEPART MENT IS NOT PERMITTED TO FILE THE APPEAL. VIDE PARA -4 O F THE CIRCULAR IT HAS BEEN CLARIFIED THAT IN CASE OF CHAR GEABILITY OF INTEREST IS THE ISSUE UNDER DISPUTE, THE AMOUNT OF INTEREST SHALL BE THE TAX EFFECT. SINCE, THE TAX EFFECT IS B ELOW PRESCRIBED MONETARY LIMIT, THE APPEAL OF THE REVENU E IS NOT MAINTAINABLE, CONSEQUENTLY, WE FIND NO MERIT IN THE MISCELLANEOUS APPLICATION OF THE REVENUE, THEREFORE , DISMISSED AS INFRUCTUOUS. FINALLY, THE MISCELLANEOUS APPLICATION OF THE REVENUE IS DISMISSED AS INFRUCTUOUS. THIS ORDER WAS PRONOUNCED IN THE OPEN IN THE PRESENCE OF LD. DR AT THE CONCLUSION OF THE HEARING ON 29/01/2016. SD/- SD/- (SANJAY ARORA) (JOGINDER SINGH) #$ / ACCOUNTANT MEMBER %$ / JUDICIAL MEMBER M.A. NO.97/MUM/2015 ( ARISING OUT OF ITA NO.1778/MUM/2011) VALIANT GLASS WORKS PVT. LTD. 4 MUMBAI; % DATED : 29/01/2016 F{X~{T? P.S/. .. &%'()* )+' / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ' ' ( ( ) / THE CIT, MUMBAI. 4. ' ' ( / CIT(A)- , MUMBAI 5. +,- . , ' ' ./ , / DR, ITAT, MUMBAI 6. -0 1 / GUARD FILE. / BY ORDER, + //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI.