ACIT-22(3), MUMBAI, MUMBAI vs. M/S. TRIBHOVANDAS BHIMIJ ZAVERI, MUMBAI

ITA 5930/MUM/2019Status: DisposedITAT Mumbai09 July 2021AY 2007-083 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that information received from the Director General of Investigation (DGIT)(Inv.) is not considered an external source as per CBDT instructions. Therefore, the appeal did not meet the criteria for exceptions to the circulars.

What were the facts?

The revenue filed an appeal against the CIT(A)'s order for assessment year 2007-08. The assessee contended that the appeal was not maintainable due to low tax effect and not falling under exceptions to CBDT circulars.

What were the issues?

The primary issue was whether the revenue's appeal was maintainable based on the tax effect and whether information from DGIT(Inv.) qualified as an external source under CBDT circulars.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCHES “E”, MUMBAI

Before: SHRI SAKTIJIT DEY & SHRI RAJESH KUMAR

For Appellant: Shri Hetan Patel (AR)

For Respondent: Shri Vijay Kumar Menon (DR), Shri Hetan Patel (AR)

Hearing: 23/06/2021Pronounced: 09/07/2021

आदेश प्रतितिति अग्रेतिि/Copy of the Order forwarded to : 1. अपील र्थी / The Appellant 2. प्रत्यर्थी / The Respondent. 3. आयकर आय क्त(अपील) / The CIT(A)- 4. आयकर आय क्त / CIT 5. दिभ गीय प्रदिदनदि, आयकर अपीलीय अदिकरण, म ुंबई / DR, ITAT, Mumbai 6. ग र्ड फ ईल / Guard file. सत्य दपि प्रदि //True Copy//

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