Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, “J” BENCH, MUMBAI
Before: SHRI SAKTIJIT DEY & SHRI RAJESH KUMAR
O R D E R PerSaktijit Dey (JM): Captioned are cross appeals for assessment year 2009-10 and appeal by the assessee for assessment year 2010-11. While cross appeals for assessment year 2009-10 are against final assessment order passed in pursuance to directions of the Dispute Resolution Panel (DRP), the appeal for Assessment Year 2010-11 arises out of the order passed by the learned Commissioner of Income-tax (Appeals).
As far as assessee’s appeals are concerned, Shri Fenil Bhatt, the learned Authorised Representative of the assessee submitted that assessee has opted for settling the dispute under the Direct Tax Vivadh se Vishwas Act, 2020 by filing declarations before the designated authority on 31-01-2021. Further, he submitted, assessee’s appeals may be disposed of as withdrawn with a liberty to seek restoration of the appeals, in case, the declarations filed under the Direct Tax Vivadh se Vishwas Act, 2020, are not accepted by the department.
As far as revenue’s appeal is concerned, learned Authorized representative submitted, the appeal is not maintainable due to low tax effect.
The learned Departmental Representative submitted, in case, revenue’s appeal is dismissed due to low tax effect, liberty may be granted to the revenue 3 I.T.A. 1884/Mum/2014 I.T.A. 3126/Mum/2014 to seek restoration of the appeal if it is found to be not covered under the low tax effect as per the circular of the CBDT.
We have considered rival submissions and perused materials on record. Considering the fact that the assessee has opted for settling the dispute arising in its appeals under the Direct Tax Vivadh se Vishwas Act, 2020, we are inclined to dismiss the appeals as withdrawn. However, if, for any unforeseen reasons assessee’s declarations are not accepted by the department, liberty is granted to the assessee to seek recall of this order and restoration of the appeals.
Insofar as revenue’s appeal in is concerned, prima facie it appears, the tax effect on the amount disputed by the revenue works out to less than Rs.50 lakhs, the threshold limit prescribed in circular No.17/2019 dated 08th August, 2019 for filing appeal before the Tribunal. In view of the aforesaid, we dismiss the appeal of the revenue, as well, due to low tax effect. However, liberty is granted to the revenue to seek restoration of the appeal, if it is able to prove that either the tax effect on the amount disputed is more than Rs.50 lakhs or the appeal is protected by any of the exceptions provided in the above circular.
In the result, appeals are dismissed. Order pronounced on 09/03/2021. sd/- sd/- (RAJESH KUMAR) (SAKTIJIT DEY) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Dt : 09/03/2021 Pavanan 4 I.T.A. 1884/Mum/2014 I.T.A. 3126/Mum/2014 Copy to : 1. Appellant 2. Respondent 3. The CIT concerned 4. The CIT(A) 5. The DR, ITAT, Mumbai 6. Guard File By Order