DCIT 10(2), MUMBAI vs. GODREJ INVESTMENTS P. LTD, MUMBAI

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ITA 5895/MUM/2013Status: DisposedITAT Mumbai03 February 2020AY 2010-113 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 agreed with the submissions of both parties. It held that the appeal of the Revenue was not maintainable due to the low tax effect, as per the CBDT Circular.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order deleting an addition made under Section 14A read with Rule 8D. The assessee argued that the tax effect was below ₹50 Lakhs, making the appeal not maintainable as per CBDT Circular No. 17/2019.

What were the issues?

Maintainability of Revenue's appeal due to low tax effect as per CBDT circular.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “G”, MUMBAI

Before: SHRI C.N. PRASAD, HON’BLE & SHRI M. BALAGANESH, HON’BLE

For Appellant: Shri Furquan Ahemed
For Respondent: Shri V. Vijay Kumar
Hearing: 03.02.2020Pronounced: 03.02.2020

O R D E R PER C.N. PRASAD (JM) This appeal is filed by the Revenue against the order of the Learned Commissioner of Income Tax (Appeals)-21, Mumbai [hereinafter in short “Ld.CIT(A)”] in Appeal No. CIT(A)-21/IT/196/2012-13 dated 17.07.2013 for the Assessment Year 2010-11.

(A.Y: 2010-11) M/s. Godrej Investment Pvt. Ltd., 2. Revenue has raised the following ground in its appeal: -

1. "On the facts and in the circumstances of the case as well as in law, the Ld. CIT(A) has erred in deleting the addition of ₹.1,33,60,313/- u/s. 14A r.w. Rule 8D of I.T. Rules.”

3.

At the time of hearing, Authorized Representative of the assessee submitted that tax effect on the issue in the present appeal is below ₹ 50 Lacs and in view of the CBDT Circular No. 17/2019 dated 08.08.2019 in F.No.279/Misc.142/2007-ITJ (Pt), the appeal of the Revenue is not maintainable.

4.

Departmental Representative also agreed with the above submission of the Authorized Representative of the assessee.

5.

We have heard the submissions and perused the grounds of appeal in this appeal. We find that the tax effect in this appeal is less than ₹.50 Lakhs and therefore the appeal of the Revenue is not maintainable on account of low tax effect in view of the CBDT Circular No. 17/2019 dated 08.08.2019. Hence this appeal is dismissed.

6.

In the result, appeal of the Revenue is dismissed.

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