DEPUTY COMMISSIONER OF INCOME TAX - CENTRAL CIRCLE 6(2), MUMBAI vs. SAMIRA REALITY PROJECTS PRIVATE LIMITED, MUMBAI

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ITA 486/MUM/2018Status: DisposedITAT Mumbai20 December 2019AY 2011-123 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 noted that the tax effect was less than Rs. 50 lacs as per CBDT Circular No. 17 of 2019. Therefore, the appeal was dismissed as not maintainable.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order for AY 2011-12. The assessee's counsel pointed out that the tax effect was below the revised monetary limit for appeals to the ITAT.

What were the issues?

The primary issue was the maintainability of the appeal due to the tax effect being below the prescribed monetary limit for filing appeals before the ITAT.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 69

AI-generated summary — verify with the full judgment below

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

Before: SHRI SHAMIM YAHYA (AM) & SHRI RAM LAL NEGI (JM)

For Appellant: Shri Gaurav Kabra (AR)
For Respondent: Shri Ajay Kumar (CIT DR), Shri Gaurav Kabra (AR)
Hearing: 19/12/2019Pronounced: 20/12/2019

O R D E R

PER RAM LAL NEGI, JM

1.

This appeal has been filed by the revenue against the order dated 31.10.2017 passed by the Commissioner of Income Tax (Appeals)-54 (for short ‘the CIT(A), Mumbai, for the assessment year 2011-12, whereby the Ld. CIT(A) has partly allowed the appeal filed by the assessee against the assessment order passed u/s 143 (3) of the Income Tax Act, 1961 (for short the ‘Act’).

2.

The revenue has challenged the impugned order passed by the Ld. CIT(A) on the following grounds:-

1. “Whether on the basis of facts and circumstances of the case the learned CIT (Appeals) erred in restricting the addition made of Rs. 43,47,425/- U/s 69 on account of on-money amounting to Rs. 21,73,712/-?

2. Whether on the basis of facts and circumstances of the case the learned CIT (Appeals) erred in deleting the addition of Rs. 65,520/- on account of penal interest on short deduction/no deduction of TDS? Assessment Year: 2011-12

3. Whether on the basis of facts and circumstances of the case the learned CIT (Appeals) erred in allowing the assessee’s claim of set-off of brought forward losses of Rs. 1,16,74,748/-? 4. Whether on the basis of facts and circumstances of the case the learned CIT (Appeals) while deleting the additions, erred in following the jurisdictional High Court Judgment in the case of Alcargo Global Logistics Ltd., ignoring the fact that department is before Hon’ble Supreme Court on the issue?”

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