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Income Tax Appellate Tribunal, MUMBAI BENCHES “H”, MUMBAI
Before: SHRI RAMIT KOCHAR (AM) & SHRI RAM LAL NEGI (JM)
O R D E R PER BENCH: These are the three appeals filed by the revenue against the common order dated 22.01.2018 passed by the Commissioner of Income Tax (Appeals)-7 (for short ‘the CIT(A), Mumbai, pertaining to the assessment years 2012-13, 2013-14 and 2014-15 respectively, whereby the Ld. CIT(A) has allowed the appeals filed by the appellants against the assessment orders passed u/s 143 (3) of the Income Tax Act, 1961 (for short the ‘Act’). Since, all the three appeals pertain to the same assessee for different assessment years, the same were clubbed, heard together and are being disposed of by this common and consolidated order for the sake of convenience. Assessment Years: 2012-13, 2013-14 & 2014-15
In all the three cases, the AO had denied the exemption u/s 11 of the Act and treated the receipts/income from activities and interest income as business income of the assessee. In the first appeal, the Ld. CIT(A), set aside the findings of the AO and allowed exemption u/s 11 of the Act relying on the decision of the then CIT (A) (his predecessor) in assessee’s own case for the A.Y. 2010-11 3. At the outset, the Ld. counsel for the respondent/assessee pointed out that the tax effects of the relief granted by the Ld. Commissioner of Income Tax (Appeals) in all the three cases are below Rs. 20 lacs and as per the CBDT Circular No. 3/2018, F. No. 279/Misc.142/2007-ITJ (Pt) dated 11th July, 2018 issued by Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, the limit fixed by the CBDT for filing the appeal before the ITAT is 20 lacs. The Ld. counsel submitted calculation sheet to demonstrate that the tax effect in all the three cases are below Rs. 20 lacs. The calculation made by the assessee is reproduced as under:-
A.Y. Amt (Rs.) Tax @ 31% 2012-13 59,10,065/- (43,87,815/-+15,22,250/-) 18,32,120/- 2013-14 54,62,477/- (33,53,235/- + 21,09,242/-) 16,93,368/- 2014-15 54,34,711/- (32,42,898/-+21,91,813/-) 16,84,760/-