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Income Tax Appellate Tribunal, “D” BENCH, MUMBAI
Before: SHRI SAKTIJIT DEY, JM & SHRI MANOJ KUMAR AGGARWAL, AM
Aforesaid appeals by revenue for different Assessment Years [AY] contest separate orders of Ld. first appellate authority. Since common issues are involved, we dispose-off the same by way of this common order for the sake of convenience & brevity. First, we take up appeal for AY 2010-11 since the issue in hand is squarely covered by the decision of this Tribunal. The assessee, in this year, was assessed at Rs.225.07 Lacs u/s 143(3) on 22/10/2012.
ITA Nos.4109 -4111/Mum/2017 Ronuk Metafin Private Limited 2.1 Briefly stated, that the assessee being resident corporate assessee engaged in the business of manufacturing of electro plating was subjected to exercise of revisional jurisdiction u/s 263 by Ld. Commissioner of Income Tax [CIT] on 05/12/2014 to examine the claim of the assessee u/s 80IB(5)(i). The income of the assessee, in the consequential proceedings u/s 143(3) read with Section 263 has been enhanced to Rs.270.26 Lacs. The assessee contested the same before Ld. CIT(A) vide impugned order dated 10/03/2017. 2.2 The assessee, in the meantime, challenged the exercise of jurisdiction u/s 263 before this Tribunal with success vide dated 20/04/2016 wherein the exercise of jurisdiction u/s 263 by Ld. CIT was set aside by the Tribunal. 2.3 In terms of the above stated decision of the Tribunal, Ld. CIT(A) deleted the additions since the same did not survive. Aggrieved, the revenue is in further appeal before us. The Ld. DR, Shri Ram Tiwari, fairly conceded the above stated facts. 2.4 In view of the admitted position, the appeal stand dismissed being infructuous.
& 4111 /Mum/2017, AY 2008-09 & 2012-2013 3. In AY 2008-09, the assessee was subjected to reassessment proceedings and re-assessed u/s 143(3) read with Section 147 vide order dated 07/03/2016 wherein the income of the assessee has been enhanced by Rs.13.13 Lacs on account of excess deduction claimed u/s 80IB(5)(i). The income in AY 2012-13 has similarly been enhanced by Rs.38.93 Lacs. The enhanced additions in both the years, upon further ITA Nos.4109 -4111/Mum/2017 Ronuk Metafin Private Limited appeals, have been deleted by Ld. CIT(A) vide separate orders by placing reliance on the same decision of the Tribunal for AY 2010-11, dated 20/04/2016. Aggrieved, the revenue is in further appeal before us.
The Ld. Auhtorized Representative for Assessee [AR], Shri Bhupendra Shah, at the outset, drew our attention to the effect that the tax effect in each of the impugned AY was below Rs.20 Lacs and the same was covered in assessee’s favor by recent low tax effect CBDT Circular No.03/2018 dated 11/07/2018, a copy of which has been placed on record. The Ld. DR controverted the same by submitting that necessary instructions / certificate, in this regard, would be required from higher authorities.
We have gone through the same and find that the tax effect in each of the impugned AYs is below prescribed limit of Rs.20 Lacs and the assessee stood benefitted by the above circular issued by CBDT wherein the minimum monetary limit for filing the appeals before various appellate authorities have been fixed as under:-
S. No. Appeals/ SLPs in Income-tax Monetary Limit (Rs.) matters 1 Before Appellate Tribunal 20.00,000 2 Before High Court 50.00,000 3 Before Supreme Court 1,00.00,000 The aforesaid limits, as per para 13 of the circular applies to pending appeals also. In view of the admitted position, we dismiss both the appeals. -4111/Mum/2017 Ronuk Metafin Private Limited 6. So far as the contentions raised by Ld. DR is concerned, we find that aforesaid circular does not envisage obtaining of any certificate from any authorities, in any manner. Nevertheless, the revenue is free to move appropriate application to recall this letter, if at a later stage, it is found that the matter is covered by any exceptions provided in the aforesaid circular. Conclusion 7. All the appeals filed by the revenue stand dismissed.
Order pronounced in the open court on 20th July, 2018