ITO - 5(1)(4), MUMBAI vs. M/S. HEAVEN DISTILLERY P. LTD., MUMBAI

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ITA 4520/MUM/2006Status: DisposedITAT Mumbai28 April 2016AY 2001-20023 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 dismissed the revenue's appeal because the tax effect involved was less than the monetary limit prescribed by a CBDT circular, which has retrospective effect.

What were the facts?

The assessee filed a return of income, which was later assessed at a significantly higher amount by the AO. The CIT(A) deleted a substantial portion of the additions made by the AO.

What were the issues?

Whether the revenue's appeal is maintainable before the Tribunal given the tax effect and the applicability of CBDT circulars regarding monetary limits for appeals.

Which sections of the Income-tax Act were involved?

Section 143(2),Section 142(1),Section 40A(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “I” BENCH, MUMBAI

Before: SHRI SAKTIJIT DEY, JM & SHRI RAJESH KUMAR, AM

Hearing: 28.4.2016Pronounced: 28.4.2016

PER RAJESH KUMAR, AM : This is an appeal filed by the revenue against the order dated 06.06.2006 passed by the ld.CIT(A)-V, Mumbai and it relates to the assessment year 2001-02. 2. The return of income was filed by the assessee on 29.10.2001 declaring a total income at Rs.67,280/-. The assessment was made by the AO u/s 143(2) and 142(1)of the Act assessing the total income at Rs.17,01,270/-. Aggrieved by the order of AO, the assessee preferred an 2 appeal before the First Appellate Authority, who deleted the total amount of Rs.6,04,373/- on account of addition u/s 40A(3), administrative expenses, expenses incurred in connection with tea, coffee, lunch etc, medical expenses of travelling and expenses increase in opening stock and etc. therefore, balance addition remains Rs.17,01,270- 6,04,373=Rs.10.96,897/-. Aggrieved by the decision of the ld.CIT(A), the revenue is in appeal before us.

3.

We have heard the ld. DR and perused the material on record. We find that the quantum in dispute is Rs.10,96,897/- and the tax effect involved therein is less than Rs.10 lakhs. In view of the Circular issued by CBDT bearing No.21/2015 dated 10.12.2015 prescribing new monetary limit of Rs.10.00 lakhs for preferring appeal against the orders passed by Ld CIT(A) before the Tribunal, the revenue is precluded from pursuing this appeal, as the said circular has retrospective effect and is applicable to the existing appeals also. Accordingly, we dismiss the appeal of the revenue.

4.

In the result, the appeal of the revenue is dismissed. Order pronounced in the open court on 28rd April,2016. आदेश की घोषणा खुरे न्मामारम भें ददनांकः 28th April, 2016 को की गई । (SAKTIJIT DEY) ( RAJESH KUMAR ) JUDICIAL MEMBER ACCOUNTANT MEMBER भुंफई Mumbai; ददनांक Dated 28/04/2016 व.नन.स./ SRL , Sr. PS

3 आदेश की प्रनिलऱपऩ अग्रेपषि/Copy of the Order forwarded to : अऩीराथी / The Appellant 1. प्रत्मथी / The Respondent. 2. 3. आमकय आमुक्त(अऩीर) / The CIT(A)- आमकय आमुक्त / CIT 4. ववबागीम प्रनतननधध, आमकय अऩीरीम अधधकयण, भुंफई / DR,

5.

ITAT, Mumbai 6. गार्ड पाईर / Guard file. आदेशधनुसधर/ BY ORDER,उऩ/सहधयक ऩंजीकधर (Dy./Asstt.

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