ACIT - 14(2), MUMBAI vs. HITEN P. DALAL, MUMBAI

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ITA 4732/MUM/2014Status: DisposedITAT Mumbai15 March 2016AY 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 dismissed the appeal filed by the Revenue. This was based on a CBDT circular prescribing a monetary limit of Rs. 10 lakhs for appeals to the Tribunal, which had retrospective effect.

What were the facts?

The Revenue appealed against the CIT(A)'s order that granted relief to the assessee. The disputed amount was Rs. 20,03,753/- with a tax effect less than Rs. 10 lakhs.

What were the issues?

Whether the Revenue's appeal is maintainable before the Tribunal given the tax effect and the applicability of the CBDT circular on monetary limits for appeals.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “H” BENCH, MUMBAI

Before: HON’BLE S/SHRI SANJAY GARG, JM & SHRI RAJESH KUMAR, AM

For Appellant: Shri Amit Kumar Singh
Hearing: 15.3.2016Pronounced: 15.3.2016

PER RAJESH KUMAR, AM : This is an appeal filed by the revenue against the order dated 24.04.2014 passed by the ld.CIT(A)-25, Mumbai and it relates to the assessment year 2010-11. 2. We heard the parties and perused the record. The assessee filed his return of income on 30.09.2010 declaring a total income of Rs.1,75,13,250/-. The AO made the assessment at Rs.3,43,50,080/-. Aggrieved by the order of AO, the assessee preferred an appeal before the ld.CIT(A) and the ld. CIT(A) granted relief to the assessee. Aggrieved by 2 order of ld.CIT(A) granting relief to the assessee the revenue is in appeal before the Tribunal.

3.

The revenue is contesting the relief of Rs.1,19,139/- stating that the source of funds is explained, though the assessee did not explained, the deletion of addition of Rs.11,83,500/- and addition u/s 14A amounting to rs.7,01,114/-.

4.

We find that the quantum in dispute is Rs.20,03,753/- 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 by the revenue, as the said circular has retrospective effect and is applicable to the existing appeals of revenue. Accordingly, we dismiss the same.

5.

In the result the appeal of the revenue stands dismissed. Order pronounced in the open court on 15th March, 2016 . आदेश की घोषणा खुरे न्मामारम भें ददनांकः 15th March, 2016 को की गई । (सुंजय गगव/SANJAY GARG) (राजेश कुमार/RAJESH KUMAR) न्याययक सदस्य/Judicial Member ऱेखा सदस्य/Accountant Member भुंफई Mumbai; ददनांक Dated 15/03/2016 व.नन.स./ SRL , Sr. PS

3 आदेश की प्रयिलऱपऩ 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. आदेशानुसार/ BY ORDER,उऩ/सहायक ऩंजीकार (Dy./Asstt.

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