DY.CIT., CENTRAL CIR. 23, MUMBAI vs BINDU OBEROI, MUMBAI

Income Tax Appellate Tribunal, “B”, BENCH MUMBAI

Before: SHRI B.R.BASKARAN, AM & SHRI PAWAN SINGH, JM Smt. Bindu Oberoi,

For Appellant: Shri R. Murlidhar

For Respondent: Shri N.P. Singh (DR), Shri R. Murlidhar

Hearing: 09/02/2016

Revenue by : Shri N.P. Singh (DR) Assessee by : Shri R. Murlidhar Date of Hearing : 09/02/2016 Date of Pronouncement: 09 /02/2016 O R D E R

PER PAWAN SINGH, JM:

The above appeal is filed by the Revenue against the order of CIT(A)-40, Mumbai dated 07.03.2011 in respect of Assessment Year (AY)-2005-06. The only ground raised

by the Revenue in the present appeal is that the CIT(A) erred in deleting the addition of Rs. 12,31,765/- as unexplained professional receipt.

2. We have noticed that tax effect in the present appeal is involved in the above referred case is below the monetary limit (Rs.10,00,000/-) prescribed by the Central Board of Director Taxes(CBDT), vide its Circular No.21/2015(F.No.142/2007-ITJ (Pt.) dated 10th December, 2015. Wherein the Departmental Representative (DR) of the Revenue has argued that the assessment order was passed by AO, u/s. 153 r.w.s. 143(3) of the I.T. Act and the latest circular may not be applicable against the Department in the present appeal. We have perused the Circular No.21/2015(F.No.142/2007-ITJ (Pt.) dated 10th

3. December, 2015, wherein exception are provided in paragraph no.8 of the Circular and no such exception find place in the said paragraph, hence, the objection raised by DR has no force.

DY.CIT., CENTRAL CIR. 23, MUMBAI vs. BINDU OBEROI, MUMBAI