ACIT 4(2), MUMBAI vs. KING KOIL SLEEP SYSTEM P. LTD, MUMBAI

PDF · subscribers
ITA 6654/MUM/2012Status: DisposedITAT Mumbai29 January 2016AY 2008-093 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 Department's appeal as the disputed penalty amount was below the monetary limit of ₹10 lakh set by a CBDT circular. Consequently, the assessee's cross-objection was also dismissed as infructuous.

What were the facts?

The Department appealed against the deletion of penalty imposed under section 271(1)(c) for AY 2008-09. The penalty amount in dispute was ₹3,27,288.

What were the issues?

Whether the Department's appeal is maintainable before the Tribunal when the disputed penalty amount is below the prescribed monetary limit.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, MUMBAI

Before: SHRI SAKTIJIT DEY & SHRI ASHWANI TANEJA

For Appellant: Shri Nilesh Patel
For Respondent: Dr. Pramod Nikalje, Shri Nilesh Patel

Appeal by the Department and cross objection by the assessee are directed against the order dated 17th August 2012, passed by the learned Commissioner (Appeals)–8, Mumbai, deleting penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 (for short "the Act") for the assessment year 2008–09.

2.

At the outset, learned Representative of both the parties submitted before us that penalty imposed under section 271(1)(c) of the Act, which is disputed by the Department in the present appeal being ` 3,27,288, is below the monetory limit of ` 10 lakh, as fixed by the CBDT vide circular CBDT vide Circular no.21 of 2015 dated 10th December 2015, in respect of appeal to be filed by the Department before the Tribunal.

3.

Considering the submissions of the parties and also taking note of the fact that the amount in dispute in the present appeal is ` 3,27,288, which is below the monetory limit of ` 10 lakh fixed by the CBDT in the circular referred to above, we dismiss the appeal of the Revenue as not maintainable.

3 M/s. King Koil Sleep System Pvt. Ltd. 4. In the result, Revenue’s appeal is dismissed.

Cross Objection no.175/Mum./2012 5. In view of our aforesaid decision in Department’s appeal, the cross objection filed by the assessee, merely supporting the order of the learned Commissioner (Appeals), has become infractuous and accordingly, the same deserves to be dismissed.

6.

In the result, assessee’s cross objection is dismissed. Pronounced in the open Court on 28th January 2016

More judgments on Section 271(1)(c)

All 25,141 judgments and leading authorities on Section 271(1)(c) →

Recent GST High Court judgments

Search GST case law →