ACIT CIRCLE-1, KALYAN vs. HABIB UMAR KHAN, BHIWANDI

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ITA 6525/MUM/2013Status: DisposedITAT Mumbai17 December 2015AY 2009-102 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 held that the tax effect of the disputed amount was below the monetary limit prescribed by the CBDT for filing appeals. Therefore, the appeal filed by the Revenue was not maintainable.

What were the facts?

The Revenue appealed against the deletion of an addition of Rs. 15,20,000/- made on account of unexplained cash credit. The assessment year in question was 2009-10.

What were the issues?

Whether the appeal filed by the Revenue is maintainable before the ITAT considering the tax effect and the CBDT circular on monetary limits for appeals.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “H”, MUMBAI

Before: SHRI JASON P BOAZ & SHRI AMIT SHUKLA

For Appellant: Shri C N Angolkar

ITA No. : 6525/Mum/2013 (Assessment year: 2009-10) ACIT –Circle -1, Vs Shri Habib Umar Khan, 1st Floor, Mohan Plaza Wayale Nagar, Khan Compound, Naigaon, Khadakapada, 1st Kalyan Road, Kalyan Bhiwandi -421 302 �थयी लेखा सं.:PAN: AGVPK 9504 C अपीलाथ� (Appellant) ��यथ� (Respondent) Appellant by Shri C N Angolkar : Respondent by : Shri Gulab I Chachsr सुनवाई क� तार�ख /Date of Hearing : 17-12-2015 घोषणा क� तार�ख /Date of Pronouncement : 17-12-2015 आदेश ORDER अिमत शु�ला, �या. स.: PER AMIT SHUKLA, JM: The aforesaid appeal has been filed by the revenue against impugned order dated 05.08.2013 passed by the CIT(A)-I, Thane for the quantum of assessment passed u/s 143(3) for the assessment year 2009-10, on the following grounds:-

“1. On the facts and in the circumstances of the case and in law, the Hon’ble CIT(A) erred in deleting the addition of Rs. 15,20,000/- made on account of unexplained cash credit.

2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition made on unexplained cash credit without appreciating the fact that creditworthiness as well as genuineness of the creditor has not been established by the assessee even during the remand report proceeding”.

2.

At the outset, it is noticed that, the disputed issue is only for Rs. 15,20,000/- and the tax effect on this amount is much below the monetary limit of Rs. 10 lakhs. As per the latest CBDT Circular No. 21 of 2015, dated 10th December, 2015, new guidelines of 2 Shri Habib Umar Khan Department has been issued, whereby the tax effect for filing of appeal before the ITAT has been prescribed at Rs. 10 lakhs. In the said Circular, it has been specifically clarified that the said instruction will apply retrospectively to all the pending appeals. Accordingly, the appeal filed by the revenue is not maintainable and is dismissed in limine. Order pronounced in the open court on 17th December, 2015.

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