DCIT 8(2), MUMBAI v. NICO EXTRUSIONS P.LTD, MUMBAI

ITA 5367/MUM/2014 | 2011-2012
Pronouncement Date: 03-10-2016

Appeal Details

RSA Number 536719914 RSA 2014
Assessee PAN AAACN2104R
Bench Mumbai
Appeal Number ITA 5367/MUM/2014
Duration Of Justice 2 year(s) 1 month(s) 8 day(s)
Appellant DCIT 8(2), MUMBAI
Respondent NICO EXTRUSIONS P.LTD, MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 03-10-2016
Appeal Filed By Department
Bench Allotted B
Tribunal Order Date 03-10-2016
Assessment Year 2011-2012
Appeal Filed On 25-08-2014
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH MUMBAI BEFORE SHRI D. KARUNAKARA RAO ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH JUDICIAL MEMBER I.T.A. NO.5367/M/2014 (ASSESSMENT YEAR: 2011 - 2012 ) DCIT 8(2) R.NO. 209 / 216A 2 ND FLOOR AAYAKAR BHAVAN M.K. ROAD MUMBAI 400 020. / VS. M/S. NICO EXTRUSIONS PVT LTD 12 NIRAJ INDUSTRIAL ESTATE OFF. MAHAKALI CAVES ROAD ANDHERI (E) MUMBAI 93. ./ PAN : AAACN2104R ( / APPELLANT) .. ( / RESPONDENT ) / APPELLANT BY : SHRI B. SATYANARAYANA RAO DR / RESPONDENT BY : SHRI PARESH SHPARIA / DATE OF HEARING : 03.10.2016 / DATE OF PRONOUNCEMENT : 03.10.2016 / O R D E R PER D. KARUNAKARA RAO AM: THIS APPEAL FILED BY THE REVENUE ON 25.08.2014 IS AGA INST THE ORDER OF THE CIT (A) - 17 MUMBAI DATED 16.06.2014 FOR THE ASSESSMENT YEAR 2011 - 2012 . 2. BEFORE US AT THE OUTSET LD COUNSEL FOR THE ASSESSEE BRIEFLY NARRATED THE FACTS OF THE CASE AND MENTIONED THAT THE ONLY ISSUE INVOLVED IN THIS APPEAL RELATES TO THE DISALLOWANCE OF RS. 30 36 670/ - ON ACCOUNT OF UNREALISED LOSS. IN THIS REGARD HE SUBMITT ED THAT T HE TAX EFFECT INVOLVED IN THIS APPEAL IS BELOW RS. 10 LAKHS AND THEREFORE THIS APPEAL IS NOT MAINTAINABLE AS PER THE CBDT CIRCULAR NO.21/2015. AFTER HEARING THE LD DR FOR THE REVENUE AND ON PERUSAL OF THE ORDERS OF THE REVENUE AUTHORITIES AS WEL L AS THE RELEVANT MATERIAL PLACED BEFORE US WE FIND THE TAX EFFECT IN THIS CASE IS BELO W RS. 10 LAKHS. THEREFORE THIS CASE IS COVERED BY THE CBDT CIRCULAR NO.21/2015 DATED 10.12.2015 WHICH IS RELEVANT FOR THE PROPOSITION THAT THE APPEALS FILED BY THE REVENUE WITH A TAX EFFECT OF RS. 10 LAKHS AND BELOW ARE TO BE EITHER DISMISSED BY THE TRIBUNAL AS NOT MAINTAINABLE OR NOT PRESSED BY THE REVENUE. CONSIDERING THE SAME THE PRESENT APPEAL FILED BY THE 2 REVENUE IS REQUIRED TO BE DISMISSED SINCE THE SAME ARE NOT MAINTAINABLE. WE ORDER ACCORDINGLY. 3. IN THE RESULT APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 3 RD OCTOBER 2016. SD / - S D / - ( AMARJIT SINGH ) (D. KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; 03.10 .2016 . . ./ OKK SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. / DR ITAT MUMBAI 6. / GUARD FILE . //TRUE COPY// / BY ORDER / (DY./ASSTT. REGISTRAR) / ITAT MUMBAI