Income Tax Appellate Tribunal - Mumbai
Dcit,Cc-3(4), Central Range-3, Mumbai vs Smt. Heena N. Kikavat, Mumbai on 5 November, 2018
IN THE INCOME TAX APPELLATE TRIBUNAL "SMC" BENCH, MUMBAI
BEFORE SHRI SHAMIM YAHYA, AM
I.T.A. No. 1588/Mum/2018
(Assessment Year: 2010-11)
Dy. CIT, CC-3(4), Smt. Heena N. Kikavat
th
Central Range-3, Room No. 1915, 19 Flat No. 1201, D-Windg,
Vs.
Floor, Air India Bldg., Nariman Point, Kukreja Towers, Garodiya Nagar,
Mumbai-400 021 Ghatkopar (E), Mumbai-400 077
PAN/GIR No. AGZPK 8463 C
(Appellant) : (Respondent)
Appellant by : Shri S. K. Bepari
Respondent by : Shri Rohan Deshpande
Date of Hearing : 17.10.2018
Date of Pronouncement : 05.11.2018
ORDER
Per Shamim Yahya, A. M.:
This is an appeal by the Revenue directed against the order of the ld.
Commissioner of Income Tax (Appeals)-51, Mumbai (ld. CIT(A) for short) dated 13.12.2017 and pertains to the assessment year (A.Y. for short) 2010-11.
2. The Revenue is in appeal against the deletion of addition by the ld. Commissioner of Income Tax (Appeals). The ground of appeal read as under:
1. On the facts and in the circumstances of the case and in law, the ld. CIT(A), erred in deleting the addition of Rs.40,00,000/- made by the A.O. on protective basis on account of loan received by the assessee from M/s. Seawood Hospitality & Reality pvt. Ltd. (M/s. SHRPL) on which he has not paid any interest as the A.O. held that the loan is the same money that has been introduced as share capital at huge premium in M/s. SHRPL, which was proved as non-genuine during the search action.
3. At the outset, it transpires that the tax effect of the relief granted by the ld. Commissioner of Income Tax (Appeals) is below Rs.20 lacs, as per the limit fixed by the CBDT for filing the appeal before the ITAT vide CBDT Circular No. 3/2018, F. No. 279/Misc.142/2007-ITJ (Pt) dated 11th July, 2018 issued by Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India. 2 ITA No. 15 8 8/ Mu m/ 2 0 18
4. I have gone through the order of the ld. Commissioner of Income Tax (Appeals) and the grounds of appeal. It has been found that the tax effects in the appeals are less than Rs. 20 lacs.
5. The ld. Departmental Representative fairly agreed to the above proposition that these appeals are not maintainable in light of the above said CBDT Circular. He also did not point that these appeals fall in the exceptions carved out in the above said circular. Accordingly, these appeals filed by the Revenue stands dismissed.
6. In the result, this appeal by the Revenue stands dismissed.
Order pronounced in the open court on 05.11.2018 Sd/-
(Shamim Yahya) Accountant Member Mumbai; Dated :05.11.2018 Roshani, Sr. PS Copy of the Order forwarded to :
1. The Appellant
2. The Respondent
3. The CIT(A)
4. CIT - concerned
5. DR, ITAT, Mumbai
6. Guard File BY ORDER, (Dy./Asstt. Registrar) ITAT, Mumbai