DCIT RG 3(3) MUMBAI vs TREND ELECTRONICS LTD ( PREVIOUSLY KNOWN AS VIDEOCON COMMUNICATION LTD) MUMBAI

आयकर अपीलीय अधिकरण “E” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष। BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM Aayakr ApIla saM./ ITA No.

5365/Mum/2012 (inaQa-arNa baYa- / Assessment Year 2008-09) Aayakr ApIla saM./ ITA No.

1849/Mum/2013 (inaQa-arNa baYa- / Assessment Year 2009-10) The Dy.

Commissioner of Income-tax, / The Asst.

Commissioner of Income-tax Circle 3(3), Mumbai PAN – AAACV5946R …………….

Applicant v/s M/s.

Trend Electronics Ltd. (previously known as Videocon Communication Ltd.)171-C, 17th Floor, Mittal court, Nariman Point, Mumbai-400 021 …………….Respondent अपीलार्थी की ओर े / Appellant by : Shri Rajesh Kumar Mishra, DR प्रत्यर्थी की ओर े / Respondent by : Shri Bhupendra Karkhanis, AR ुनवाई की तारीख / Date of hearing: 27.08.2019 घोषणा की तारीख / Date of pronouncement : 27.08.2019 AadoSa / O R D E R PER BENCH: These appeals of Revenue are arising out of the orders of the Commissioner of Income Tax (Appeals)-7, Mumbai in ITAs No.

2 | P a g e ITAs No.5365/MUM/2012 & 1849/Mum/2013 CIT(A)-7/DCIT-3(3)/IT-66,11/10-11 dated 23.04.2012, 23.10.2012.

The Assessments were framed by the Dy.

Commissioner of Income Tax, Circle 3(3), Mumbai (in short DCIT/ ITO/ AO) for AYs 2008-09 & 2009-10 vide dated 12.11.2010, 28.02.2011, under section 143(3) of the Income- tax Act, 1961 (hereinafter ‘the Act’).

2.

These appeals contains the quantum additions of ₹ 81,24,564/- for AY 2008-09 and ₹ 1,31,02,274/- for AY 2009-10.

The learned Counsel for the assessee stated that the tax effect in these appeal, which is below the low tax effect as prescribed vide CBDT Circular No.

17/2019 vide F.No.

279/Misc.142/2007-ITJ(Pt.) dated 08.08.2019, wherein the monetary limit for filing of appeal before ITAT is enhanced to ₹ 50 lacs.

We noted that vide this circular No.

17/2019 dated 08.08.2019 a amendment was made to CBDT Circular No.

3/2018 dated 11.07.2018 vide F.No.

279/Misc.

142/2007-ITJ (Pt) increasing the monetary limit for filing of appeal before Income Tax Appellate Tribunal i.e. ₹ 50 lacs in each of the case from the monetary limit of ₹ 20 lacs.

We noted that earlier Circular No.

3 of 2018 was made applicable to pending appeals also and this clause of the circular remains unchanged even after the amendment.

Admittedly, in these case tax effect is below prescribed limit for filing of appeal before the Tribunal by the Revenue i.e. ₹ 50 lacs.

3.

When this was confronted to the learned Sr.

Departmental Representative, he could not point out that these appeals falls under any of the exception as provided in Circular No.

3 of 2018, which are applicable to the present circular no.

17/2019.

Now, before us, the learned Sr.

DR only requested that he want to verify whether these appeals falls under any of the exception as provided in CBDT Circular No.

3/2018.

Here, we are giving liberty to Revenue, that in case, after passing the order, it comes to the notice of the Revenue that these appeals does falls under any exception of the CBDT Circular No.

3/18, 3 | P a g e ITAs No.5365/MUM/2012 & 1849/Mum/2013 the AO can move for recalling of the order within the prescribed time limit under section 254(2) of the Act.

Admittedly, the tax effect in these appeals of Revenue is much below the prescribed limit of filing appeal before the Tribunal i.e. ₹ 50 lacs as per CBDT circular No.

17 of 2019.

In view of the above, these appeals of Revenue are dismissed as withdrawn in view of Circular No.

4.

In the Result, the appeals of Revenue are dismissed as withdrawn.

Order pronounced in the open court on 27.08.2019.

Sd/- Sd/- (राजेश कुमार / RAJESH KUMAR) (महावीर स िंह /MAHAVIR SINGH) (लेखा दस्य / ACCOUNTANT MEMBER) (न्याययक दस्य/ JUDICIAL MEMBER) मुिंबई, ददनािंक/ Mumbai, Dated: 27.08.2019 स दीप सरकार, व.निजी सधिव / Sudip Sarkar, Sr.PS आदेश की प्रनिललपप अग्रेपिि/Copy of the Order forwarded to : 1. अपीलार्थी / The Appellant 2. pellant 2. प्रत्यर्थी / The Respondent.

3. आयकर आयुक्त(अपील) / The CIT(A) 4. आयकर आयुक्त / CIT 5. ववभागीय प्रयतयनधि, आयकर अपीलीय अधिकरण, मुिंबई / DR, ITAT, Mumbai 6. गार्ड फाईल / Guard file. आदेशाि सार/ BY ORDER, त्यावपत प्रयत //True Copy// उप/सहायक पुंजीकार (Asstt.

Registrar) आयकर अपीलीय अधिकरण, मुिंबई / ITAT, Mumbai