Forum
Read and express views
× Latest Case Laws on Income Tax by various Income Tax Appellate Tribunals in India

These are the latest case laws decided by various Income Tax Appellate Tribunals (ITAT) of India on Income Tax which have been published recently. The case laws are open for discussion and we invite expert comments from our members on its applicability and effect on relevant issues.

03-01-2019, Gea Process Engineering, Section 144C(4), 115JB, Tribunal Mumbai

  • amit
  • amit's Avatar Topic Author
  • Offline
  • Administrator
  • Administrator
More
5 months 2 weeks ago #8269 by amit
Section - 144C(4), 115JB, 115JC, 268A,12A, 12AA, 253(4)
Order Date - 03-01-2019
Favouring - Assessee Partly
Court - Tribunal Mumbai
Appellant - DCIT
Respondent - Gea Process Engineering India Private Limited
Justice - MAHAVIR SINGH, JM & RAMIT KOCHAR, AM
Citation - 119Taxpundit66
Appeal No. - I.T.A. No.4154/Mum/2015
Asstt. Year - 2007-08

Order

PER : RAMIT KOCHAR

There are cross appeals filed by the assessee as well Revenue for the impugned assessment year 2007-08 before Income-Tax Appellate Tribunal, Mumbai (hereinafter called “the tribunal”). The assessee has also filed cross objections against the Revenue‟s appeal. The appeals before the tribunal has arisen against the appellate orders dated 06.04.2015 passed by learned Commissioner of Income-tax(Appeals)-56,Mumbai .The assessment order was framed by learned Assessing Officer( hereinafter called “the AO”) vide assessment order dated 09.02.2011 passed u/s 143(3) read with Section 144C(4) of the Income-tax Act,1961( hereinafter called “the Act”) which was in pursuance to the order dated 29.10.2010 passed by Transfer Pricing Officer(hereinafter called “the TPO”) u/s 92CA(3) of the 1961 Act.

2. First , we shall dispose of Revenue‟s appeal in ITA no. 4154/Mum/2015 for AY 2007-08 and Cross Objections in C.O.No. 147/Mum/2015 arising out of Revenue‟s appeal in ITA no. 4154/Mum/2015 , filed by the assessee. against aforesaid Revenue‟s appeal. This appeal filed by the Revenue in ITA No. 4154/Mum/2015 and C.O.No. 147/Mum/2015 filed by the assessee, both for AY 2007-08 are disposed of because the tax effect in the Revenue‟s appeal is less than Rs. 20 lacs as per the 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.

3. The Ld. DR submitted that this appeal filed by Revenue is not maintainable as tax effect is less than Rs. 20 lacs being a low tax effect appeal covered by CBDT circular no. 3/2018 dated 11.07.2018 and this appeal of the Revenue is also not covered by any of exceptions as notified by CBDT circular and this appeal is thus not maintainable as tax effect is less than Rs. 20 lacs. The learned AR also submitted that tax effect involved in this Revenue‟s appeal is less than Rs. 20 lacs and the CBDT Circular No. 3/2018 is applicable to this appeal and this appeal filed by the Revenue is not maintainable in terms of CBDT circular no 3/2018 dated 11.07.2018 . The said CBDT circular dated 11.07.2018 is reproduced as hereunder:-

Click to view and download Full Free Judgement of DCIT vs. Gea Process Engineering India Private Limited

Unable to display Google Map.




Please Log in or Create an account to join the conversation.

Time to create page: 0.162 seconds

If You Appreciate What We Do Here On TaxPundit, You Should Consider:

We are thankful for your never ending support.

Latest Analysis - High Courts

BEST CYBERCITY (INDIA) PVT. LTD. vs ITO

BEST CYBERCITY (INDIA) PVT. LTD. vs ITO

BEST CYBERCITY (INDIA) PVT. LTD. vs ITO Read More
PUNEET SHARMA vs UNION OF INDIA & ORS

PUNEET SHARMA vs UNION OF INDIA & ORS

PUNEET SHARMA vs UNION OF INDIA & ORS Read More
CIT vs HONDA CARS INDIA LTD.

CIT vs HONDA CARS INDIA LTD.

CIT vs HONDA CARS INDIA LTD. Read More
PCIT vs. ROYAL AND SUN ALLIANCES IT SOLUTIONS (INDIA) PVT. LTD.

PCIT vs. ROYAL AND SUN ALLIANCES IT SOLUTIONS (INDIA) PVT. LTD.

PCIT vs. ROYAL AND SUN ALLIANCES IT SOLUTIONS (INDIA) PVT. LTD. Read More
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36

Forum Features

Latest Case Laws
Latest Case Laws are instantly updated in the Forum into their respective section
Latest from CBDT
Latest Circulars, Notifications, Orders etc. from CBDT is updated in the Forum
Ask Experts
You can ask questions to the community
Support
Support queries are either replied via mail or in the Forum so that others can be benefited
Press Releases
Latest Press Notes and Press Releases are updated in the Forum
Connect with Members
You can connect with our community members by replying to their queries

Recommended Articles

 

SITE INFORMATION

All content herein is the copyright of Taxpundit. No images, text, or any other content may be, reproduced or redistributed without the express written consent of Taxpundit.

All Rights Reserved. All Content Copyright.

Newsletter

Subscribe to our newsletter and stay updated on the latest developments and special offers!

Company Master Data Since 1900. More than 1.75 Million Records. Register/Login to get FREE access. Read more
Toggle Bar