ACIT, Circle– 11(3)(2), Mumbai v. Viditi Investment Pvt. Ltd
[Citation -2019-LL-0828-219]
| Citation | 2019-LL-0828-219 |
|---|---|
| Appellant Name | ACIT, Circle– 11(3)(2), Mumbai |
| Respondent Name | Viditi Investment Pvt. Ltd. |
| Court | ITAT-Mumbai |
| Relevant Act | Income-tax |
| Date of Order | 28/08/2019 |
| Assessment Year | 2014-15 |
| Judgment | View Judgment |
| Keyword Tags | low tax effect • suo moto disallowance |
| Bot Summary: | On the facts and in the circumstances of the case and in law, the learned CIT(A) has ignored that the decision given in assessment for the earlier year are not binding either on the assessee or the department in subsequent year. In the 2 ITA.NO.876/MUM/2018 M/s. Viditi Investment Pvt. Ltd., decision of Radhasaomi Satsang, the Hon'ble Supreme Court acknowledged that there is no res judicata, as regards assessment orders and assessment for one year may not bind the officer for the next year. At the outset, Ld. Counsel for the assessee submits that identical issue has come up in assessee s own case for the earlier Assessment Years i.e. A.Y. 2011-12 to 2013-14 and Tribunal for the A.Y. 2011-12 restricted the disallowance u/s. Ld. Counsel for the assessee submits that in so far as the A.Y.2012-13 and 2013-14 are concerned the Tribunal dismissed the appeals of the Revenue in ITA.No. On a perusal of the Assessment Order, we find that the Assessing Officer while completing the assessment made disallowance u/s. The CBDT in its recent Circular No.17/2019 dated 08.08.2019 amended its earlier Circular No. 3 of 2018 dated 11.07.2018 and revised the monetary limits for filing of appeals in income tax cases by the Revenue as under: 3 ITA.NO.876/MUM/2018 M/s. Viditi Investment Pvt. Ltd., Appeals/SLPs in Income- S.No. Before Supreme Court 2.00.00,000 Since in this case the tax effect in the Revenue s appeal is less than.50 Lakhs the Circular No. 17/2019 dated 08.08.2019 applies and the Revenue s appeal is liable to be dismissed as withdrawn. |