Monarch Comtrade Pvt. Ltd., Ahmedabad V. The Dy.CIT, Circle-3, Ahmedabad

CO 141/AHD/2014

• Counselvise Citation: [2016] 112 COUNSELVISE.COM (IT) 4227 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 2 month(s) 18 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 29-09-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 28-09-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 11-07-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MRUNAL N SHAH
• Keywords: Bad and doubtful debts; Tax effect
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH (BEFORE SHRI N.K. BILLAIYA, ACCOUNTANTMEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER) ITA. NO: 934/AHD/2014 & C.O. NO. 141/AHD/14 (ASSESSMENT YEAR: 2009-10) DY. COMMISSIONER OF INCOME TAX, CIRCLE-3, AHMEDABAD M/S. MONARCH COMTRTADE PRIVATE LIMITED MONARCH HOUSE, NEAR ISHWARBHUVAN, H.L. COMMERCE COLLEGE SIX ROADS, NAVRANGPURA, AHMEDABAD-380009 V/S V/S M/S. MONARCH COMTRTADE PRIVATE LIMITED MONARCH HOUSE, NEAR ISHWARBHUVAN, H.L. COMMERCE COLLEGE SIX ROADS, NAVRANGPURA, AHMEDABAD-380009 DY. COMMISSIONER OF INCOME TAX, CIRCLE-3, AHMEDABAD (APPELLANT) (RESPONDENT) PAN: AAICS2001G APPELLANT BY : SHRI PRASOON KABRA, SR. D. R. RESPONDENT BY : SHRI MRUNAL N. SHAH ( )/ ORDER DATE OF HEARING : 28 -09-201 6 DATE OF PRONOUNCEMENT : 29 -09-2016 ITA NO. 934/AHD/14 & C.O. NO. 141/AHD/14 . A.Y. 2009-10 2 PER N.K. BILLAIYA, ACCOUNTANT MEMBER: 1. ITA NO. 934/AHD/2014 & C.O. NO. 141/AHD/2014 ARE AP PEAL OF THE REVENUE AND CROSS OBJECTION OF THE ASSESSEE FILED A GAINST THE VERY SAME ORDER OF THE LD. CIT(A)-II, AHMEDABAD DATED 02 .01.2014 PERTAINING TO A.Y. 2009-10. 2. BOTH THESE APPEALS WERE HEARD TOGETHER AND ARE DISP OSED OF BY THIS COMMON ORDER FOR THE SAKE OF CONVENIENCE. 3. THE ONLY GRIEVANCE OF THE REVENUE RELATES TO THE DE LETION OF THE DISALLOWANCE OF THE BAD DEBTS AMOUNTING TO RS. 13,5 5,731/-. 4. THE QUANTUM INVOLVED IN THIS GRIEVANCE OF THE REVEN UE ITSELF SHOWS THAT THE TAX EFFECT WOULD BE LESS THAN RS. 10 LACS. THEREFORE, THIS APPEAL BY THE REVENUE HAS TO BE DISMISSED IN THE LI GHT OF THE CBDT CIRCULAR NO. 21 OF 2015 DATED 10.12.2015 WHEREIN TH E CBDT HAS FIXED THE MONETARY LIMIT FOR FILING THE APPEAL BEFORE THE APPELLATE TRIBUNAL IS MORE THAN RS. 10 LACS. APPEAL FILED BY THE REVENUE IS ACCORDINGLY DISMISSED. 5. THE LD. COUNSEL FOR THE ASSESSEE STATED THAT HE IS NOT PRESSING THE CROSS OBJECTION AND THE SAME IS ALSO DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 29 - 09- 201 6. SD/- SD/- (MAHAVIR PRASAD) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD: TRUE COPY