The ITO, Ward-5(3)(1), Ahmedabad V. Shri Kshitin Pravinbhai Sheth, Ahmedabad

ITA 1001/AHD/2016

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 7998 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 7 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-12-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2007-2008
• Appeal Filed On: 21-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R P MAURYA
• Assessee Lawyers: SAUMYA SHETH
• Keywords: Bogus purchase; Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD SMC BENCH AHMEDABAD BEFORE, SHRI N. K. BILLAIYA , ACCOUNTANT MEMBER AND SHRI S. S. GODARA, JUDICIAL MEMBER ITA NO. 1001/AHD/2016 WITH CO NO. 78/AHD/2016 (ASSESSMENT YEAR: 2007-08) INCOME-TAX OFFICER, WARD-5(3)(1), ROOM NO. 128, 1 ST FLOOR, NARAYAN CHAMBERS, NR. NEHRU BRIDGE, ASHRAM ROAD, AHMEDABAD-380009 APPELLANT VS. SHRI KSHITIN PRAVINBHAI SHETH, 3, DHARMISHTANAGAR SOCIETY, NEW SHARDA MANDIR ROAD, PALDI, AHMEDABAD 380007 RESPO NDENT/CROSS OBJECTOR PAN: ACEPS6989E /BY REVENUE : R. P. MAURYA, SR. D.R. /BY ASSESSEE : SAUMYA SHETH, A.R. /DATE OF HEARING : 12.12.2017 /DATE OF PRONOUNCEMENT : 18.12.2017 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS REVENUES APPEAL AND ASSESSEES CROSS OBJECTIO N FOR ASSESSMENT YEAR 2007-08 ARISE AGAINST THE CIT(A)-5, AHMEDABADS ORD ER DATED 10.02.2016 IN CASE NO. CIT(A)-5/ITO.WD.11(1)/409/2014-15, IN PROCEEDIN GS U/S. 143(3) R.W.S. 147 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. 2. THE REVENUES SUBSTANTIVE GROUND PLEADED IN THE INSTANT APPEAL CHALLENGES THE CIT(A)S ORDER RESTRICTING THE DISALLOWANCE OF THE BOGUS PURCHASES TO 5% WHEN ITA NO. 1001/AHD/16 WITH 78/AHD/16 [ITO VS. SHRI KS HITIN P. SHETH] A.Y. 2007-08 - 2 - THE ASSESSEE HAS NOT DISCHARGED HIS PRIMARY ONUS OF PROVING THE GENUINENESS OF THE ENTIRE PURCHASES. THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN RS.10 LACS. WE FIND THAT THE CENTRAL BOA RD OF DIRECT TAXES; HEREAFTER THE BOARD HAS ISSUED THE CIRCULAR NO. 21/2015 DATED 1 0.12.2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENTS PENDING APPEALS BEFORE TH E TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CIRCU LAR. THE SAME HAS BEEN DECLARED TO BE HAVING RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION THE ABOVE STATED BOARDS CIRCULAR AND DISMISS THE INSTANT APPEAL ACCORDINGLY. 3. WE COME TO ASSESSEES CROSS OBJECTION NO.78/AHD/201 6. LD. COUNSEL STATED THAT HE IS NOT PRESSING THE SAME SINCE REVEN UES APPEAL IS BEING DECLINED. 4. THE REVENUES APPEAL ITA NO.1001/AHD/2016 IS DIS MISSED AS HAVING LOW TAX EFFECT AND ASSESSEES CROSS OBJECTION I.E. C.O. NO.78/AHD/2016 IS DISMISSED AS NOT PRESSED. [PRONOUNCED IN THE OPEN COURT ON THIS THE 18 TH DAY OF DECEMBER, 2017.] SD/- SD/- ( N. K. BILLAIYA ) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEM BER AHMEDABAD: DATED 18/12/2017 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 45 / GUARD FILE. BY ORDER / . // . /0