The ITO, Ward-5(2), Ahmedabad V. M/s. Pel Industries Limited, Vadodara

ITA 1045/AHD/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 0886 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 3 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-08-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2011-2012
• Appeal Filed On: 24-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: Y K BATRA
• Keywords: Bogus purchase; Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH BEFORE: SHR I S. S. GODARA , JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER THE ITO, WARD - 5(2), AHMEDABAD (APPELLANT) VS M/S. PEL INDUSTRIES LTD, 301, AADI, NR. P.F. OFFICE, AKOTA STADIUM ROAD, VADOD A R A - 390020 PAN: AAECP2220N (RESPONDENT) REVENUE BY : S H RI PRASOON KABRA , SR. D . R. ASSESSEE BY: S H RI Y.K. BATRA , A.R. DATE OF HEARING : 04 - 08 - 2 016 DATE OF PRONOUNCEMENT : 17 - 08 - 2 016 / ORDER P ER : AMARJIT SINGH, ACCOUNTANT MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 2011 - 12 , AR IS ES FROM ORDER OF THE CIT(A) - 9, AHMEDABAD DATED 01 - 01 - 2015 IN APPEAL NO. CIT(A) - XI/481 / WD - 5(2)/13 - 14 , IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T A NO . 1045 / A HD/20 15 A S SESSMENT YEAR 2011 - 12 I .T.A NO. 1045 /AHD/20 15 A.Y. 2011 - 12 PAGE NO ITO VS. PEL INDUSTRIES LTD 2 2. THE REVENUE S SO LE SUBSTANTIVE GROUND CHALLENGES THE LOWER APPELLATE ORDER DELETING THE ADDITION ON ACCOUNT OF BOGUS PURCHASES OF RS. 21,18,424 / - MADE IN ASSESSMENT ORDER DATED 29 - 03 - 2014 . THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN RS . 10 LACS. WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES; HEREAFTER THE BOARD HAS ISSUED THE CIRCULAR NO. 21/2015 DATED 10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRES SED AS PER THE ABOVE STATED CIRCULAR. THE SAME HAS BEEN DECLARED TO BE HAVING RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION THE ABOVE STATED BOARD S CIRCULAR AND DISMISS THE INSTANT APPEAL ACCORDINGLY. 3. THIS REVENUE S APPEAL IS DISMI SSED AS HAVING LOW TAX EFFECT. ORDER PR ONOUNCED IN THE OPEN C OURT ON 17 - 08 - 201 6 SD/ - SD/ - ( S.S. GODARA ) ( AMARJIT SINGH) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD : DATED 17 /08 /2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. I .T.A NO. 1045 /AHD/20 15 A.Y. 2011 - 12 PAGE NO ITO VS. PEL INDUSTRIES LTD 3 BY ORDER/ , / ,