DCIT, Jaipur V. CHANDI RAM NARU MAL & SONS, Ajmer

ITA 1060/JPR/2010

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 47926 (ITAT-JAIPUR)
• Duration Of Justice: 10 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-06-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 18-08-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: ADJ APPLICATION REJE CTED
• Keywords: Tax effect

Judgement Text

1 ITA 1060-10 IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH A JAIPUR BEFORE SHRI R.K. GUPTA AND SHRI N.L. KALRA ITA NO. 1060/JP/2010 ASSTT. YEAR : 2007-08. THE DCIT, CIRCLE-1, VS. M/S.CHANDI RAM NARU MAL & SONS, AJMER. MADAR GATE, AJMER. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI SANJAY KUMAR RESPONDENT BY : ADJ. APPLICATION REJE CTED. ORDER DATE OF ORDER : 24/06/2011. PER R.K. GUPTA, J.M. THIS IS AN APPEAL BY DEPARTMENT AGAINST THE ORDER OF LD. CIT (A) RELATING TO ASSESSMENT YEAR 2007-08. THE DEPARTMENT IS OBJECTING IN DELETING THE ADDITIO N OF RS. 8,28,803/- MADE ON ACCOUNT OF LONG TERM CAPITAL GAIN. 2. AFTER HEARING BOTH THE PARTIES AS WELL AS THE M ATERIALS AVAILABLE ON RECORD, THE BENCH NOTED THAT TAX EFFECT IN THE PRESENT CASE OF THE DEPARTMENTAL APPEAL IS LESS THAN RS. 2.00 LACS, WHICH IS NOT MAINTAINABLE IN VIEW OF THE NEWLY INSERTED PROVISIONS OF SECTION 268A OF THE ACT, CBDT INSTRUCTION AND THE DECISION IS THIS BENCH IN THE CASE OF ITO VS. SMT. GEETA DEVI GOYAL, 120 TTJ 136. THEREFORE, THE SOLITARY GROUND OF THE REVENUE IS DISMISSED. 3. IN THE RESULT, APPEAL OF THE DEPARTMENT IS DISMI SSED. 2 4. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 24. 6.2011. SD/- SD/- ( N.L. KALRA ) ( R.K. GUPTA ) ACCOUNTANT MEMBER JUDICIAL MEMBER JAIPUR, D/- COPY FORWARDED TO :- THE DCIT, CIRCLE-1, AJMER. M/S.CHANDI RAMNARU MAL & SONS, AJMER. THE CIT (A) THE CIT THE D/R GUARD FILE (ITA NO. 1060/JP/2010) BY ORDER, AR ITAT JAIPUR.