The ITO, Ward-9(1), Ahmedabad V. M/s. Satyam Corporation, Ahmedabad

ITA 1175/AHD/2012

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 9191 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 8 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-02-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 23-02-2017
• Assessment Year: 2007-2008
• Appeal Filed On: 29-05-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH BEFORE: SHRI RAJPAL YADAV , JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER THE ITO, WARD - 9(1) (APPELLANT) VS M/S SATYAM CORPORATION ROYAL BUNGLOWS, NIKOL NARODA ROAD, AHMEDABAD - 382330 PAN: ABGFS9803E (RESPONDENT) REVENUE BY : S H RI MUDIT NAGPAL , SR. D . R. A SSESSEE BY: S H RI SANKET SHAH , A.R. DATE OF HEARING : 23 - 02 - 2 017 DATE OF PRONOUNCEMENT : 23 - 02 - 2 017 / ORDER P ER : AMARJIT SINGH, ACCOUNTANT MEMBER : - THIS REVENUE S AP PEAL FOR A.Y. 2007 - 08 , AR ISES FROM ORDER OF THE CIT(A) - X V, AHMEDABAD DATED 26 - 03 - 2012 IN APPEAL NO. CIT(A) - XV/9(1)/204/09 - 10 , IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T A NO . 1175 / A HD/20 1 2 A SSESSMENT YEAR 2007 - 08 I.T.A NO. 1175/AHD/2012 A.Y. 2007 - 08 PAGE NO ITO VS . M/S. SATYAM CORPORATION 2 2. THE REVENUE S SOLE SUBSTANTIVE GROUND CHA LLENGES THE LOWER APPELLATE ORDER ALLOWING ASSESSEE S CLAIM FOR DEDUCTION OF RS. 9,94,647/ - U/S. 80IB(10) MADE IN ASSESSMENT ORDER DATED 10 - 12 - 2009. THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN RS. 10 LACS. WE FIND THA T THE CENTRAL BOARD OF DIRECT TAXES; HEREAFTER THE BOARD HAS ISSUED THE CIRCULAR NO. 2 1/2015 DATED 10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE S T ATED CIRCULAR .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 DISMISSED AS HAVING LOW TAX EFFECT. ORDER PR ONOUNCED IN THE OPEN C OURT ON 23 - 02 - 201 7 SD/ - SD/ - ( RAJPAL YADAV ) ( AMARJIT SINGH ) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD : DATED 23 /02 /2017 / 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. 1175/AHD/2012 A.Y. 2007 - 08 PAGE NO ITO VS . M/S. SATYAM CORPORATION 3 BY ORDER/ , / ,