The Dy.Commissioner of Income Tax Circle-1(1)(1), Ahmedabad V. M/s. Asiatic Colour Chem Industries Ltd., Ahmedabad

ITA 1184/AHD/2016

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0708 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 7 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 31-03-2020
• Assessment Year: 2010-2011
• Appeal Filed On: 05-05-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect; Set aside
• Section: 143(3)

Judgement Text

, D IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, AHMEDABAD BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & MS. MADHUMITA ROY, JUDICIAL MEMBER ./I.T.A. NO. 1184/AHD/2016 ( / ASSESSMENT YEAR: 2010-11) DCIT CIR.1(1)(1), AHMEDABAD / VS. M/S. ASIATIC COLOUR CHEM INDUSTRIES LTD. PLOT NO. 1503/1504, GIDC, PHASE-I, NARODA, AHMEDABAD-382330 ./ ./PAN/GIR NO. : AAB CA6 297 R ( /APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI KAMLESH MAKWANA, SR. DR / RESPONDENT BY: SHRI CHETAN AGARWAL, AR !' /DATE OF HEARING 15/12/2019 #$!' / DATE OF PRONOUNCEMENT 22/12/2020 %& /O R D E R PER MS. MADHUMITA ROY - JM: THE APPEAL FILED BY THE REVENUE FOR A.Y. 2010-11, ARISE FROM ORDER OF THE CIT(A)-1, AHMEDABAD DATED 29.02.2016, IN PROCEE DINGS UNDER SECTION 143(3) R.W.S. 144C(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. 2. THE GROUND OF APPEAL RAISED BY THE REVENUE READS AS UNDER:- 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE AND IN LAW, THE CIT(A0 OUGHT TO HAVE UPHELD THE ORDER OF THE ASSESS ING OFFICER TO THE EXTENT MENTIONED ABOVE SINCE THE ASSESSEE HAS FAILE D TO DISCLOSE HIS TRUE INCOME/BOOK PROFIT. 2. THE APPELLANT PRAYS THAT THE ORDER OF CIT(A) ON THE ABOVE GROUNDS BE SET ASIDE AND THAT OF THE ASSESSING OFFI CER BE RESTORED TO ITA NO. 1184/AHD/2016 [DCIT VS. M/S. ASIATIC COLOUR CHEM INDUSTRIES LTD.] A.Y. 2010-11 2 THE ABOVE EXTENT. THE APPELLANT CRAVES, TO LEAVE, TO AMEND OR ALTER ANY GROUND OR ADD A NEW GROUND WHICH MAY BE NECESSARY. 3. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD.AR FOR THE ASSESSEE THAT APPEAL FILED BY THE REVENUE IS HIT BY RECENTLY ISSUED CBDT CIRCULAR NO.17 OF 2019 DATED 08/08/2019 REVISI NG THE PREVIOUS THRESHOLDS PERTAINING TO TAX EFFECTS. AS PER AFORESAID CIRCULAR, ALL PENDING APPEALS FILED BY REVENUE ARE LIABLE TO BE DISMISSED AS A MEASURE FOR REDUCING LITIGATION WHER E THE TAX EFFECT DOES NOT EXCEED THE PRESCRIBED MONETARY LIMIT WHICH IS NOW REVISED AT RS.50 LAKHS. IN THE INSTANT CASE, THE TAX EFFEC T ON THE DISPUTED ISSUES RAISED BY THE REVENUE IS STATED TO BE NOT EX CEEDING RS.50 LAKHS AND THEREFORE APPEAL OF THE REVENUE IS REQUIR ED TO BE DISMISSED IN LIMINE . 4. THE LEARNED DR FOR THE REVENUE FAIRLY ADMITTED T HE APPLICABILITY OF THE CBDT CIRCULAR NO. 17 OF 2019. ACCORDINGLY, APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINA BLE. HOWEVER, IT WILL BE OPEN TO THE REVENUE TO SEEK RESTORATION OF ITS APPEAL ON SHOWING INAPPLICABILITY OF THE AFORESAID CBDT CIRCU LAR IN ANY MANNER. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. SD/- SD/- (PRADIP KUMAR KEDIA) (MADHUMITA ROY) ACCOUNTANT MEMBER JUDICI AL MEMBER AHMEDABAD: DATED 22/12/2020 TANMAY, SR. PS TRUE COPY TRUE TRUE COPY THIS ORDER PRONOUNCED IN OPEN COURT ON 22/12/2020 ITA NO. 1184/AHD/2016 [DCIT VS. M/S. ASIATIC COLOUR CHEM INDUSTRIES LTD.] A.Y. 2010-11 3 / COPY OF ORDER FORWARDED TO:- 1. / REVENUE 2. % / ASSESSEE 3. + ,! -! / CONCERNED CIT 4. -!- / CIT (A) 5. 123 ! ,, ' ,, 56%+% / DR, ITAT, AHMEDABAD 6. 38 9 / GUARD FILE. BY ORDER / %& , :/5 ' ,,56%+% < 1.DATE OF DICTATION ON 15.12.2020 (LOW TAX EFFECT FORMAT) 2.DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE TH E DICTATING MEMBER 15.12.2020 3.DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P.S./P.S. .12.2020 4.DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT .12.2020 5.DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR .P.S./P.S 22.12.2020 6.DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 23.12.2020 7.DATE ON WHICH THE FILE GOES TO THE HEAD CLERK . 8.THE DATE ON WHICH THE FILE GOES TO THE ASSTT. REG ISTRAR FOR SIGNATURE ON THE ORDER 9.DATE OF DESPATCH OF THE ORDER