The ACIT,Valsad Circle, Valsad V. Shri Shrenik Shantilal Maniar, Valsad

ITA 1227/AHD/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 9911 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 6 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 30-12-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 06-06-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DINESH SINGH
• Assessee Lawyers: R M UPADHYAY
• Keywords: Audit objection; Tax effect
• Section: 68

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI KUL BHARAT, JUDICIAL MEMBER ./ ITA NO. 1227/AHD/2012 ASSISTANT COMMISSIONER OF INCOME-TAX, VALSAD CIRCLE, VALSAD VS SHRI SHRENIK SHANTILAL MANIAR, 503, PARAGJI TOWER, HALAR ROAD, VALSAD PAN : ADBPM 2760 M / (APPELLANT) / (RESPONDENT) REVENUE BY : SHRI DINESH SINGH, SR.DR ASSESSEE(S) BY : SHRI R.M. UPADHYAY, AR / DATE OF HEARING : 30/12/2015 ! / DATE OF PRONOUNCEMENT: 01/01/2016 / O R D E R PER SHRI KUL BHARAT, JUDICIAL MEMBER:- THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS), V ALSAD DATED 29.02.2012 FOR ASSESSMENT YEAR 2008-09, CONFI RMING THE ADDITION MADE BY THE ASSESSING OFFICER U/S. 68 OF T HE ACT AMOUNTING TO RS.13,79,530/-. 2. AT THE OUTSET, THE LEARNED COUNSEL FOR THE ASSE SSEE CONTENDED THAT AS PER CENTRAL BOARD OF DIRECT TAXES CIRCULAR NO. 21/2015 IN F.NO.279/MISC. 142/2007-ITJ (PT) DATED 10TH DECEMBER 2015, THE REVISED LIMIT FOR PREFERRING REVENUE'S APPEALS IS R S. 10 LACS. HE SUBMITTED THAT THE TAX EFFECT IN THE PRESENT REVENU E'S APPEAL IS RS.4,35,448/- WHICH IS BELOW THE PRESCRIBED LIMIT O F RS. 10 LACS. HE HAS ALSO SUBMITTED A WORKING OF THE TAX EFFECT. HE, T HEREFORE, PLEADED THAT ITA NO. 1227/AHD/2012 ACIT VS. SHRI SHRENIK SHANTILAL MANIAR AY 2008-09 2 IN VIEW OF THE CBDT CIRCULAR, THE REVENUE'S APPEAL MAY BE DISMISSED AS THE TAX EFFECT BEING BELOW THE PRESCRIBED LIMIT. 3. THE LD. DEPARTMENTAL REPRESENTATIVE COULD NOT CO NTROVERT THE AFORESAID SUBMISSIONS OF THE LD. COUNSEL FOR THE AS SESSEE. 4. WE HAVE HEARD BOTH THE SIDES AND PERUSED THE MAT ERIAL PLACED BEFORE US. WE FIND THAT THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE IN VIEW OF CBDT CIRCULAR NO. 21/2015 IN F.NO.279/MI SC. 142/2007-ITJ (PT) DATED 10TH DECEMBER 2015, VIDE WHICH IT HAS BE EN PROVIDED THAT IF THE TAX EFFECT BY VIRTUE OF THE COMMISSIONER OF INC OME-TAX (APPEALS)S ORDER IS BELOW RS. 10 LAKHS, THEN THAT ORDER WOULD NOT BE CHALLENGED BEFORE THE TRIBUNAL IN FURTHER APPEAL. THE BOARD H AS PROVIDED EXEMPTIONS AT CLAUSE (8) OF THE INSTRUCTIONS WHEREI N IT HAS BEEN PROVIDED THAT THESE INSTRUCTIONS WILL NOT BE APPLIC ABLE, IF VIRES OF ANY PROVISIONS HAS BEEN QUASHED BY IMPUGNED ORDER OR AD DITION WAS MADE ON SOME AUDIT OBJECTIONS OR THE ADDITION RELATES TO UNDISCLOSED FOREIGN ASSETS/BANK ACCOUNTS, ETC. WE FIND THAT THE PRESENT CASE DOES NOT FALL WITHIN THE EXEMPTION CLA USE AND THE TAX IS LESS THAN RS. 10 LAKHS. THEREFORE, THE PRESENT APP EAL IS NOT MAINTAINABLE AND HENCE DISMISSED. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED IN LIMINE. ORDER PRONOUNCED IN THE COURT ON 01 JANUARY, 2016 A T AHMEDABAD. SD/- SD/- (ANIL CHATURVEDI) ACCOUNTANT MEMBER (KUL BHARAT) JUDICIAL MEMBER AHMEDABAD; DATED 01/01/2016 *BIJU T. ITA NO. 1227/AHD/2012 ACIT VS. SHRI SHRENIK SHANTILAL MANIAR AY 2008-09 3 / COPY OF THE ORDER FORWARDED TO : 1. #$ / THE APPELLANT 2. %&#$ / THE RESPONDENT. 3. '' ( / CONCERNED CIT 4. ( ( ) / THE CIT(A) 5. +,-%.. , , / DR, ITAT, AHMEDABAD 6. -012 / GUARD FILE. / BY ORDER, TRUE COPY / ( DY./ASSTT.REGISTRAR) ' #$%, / ITAT, AHMEDABAD