The ITO, Ward-4(3), Surat V. M/s. Sohil Paper & Packaging Pvt.Ltd., Surat

ITA 1248/AHD/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 1868 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 11 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-04-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 05-04-2016
• Assessment Year: 2006-2007
• Appeal Filed On: 03-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NARENDRA SINGH
• Assessee Lawyers: P S PARMAR
• Keywords: Retrospective amendment; Tax effect
• Section: 54; 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH BEFORE: S H RI PRAMOD KUMAR , ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER THE ITO, WARD 4(3), ROOM NO. 220, AAYAKAR BHAWAN, MAJURA GATE, SURAT (APPELLANT) VS M/S. SOHIL PAPER & PACKAGING PVT. LTD., 505, CITY CENTRE, BUILDING NR. SOSYO CIRCLE, UDHNA MAGDALAL ROAD, SURAT PAN: AAFCS4224G (RESPONDEN T) REVENUE BY : S H RI NARENDRA SINGH , SR. D . R. ASSESSEE BY: S H RI P.S. PARMAR , A.R. DATE OF HEARING : 05 - 04 - 2 016 DATE OF PRONOUNCEMENT : 15 - 04 - 2 0 16 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 200 6 - 07 , AR ISES FROM ORDER OF THE CIT(A) - II, SURAT DATED 19 - 02 - 2013 IN APPEAL NO. CAS - II//368/2011 - 12 , IN PROCEEDINGS UNDER SECTION 1 54 OF THE INCOME TAX ACT, 1961; IN SHOR T THE ACT . I T A NO . 1248 / A HD/20 13 A SSESSMENT YEAR 200 6 - 07 I.T.A NO.1248 /AHD/20 13 A.Y. 2006 - 07 PAGE NO ITO VS. M/S. SOHIL PAPER & PACKAGING PVT. LTD 2 2. THE REVENUE S SOLE GROUND READS THAT THE CIT(A) HAS ERRED IN ALLOWING CAR RY FORWARD OF UNABSORBED DEPRECIA TION OF RS. 7,47,711/ - CLAIMED BY THE ASSESSEE. BOTH PARTIES AGREE THAT THE NET TAX EFFECT INVOLVED IN THE INSTANT APPEAL IS LESS THA N 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10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CIRCULAR.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 DISMISSED AS HAVING LOW TAX EFFECT. ORDER PR ONOUNCED IN THE OPEN C OURT ON 15 - 04 - 201 6 SD/ - SD/ - ( PRAMOD KUMAR ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 1 5 /04 /2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , I.T.A NO.1248 /AHD/20 13 A.Y. 2006 - 07 PAGE NO ITO VS. M/S. SOHIL PAPER & PACKAGING PVT. LTD 3 / ,