The Asstt. Commissioner of Income Tax, Circle-2(2), Ahmedabad V. Smt. Anjanaben Narendrakumar Patel, Ahmedabad

ITA 1287/AHD/2017

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2012 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 3 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-09-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 26-05-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect; Set aside
• Section: 271(1)(c); 143(3); 54B

Judgement Text

, B IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ./I.T.A. NO. 1287/AHD/2017 ( / ASSESSMENT YEAR: 2012-13) ACIT CIRCLE-2(2), AHMEDABAD 1 ST FLOOR, C.U. SHAH BLDG., ASHRAM ROAD, AHMEDABAD- 380009 / VS. SMT. ANJANABEN NARENDRAKUMAR PATEL C/203, UTSAV RESIDENCY, OPP. VIJAYA BANK, NEW C.G. ROAD, CHANDKHEDA, AHMEDABAD-382424 ./ ./PAN/GIR NO. : AWF PP4 964 R ( /APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI MUDIT NAGPAL, SR. DR / RESPONDENT BY: NONE !' /DATE OF HEARING 09/08/2019 #$!' / DATE OF PRONOUNCEMENT 06/09/2019 %& /O R D E R PER AMARJIT SINGH - AM: THE APPEAL FILED BY THE REVENUE FOR A.Y. 2012-13, ARISE FROM ORDER OF THE CIT(A)-10, AHMEDABAD DATED 28.03.2017, IN PROCEEDIN GS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. 2. THE GROUND OF APPEAL RAISED BY THE REVENUE READS AS UNDER:- 1. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN DELETING THE PENALTY OF RS. 40,74,010/- LEVIED U/S. 271(1)(C) OF THE ACT ON THE DISALLOWANCE OF DEDUCTION CLAIMED U/S. 54B OF THE ACT AMOUNTING TO RS. 1,08,70,056/- AND DISALLOWANCE OF DEDUCTION CLAIMED U/S.54F AMOUNTING TO RS. 95,00,000/- MADE BY THE AO WITHOUT PROPERLY APPRECIATING THE FA CTS OF THE CASE AND THE MATERIAL BROUGHT ON RECORD. 2. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E, THE LD. CIT(A) OUGHT TO HAVE UPHELD THE ORDER OF THE ASSESSING OFF ICER. ITA NO. 1287/AHD/2017 A.Y. 2012-13 2 3. IT IS, THEREFORE, PRAYED THAT THE ORDER OF THE L D. CIT(A) MAY BE SET ASIDE AND THAT OF THE ASSESSING OFFICER MAY BE REST ORED TO THE ABOVE EXTENT. 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 REVISING TH E PREVIOUS THRESHOLDS PERTAINING TO TAX EFFECTS. AS PER AFORE SAID CIRCULAR, ALL PENDING APPEALS FILED BY REVENUE ARE LIABLE TO BE D ISMISSED AS A MEASURE FOR REDUCING LITIGATION WHERE THE TAX EFFEC T DOES NOT EXCEED THE PRESCRIBED MONETARY LIMIT WHICH IS NOW REVISED AT R S.50 LAKHS. IN THE INSTANT CASE, THE TAX EFFECT ON THE DISPUTED ISSUES RAISED BY THE REVENUE IS STATED TO BE NOT EXCEEDING RS.50 LAKHS AND THERE FORE APPEAL OF THE REVENUE IS REQUIRED 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, A PPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. HOWEVER, IT WILL BE OPEN TO THE REVENUE TO SEEK RESTORATION OF ITS APPEAL ON SH OWING INAPPLICABILITY OF THE AFORESAID CBDT CIRCULAR IN ANY MANNER. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. SD/- SD/- (MAHAVIR PRASAD) (AMARJIT SINGH) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD: DATED 06/09/2019 TANMAY TRUE COPY / COPY OF ORDER FORWARDED TO:- 1. / REVENUE 2. % / ASSESSEE 3. '( ! )! / CONCERNED CIT 4. )! - / CIT (A) 5. *+, ! ( , ' ( , -.%'% / DR, ITAT, AHMEDABAD 6. ,/ 0 / GUARD FILE. BY ORDER / %& , 1 / - ' ( , -.%'% 2 THIS ORDER PRONOUNCED IN OPEN COURT ON 06/ 09/2019