The ITO, Ward-9(4), Ahmedabad V. Shri Vishal Dilip Palani, Ahmedabad

ITA 1341/AHD/2013

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 2098 (ITAT-AHMEDABAD)
• Duration Of Justice: 5 year(s) 6 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-11-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 30-08-2017
• Assessment Year: 2009-2010
• Appeal Filed On: 08-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K DEV
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

, A IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMEBR ./ I.T.A. NO. 1341/AHD/2013 ( ASSESSMENT YEAR : 2009-10) INCOME TAX OFFICER WARD-9(4), AHMEDABAD / VS. SHRI VISHAL DILIP PALANI 803, SARVESHWAR TOWER, OPP. JAY AMBE NAGAR, B/H. LOVE-KUSH TOWER, AHMEDABAD-380054 ./ ./ PAN/GIR NO. : ALOPP0931E ( APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI S. K. DEV, SR. D.R. / RESPONDENT BY : NONE DATE OF HEARING 01/11/2018 !'# / DATE OF PRONOUNCEMENT 14/11/2018 / O R D E R PER PRADIP KUMAR KEDIA - AM: THE CAPTIONED APPEAL HAS BEEN FILED AT THE INSTANCE OF THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-XV, AHMEDABAD (CIT(A) IN SHORT), DATED 04.02.2013 ARISING IN THE ASSESSMENT ORDER DATED 05.12.2011 PA SSED BY THE ITA NO. 1341/AHD/13 [ITO VS. SHRI VISHAL D. PALANI) A.Y. 2009-10 - 2 - ASSESSING OFFICER (AO) UNDER S. 143(3) OF THE INCOM E TAX ACT, 1961 (THE ACT) CONCERNING ASSESSMENT YEAR 2009-10. 2. THE GROUNDS OF APPEAL RAISED BY THE REVENUE REA DS AS UNDER:- 1A). THE LD. COMMISSIONER OF INCOME-TAX (APPEAL S)-XV, AHMEDABAD HAS ERRED IN IN LAW AND ON FACTS IN DELETING THE DISALLOWANCE OF RS.39,40,726/- OUT OF TOTAL DISALLOWANCE OF RS.55,33,807/- MADE ON ACCOUN T OF UNEXPLAINED CASH DEPOSITED IN BANK BY GIVING TELESCOPING BENEFIT OF THE FREIGHT RECEIPT AMOUNTING TO RS.65,40,056/- HAS BEEN DEEMED TO HAVE RECEIVED IN CASH BY THE CIT(A) WITHOUT VERIFICATION OF CASH BOOK/RECEIP T BOOK. 1B). THE LD. COMMISSIONER OF INCOME-TAX (APPEALS )-XV, AHMEDABAD HAS ERRED IN LAW AND ON FACTS IN DELETING THE ABOVE DISALLOWA NCE WHEN CASH WITHDRAWALS FROM BANK ACCOUNT HAVE NOT BEEN CORRELA TED WITH CASH DEPOSIT IN BANK. 2). THE LD. COMMISSIONER OF INCOME-TAX (APPEAL S)-XV, AHMEDABAD HAS ERRED IN LAW AND ON FACT? IN DELETING THE ADDITION OF RS. 5,14,310/- MADE U/S.68 OF THE ACT WITHOUT CONFIRMATION OF SUCH BANK LOAN. 3. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD.AR FOR THE ASSESSEE THAT THE APPEAL FILED BY THE REVENUE I S HIT BY RECENTLY ISSUED CBDT CIRCULAR NO.3 OF 2018 DATED 11/07/2018 REVISING 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.20 LAKHS. IN THE INSTANT CASE, THE T AX EFFECT ON THE DISPUTED ISSUES RAISED BY THE REVENUE IS STATED TO BE NOT ITA NO. 1341/AHD/13 [ITO VS. SHRI VISHAL D. PALANI) A.Y. 2009-10 - 3 - EXCEEDING RS.20 LAKHS AND THEREFORE APPEAL OF THE R EVENUE IS REQUIRED TO BE DISMISSED IN LIMINE . 4. THE LEARNED DR FOR THE REVENUE FAIRLY ADMITTED T HE APPLICABILITY OF THE CBDT CIRCULAR NO. 3 OF 2018. A CCORDINGLY, 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/- (MAHAVIR PRASAD) (PRADIP KUMA R KEDIA) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD: DATED 14/11/2018 S. K. SINHA !'#' / COPY OF ORDER FORWARDED TO:- &. / REVENUE 2. / ASSESSEE (. )*+ , / CONCERNED CIT 4. ,- / CIT (A) /. 012 33*+4 *+#4 56) / DR, ITAT, AHMEDABAD 7. 289 / GUARD FILE. BY ORDER / 4 TRUE COPY /5 *+#4 56) THIS ORDER PRONOUNCED IN OPEN COURT ON /11/201 8