The ITO, Ward-2(2)(1), Ahmedabad V. M/s. Apex Dyes & Intermediates, Ahmedabad

ITA 143/AHD/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 7972 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 11 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-12-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 13-01-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: R C SHAH
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH AHMEDABAD BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ITA NOS. 143 & 144/AHD/2015 (ASSESSME NT YEARS: 2008-09 & 2009-10) THE INCOME-TAX OFFICER, WARD-2(2)(1), AHMEDABAD, 1 ST FLOOR, C. U. SHAH BLDG., ASHRAM ROAD, AHMEDABAD- 380009 APPELLAN T VS. M/S. APEX DYES & INTERMEDIATES, 7-B, AJANTA COMMERCIAL CENTRE, ASHRAM ROAD, AHMEDABAD - 380014 RE SPONDENT PAN: AADFA2959F /BY REVENUE : SHRI KEYUR PATEL, SR. D.R. /BY ASSESSEE : SHRI R. C. SHAH, A.R. /DATE OF HEARING : 13.12.2017 /DATE OF PRONOUNCEMENT : 13.12.2017 ORDER PER BENCH THESE TWO REVENUES APPEALS FOR ASSESSMENT YEARS 20 08-09 & 2009-10 ARISE AGAINST THE CIT(A)-XIV, AHMEDABADS SEPARATE ORDERS DATED 17.10.2014 & 16.10.2014, IN CASE NOS. CIT(A)-XIV/WARD-7(3)/398/2 013-14 & CIT(A)- XIV/WARD/7(3)/397/2013-14; RESPECTIVELY, IN PROCEED INGS U/S. 143(3) R.W.S. 147 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. ITA NOS. 143 & 144/AHD/15 [ITO VS. M/S. APEX DYES & INTERMEDIATES] A.YS. 2008-09 & 2009-10 - 2 - 2. THE REVENUES SUBSTANTIVE GROUND PLEADED IN THE BOTH APPEALS CHALLENGES THE CIT(A)S ORDER DELETING THE DISALLOWANCE OF INT EREST EXPENSE AMOUNTING TO RS.14,48,432/- IN A.Y. 2008-09 AND RS.19,36,829/- I N A.Y. 2009-10. THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN BOTH APPEALS IS LESS THAN RS.10 LACS. WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES; HEREAFTER THE B OARD HAS ISSUED THE CIRCULAR NO. 21/2015 DATED 10.12.2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENTS PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE W ITHDRAWN/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 ABO VE STATED BOARDS CIRCULAR AND DISMISS BOTH THE APPEALS ACCORDINGLY. 3. REVENUES BOTH APPEALS ARE DISMISSED AS HAVING L OW TAX EFFECT. [PRONOUNCED IN THE OPEN COURT ON THIS THE 13 TH DAY OF DECEMBER, 2017.] SD/- SD/- ( PRADIP KUMAR KEDIA ) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL M EMBER AHMEDABAD: DATED 13/12/2017 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 / GUARD FILE. BY ORDER / . // . /0