DCIT, Mohali V. M/s H.P. Singh & Others, Mohali

ITA 152/CHANDI/2014

• Counselvise Citation: 15221514 RSA 2014
• Duration Of Justice: 1 year(s) 10 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 21-12-2015
• Assessment Year: 2010-2011
• Appeal Filed On: 05-02-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCHES, CHANDIGARH BEFORE SHRI H.L.KARWA, HON'BLE VICE PRESIDENT & MS. ANNAPURNA MEHROTRA, ACCOUNTANT MEMBER ITA NO. 152/CHD/2014 ASSESSMENT YEAR: 2010-11 THE DCIT, VS. M/S H.P. SINGH & OTHERS, CIRCLE 6(1), MOHALI MOHALI PAN NO. AAEFH8681G (APPELLANT) (RESPONDENT) APPELLANT BY : SH. MANOJ MISHRA RESPONDENT BY : SH. ATUL GOYAL DATE OF HEARING : 21.12.2015 DATE OF PRONOUNCEMENT : 21.12.2015 . ORDER PER H.L.KARWA, VP THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINS T THE ORDER OF CIT(A), CHANDIGARH DATED 04.11.2013 RELATING TO ASSESSMENT YEAR 2010-11. 2. IN THIS APPEAL THE REVENUE HAS RAISED THE FOLLOW ING GROUNDS:- 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE AND IN LAW, THE CIT(A) HAS ERRED IN ALLOWING APPEAL OF THE ASSESSEE WITHOUT APPRECIATING THE FACTS OF THE CASE. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS. 25,00,000 /- SINCE IT HAS BEEN CLEARLY ESTABLISHED IN THE AO AS WELL AS THE REMA ND REPORT THAT THE EVIDENCES PRODUCED BY THE ASSESSEE COULD NOT BE COR ROBORATED ON 2 VERIFICATION AND THAT THE TRANSACTION MENTIONED BY THE ASSESSEE WAS A SHAM TRANSACTION. 3. WE HAVE HEARD MANOJ MISHRA LD. DR AND ATUL GOYAL , LD. COUNSEL FOR THE ASSESSEE. IT IS OBSERVED THAT IN THIS CASE THE TA X EFFECT DOES NOT EXCEED THE MONETARY LIMIT OF RS. 10 LAKHS. THUS, IN VIEW OF CI RCULAR NO. 21/2015 DATED 10.12.2015, F.NO. 279/MISC.142/2007-ITJ(PT), GOVERN MENT. OF INDIA, MINISTRY OF FINANCE, DEPARTMENT OF REVENUE, CENTRAL BOARD OF DIRECT TAXES, THE INSTANT APPEAL DESERVES TO BE TREATED AS WITHDRAWN / NOT PR ESSED. VIDE PARA 10 OF THE ABOVE INSTRUCTIONS, THE CBDT HAS CLARIFIED THAT THI S INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO B E FILED HENCEFORTH IN ITAT. THE CBDT HAS FURTHER CLARIFIED THAT THE PENDING APP EALS BEFORE THE TRIBUNAL BELOW THE SPECIFIED TAX LIMITS I.E. RS. 10 LAKHS MA Y BE WITHDRAWN / NOT PRESSED BY THE REVENUE. IT IS ALSO OBSERVED THAT THE ISSUE S INVOLVED IN THIS APPEAL ARE NOT COVERED BY PARA 8 OF THE ABOVE INSTRUCTIONS. A CCORDINGLY, THE APPEAL FILED BY THE REVENUE IS TREATED AS WITHDRAWN / NOT PRESSE D. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 21.12.2015 SD/- SD/- (ANNAPURNA MEHROTRA) (H.L.KARWA) ACCOUNTANT MEMBER VICE PRESIDENT DATED 21 ST DECEMBER, 2015 RKK COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR