The ITO, Ward-5(2), Ahmedabad V. Unipon India Ltd., Ahmedabad

ITA 1544/AHD/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 9696 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 6 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 22-01-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 12-07-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DINESH SINGH
• Keywords: Cost of acquisition; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH (BEFORE SHRI S.K. YADAV, JUDICIAL MEMBER & SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER) ITA. NO: 1544/AHD/2012 (ASSESSMENT YEAR: 2009-10) THE ITO, WARD-5(2), AHMEDABAD V/S M/S. UNIPON INDIA LTD. SHOP NO. 1, 163, PATEL VAS, OPP. PETROL PUMP, MEMNAGAR AHMEDABAD- 380052 (APPELLANT) (RESPONDENT) PAN: AAACU1997K APPELLANT BY : SHRI DINESH SINGH, SR. D.R . RESPONDENT BY : SHRI SUNIL TALATI, A.R. ( )/ ORDER DATE OF HEARING : 22 -01-201 6 DATE OF PRONOUNCEMENT : 22 -01-2016 PER N.K. BILLAIYA, ACCOUNTANT MEMBER: 1. THIS APPEAL BY THE REVENUE IS PREFERRED AGAINST THE ORDER OF LD. CIT(A)-XIV, AHMEDABAD DATED 13.04.2012 PERTAINING T O A.Y. 2009-10. ITA NO. 1544 /AHD/2012 . A.Y. 2009-20 10 2 2. THE SOLE GRIEVANCE OF THE REVENUE RELATES TO THE DI RECTION OF THE LD. CIT(A) TO ALLOW THE COST OF ACQUISITION OF LAND AT RS. 3,98,615/- AS CLAIMED BY THE ASSESSEE AND COMPUTE THE LONG TERM C APITAL GAINS ACCORDINGLY. 3. AT THE VERY OUTSET, IT WAS POINTED OUT THAT THE TAX EFFECT IN THIS CASE IS LESS THAN RS. 10 LACS AND, THEREFORE, THIS APPEAL O F THE REVENUE IS COVERED BY CBDT CIRCULAR NO. 21/2015. THE D.R. FAIR LY CONCEDED TO THIS. 4. ON THIS CONCESSION, WE DISMISS THIS APPEAL BEING HI T BY CBDT CIRCULAR NO. 21/2015 DATED 10.12.2015. 5. HOWEVER, IF THE REVENUE FINDS THAT THE SAID CIRCULA R IS NOT APPLICABLE, IT MAY APPROACH THE TRIBUNAL AS PER THE PROVISIONS OF LAW. AS OF NOW, THIS APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 22 - 01 - 2016. SD/- SD/- (S. K. YADAV) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD: TRUE COPY RAJESH COPY OF THE ORDER FORWARDED TO: - 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT (APPEALS) 4. THE CIT CONCERNED. 5. THE DR., ITAT, AHMEDABAD. 6. GUARD FILE. BY ORDER DEPUTY/ASSTT.REGISTRAR ITAT,A HMEDABAD