The DCIT, Circle-14, Ahmedabad V. Shri Bharat Kantilal Patel, Ahmedabad

ITA 1762/AHD/2011

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 85695 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 7 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-02-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 05-02-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 04-07-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DINESH SINGH
• Assessee Lawyers: S N DIVETIA
• Keywords: Tax effect

Judgement Text

, A IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD , .. ' , #$ # % BEFORE SHRI MUKUL KR. SHRAWAT, JUDICIAL MEMBER AND SHRI N.S. SAINI, ACCOUNTANT MEMBER ITA NO. 1762/AHD/2011 [ASSTT. YEAR: 2008-09] DCIT, CIR.14 AHMEDABAD. VS SHRI BHARAT KANTILAL PATEL 12, SURAJPARK SOCIETY NR. KARNAVATI SOCIETY CTM, AMRAIWADI AHMEDABAD 380 050. PAN : ABVPP 9908 K &' / (APPELLANT) )* &' / (RESPONDENT) REVENUE BY : SHRI DINESH SINGH, SR.DR ASSESSEE(S) BY : SHRI S.N. DIVETIA, AR / DATE OF HEARING : 05/02/2015 / DATE OF PRONOUNCEMENT: 13/02/2015 #+/ O R D E R PER N.S. SAINI, ACCOUNTANT MEMBER: THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF THE CIT(A)-XXI, AH MEDABAD DATED 18.4.2011 FOR THE ASSTT.YEAR 2008-09. 2. SOLE GROUND OF APPEAL TAKEN BY THE REVENUE IN IT S APPEAL IS THAT THE CIT(A) ERRED IN DELETING THE ADDITION ON ACCOUN T OF UNDISCLOSED NSE INVESTMENT IN SHARES AND TRANSACTIONS OF RS.3,17,51 7/-, UNEXPLAINED CASH DEPOSIT OF RS.5,40,000/- AND UNDISCLOSED INVES TMENT IN SHARES IN BSE OF RS.3,70,156/-. 3. AT THE OUTSET, THE AR OF THE ASSESSEE SUBMITTED THAT THE CIT(A) HAS GRANTED RELIEF OF RS.12,27,673/- TO THE ASSESSE E, AND THAT TAX EFFECT ON THE RELIEF GRANTED BY THE CIT(A) TO THE ASSESSEE WAS BELOW RS.4 ITA NO.1762/AHD/2011 2 LAKHS, AND THEREFORE, THE APPEAL FILED BY THE REVEN UE ON 4.7.2011 IS NOT MAINTAINABLE IN VIEW OF PROVISION OF SECTION 268A O F THE IT ACT AND CBDT INSTRUCTION NO.3/2011 DATED 9.2.2011 WHICH HAS BEEN REVISED ON 10.7.2014 BY INSTRUCTION NO.5/2014 TO RS.4 LAKHS. 4. THE DR COULD NOT CONTROVERT THE ABOVE SUBMISSION OF THE AR. 5. IN VIEW OF THE ABOVE UNCONTROVERTED SUBMISSION O F THE AR AND THE CBDT INSTRUCTION, WE DISMISS THE APPEAL OF THE REVE NUE ON THE GROUND THAT TAX EFFECT INVOLVED IN THIS APPEAL IS BELOW RS .4 LAKHS, AND THEREFORE, THE APPEAL OF THE REVENUE IS NOT MAINTAI NABLE. 6. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE COURT ON FRIDAY, THE 13 TH FEBRUARY, 2015 AT AHMEDABAD. SD/- SD/- (MUKUL KR. SHRAWAT) JUDICIAL MEMBER ( N.S. SAINI) ACCOUNTANT MEMBER