D.C.I.T. Central cricle,1(2), Nagpur V. SHRI MANISH S, NUWAL, Nagpur

ITA 191/NAG/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 2182 (ITAT-NAGPUR)
• Duration Of Justice: 1 year(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-06-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2005-2006
• Appeal Filed On: 12-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A R NINAWE
• Assessee Lawyers: C N RATHI
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN TH E INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH: NAGPUR BEFORE SHRI MUKUL K. SHRAWAT, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER. IT A NO. 1 9 1 /NAG/201 5 A SSESSMENT Y EAR : 200 5 - 0 6 DY. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE,1(2) ROOM NO.2 11,AAYAKAR BHAWAN , TELANGKHEDI RD,CIVIL LINES , NAGPUR - 44000 1 VS SHRI MANISH S. NUWAL 37, KACHIPURA, RAMDASPETH, NAGPUR - 440010 PAN : - AAZPN3399L (APPLIC ANT) (RESPONDENT) APPLICANT BY SHRI A. R .NINAWE , D.R. RESPONDENT BY SHRI C. N .RATHI, A.R. DATE OF HEARING : - 16 /0 6 /2016 DATE OF P RONOUNCEMENT: - 16 / 06 /2016 O R D E R PER SHRI SHAMIN YAHYA, A.M . THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(APPEALS) - I II , NAGPUR DATED 1 7 - 0 3 - 201 5 . THE GROUNDS RAISED READ AS UNDER: - 1. O N THE FACT S AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW , WHETHER THE CIT(A) ERRED IN DIRECTING TO DELETE THE ADDITION OF RS.11 , 80 ,8 00 / - ON ACCOUNT OF UNDISCLOSED INVESTMENT IN SHARES U/S.69 OF THE INCOME TAX ACT, 1961 ? 2. O N THE FACTS AND I N THE CIRCUMSTANCES OF THE CASE AND IN LAW, WHETHER THE CIT(A) ERRED IN RELYING UPON THE DECISION OF THE HONBLE ITAT, MUMBAI BENCH, MUMBAI IN THE CASE OF SHRI ARVIN D M.KARIA IN ITA NOS. 787 TO 791 OF 2010, IGNORING THE FACT THAT THE FACTS OF THE PRESENT CASE ARE NOT IDENTICAL T O THE FACTS OF THE CASE RELIED UPON ? 2 IT A NO .1 9 1 /NAG/201 5 - (T - E) A.M.SIR.(MBODKHE,P.S.) 2. AT THE THRESHOLD IT IS NOTED THAT THE TAX EFFECT IN THIS CASE IS BELOW THE LIMIT OF RS.10 LACS FIXED BY THE CBDT FOR FILING APPEAL BEFORE THE INCOME TAX APPELLATE TRIBUNAL VIDE CBDT CIRCULAR NO.21/2015 DATED 10 - 12 - 2015. IN THE SAID CIRCULAR IT HAS BEEN SPECIFIED THAT THE CIRCULAR WOULD HAVE RETROSPECTIVE EFFECT AND THE REVENUE WOULD NOT PRESS AND WOULD WITHDRAW SUCH APPEAL. THERE ARE CERTAIN EXCEPTIONS MENTIONED IN THE SAID CIRCULAR. LEARNED D.R. COULD NOT POINT OUT THAT ANY OF THESE CASES ATTRACT THE EXCEPTIONS PROVIDED IN THE SAID CIRCULAR. IN THESE CIRCUMSTANCES, IN THE LIGHT OF THE ABOVE SAID CBDT CIRCULAR, THIS APPEAL IS DISMISSED ON ACCOUNT OF TAX EFFECT IN LIMINE . 3. IN THE RESULT, THIS APPEAL BY THE REVEN UE STANDS DISMISSED IN LIMINE. ORDER PRONOU NCED IN THE OPEN COURT ON THIS 16 TH DAY OF JUNE , 2016. SD/ - SD/ - (MUKUL K. SHRAWAT) ( SHAMIM YAHYA) JUDICIAL MEMBER ACCOUNTANT MEMBER PLACE : - NAGPUR D ATED: - 16 / 0 6 /2016. COPY FORWARDED TO : 1. SHRI MANISH S. NUWAL 37, KACHIPURA, RAMDASPETH, NAGPUR - 440010 2. DY. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE,1(2) ROOM NO.211,AAYAKAR BHAWAN, TELANGKHEDI RD,CIVIL LINES, NAGPUR - 440001 3. C.I.T. - 1, NAGPUR 4. CIT (APPEALS) - I II , NAGPUR. 5. D.R., ITAT, NAGPUR. 6. GUARD FILE TRUE COPY B Y ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR MANGESH BODKHE/P.S.