The ITO, Ward-7(1), Surat V. Shri Arvind L.Shah,HUF, Surat

ITA 1984/AHD/2011

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 9938 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 4 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 17-12-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 10-08-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH BEFORE: S H RI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER INCOME TAX OFFICER, WARD - 7(1), SURAT (APPELLANT) VS SHRI ARVIND L. SHAH - HUF, 7/51 - B, 1 ST FLOOR, TAJ CHAMBERS, SUGI BAUG, STATION ROAD, SURAT PAN: AAIHS6766D (RESPONDENT) REVENUE BY : S H RI KEYUR PATEL , SR. D . R. ASSESSEE BY: NONE DATE OF HEARING : 17 - 12 - 2 015 DATE OF PRONOUNCEMENT : 01 - 01 - 2 016 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 2007 - 08, AR ISES FROM ORDER OF THE CIT(A) - V, SURAT DATED 29 - 04 - 2011 IN APPEAL NO. CAS - V/201 / 20 09 - 10, IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T A NO . 1984 / A HD/20 11 A S SESSMENT YEAR 200 7 - 08 I.T.A NO. 1984 /AHD/20 11 A.Y. 2007 - 08 PAGE NO ITO VS. SHRI ARVIND L. SHAH - HUF 2 2. THE REVENUE RAISES THREE SUBSTANTIVE GROUNDS INTER ALIA CHALLENGING THE LOWER APPELLATE ORDER DELETING ADDITIONS OF RS. 1,13,862/ - ARISING FROM DIFFERENCE IN BALANCE ACCOUNT OF M/S. SAINATH CHEMICAL CORPORATION ALONG WITH ADJUSTMENT ENTRIES PASSED IN THE ACCOUNTS OF M/S. S. N. ENTERPRISES TO THE TUNE OF R S. 9,99,985/ - AND RS. 1,12,023/ - . THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN RS. 10 LACS. WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES; HEREAFTER THE BOARD HAS ISSUED THE CIRCULAR NO. 21/2015 DATED 10 - 12 - 2015 CLEAR LY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED A S PER THE ABOVE STATED CIRCULAR . THE SAME HAS BEEN DECLARED TO BE HAVING RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION T HE ABOVE STATED BOARD S CIRCULAR AND DISMISS THE INSTANT APPEAL ACCORDINGLY. 3. THIS REVENUE S APPEAL IS DISMISSED AS HAVING LOW TAX EFFECT. ORDER PR ONOUNCED IN THE OPEN C OURT ON 01 - 01 - 201 6 SD/ - SD/ - ( ANIL CHATURVEDI ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 01 / 01 /201 6 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE I.T.A NO. 1984 /AHD/20 11 A.Y. 2007 - 08 PAGE NO ITO VS. SHRI ARVIND L. SHAH - HUF 3 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORD ER/ , / ,