The DCIT, Circle-8, Ahmedabad V. Urmin Products Pvt.Ltd., Ahmedabad

ITA 2020/AHD/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 0540 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 1 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-09-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 21-09-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 29-07-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: A L THAKKAR
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH AHMEDABAD BEFORE SHRI N. K. BILLAIYA, ACCOUNTANT MEMBER, AND SHRI S. S. GODARA, JUDICIAL MEMBER. ITA NOS.2020 /AHD/2013 (ASSESSMENT YEAR:2010-11) DY. COMMISSIONER OF INCOME TAX, CIRCLE-8, AHMEDABAD A PPELLANT VS. URMIN PRODUCTS PVT. LTD., 48, CHANGODAR INDUSTRIAL ESTATE, NR. BESAN FACTORY, SARKHEJ-BAVLA ROAD, CHANGODAR, TA. SANAND - 382213 RESPO NDENT PAN: AAACU4489Q /BY REVENUE : SHRI K. MADHUSUDAN, SR. D.R. / BY ASSESSEE : SHRI A. L. THAKKAR, A.R. /DATE OF HEARING : 21.09.2016 /DATE OF PRONOUNCEMENT : 28.09.2016 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS REVENUES APPEAL FOR A.Y. 2010-11, ARISES FROM ORDER OF THE CIT(A)-XIV, AHMEDABAD, DATED 06.05.2013 IN APPEAL NO. CIT(A) XIV/DCITCIR.8/325/12-13, IN PROCEEDINGS UNDER SECTI ON 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. 2. THE REVENUES SUBSTANTIVE GROUNDS ARE AS UNDER: ITA NO.2020/AHD/2013 (DY.CIT VS. URMIN PRODUCTS PV T. LTD.) A.Y. 2010-11 - 2 - 1). THE LD. COMMISSIONER OF INCOME-TAX (APPEAL S)-XIV, AHMEDABAD HAS ERRED IN LAW AND ON FACTS IN DELETING THE ADDITION OF RS.16, 00,000/- MADE ON ACCOUNT OF UNDERVALUATION OF CLOSING STOCK. 2). THE LD. COMMISSIONER OF INCOME-TAX (APPEAL S)-XIV, AHMEDABAD HAS ERRED IN LAW AND ON FACTS IN DELETING THE DISALLOWANCE OF RS .30,573/- MADE ON ACCOUNT OF INSURANCE PREMIUM PAID ON PURCHASE OF NEW CARS. 3). THE LD. COMMISSIONER OF INCOME-TAX (APPEALS )-XIV, AHMEDABAD HAS ERRED IN LAW AND ON FACTS IN DELETING THE ADDITION OF RS.99, 961/- MADE ON ACCOUNT OF DAMAGED GOODS. 4). THE LD. COMMISSIONER OF INCOME-TAX (APPEALS )-XIV, AHMEDABAD HAS ERRED IN LAW AND ON FACTS IN DELETING THE ADDITION OF RS.2,5 0,831/- MADE ON ACCOUNT OF FOREIGN TRAVEL EXPENSES. 5). THE LD. COMMISSIONER OF INCOME-TAX (APPEAL S)-XIV, AHMEDABAD HAS ERRED IN LAW AND ON FACTS IN DELETING THE DISALLOWANCE OF RS .1,08,000/- MADE ON ACCOUNT OF PROFESSIONAL EXPENSES. 3. 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 DIRE CT TAXES; HEREAFTER THE BOARD HAS ISSUED THE CIRCULAR NO. 21/2015 DATED 1 0.12.2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENTS PENDING APPEALS BEFORE TH E TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CI RCULAR. THE SAME HAS BEEN DECLARED TO BE HAVING RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION THE ABOVE STATED BOARDS CIRCULAR AND DISMISS THE INSTANT APPEAL ACCORDINGLY. 4. THIS REVENUES APPEAL IS DISMISSED AS HAVING LOW TAX EFFECT. [PRONOUNCED IN THE OPEN COURT ON THIS THE 28 TH DAY OF SEPTEMBER, 2016.] SD/- SD/- (N. K. BILLAIYA) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD: DATED 28/09/2016 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT ITA NO.2020/AHD/2013 (DY.CIT VS. URMIN PRODUCTS PV T. LTD.) A.Y. 2010-11 - 3 - 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 45 / GUARD FILE. BY ORDER / . // . /0