The ITO, Ward-5(2), Ahmedabad V. Pankaj Extrusions Limited, Baroda

ITA 2048/AHD/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 0310 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 2 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-10-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 04-10-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 02-08-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH (BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER) ITA. NO: 2048/AHD/2013 (ASSESSMENT YEAR: 2008-09) INCOME TAX OFFICER, WARD- 5 (2), AHMEDABAD V/S PANKAJ EXTRUSTION LTD. 301 AADI, NER PF OFFICE AKOTA STADIUM ROAD VADODARA- 390020 (APPELLANT) (RESPONDENT) PAN: AAECP2220N APPELLANT BY : SHRI PRASOON KABRA, SR. D. R. RESPONDENT BY : NONE ( )/ ORDER DATE OF HEARING : 04 -10-201 6 DATE OF PRONOUNCEMENT : 05 -10-2016 PER N.K. BILLAIYA, ACCOUNTANT MEMBER: 1. THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LD. CIT(A)-XI, AHMEDABAD DATED 13.05.2013 PERTAINING TO A.Y. 2008- 09. ITA NO. 2048 /AHD/2013 . A.Y. 2008-09 2 2. THE SUBSTANTIVE GRIEVANCE OF THE REVENUE READS AS U NDER:- 1. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN DEL ETING THE DISALLOWANCE OF EMPLOYEES PF CONTRIBUTION RS. 1,14,938/- MADE U/S. 2(24)(X) R.W.S. 36(1)(VA) OF THE I.T. ACT. 2. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN DEL ETING THE DISALLOWANCE OF RS. 1,22,465/- MADE ON ACCOUNT OF INCOME NOT RECOGNIZED . 3. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN DEL ETING THE DISALLOWANCE OF RS. 12,18,843/- MADE ON ACCOUNT OF INTEREST OF U/S. 36( 1)(III) OF THE I.T. ACT. 3. A PERUSAL OF THE AFOREMENTIONED GROUNDS CLEARLY SHO WS THAT THE TAX EFFECT INVOLVED IN THE GRIEVANCE OF THE ASSESSEE IS LESS T HAN RS. 10 LACS. 4. THIS APPEAL BY THE REVENUE DESERVES TO BE DISMISSED IN THE LIGHT OF THE CBDT CIRCULAR NO. 21 OF 2015 DATED 10.12.2015 BY WH ICH THE CBDT HAS PRESCRIBED THE MONETARY LIMIT TO FILE THE APPEAL BE FORE THE TRIBUNAL AT RS. 10 LACS AND ABOVE. 5. IN THE LIGHT OF THE AFOREMENTIONED CIRCULAR OF THE CBDT, THIS APPEAL BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 05- 10- 2016. SD/- SD/- (MAHAVIR PRASAD) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD: TRUE COPY RAJESH COPY OF THE ORDER FORWARDED TO: -