The ITO, Ward-1(2)(4), Ahmedabad V. Shri Vinit Ashokkumar Agrawal, Ahmedabad

ITA 2073/AHD/2016

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 8512 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 1 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-09-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 09-08-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PRAJNU PARANITA
• Keywords: Audit objection; Tax effect

Judgement Text

, *,L *,L*,L *,L- -- -,E ,E,E ,E- -- -LH* LH*LH* LH* IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, AHMEDABAD LOZJH EGKOHJ IZLKN] U;KF;D LNL; ,OA VEJTHR FLAG] LOZJH EGKOHJ IZLKN] U;KF;D LNL; ,OA VEJTHR FLAG] LOZJH EGKOHJ IZLKN] U;KF;D LNL; ,OA VEJTHR FLAG] LOZJH EGKOHJ IZLKN] U;KF;D LNL; ,OA VEJTHR FLAG] YS [KK LNL; DS LE{KA YS[KK LNL; DS LE{KA YS[KK LNL; DS LE{KA YS[KK LNL; DS LE{KA (BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ) ./ I.T.A. NO.2073/AHD/2016 ( / ASSESSMENT YEAR : 2012-13) ITO, WARD -1(2)(4), AHMEDABAD - 380015 / VS. SHRI VINIT ASHOKKUMAR AGRAWAL, 469/23, SAKAR BAZAR, KALUPUR, AHMEDABAD - 380001 ./ ./ PAN/GIR NO. : AAYPA 3833 H ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI PRAJNU PARANITA, SR.D.R. / RESPONDENT BY : --NONE-- / DATE OF HEARING 22/09/2017 !'# / DATE OF PRONOUNCEMENT 25/09/2017 $% / O R D E R PER SHRI MAHAVIR PRASAD, JUDICIAL MEMBER : THIS IS AN APPEAL BY THE DEPARTMENT AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS)-10, AHMEDABAD, DATED 21/06/2016 FOR THE ASSESSMENT YEAR (AY) 2012-13, ON THE FOLLOWING GROUNDS: THAT THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN DELETING THE ADDITION OF RS.47,15,735/- ON ACCOUNT OF LONG TERM CAPITAL GAIN. ON THE FACT AND IN THE CIRCUMSTANCES OF THE CASE AN D IN LAW, THE CIT(A) OUGHT TO HAVE UPHELD THE ORDER OF THE ASSESSING OFF ICER TO THE EXTENT ITA NO. 2073/AH D/2016 ITO VS. SHIR VINIT ASHOKKUMAR AGARWAL ASST.YEAR 2012-13 - 2 - MENTIONED ABOVE SINCE THE ASSESSEE HAS FAILED TO DI SCLOSE HIS TRUE INCOME/BOOK PROFIT. THE APPELLANT PRAYS THAT THE ORDER OF CIT(A)ON THE ABOVE GROUNDS BE SET ASIDE AND THAT OF THE ASSESSING OFFICER BE REST ORED TO BE ABOVE EXTENT. THE APPELLANT CRAVES, TO AMEND OR TO ALTER ANY GROUND OR ADD A NEW GROUND WHICH MAY BE NECESSARY. 2. AT THE TIME OF HEARING, NONE APPEARED ON BEHALF OF THE RESPONDENT ASSESSEE. WE FIND THAT THE APPEAL OF THE REVENUE NE EDS TO BE DISMISSED ON ACCOUNT OF LOW TAX EFFECT IN VIEW OF THE CBDT CI RCULAR NO.21 OF 2015 DATED 10.12.2015. THE LD. DEPARTMENTAL REPRESENTAT IVE FAIRLY ADMITTED THAT THE TAX EFFECT IS LESS THAN THE LIMIT PRESCRIB ED BY THE AFORESAID CBDT CIRCULAR. 3. WE HAVE HEARD THE LEARNED DR AND PERUSED THE MAT ERIAL AVAILABLE ON RECORD. WE FIND THAT PRIMA-FACIE THIS APPEAL OF THE REVENUE IS NOT MAINTAINABLE IN VIEW OF CBDT CIRCULAR NO. 21/2015 I N F.NO.279/MISC. 142/2007-ITJ (PT) DATED 10TH DECEMBER 2015, VIDE WH ICH IT HAS BEEN PROVIDED THAT IF THE TAX EFFECT BY VIRTUE OF THE CO MMISSIONER OF INCOME- TAX (APPEALS)S ORDER IS BELOW RS. 10 LACS, THEN TH AT ORDER WOULD NOT BE CHALLENGED BEFORE THE TRIBUNAL IN FURTHER APPEAL. THE BOARD HAS PROVIDED EXEMPTIONS AT CLAUSE (8) OF THE INSTRUCTIO NS WHEREIN IT HAS BEEN PROVIDED THAT THESE INSTRUCTIONS WILL NOT BE APPLIC ABLE, IF VIRES OF ANY PROVISIONS HAS BEEN QUASHED BY IMPUGNED ORDER OR AD DITION WAS MADE ON SOME AUDIT OBJECTIONS OR THE ADDITION RELATES TO UN DISCLOSED FOREIGN ASSETS/BANK ACCOUNTS, ETC. WE FIND THAT THE PRESEN T CASE DOES NOT FALL ITA NO. 2073/AH D/2016 ITO VS. SHIR VINIT ASHOKKUMAR AGARWAL ASST.YEAR 2012-13 - 3 - WITHIN THE EXEMPTION CLAUSE AND THE TAX IS LESS THA N RS.10 LACS. THEREFORE, THE PRESENT APPEAL IS NOT MAINTAINABLE A ND HENCE DISMISSED. 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED IN LIMINE. THIS ORDER PRONOUNCED IN OPEN COURT ON 25/09/2017 SD/- SD/- VEJTHR FLAG VEJTHR FLAG VEJTHR FLAG VEJTHR FLAG &' $ ( $ ) ()* $ ) ( AMARJIT SINGH ) ( MAHAVIR PR ASAD ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 25/09/2017 !'# $#! / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. , -. / / CONCERNED CIT 4. / () / THE CIT(A)-10, AHMEDABAD 5. 012 **-. , -.# , '&$,$ / DR, ITAT, AHMEDABAD 6. 245 6 / GUARD FILE. % & / BY ORDER, 0 * //TRUE COPY// '/& () ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD TRUE COPY