The ITO, Ward-1., Bharuch V. M/s. A One Enterprise, Bharuch

ITA 2198/AHD/2010

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 0539 (ITAT-AHMEDABAD)
• Duration Of Justice: 6 year(s) 2 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-09-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 20-09-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 29-06-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DEEPAK SUTARIA
• Keywords: Business income; 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.2198 /AHD/2010 (ASSESSMENT YEAR:2007-08) INCOME-TAX OFFICER, WARD-1, BHARUCH APPEL LANT VS. M/S. A. ONE ENTERPRISE, KUMBHARIA BUILDING, NEAR RLY. STATION, BHARUCH RESPONDENT PAN: AAHFA8526A /BY REVENUE : SHRI DEEPAK SUTARIA, SR. D.R. / BY ASSESSEE : NONE /DATE OF HEARING : 20.09.2016 /DATE OF PRONOUNCEMENT : 28.09.2016 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS REVENUES APPEAL FOR A.Y. 2007-08, ARISES FROM ORDER OF THE CIT(A)-VI, BARODA, DATED 05.04.2010 IN APPEAL NO. CAB/VI-298/09-10, IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. 2. THE REVENUES SUBSTANTIVE GROUNDS PLEADED IN THE INSTANT APPEAL CHALLENGE THE CIT(A)S ORDER INTER ALIA DELETING DI SALLOWANCES/ADDITIONS OF ITA NO.2198/AHD/2010 (ITO VS. M/S. A. ONE ENTERPRIS E) A.Y. 2007-08 - 2 - RS.22,01,000/- ON ACCOUNT OF DIFFERENCE IN THE MARK ET VALUE OF ASSESSEES SHOPS SOLD OF RS.7.5LACS BY TREATING THE SAME AS BUSINESS INCOME AND NOT FROM HOUSE PROPERTY AND IN REVERSING DISALLOWANCE OF INDIRECT EXPENSES OF RS.3,34,536/- AS MADE BY THE ASSESSING OFFICER IN ASSESSMENT ORDER D ATED 31.12.2009. THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN THE INSTANT A PPEAL IS LESS THAN RS.10 LACS. WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES; HER EAFTER THE BOARD HAS ISSUED THE CIRCULAR NO. 21/2015 DATED 10.12.2015 CLEARLY E NVISAGING THEREIN THAT DEPARTMENTS PENDING APPEALS BEFORE THE TRIBUNAL/HI GH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CIRCU LAR. 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. 3. 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 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 45 / GUARD FILE. BY ORDER / . // . /0