The ITO, Ward-9(2), Surat V. Shri Hitesh Kantilal Patel, Surat

ITA 2201/AHD/2011

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 9373 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 5 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 22-02-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 02-09-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R P MAURYA
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH BEFORE: S H RI N.K. BILLAIYA , ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER THE ITO, WARD. 9(2), SURAT (APPELLANT) VS SHRI HITESH KANTILAL PATEL, D - 8, SUMANGAL APPARTMENT, NEAR VARACHHA POLICE STATION, VARACHHA ROAD, SURAT - 3950001 PAN: AIYPP7066K (RESPONDENT) REVENUE BY : SHRI R.P. MAURYA , SR. D . R. ASSESSEE BY: NONE DATE OF HEARING : 22 - 02 - 2 016 DATE OF PRONOUNCEMENT : 26 - 02 - 2 016 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THI S REVENUE S APPEAL FOR A.Y. 2008 - 09 , AR IS ES FROM ORDER OF THE CIT(A) - V, SURAT DATED 27 - 05 - 2011 IN APPEAL NO. CAS - V/283/2010 - 11 , IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT I T A NO . 2201 / A HD/20 11 A SSESSMENT YEAR 200 8 - 09 I.T.A NO. 2201 /AHD/20 11 A.Y. 2008 - 09 PAGE NO ITO VS. SHRI HITESH KANTILAL PATEL 2 2 THE REVENUE S FIVE SUBSTANTIVE GROUNDS CHALLENGE THE LOWER APPELLATE ORDER INTER ALIA DELETING ADDITIONS MADE BY THE ASSESSING OFFICER ON ACCOUNT OF OPENING CASH BALANCE, CLOSING STOCK OF SHARES, CLOSING CASH BALANCE AND AGRICULTURAL INCOME OF RS. 5,95,430/ - , RS. 4,96,133/ - , RS. 74,200/ - , RS. 84,670/ - AND RS. 80,500/ - RESPECTIVELY . 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10 - 12 - 20 15 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CIRCULAR. THE SAME HAS BEEN DECLARED TO BE HAVING RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CO NSIDERATION THE 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 26 - 02 - 201 6 SD/ - SD/ - ( N.K. BILLAIYA ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 2 6 /02 /2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE I.T.A NO. 2201 /AHD/20 11 A.Y. 2008 - 09 PAGE NO ITO VS. SHRI HITESH KANTILAL PATEL 3 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6 . GUARD FILE. BY ORDER/ , / ,