The ITO, Ward-3(1), Surat V. Shri Vikas Sobhagmal Jain, Surat

ITA 2292/AHD/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 1188 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 9 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-07-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 13-09-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANTONY PARIATH
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, AHMEDABAD BEFORE SHRI R.P. TOLANI, JUDICIAL MEMBER ./ ././ ./ ITA NO. 2292/AHD/2013 / // / ASSESSMENT YEAR : 2008-09 INCOME-TAX OFFICER, WARD - 3 (1), SURAT VS SHRI VIKAS SOBHAGMAL JAIN, 2003, ROHIT A.C. MARKET, RING ROAD, SURAT-395002 PAN : ACVPJ 5821 D / // / (APPELLANT) / // / (RESPONDENT) REVENUE BY : SHRI ANTONY PARIATH, SR DR ASSESSEE BY : NONE / // / DATE OF HEARING : 07/07/2016 / // / DATE OF PRONOUNCEMENT: 07/07/2016 / // / O R D E R THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS)-IV, SURAT DATE D 21.06.2013 FOR ASSESSMENT YEAR 2008-09. 2. THE SOLITARY GROUND RAISED BY THE REVENUE READS AS UNDER:- ON THE FACTS OF THE CIRCUMSTANCES OF THE CASE, WHET HER THE LD. CIT(A) HAS JUSTIFIED IN RESTRICTING THE PENALTY LEVIED U/S 271 (1)(C) OF THE I.T. ACT, WHILE THE AO HAS NOTED THAT THE ASSESSEE HAS NOT TRULY AND FULLY DISCLOSED (SAVING BANK ACCOUNT) ALL MATERIAL FACTS NECESSARY FOR HIS A SSESSMENT NOT ONLY IN HIS RETURN OF INCOME BUT ALSO DURING THE COURSE OF ASSE SSMENT PROCEEDINGS WILLINGLY? 3. AT THE TIME OF HEARING, NONE APPEARED ON BEHALF OF THE ASSESSEE. 4. I HAVE HEARD THE LD. DEPARTMENTAL REPRESENTATIVE AND PERUSED THE MATERIAL AVAILABLE ON RECORD. ON PERUSING THE GROU ND OF APPEAL RAISED BY THE REVENUE, I FIND THAT REVENUE IS AGGRIEVED BY TH E ORDER OF CIT(A) IN RESTRICTING THE PENALTY ON THE ADDITION OF RS.5,95, 566/- INSTEAD OF RS.28,22,920/- AND THE TAX EFFECT OF WHICH IS BELOW RS.10 LACS. AS PER THE ANNOUNCEMENT OF CENTRAL BOARD OF DIRECT TAXES (CBDT ) DATED 10.12.2015 SMC-ITA NO. 2292/AHD/2013 ITO VS. SHRI VIKAS SOBHAGMAL JAIN AY : 2008-09 2 (CIRCULAR NO.21 OF 2015), NO DEPARTMENT APPEALS ARE TO BE FILED AGAINST RELIEF GIVEN BY LD. CIT(A) BEFORE THE INCOME TAX APPELLATE TRIBUNAL UNLESS THE TAX EFFECT, EXCLUDING INTEREST EXCEEDS RS.10 LACS AND I T FURTHER STATES THAT THE INSTRUCTIONS WILL APPLY RETROSPECTIVELY TO THE PEND ING APPEALS. IN THE PRESENT CASE, SINCE IT IS AN UNDISPUTED FACT THAT T HE TAX EFFECT IS LESS THAN RS.10 LACS, I AM OF THE VIEW THAT THE MONETARY LIMI T PRESCRIBED BY THE INSTRUCTIONS OF THE AFORESAID CBDT CIRCULAR WOULD B E APPLICABLE TO THE PRESENT APPEAL OF THE DEPARTMENT AND THEREFORE THE PRESENT APPEAL IS NOT MAINTAINABLE ON ACCOUNT OF LOW TAX EFFECT. IN SUCH CIRCUMSTANCES, I DISMISS THIS APPEAL OF THE REVENUE WITHOUT EXPRESSING ANY O PINION ON MERITS OF THE CASE. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED IN LIMINE. ORDER PRONOUNCED IN THE COURT ON 7 TH JULY, 2016 AT AHMEDABAD. SD/- R.P. TOLANI (JUDICIAL MEMBER) AHMEDABAD; DATED 07/07/2016 *BIJU T. / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / CONCERNED CIT 4. ( ) / THE CIT(A) 5. , , / DR, ITAT, AHMEDABAD 6. / GUARD FILE. / BY ORDER, TRUE COPY / // / ( DY./ASSTT.REGISTRAR) , , , , / ITAT, AHMEDABAD