The ITO, Ward-2(2), Surat V. Shri Mukesh M. Parihar, Surat

ITA 2345/AHD/2013

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 9731 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 2 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-12-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 26-12-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 27-09-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SANTOSH KARNANI
• Keywords: Tax effect
• Section: 69

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH, AHMEDABAD (BEFORE SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER) ITA. NO: 2345/AHD/2013 (ASSESSMENT YEAR: 2009-10) INCOME TAX OFFICER, WARD- 2(2), ROOM NO.117, 1 ST FLOOR, AYAKAR BHAVAN, MAJURAGATE, SURAT. V/S SHRI MUKESH M PARIHAR, 2015, GOLWALA MARKET, RING ROAD, SURAT. 395002 (APPELLANT) (RESPONDENT) PAN: AKFPP 1469 H APPELLANT BY : SHRI SANTOSH KARNANI, SR. D.R. RESPONDENT BY : --NONE-- ( )/ ORDER DATE OF HEARING : 26 -12-2016 DATE OF PRONOUNCEMENT : 26 -12-2016 PER MAHAVIR PRASAD, JUDICIAL MEMBER: 1. THIS APPEAL BY THE REVENUE IS PREFERRED AGAINST THE ORDER OF LD. CIT(A)-II, SURAT DATED 11.07.2013 PERTAINING TO A.Y. 2009-10. 2. THE SUBSTANTIVE GRIEVANCE OF THE REVENUE READS AS UNDER:- ITA NO. 2345/AHD/2016 . A.Y. 2009-10 2 ON THE FACTS AND CIRCUMSTANCES OF THE CASE WHETHER THE LD.CIT(A) HAS JUSTIFIED IN RESTRICTING THE PENALTY LEVIED ON THE ADDITION MADE U/S 69 OF THE I.T.ACT BY AMOUNTING TO RS.42,02,993/-, WHICH WAS REDUCED BY THE LD.CIT(A) TO RS.26,13,609/- ON PRESUMPTION BASIS WITHOUT CONSIDERING THE FACTS OF THE CASE AND AS IT WAS ESTABLISHED BY THE AO THAT THE ASSESSEE HAS FURNISHED INACCURATE PARTICULARS AND CONCEALED THE INCOME. 3. A PERUSAL OF THE AFOREMENTIONED GROUND SHOWS THAT THE QUANTUM INVOLVED IN THE APPEAL IS RS. 26,13,609/- ON WHICH THE TAX EFFECT IS LESS THAN RS. 10 LACS. THEREFORE, THIS APPEAL BY THE REVENUE IS HIT BY THE CBDT CIRCULAR NO. 21 OF 2015 DATED 10.12.2015 BY WHICH THE CBDT HAS FIXED THE MONETARY LIMIT FOR FILING THE APPEAL BEFORE THE APPELLATE TRIBUNAL HAVING TAX EFFECT OF MORE THAN RS. 10 LACS. 4. IN THE LIGHT OF THE AFOREMENTIONED CBDT CIRCULAR, THIS APPEAL BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 26-12-2016 SD/- SD/- (PRAMOD KUMAR) (MAHAVIR PRASAD) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD: 26/12/2016 PRITI TRUE COPY COPY OF THE ORDER FORWARDED TO: - 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT (APPEALS) II, SURAT 4. THE CIT CONCERNED. 5. THE DR., ITAT, AHMEDABAD. 6. GUARD FILE. BY ORDER DEPUTY/ASSTT.REGISTRAR ITAT,RAJKOT