The ACIT, Central Circle-4, Baroda V. M/s. Mangla Properties Pvt.Ltd., Baroda

ITA 2532/AHD/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 1787 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 4 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-04-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 04-04-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 08-11-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DINESH SINGH
• Assessee Lawyers: P M MEHTA WITH SHRI G M THAKOR
• Keywords: Tax effect
• Section: 143(3); 80IB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH BEFORE: SHR I S. S. GODARA , JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER THE ACIT, CIRCLE - 4, BARODA (APPELLANT) VS M/S. MANGLA PROPERTIES PVT. LTD., 101 TO 107, K.P. SHOPPING COMPLEX, KARELIBAUG, BARODA - 390018 PAN: AABCM3105E (RESPONDENT) REVENUE BY : S H RI DINESH SINGH , SR. D . R. ASSESSEE BY: S H RI P.M. MEHTA WITH SHRI G.M. THAKOR , A.R. DATE OF HEARING : 04 - 04 - 2 016 DATE OF PRONOUNCEMENT : 04 - 04 - 2 016 / ORD ER P ER : S. S. GODARA , JUDICIAL MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 2009 - 10 , AR I SES FROM ORDER OF THE CIT(A) - I V, AHMEDABAD DATED 13 - 08 - 2012 IN APPEAL NO. CIT(A) - I V/123B/CC - 1/11 - 12 , IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; I N SHORT THE ACT . I T A NO . 2532 / A HD/20 12 A SSESSMENT YEAR 200 9 - 10 I .T.A NO. 2532 /AHD/20 12 A.Y. 2009 - 10 PAGE NO ACIT VS. M/S. MANGLA PRODUCTS PVT. LTD 2 2. REVENUE S SOLE SUBSTANTIVE GROUND IS SECTION 80IB DEDUCTION OF RS. 19,19,623/ - . NET TAX EFFECT INVOLVED COMES TO BE THAT OF 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10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CIRCULAR.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 EFF ECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION 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 04 - 04 - 20 1 6 SD/ - SD/ - ( MANISH BORAD ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 04 /04 /2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , I .T.A NO. 2532 /AHD/20 12 A.Y. 2009 - 10 PAGE NO ACIT VS. M/S. MANGLA PRODUCTS PVT. LTD 3 / ,