DCIT, Chandigarh V. M/s Parul Chemicals Ltd., Chandigarh

ITA 259/CHANDI/2015

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 2369 (ITAT-CHANDIGARH)
• Duration Of Justice: 3 year(s) 7 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 13-03-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MANJIT SINGH
• Assessee Lawyers: ANIL KHANNA CA
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BE NCH A CHANDIGARH !, ' # , $ % & ' ( , )* # BEFORE: SMT. DIVA SINGH, JM & SMT.ANNAPURNA GUPTA, AM ITA NO. 259/CHD/2015 ASSESSMENT YEAR : 2010-11 THE DCIT, CIRCLE 4(1), CHANDIGARH. VS M/S PARUL CHEMICALS LTD., B-TOWER, 8 TH FLOOR, ALKAPURI ARKADE, RC DUTT ROAD,VADODARA (NOW MERGED WITH M/S PUNJAB CHEMICALS & CORPN., CHANDIGARH. PAN NO: AABCP2713P APPELLANT RESPONDENT ! REVENUE BY : SHRI MANJIT SINGH, SR.DR '# ! ASSESSEE BY : SHRI ANIL KHANNA, CA $ % #& DATE OF HEARING : 03.10.2018 '()* #& D ATE OF PRONOUNCEMENT : 31.10.2018 )+/ ORDER PER DIVA SINGH THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE ASSAILING THE CORRECTNESS OF THE ORDER DATED 17.12.2014 OF LD. CIT(APPEA LS)-2 VADODARA PERTAINING TO 2010-11 ASSESSMENT YEAR. 2. IT WAS A COMMON STAND OF THE PARTIES BEFORE THE BEN CH THAT THE DEPARTMENTAL APPEAL IS BELOW THE TAX EFFECT AS LAID DOWN BY THE CBDT VIDE CIRCULAR NO.3/2018 DATED 11.07.2018. IT WAS SUBMITTED THA T THE ASSESSEE M/S PARUL CHEMICALS LTD. MERGED WITH PUNJAB CHEMICALS CORP. PRO TECTION LTD. WHICH FACT HAS BEEN NOTICED IN THE IMPUGNED ORDER. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. IN THE LIGHT OF THE SUBMISSIONS ADVANCED BY THE PARTIES B EFORE THE BENCH. IN VIEW OF THE LOW TAX EFFECT IN TERMS OF THE AFORESAID CIRCULAR OF THE CB DT BY ITA-259/CHD/2015 PAGE 2 OF 2 WHICH THE TAX AUTHORITIES ARE BOUND, THE APPEAL OF THE RE VENUE, ACCORDINGLY, IS DISMISSED AS NOT PRESSED. 4. IN THE RESULT THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 31.10. 2018. SD/- SD/- ( $ % & ' ( ) ( ! ) (ANNAPURNA GUPTA) (DIVA SINGH) )* #/ ACCOUNTANT MEMBER ' #/ JUDICIAL MEMBER % $ (+ #,-.-# COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT - 2. THE RESPONDENT - 3. $ /# CIT 4. $ /#01 THE CIT(A) 5. -2#45&456789 DR, ITAT, CHANDIGARH 6. 8:% GUARD FILE (+ $ BY ORDER, ; ASSISTANT REGISTRAR