The ACIT,B.K.Circle, Patan V. The Thara Vibhag Nagrik Sarafi Sahkari Mandli Ltd., Banaskantha

ITA 2675/AHD/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 9734 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 1 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 13-01-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 29-11-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NARENDRA SINGH
• Assessee Lawyers: S N DIVETIA
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH BEFORE: SHR I S. S. GODARA , JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER THE ACIT, B.K. CIRCLE, PALANPUR (APPELLANT) VS THE THARA VIBHAG NAGRIK SARAFI, SAHKARI MANDLI LTD., HIGHWAY ROAD, AT & PO. THARA TAL. KANKREJ PAN: AAAAT4800A (RESPONDENT) REVENUE BY : S H RI NARENDRA SINGH , SR. D . R. ASSESSEE BY: S H RI S.N. DIVETIA , A.R. DATE OF HEARING : 13 - 01 - 2 016 DATE OF PRONOUNCEMENT : 20 - 01 - 2 016 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - T HIS REVENUE S APPEAL FOR A.Y. 2007 - 08, ARISES FROM ORDER OF T HE CIT(A) - XX, AHMEDABAD DATED 21 - 09 - 2012 IN APPEAL NO. CIT(A) - XX/244/11 - 12 , IN PROCEEDINGS UNDER SECTION 143(3) R.W.S. 147 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T A NO . 2675 / A HD/20 12 A SSE SSMENT YEAR 200 7 - 08 I.T.A NO. 2675/AHD/2012 A.Y. 2007 - 08 PAGE NO ACIT VS. THE THARA VIBHAG NAGRIK SARAFI SAHKARI MANDLI LTD 2 2. BOTH PARTIES INFORM US AT THE OUTSET THAT THE INSTANT APPEAL INVOLVES NE T TAX EFFECT OF LESS THAN RS. 10 LACS SINCE THE SOLE SUBSTANTIVE GROUND SEEKS TO RESTORE DISALLOWANCE OF RS. 11,26,100/ - U/S. 80P(2)(A)(I) OF THE ACT. WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES; HE REAFTER 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10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CIRCULAR.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 DECLA RED TO BE HAVING RETROSPECTIVE EFFECT 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 FOR LOW TAX EFFECT. ORDER PR ONOUNCED IN T HE OPEN C OURT ON 20 - 01 - 201 6 SD/ - SD/ - ( MANISH BORAD ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 20 /01/2016 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. 2675/AHD/2012 A.Y. 2007 - 08 PAGE NO ACIT VS. THE THARA VIBHAG NAGRIK SARAFI SAHKARI MANDLI LTD 3 / ,