The DCIT, Circle-1(2), Vadodara V. M/s. Styrolution ABS (I) Ltd., (Formerly known as Ineos ABS (I) Ltd.,), Vadodara

ITA 2737/AHD/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 7994 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 2 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-12-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2007-2008
• Appeal Filed On: 29-09-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH (BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER & SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER) ITA. NO: 2737/AHD/2015 (ASSESSMENT YEAR: 2007-08) THE ACIT, CIRCLE 1(1)(2), VADODARA V/S M/S. STYROLUTION ABS (I) LTD. (FORMERLY KNOWN AS INEOS ABS (I) LTD., 6 TH FLOOR, ABS TOWERS, OLD PADRA ROAD, VADODARA- 390007 (APPELLANT) (RESPONDENT) PAN: AAACB6164H APPELLANT BY : SHRI MUDIT NAGPAL, SR. D. R. RESPONDENT BY : SHRI SULABH PADSHAH ( )/ ORDER DATE OF HEARING : 08 -12-201 7 DATE OF PRONOUNCEMENT : 18 -12-2017 PER N.K. BILLAIYA, ACCOUNTANT MEMBER 1. THIS APPEAL BY THE REVENUE IS PREFERRED AGAINST THE ORDER OF THE LD. CIT(A)-1, VADODARA DATED 13.07.2015 PERTAINING TO A.Y. 2007-0 8. ITA NO. 2737 /AHD/2015 . A.Y. 2007-0 8 2 2. THE ONLY GRIEVANCE OF THE REVENUE IS THAT THE LD. C IT(A) ERRED IN ALLOWING RELIEF OF 20% VALUE OUT OF STAFF WELFARE EXPENDITURES WITH OUT APPRECIATING THE FINDINGS OF A.O. AND FACTS OF THE CASE. 3. THE GRIEVANCE OF THE REVENUE SUGGEST THAT THE TAX E FFECT ON THE IMPUGNED RELIEF WOULD COME TO LESS THAN RS. 10 LACS AND THEREFORE T HIS APPEAL BY THE REVENUE HAS TO BE DISMISSED IN THE LIGHT OF THE CBDT CIRCUL AR NO. 21 OF 2015 DATED 10.12.2015. 4. HOWEVER, IF THE REVENUE FINDS THAT THE APPEAL IS NO T HIT BY THE AFOREMENTIONED CIRCULAR, IT MAY APPROACH THE TRIBUNAL AS PER THE P ROVISIONS OF THE LAW. 5. IN THE LIGHT OF THE AFORESAID CIRCULAR, THIS APPEAL BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 18 - 12- 20 17 SD/- SD/- (RAJPAL YADAV) (N. K. BILLAIYA) JUDICIAL MEMBER TRUE COPY A CCOUNTANT MEMBER AHMEDABAD: DATED 18 /12/2017 RAJESH COPY OF THE ORDER FORWARDED TO: - 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT (APPEALS) 4. THE CIT CONCERNED. 5. THE DR., ITAT, AHMEDABAD. 6. GUARD FILE. BY ORDER DEPUTY/ASSTT.REGISTRAR ITAT,AHME DABAD