The ACIT, Circle- 5, Ahmedabad V. M/s. Prem Udyog Pvt. Ltd., Ahmedabad

ITA 2828/AHD/2013

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 8892 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 3 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-03-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 27-03-2017
• Assessment Year: 2007-2008
• Appeal Filed On: 03-12-2013
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Retrospective amendment; Tax effect
• Section: 32; 147; 131; 68; 246; 69; 145; 27; 148; 54; 37; 6; 56; 263; 63; 132; 12; 28; 144; 10; 90; 154; 2; 11; 15; 271(1)(b); 139; 143(3); 92

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH AHMEDABAD BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA NO. 2828/AHD/2013 (ASSESSMENT YEAR: 2007-08) ACIT, CIR-5, AHMEDABAD A PPELLANT VS. M/S. PREM UDYOG PVT. LTD., 211, NEW CLOTH MARKET, RAIPUR, AHMEDABAD - 380002 R ESPONDENT PAN: AABCP1490M /BY REVENUE : SHRI DIPAK SUTARIA, SR. D.R. /BY ASSESSEE : SHRI VIJAY RANJAN WITH IRA KAPOOR, A.R. /DATE OF HEARING : 27.03.2017 /DATE OF PRONOUNCEMENT : 29.03.2017 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS REVENUES APPEAL FOR ASSESSMENT YEAR 2007-08 A RISES AGAINST THE CIT(A)-XI, AHMEDABADS ORDER DATED 23.09.2013, PASS ED IN APPEAL NO. CIT(A)-XI/277/ACIT.CIR-5/12-13, IN PROCEEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. ITA NO. 2828/AHD/2013 [ACIT VS. M/S. PREM UDYOG P . LTD.] A.Y. 2007-08 - 2 - 2. THE REVENUES SUBSTANTIVE GROUND PLEADED IN THE INSTANT APPEAL CHALLENGES THE CIT(A)S ORDER INTER ALIA DELETING T HE ADDITION OF RS.11,50,000/- MADE BY THE ASSESSING OFFICER U/S. 6 8 OF THE ACT. THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN THE INSTANT APPE AL IS LESS THAN RS.10 LACS. WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES; HEREAF TER THE BOARD HAS ISSUED THE CIRCULAR NO. 21/2015 DATED 10.12.2015 CLEARLY E NVISAGING THEREIN THAT DEPARTMENTS PENDING APPEALS BEFORE THE TRIBUNAL/HI GH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CIRCU LAR. THE SAME HAS BEEN DECLARED TO BE HAVING RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION THE ABOVE STATED BOARDS CIRCULAR AND DISMISS THE INSTANT APPEAL ACCORDINGLY. 3. THIS REVENUES APPEAL IS DISMISSED AS HAVING LOW TAX EFFECT. [PRONOUNCED IN THE OPEN COURT ON THIS THE 29 TH DAY OF MARCH, 2017.] SD/- SD/- ( AMARJIT SINGH ) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL ME MBER AHMEDABAD: DATED 29/03/2017 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 45 / GUARD FILE. BY ORDER / . // . /0