The ITO, Ward-5(2), Surat V. Shri Vajendra Fulchand Chaliawala, Surat

ITA 2898/AHD/2011

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 1758 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 5 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-04-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 28-04-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 22-11-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: M K PATEL
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH BEFORE: S H RI ANIL CHATURVEDI , ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER THE ITO, WARD 5(2), ROOM NO. 314, 3 RD FLOOR, AAYKAR BHAVAN, MAJURA GATE, SURAT (APPELLANT) VS SHRI VAJENDRA FULCHAND CHALIAWALA, C/O. VIJBHUKHANDAS & BROS. KANPITH, SURAT 395003 PAN: AAVPC8759K (RESPONDENT) REV ENUE BY : S H RI ALPESH PARMAR, SR. D . R. ASSESSEE BY: S H RI M.K. PATEL , A.R. DATE OF HEARING : 28 - 04 - 2 016 DATE OF PRONOUNCEMENT : 29 - 04 - 2 016 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 200 8 - 09 , AR ISES FROM ORDER OF THE CIT(A) - I V, SURAT DATED 05 - 07 - 2011 IN APPEAL NO. CAS - I V/154/10 - 11 , IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T A NO . 2898 / A HD/20 11 A SSESSMENT YEAR 200 8 - 09 I.T.A NO. 2898/AHD/2011 A.Y. 2008 - 09 PAGE NO ITO VS. SHRI VAJEN DRA FULCHAND CHALIAWALA 2 2. THE REVENUE S TWIN SUBSTANTIVE GROUND S CHALLENGE THE LOWER AP PELLATE ORDER DELETING THE ADDITION MADE ON ACCOUNT OF UNEXPLAINED CASH BALANCE AND THAT ON ACCOUNT OF UNEXPLAINED CASH DEPOSIT OF RS. 16,20,998/ - AND RS. 13, 92, 916 / - ; RESPEC TIVELY MADE IN ASSESSMENT ORDER DATED 30 - 12 - 2010 . LD. AUTHORIZED REPRESENTATIVE SUBMITS A COMPUTATION CHART STATING NET TAX EFFECT INVOLVED AS RS. 9,94,592/ - IS LESS THAN RS. 10 LACS. THE REVENUE DOES NOT DISPUTE CORRECTNESS THEREOF. WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES; HEREAFTER THE BOARD HAS ISSUED THE CIRCULAR NO. 2 1/2015 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10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE ST ATED CIRCULAR . THE SAME HAS BEEN DECLARED 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 AS HAVING LOW TAX EFFEC T. ORDER PR ONOUNCED IN THE OPEN C OURT ON 29 - 04 - 201 6 SD/ - SD/ - ( ANIL CHATURVEDI ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 29 /04 /2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE I.T.A NO. 2898/AHD/2011 A.Y. 2008 - 09 PAGE NO ITO VS. SHRI VAJEN DRA FULCHAND CHALIAWALA 3 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,