The DCIT(OSD-1)Circle-4, Ahmedabad V. Lancer Laser Tech Ltd., Gandhinagar

ITA 2984/AHD/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 0564 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 9 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-09-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 08-09-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 13-12-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH BEFORE: SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER THE D CIT (OSD) , CIR.4, AHMEDABAD, NAVJIVAN TRUST BUILDING, OFF. ASHRAM ROAD AHMEDABAD (APPELLANT) VS LANCER LASER TECH LTD, 17 - B, KUNALDEEP INDUSTRIAL ESTATE, OPP. NEW ARVIND MILLS, KHATRAJ, GANDHINAGAR, PAN: AAACL5061F (RE SPONDENT) REVENUE BY : S H RI JAMES KURIAN, SR. D . R. ASSESSEE BY: NONE DATE OF HEARING : 08 - 09 - 2 016 DATE OF PRONOUNCEMENT : 16 - 09 - 2 016 / ORDER P ER : AMARJIT SINGH, ACCOUNTANT MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 2010 - 11 , AR ISES FROM ORDER OF THE CIT(A) - VIII , AHMEDABAD DATED 12 - 09 - 2013 IN APPEAL NO. CIT(A) - VIII/D C IT/CIR - 4/115/12 - 13 , IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T A NO . 2984 / A HD/20 13 A SSESSMENT YEAR 2010 - 11 I.T.A NO. 2984/AHD/2013 A.Y. 2010 - 11 PAGE NO D CI T(OSD) VS. LANCER LASER TECH LTD. 2 2. THE REVENUE S TWIN SUBSTANTIVE GROUND S CHALLENGE THE LOWER AP PELLATE ORDER DELETING THE ADDITION MADE ON ACCOUNT OF DISALLOW ANCE OF BAD DEBT AND THAT ON ACCOUNT OF DISALLOWANCE OF EXCESS INTEREST OF RS. 12,19,543/ - A ND RS. 16, 69, 426 / - ; RESPECTIVELY MADE IN ASSESSMENT ORDER DATED 28 - 01 - 2013 . THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN RS. 10 LACS. WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES; HEREAFTER THE BOARD HAS ISSUED T HE 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10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE ST ATED CIRCULAR .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 E FFECT 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 EFFECT. ORDER PR ONOUNCED IN THE OPEN C OURT ON 16 - 09 - 20 1 6 SD/ - SD/ - ( RAJPAL YADAV ) ( AMARJIT SINGH ) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD : DATED 16 /09 /2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) I.T.A NO. 2984/AHD/2013 A.Y. 2010 - 11 PAGE NO D CI T(OSD) VS. LANCER LASER TECH LTD. 3 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,