The ITO, Ward-1(3)(2), Ahmedabad V. Shri Jayantilal Jivanlal Soni, Ahmedabad

ITA 3056/AHD/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 2432 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 9 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2007-2008
• Appeal Filed On: 22-11-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

, B IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER & SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ./ I.T.A. NO. 3056/AHD/2016 ( ASSESSMENT YEAR : 2007-08) INCOME-TAX OFFICER WARD-1(3)(2), AHMEDABAD / VS. SHRI JAYANTILAL JIVANLAL SONI PROP. CHAMUNDA JEWELLERS, 448, KUBER BHAVAN, NR. SANKDI SHERI NAKA, MANEK CHOWK AHMEDABAD ./ ./ PAN/GIR NO. : AAAHJ8579D ( APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI MUDIT NAGPAL, SR. D.R. / RESPONDENT BY : MS. ARTI SHAH, A.R. DATE OF HEARING 31/08/2018 !'# / DATE OF PRONOUNCEMENT 06/09/2018 / O R D E R PER PRADIP KUMAR KEDIA - AM: THE CAPTIONED APPEAL HAS BEEN FILED AT THE INSTANCE OF THE REVENUE AGAINST THE ORDER OF THE CIT(A)-4, AHMEDABA D (CIT(A) IN SHORT), DATED 06.09.2016 ARISING IN THE ASSESSME NT ORDER DATED ITA NO. 3056/AHD/16 [ITO VS. SHRI JAYANTILAL J. SONI] A.Y. 2007-08 - 2 - 22.02.2013 PASSED BY THE ASSESSING OFFICER (AO) UND ER S. 143(3) OF THE INCOME TAX ACT, 1961 (THE ACT) CONCERNING AS SESSMENT YEAR 2007-08. 2. THE GROUNDS OF APPEAL RAISED BY THE REVENUE REA DS AS UNDER:- 1. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN DELETING THE ADDITION OF RS.35,29,200/- MADE BY THE AO ON ACCOUNT OF UNDISCL OSED STOCK. 2. THAT THE LD. CIT(A) HAS ERRED IN LAW AND ON FACT S IN DELETING THE ADDITION OF RS.4,59,392/- MADE BY THE AO ON ACCOUNT OF DISALLOW ANCE OF LABOUR CHARGES. 3. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD.AR FOR THE ASSESSEE THAT THE APPEAL FILED BY THE REVENUE I S HIT BY RECENTLY ISSUED CBDT CIRCULAR NO.3 OF 2018 DATED 11/07/2018 REVISING THE PREVIOUS THRESHOLDS PERTAINING TO TAX EFFECTS. AS PER AFORESAID CIRCULAR, ALL PENDING APPEALS FILED BY REVENUE ARE LIABLE TO BE DISMISSED AS A MEASURE FOR REDUCING LITIGATION WHER E THE TAX EFFECT DOES NOT EXCEED THE PRESCRIBED MONETARY LIMIT WHICH IS NOW REVISED AT RS.20 LAKHS. IN THE INSTANT CASE, THE T AX EFFECT ON THE DISPUTED ISSUES RAISED BY THE REVENUE IS STATED TO BE NOT EXCEEDING RS.20 LAKHS AND THEREFORE APPEAL OF THE R EVENUE IS REQUIRED TO BE DISMISSED IN LIMINE . 4. THE LEARNED DR FOR THE REVENUE FAIRLY ADMITTED T HE APPLICABILITY OF THE CBDT CIRCULAR NO. 3 OF 2018. A CCORDINGLY, APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINA BLE. HOWEVER, ITA NO. 3056/AHD/16 [ITO VS. SHRI JAYANTILAL J. SONI] A.Y. 2007-08 - 3 - IT WILL BE OPEN TO THE REVENUE TO SEEK RESTORATION OF ITS APPEAL ON SHOWING INAPPLICABILITY OF THE AFORESAID CBDT CIRCU LAR IN ANY MANNER. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. SD/- SD/- (RAJPAL YADAV) (PRADIP K UMAR KEDIA) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD: DATED 06/09/2018 TRUE COPY S. K. SINHA !'#' / COPY OF ORDER FORWARDED TO:- &. / REVENUE 2. / ASSESSEE (. )*+ , / CONCERNED CIT 4. ,- / CIT (A) /. 012 33*+4 *+#4 56) / DR, ITAT, AHMEDABAD 7. 289 : / GUARD FILE. BY ORDER / 4 /5 *+#4 56) THIS ORDER PRONOUNCED IN OPEN COURT ON 06/09/201 8