ITO, Ward-2(1)(4), Ahmedabad V. Maheshraj Chemicals Pvt.Ltd., Ahmedabad

ITA 3057/AHD/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 8003 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 1 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-12-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2008-2009
• Appeal Filed On: 02-11-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Rectification of order; Retrospective amendment; Tax effect
• Section: 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH AHMEDABAD BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER ITA NO. 3057/AHD/2015 (ASSESSMENT YEAR: 2008-09) THE INCOME- TAX OFFICER, WARD-2(1)(4), 1 ST FLOOR, NAVJIVAN TRUST BUILDING, AHMEDABAD-380009 APPELLANT VS. MAHESHRAJ CHEMICALS PVT. LTD., B/1-6, GIDC ESTATE, NARODA, AHMEDABAD 382330 RESPONDENT PAN: AABCM0424C /BY REVENUE : SHRI PRASOON KABRA, SR. D.R. /BY ASSESSEE : URVASHI SHODHAN, A.R. /DATE OF HEARING : 28.12.2017 /DATE OF PRONOUNCEMENT : 28.12.2017 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS REVENUES APPEAL FOR ASSESSMENT YEAR 2008-09 A RISES AGAINST THE CIT(A)-2, AHMEDABADS ORDER DATED 10.08.2015 IN CAS E NO. CIT(A)- 2/389/WD.2(1)(4)/2014-15, REVERSING ASSESSING OFFIC ERS ACTION DISALLOWING / ADDING AN AMOUNT OF RS.24,60,908/- U/S.36(1)(III) I N RECTIFICATION ORDER DATED 07.01.2015 INVOLVING PROCEEDINGS U/S. 154 OF THE IN COME TAX ACT, 1961; IN SHORT THE ACT. 2. WE NOTICE AT THE OUTSET THAT THE REVENUES ABOVE SOLE SUBSTANTIVE GROUND SEEKING TO REVIVE SECTION 36(1)(III) INTEREST DISAL LOWANCE OF RS.24,60,908/- INVOLVES ITA NO. 3057/AHD/15 [ITO VS. MAHESHRAJ CHEMICALS PV T. LTD.] A.Y. 2008-09 - 2 - TAX EFFECT LESS THAN RS.10LACS HELD TO BE THE PRESC RIBED LIMIT AS PER CBDTS CIRCULAR NO. 21/2015 DATED 10.12.2015 CLEARLY ENVISAGING THE REIN THAT DEPARTMENTS PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE W ITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CIRCULAR. THE SAME HAS BEEN DECLARED TO BE HAVING RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION THE ABO VE STATED BOARDS CIRCULAR AND DISMISS THE INSTANT APPEAL ACCORDINGLY. 3. THE REVENUES APPEAL IS DISMISSED AS HAVING LOW TAX EFFECT. [PRONOUNCED IN THE OPEN COURT ON THIS THE 28 TH DAY OF DECEMBER, 2017.] SD/- SD/- ( MANISH BORAD ) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL M EMBER AHMEDABAD: DATED 28/12/2017 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 / GUARD FILE. BY ORDER / . // . /0