Shri Suryakant Nemchand Shah, Ahmedabad V. The Income tax Officer,Ward-3(3), Ahmedabad

ITA 3471/AHD/2010

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 50554 (ITAT-AHMEDABAD)
• Duration Of Justice: 8 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-09-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2007-2008
• Appeal Filed On: 29-12-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: U S BHATI
• Section: 143(3)

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL AT AHMEDABAD, B BENCH . . , , ! . ' . #$ , % ' ITA NO.3471/AHD/2010 [ASSTT. YEAR : 2007-2008] SHRI SURYAKANT NEMCHAND SHAH ASTODIA RANGATI BAZAR MADAN GOPAL HAVELI ROAD AHMEDABAD. PAN : ABBFS 5682 E /VS. ITO, WARD-3(3) AHMEDABAD. ( &' / APPELLANT) ( (#&' / RESPONDENT) )* + , ' / ASSESSEE BY : SHRI U.S. BHATI % + , ' / REVENUE BY : SHRI SAMIR TEKRIWAL -. + */ / DATE OF HEARING : 2 ND SEPTEMBER, 2011 012 + */ / DATE OF PRONOUNCEMENT : 2 ND SEPTEMBER, 2011 '3 / O R D E R G.D. AGARWAL, VICE-PRESIDENT : THIS IS ASSESSEES APPEAL AGAINST THE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS)-X VI, AHMEDABAD DATED 30.11.2010 ARISING OUT OF THE ORDER OF THE ASSESSIN G OFFICER PASSED UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961. 2. THE ONLY GROUND RAISED IN THIS APPEAL BY THE ASS ESSEE READS AS UNDER: ITA NO.3471/AHD/2010 -2- 1. THE LD.CIT(A) HAS ALSO ERRED IN LAW AND ON FACT S IN CONFIRMING THE DISALLOWANCE OF INTEREST AMOUNTING T O RS.2,88,490/- WITHOUT CONSIDERING THE EVIDENCE PLACED ON RECORD R EGARDING RELEVANT CASH CREDITS. 3. AT THE TIME OF HEARING BEFORE US, IT WAS FAIRLY ADMITTED BY THE LEARNED COUNSEL THAT THIS ISSUE IS CONSEQUENTIAL TO THE ADD ITION FOR CASH CREDIT IN A.Y.2006-2007. IN THE YEAR UNDER CONSIDERATION, TH E AO DISALLOWED THE INTEREST ON THE CASH CREDIT WHICH WAS NOT ACCEPTED IN A.Y.2006-07. HE HAS STATED THAT IN A.Y.2006-07, THE ITAT VIDE ITA NO.13 83/AHD/2010 SET ASIDE THE MATTER BACK TO THE FILE OF THE CIT(A) FOR RE-ADJUDI CATION. HE THEREFORE SUBMITTED THAT FOR THE YEAR UNDER CONSIDERATION ALS O THE MATTER SHOULD BE SET ASIDE TO THE FILE OF THE CIT(A) FOR RE-ADJUDICATION . 4. THE LEARNED DR HAS NO OBJECTION TO THIS PROPOSAL OF THE LEARNED COUNSEL. WE THEREFORE SET ASIDE THE ORDER OF THE CIT(A) AND RESTORE THE MATTER BACK TO HIS FILE WITH THE DIRECTION THAT THE SAME WOULD BE RE-ADJUDICATED KEEPING IN VIEW HIS DECISION FOR A.Y.2006-2007. 5. IN THE RESULT, ASSESSEES APPEAL IS DEEMED TO BE ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN OPEN COURT ON THE DATE MENTIONE D HEREINABOVE. SD/- SD/- ( . .. .' '' ' . .. .#$ #$ #$ #$ /D.K. TYAGI) % % % % /JUDICIAL MEMBER ( . .. . . .. . G.D. AGARWAL) /VICE-PRESIDENT COPY OF THE ORDER FORWARDED TO: 1) : ASSESSEE 2) : DEPARTMENT 3) : CIT(A) 4) : CIT CONCERNED 5) : DR, ITAT. BY ORDER DR/AR, ITAT, AHMEDABAD