The ITO, Ward-9(1), Ahmedabad V. M/s. Parshwanath Corporation, Ahmedabad

ITA 3490/AHD/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 1867 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-04-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 06-04-2016
• Assessment Year: 2011-2012
• Appeal Filed On: 11-12-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

I T A NO . 3490 /AHD/201 5 ASSESSMENT YEAR: 20 11 - 12 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD B BENCH, AHMEDABAD [CORAM : PRAMOD KUMAR AM AND S S GODARA JM ] I TA NO. 3490 /AHD/ 20 1 5 ASSESSMENT YEAR : 20 11 - 12 DY. COMMISSIONER OF INCOME TAX , CIRCLE - 2 ( 2 ), AHMEDABAD. .. .APPELLANT VS. PARSHWANATH CORPORATION .. .. . RESPONDENT 50, HARISIDDHI CHAMBERS, ASHRAM ROAD , [PAN: A ABFP 9058 J ] APPEARANCES BY: R.K. GUPTA , FOR THE APPELLANT A RTI N. SHAH , FOR THE RESPONDENT D ATE OF CONCLUDING THE HEARING : APRIL 6 TH , 201 6 DATE OF PR ONOUNCING THE ORDER : APRIL 15 TH , 201 6 O R D E R PER PRAMOD KUMAR , AM : 1. BY WAY OF THIS APPEAL, THE ASSESSING OFFICER HAS CHALLENGED CORRECTNESS OF THE ORDER DATED 3 RD SEPTEMBER 2015, PASSED BY THE L EARNED CIT(A), FOR THE ASSESSMENT YE AR 20 11 - 12 , ON THE FOLLOWING GROUNDS : - 1 . T HE LEARNED CIT ( A ) HAS E R RED IN LAW AND ON FACTS IN DELETING THE PENALTY OF RS.5,00,000/ - LEVIED BY THE AO U/S 271(1)(C) OF THE ACT, WITHOUT PROPERLY APPRECIATING THE FACTS OF THE CASE AND THE MATERIAL BROUGHT O N RECORD. 2 . ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) OUGHT TO HAVE UPHELD THE ORDER OF THE ASS ES SING OFFICER. 3. IT IS, THEREFORE, PRAYED THAT THE ORDER OF THE LD. CIT(A) MAY BE SET ASIDE AND THAT OF THE ASSESSING OFFICER MAY BE RESTORED TO THE ABOVE EXTENT. I T A NO . 3490 /AHD/201 5 ASSESSMENT YEAR: 20 11 - 12 PAGE 2 OF 2 2. WE HAVE NOTICED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS.10,00,000/ - . IN VIEW OF THIS UNDISPUTED FACT AND IN THE LIGHT OF CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE ARE OF THE CONSIDE RED VIEW THAT THIS APPEAL IS LIABLE TO BE DISMISSED AS WITHDRAWN FOR THE SIMPLE REASON THAT TAX EFFECT INVOLVED IN THE APPEAL IS LESS THAN RS.10,00,000/ - . 3 . IN THE RESULT, THE APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THIS 1 5 TH DAY OF AP RIL , 2016 . SD/ - SD/ - S S GODARA PRAMOD KUMAR (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) PBN/* DATED: THE 15 TH DAY OF APRIL , 201 6 . COPIES TO : (1) THE APPELLANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD