The ITO, Ward-1(4), RAJKOT-GUJARAT V. Shri Manharlal Vora, RAJKOT-GUJARAT

ITA 370/RJT/2012

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 1324 (ITAT-RAJKOT)
• Duration Of Justice: 3 year(s) 10 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-04-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 08-04-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 05-06-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIMAL MEHTA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BEN CH, RAJKOT [CONDUCTED THROUGH E-COURT AT AHMEDABAD] (BEFORE SHRI ANIL CHATURVEDI, A.M. & SHRI S. S. GOD ARA, J.M.) ( , , ) ITA NO. 370/RJT/2012 (ASSESSMENT YEAR: 2008-09) ITO, WARD 1(4), RAJKOT VS. SHRI MANHARLAL VORA MAUKTIK, BEHIND SILVER PALACE, 2, MANHAR PLOT RAJKOT PAN: AAXPV6766B (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI VIMAL MEHTA, D.R. RESPONDENT BY : SHRI MEHUL RANPURA, C.A. DATE OF HEARING : 08 -04-20 16 DATE OF PRONOUNCEMENT : 11-04-2016 ( )/ ORDER PER ANIL CHATURVEDI, ACCOUNTANT MEMBER THIS APPEAL FILED BY THE REVENUE IS AGAINST THE ORD ER OF CIT(A)-I, RAJKOT, DATED 30.03.2012 FOR A.Y. 2008-09. 2. THE GROUND RAISED BY THE REVENUE IN THE PRESENT APPEAL READS AS UNDER:- 1. THE LEARNED CIT(A)-I, HAS ERRED IN LAW AND ON F ACTS OF THE CASE IN DELETING THE ADDITION OF RS.31,37,055/- MADE BY THE ASSESSING OFFICER ON ACCOUNT OF LTCG. 3. BEFORE US, AT THE OUTSET, LD. A.R. SUBMITTED THA T THE PRESENT APPEAL OF THE REVENUE NEEDS TO BE DISMISSED ON ACCOUNT OF LOW TAX EFFECT IN VIEW OF THE CBDT CIRCULAR NO. 21 OF 2015 DATED 10.12.2015. THE LD. D.R. FAIRLY ADMITTED THAT THE TAX EFFECT IS LESS THAN THE LIMIT PRESCRIBED BY THE AFO RESAID CBDT CIRCULAR. ITA NO 370/RJT/2012 . A.Y. 2008-09 2 4. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. ON PERUSING THE GROUNDS OF APPEAL RAISED BY THE REVENU E, WE FIND THAT REVENUE IS AGGRIEVED BY THE DELETION OF ADDITION OF RS.31,37,0 55/-. AS PER THE ANNOUNCEMENT OF CENTRAL BOARD OF DIRECT TAXES (CBDT) DATED 10.12.2015 ( CIRCULAR NO. 21 OF 2015), NO DEPARTMENT APPEALS ARE TO BE FILED AGAINS T RELIEF GIVEN BY LD. CIT(A) BEFORE THE INCOME TAX TRIBUNAL UNLESS THE TAX EFFEC T, EXCLUDING INTEREST EXCEEDS RS. 10 LACS AND IT FURTHER STATES THAT THE INSTRUCTIONS WILL APPLY RETROSPECTIVELY TO THE PENDING APPEALS. IN THE PRESENT CASE, SINCE IT IS A N UNDISPUTED FACT THAT ON THE DEMAND WHICH IS IN DISPUTE, THE TAX EFFECT IS LESS THAN RS.10 LACS AND IN THE ABSENCE OF ANY MATERIAL ON RECORD BY THE REVENUE TO DEMONST RATE THAT THE ISSUE IN THE PRESENT APPEAL IS COVERED BY EXEMPTIONS SPECIFIED IN CLAUSE (8) OF THE CBDT CIRCULAR, WE ARE OF THE VIEW THAT THE MONETARY LIMIT PRESCRIBE D BY THE INSTRUCTIONS OF THE AFORESAID CBDT CIRCULAR WOULD BE APPLICABLE T O THE PRESENT APPEAL OF THE DEPARTMENT AND THEREFORE THE PRESENT APPEAL IS NOT MAINTAINABLE ON ACCOUNT OF LOW TAX EFFECT. IN SUCH CIRCUMSTANCES, WE DISMISS T HE APPEAL OF REVENUE WITHOUT EXPRESSING ANY OPINION ON MERITS OF THE CASE. 5. IN THE RESULT, THE APPEAL OF REVENUE IS DISMISSE D. ORDER PRONOUNCED IN OPEN COURT ON 11/04/2016 SD/- SD/- (S. S. GODARA) (ANIL CHATURVEDI) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD: DATED. 11/04/2016 TRUE COPY S K SINHA COPY OF THE ORDER FORWARDED TO:- 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT (APPEALS) 4. THE CIT CONCERNED. 5. THE DR., ITAT, AHMEDABAD. 6. GUARD FILE. ITA NO 370/RJT/2012 . A.Y. 2008-09 3 BY ORDER DEPUTY/ASSTT.REGISTRAR ITAT, RAJKOT