Nirma Chemical Works Ltd., Ahmedabad V. The ACIT., Cent.Circle-1(1), Ahmedabad

ITA 3760/AHD/2007

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 80401 (ITAT-AHMEDABAD)
• Duration Of Justice: 7 year(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-10-2014
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 20-10-2014
• Assessment Year: 2000-2001
• Appeal Filed On: 01-10-2007
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH AHMEDABAD , BEFORE SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBER, AND SHRI N. S. SAINI, ACCOUNTANT MEMBER. ITA.NO.3760/AHD/2007 (ASSESSMENT YEAR:2000-01) NIRMA CHEMICAL WORKS LTD. NIRMA HOUSE, ASHRAM ROAD, AHMEDABAD. APPELLANT VS. ACIT, CENTRAL CIRCLE 1(1), AHMEDABAD. RESPONDENT PAN: AAACN5353L /BY APPELLANT :SHRI S. N. SOPARKAR, A.R. /BY RESPONDENT : SHRI SUBHASH BAINS, CIT D.R. !'# /DATE OF HEARING : 20.10.2014 $%& !'# /DATE OF PRONOUNCEMENT : 20 .10.2014 ORDER PER SHAILENDRA KUMAR YADAV, J.M: I.T.A. NO. 3760/AHD/2007 A.Y. 2000-01 (NIRMA CHEMICAL WORKS LTD. VS. ACIT) PAGE 2 THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS)-II, AHMEDAB AD, DATED 20.07.2007 FOR A.Y. 2000-01 ON THE FOLLOWING POINTS . 1) IN LAW AND IN FACTS AND CIRCUMSTANCES OF THE APPELLANTS CASE, THE LEARNED COMMISSIONER OF INCOM E- TAX (APPEALS) HAS GROSSLY ERRED IN POINTS OF LAW AN D FACTS. 2) IN LAW AND IN FACTS AND CIRCUMSTANCES OF THE APPELLANTS CASE, THE LEARNED COMMISSIONER OF INCOM E- TAX (APPEALS) HAS GROSSLY ERRED IN CONFIRMING THE INCOME OF VYAJ BADLA RS.3,63,329 EARNED IN SHARES A S INTEREST INCOME INSTEAD OF SHORT TERM CAPITAL GAIN. 3) IN LAW AND IN FACTS AND CIRCUMSTANCES OF THE APPELLANTS CASE, THE LEARNED COMMISSIONER OF INCOM E- TAX (APPEALS) HAS GROSSLY ERRED IN DISMISSING APPELLANTS CONTENTION THAT LOSS OF RS.60,220 SHOUL D BE CARRED FORWARD. 4) IN LAW AND IN FACTS AND CIRCUMSTANCES OF THE APPELLANTS CASE, THE LEARNED COMMISSIONER OF INCOM E- TAX (APPEALS) HAS GROSSLY ERRED IN HOLDING THAT LEV Y OF INTEREST U/SS. 234A, 234B, 234C AND 234D OF I.T. AC T IS CONSEQUENTIAL. 2. AT THE TIME OF HEARING, LD. A.R. DID NOT PRESS M AIN GROUNDS I.E. GROUND NOS. 2, 3 & 4 WHILE GROUND NO. 1 & 5 AR E GENERAL IN NATURE. SO, APPEAL OF ASSESSEE IS DISMISSED AS NOT PRESSED. 3. AS A RESULT, APPEAL FILED BY THE ASSESSEE IS DIS MISSED AS NOT PRESSED. I.T.A. NO. 3760/AHD/2007 A.Y. 2000-01 (NIRMA CHEMICAL WORKS LTD. VS. ACIT) PAGE 3 PRONOUNCED IN THE OPEN COURT ON THIS THE 20 TH DAY OF OCTOBER, 2014. SD/- SD/- (N. S. SAINI) (SHAILENDR A KUMAR YADAV) ACCOUNTANT MEMBER JUDICIAL MEMB ER TRUE COPY S.K.SINHA ' ' ' ' !( !( !( !( )(&! )(&! )(&! )(&! / COPY OF ORDER FORWARDED TO:- 1. ,- / REVENUE 2. / ASSESSEE 3. 00! 1 / CONCERNED CIT 4. 1- / CIT (A) 5. (56 !, , / DR, ITAT, AHMEDABAD 6. 69: ;< / GUARD FILE. BY ORDER / ' , =/ 0, , ?