The DCIT, Central Circle-2, Baroda V. M/s. Rubamin Ltd., Baroda

ITA 415/AHD/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 1428 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 3 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-06-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: I
• Assessment Year: 2006-2007
• Appeal Filed On: 26-02-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K KHANDELWAL
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD I BENCH BEFORE: S H RI PRAMOD KUMAR , ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER THE DCIT, CENTRAL CIRCLE - 2, BARODA (APPELLANT) VS M/S. RUBAMIN LTD, 2 ND FLOOR, SUBHANPURA ROAD, SUBHANPURA, BARODA - 390023 PAN: AAACR8758H (RESPONDENT) REVENUE BY : S H RI A.K. KHANDELWAL, CIT - D . R. ASSESSEE BY: NONE (WRITTEN SUBMISSION) DATE OF HEARING : 07 - 06 - 2 016 DATE OF PRONOUNCEMENT : 08 - 06 - 2 016 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 2005 - 06 , AR IS ES FROM ORDER OF THE CIT(A) - 2, VADODARA DATED 30 - 12 - 2014 IN APPEAL NO. CAB(A) - 2/035/14 - 15 , IN PROCEEDINGS UNDE R SECTION 271(1 ) (C) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T A NO . 415 / A HD/20 15 A SSESSMENT YEAR 200 6 - 07 I .T.A NO. 415 /AHD/20 15 A.Y. 2006 - 07 PAGE NO DCIT VS. M/S. RUBAMIN LTD 2 2. THE REVENUE S SOLE SUBSTANTIVE GROUND CHALL ENGES THE LOWER APPELLATE ORDER DELETING THE PENALTY OF RS. 9,54,000/ - MADE IN ASSESSMENT ORDER DATED 24 - 02 - 2010 . THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN RS. 10 LACS. WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES ; HEREAFTER THE BOARD HAS ISSUED THE CIRCULAR NO. 21/2015 DATED 10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CIRCULAR. THE SAME HAS BEEN D ECLARED TO BE HAVING RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION THE ABOVE STATED BOARD S CIRCULAR AND DISMISS THE INSTANT APPEAL ACCORDINGLY. 3. THIS REVENUE S APPEAL IS DIS MISSED AS HAVING LOW TAX EFFECT. ORDER PR ON OUNCED IN THE OPEN C OURT ON 08 - 06 - 201 6 SD/ - SD/ - ( PRAMOD KUMAR ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 08 /06 /2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , I .T.A NO. 415 /AHD/20 15 A.Y. 2006 - 07 PAGE NO DCIT VS. M/S. RUBAMIN LTD 3 / ,