The DCIT, Circle-3(1)(2), Ahmedabad V. M/s. Oracle Granito Ltd., Ahmedabad

ITA 441/AHD/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 8345 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 7 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-10-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 27-02-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: A T THAKKAR AR
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, AHMEDABAD , , BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER ./ I.T.A. NO.441/AHD/2015 ( / ASSESSMENT YEAR : 2010-11) THE DCIT CIRCLE-3(1)(2) AHMEDABAD / VS. M/S.ORACLE GRANITO LTD. 206, DEVARC, 2 ND FLOOR NR. FUN REPUBLIC OPP. BIG BAZAR S.G. HIGHWAY ROAD AHMEDABAD-380 015 # ./ ./ PAN/GIR NO. : AAACO 6238 P ( #& / APPELLANT ) .. ( '#& / RESPONDENT ) #&( / APPELLANT BY : SHRI MUDIT NAGPAL, SR.DR '#& )( / RESPONDENT BY : SHRI A.T. THAKKAR, AR *+ ), / DATE OF HEARING 13/10/2017 -./0 ), / DATE OF PRONOUNCEMENT 16/ 10 /2017 / O R D E R PER PRADIP KUMAR KEDIA - AM: THE CAPTIONED APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS)-9, AHME DABAD [CIT(A) IN SHORT] DATED 31/12/2014 FOR THE ASSESSMENT YEAR (AY) 2010-11. 2. THE GROUNDS OF APPEAL RAISED BY THE REVENUE RE AD AS UNDER:- ITA NO.441/AHD/ 2015 DCIT VS.ORACLE GRANITO LTD. ASST.YEAR 2010-11 - 2 - 1) THE CIT(A) HAS ERRED IN LAW AND ON FACTS IN DELETI NG THE ADDITION OF RS.17,01,717/-MADE U/S.145A OF THE ACT ON ACCOUNT O F ADJUSTMENT TO THE VALUE OF CLOSING STOCK. 2) ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD. COMMISSIONER OF INCOME TAX (A) OUGHT TO HAVE UPHELD THE ORDER OF TH E ASSESSING OFFICER. 3. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD.AR FOR THE ASSESSEE THAT APPEAL FILED BY THE REVENUE IS HIT BY CBDT CIRCULAR NO.21 OF 2015 DATED 10/12/2015. AS PER AFORESAID CIRCULA R, ALL PENDING APPEALS FILED BY REVENUE ARE LIABLE TO BE DISMISSED AS A ME ASURE FOR REDUCING LITIGATION WHERE THE TAX EFFECT DOES NOT EXCEED THE PRESCRIBED MONETARY LIMIT WHICH IS RS.10 LAKHS. IN THE INSTANT CASE, T HE TAX EFFECT ON THE DISPUTED ISSUE RAISED BY THE REVENUE IS STATED TO B E LESS RS.10 LAKHS AND THEREFORE APPEAL OF THE REVENUE IS REQUIRED TO BE D ISMISSED IN LIMINE . 4. THE LD.DR FOR THE REVENUE FAIRLY ADMITTED THE AP PLICABILITY OF THE CBDT CIRCULAR NO.21 OF 2015. ACCORDINGLY, APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. HOWEVER, IT WILL BE OPEN TO THE REVENUE TO SEEK RESTORATION OF ITS APPEAL ON SHOWING INAPPL ICABILITY OF THE AFORESAID CBDT CIRCULAR IN ANY MANNER. ITA NO.441/AHD/ 2015 DCIT VS.ORACLE GRANITO LTD. ASST.YEAR 2010-11 - 3 - 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DIS MISSED. THIS ORDER PRONOUNCED IN OPEN COURT ON 16/ 10 /2017 SD/- SD/- ( ) ( ) ( MAHAVIR PRASAD ) ( PRADIP KUMAR KEDIA ) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD; DATED 16/ 10 /2017 4..*,.*../ T.C. NAIR, SR. PS !'#$#! / COPY OF THE ORDER FORWARDED TO : 1. #& / THE APPELLANT 2. '#& / THE RESPONDENT. 3. 567, 8, / CONCERNED CIT 4. 8, ( ) / THE CIT(A)-9, AHMEDABAD 5. 9:;,*67 , 67 0 , 5 / DR, ITAT, AHMEDABAD 6. ;<+ / GUARD FILE. / BY ORDER, '9,, //TRUE COPY// / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD 1. DATE OF DICTATION .. 13.10.17(COVERED CASE BEL OW TAX EFFECT) 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 13.10.17 3. OTHER MEMBER 4. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.P. S./P.S.. 5. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 6. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.P .S./P.S.16.10.17 7. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 16.10.17 8. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK ... 9. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER.. 10. DATE OF DESPATCH OF THE ORDER