The ITO, Ward-2, Surendranagar V. Shri Alkeshumar Chandrakant Shah, Surendranagar

ITA 462/RJT/2012

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 1286 (ITAT-RAJKOT)
• Duration Of Justice: 3 year(s) 8 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-05-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 02-05-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 07-08-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: MJ RANPURA
• Keywords: Unexplained investment; Tax effect
• Section: 69C

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT [CONDUCTED THROUGH E-COURT AT AH MEDABAD] (BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER & SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER) ITA. NO: 462/RJT/2012 & C.O.NO. 34/RJT/12 (ASSESSMENT YEAR: 2008-09) INCOME TAX OFFICER, WARD- 2, SURENDRANAGAR SHRI ALKESHKUMAR CHANDRAKANT SHAH, NEAR JANYUG PRESS, NEW JUNCTION ROAD, SURENDRANAGAR V/S V/S SHRI ALKESHKUMAR CHANDRAKANT SHAH, NEAR JANYUG PRESS, NEW JUNCTION ROAD, SURENDRANAGAR INCOME TAX OFFICER, WARD- 2, SURENDRANAGAR (APPELLANT) (RESPONDENT) PAN: AQEPS8264N APPELLANT BY : SHRI ARVIND KUMAR, SR. D.R . RESPONDENT BY : SHRI M.J. RANPURA, C.A. ( )/ ORDER DATE OF HEARING : 02 -05-201 6 DATE OF PRONOUNCEMENT : 04 -05-2016 PER N.K. BILLAIYA, ACCOUNTANT MEMBER: ITA NO. 462 & CO. NO. 34/RJT/2012 . A.Y.2008-09 2 1. THIS APPEAL BY THE REVENUE AND THE CROSS OBJECTION BY THE ASSESSEE ARE DIRECTED AGAINST THE VERY SAME ORDER OF THE LD. CIT(A)-XVI, AHMEDABAD DATED 21.05.2012 PERTAINING TO A.Y. 2008- 09. 2. THE GRIEVANCE OF THE REVENUE IS THAT THE LD. CIT(A) ERRED IN DELETING THE ADDITION OF RS. 25,10,277/- MADE ON ACCOUNT OF UNACCOUNTED INVESTMENT U/S. 69C OF THE ACT. 3. WITHOUT GOING INTO THE MERITS OF THE CASE, IN OUR C ONSIDERED OPINION, THE TAX INVOLVED IN THE IMPUGNED DELETION OF THE AD DITION IS LESS THAN RS. 10 LACS. THEREFORE, THIS APPEAL BY THE REVENUE NEEDS TO BE DISMISSED IN THE LIGHT OF THE CBDT CIRCULAR NO. 21/ 2015 DATED 10.12.2015 WHEREIN THE CBDT HAS DIRECTED NOT TO FIL E APPEAL IN CASES WHERE THE TAX EFFECT DOES NOT EXCEED RS. 10 LACS. A PPEAL OF THE REVENUE IS ACCORDINGLY DISMISSED. 4. COMING TO THE CROSS OBJECTION OF THE ASSESSEE, THE LD. COUNSEL STATED THAT HE IS NOT PRESSING THE SAME AND ACCORDINGLY C. O OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 04 - 05 - 2 016. SD/- SD/- (RAJPAL YADAV) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD: TRUE COPY RAJESH COPY OF THE ORDER FORWARDED TO: - 1. THE APPELLANT. 2. THE RESPONDENT.