The ITO, Ward-3(1), JAMNAGAR V. Balaji International, JAMNAGAR

ITA 510/RJT/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 2415 (ITAT-RAJKOT)
• Duration Of Justice: 2 year(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 06-01-2016
• Assessment Year: 2006-2007
• Appeal Filed On: 12-12-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: C S ANJARIA
• Assessee Lawyers: SUBHASH BORDIA
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH , RAJKOT BEFORE: S H RI S. S. GODARA , JUDICIAL MEMBER AND SHR I MANISH BORAD , ACCOUNTANT MEMBER [CONDUCTED THRO UGH E - COURT AT AHMEDABAD] INCOME TAX OFFICER , WARD - 3(1), JAMNAGAR (APPELLANT) VS BALAJI INTERNATIONAL , PLOT NO. 776, GIDC PHASE - 2, DARED, JAMNAGAR PAN: AAFEB9784E (RESPONDENT) REVENUE BY : S H RI C.S. ANJARIA, D . R. ASSESSEE BY: S H RI SUBHASH BORDIA , A.R. DATE OF HEARING : 06 - 01 - 2 016 DATE OF PRONOUNCEMENT : 07 - 01 - 2 016 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 200 6 - 07 , AR ISES FROM ORDER OF THE CIT(A), JAMNAGAR DATED 20 - 09 - 2013 IN APPEAL NO. CIT(A) - JAM/46/12 - 13/496 , IN PROCEEDINGS UNDER SECTION 271(1)(C) OF THE INCOME TAX ACT, 196 1; IN SHORT THE ACT . I T A NO . 510 / RJT /20 13 A SSESSMENT YEAR 200 6 - 07 I.T.A NO. 510/RJT/2013 A.Y. 2006 - 07 PAGE NO ITO VS. BALAJI INTERNATIONAL 2 2. THE REVENUE S SOLE SUBSTANTIVE GROUND CHALLENGES THE LOWER AP PELLATE ORDER DELETING SECTION 271(1)(C) PENALTY OF RS. 5,64,530/ - IMPOSED BY THE ASSESSING OFFICER IN HIS ORDER DATED 14 - 03 - 2012. THERE IS NO DISPUTE THAT THE NET TA X 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. 2 1/2015 DATED 10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRI BUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE ST ATED CIRCULAR . THE SAME HAS BEEN DECLARED TO BE HAVING RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION THE ABOVE STATED BOARD S CIRCULAR AND DISMISS THE INSTANT APPEAL A CCORDINGLY. 3. THIS REVENUE S APPEAL IS DISMISSED AS HAVING LOW TAX EFFECT. ORDER PR ONOUNCED IN THE OPEN C OURT ON 07 - 01 - 201 6 SD/ - SD/ - ( MANISH BORAD ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBE R AHMEDABAD : DATED 07 /01/2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. I.T.A NO. 510/RJT/2013 A.Y. 2006 - 07 PAGE NO ITO VS. BALAJI INTERNATIONAL 3 BY ORDER , ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL , RAJKOT