The DCIT, Circle-4(1)(2), Ahmedabad V. M/s. The Screndipity Apparels Pvt. Ltd., Ahmedabad

ITA 530/AHD/2017

• Counselvise Citation: [2018] 118 COUNSELVISE.COM (IT) 9881 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 9 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-12-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2013-2014
• Appeal Filed On: 02-03-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: LALIT P JAIN
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

, D IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, AHMEDABAD BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SMT. MADHUMITA ROY, JUDICIAL MEMEBR ./ I.T.A. NO. 530/AHD/2017 ( ASSESSMENT YEAR : 2013-14) D.C.I.T. CIRCLE- 4(1)(2), AHMEDABAD / VS. M/S. THE SERENDIPITY APPARELS PVT. LTD. ARVIND MILLS PREMISES, NARODA ROAD, AHMEDABAD - 380009 ./ ./ PAN/GIR NO. : AAACT7017K ( APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI LALIT P. JAIN, SR. D.R. / RESPONDENT BY : SHRI BANDISH SOPARKAR, A.R. DATE OF HEARING 14/11/2018 !'# / DATE OF PRONOUNCEMENT 03/12/2018 / O R D E R PER PRADIP KUMAR KEDIA - AM: THE CAPTIONED APPEAL HAS BEEN FILED AT THE INSTANCE OF THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF IN COME TAX (APPEALS)-8, AHMEDABAD (CIT(A) IN SHORT), DATED 2 0.12.2016 ARISING IN THE ASSESSMENT ORDER DATED 18.12.2015 PA SSED BY THE ITA NO.530/AHD/17 [DCIT VS. M/S. THE SERENDIPITY APPARELS PVT. LTD.] A.Y. 2013-14 - 2 - ASSESSING OFFICER (AO) UNDER S. 143(3) OF THE INCOM E TAX ACT, 1961 (THE ACT) CONCERNING ASSESSMENT YEAR 2013-14. 2. THE GROUNDS OF APPEAL RAISED BY THE REVENUE REA DS AS UNDER:- 1. WHETHER THE LD. CIT(APPEAL) IS RIGHT IN LAW A ND ON FACTS IN DELETING THE DISALLOWANCE OF RS.40,44,448/- MADE ON ACCOUNT OF D EPRECIATION ON LEASED ASSETS. 3. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD.AR FOR THE ASSESSEE THAT THE APPEAL FILED BY THE REVENUE I S HIT BY RECENTLY ISSUED CBDT CIRCULAR NO.3 OF 2018 DATED 11/07/2018 REVISING THE PREVIOUS THRESHOLDS PERTAINING TO TAX EFFECTS. AS PER AFORESAID CIRCULAR, ALL PENDING APPEALS FILED BY REVENUE ARE LIABLE TO BE DISMISSED AS A MEASURE FOR REDUCING LITIGATION WHER E THE TAX EFFECT DOES NOT EXCEED THE PRESCRIBED MONETARY LIMIT WHICH IS NOW REVISED AT RS.20 LAKHS. IN THE INSTANT CASE, THE T AX EFFECT ON THE DISPUTED ISSUES RAISED BY THE REVENUE IS STATED TO BE NOT EXCEEDING RS.20 LAKHS AND THEREFORE APPEAL OF THE R EVENUE IS REQUIRED TO BE DISMISSED IN LIMINE. 4. THE LEARNED DR FOR THE REVENUE FAIRLY ADMITTED T HE APPLICABILITY OF THE CBDT CIRCULAR NO. 3 OF 2018. A CCORDINGLY, APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINA BLE. HOWEVER, ITA NO.530/AHD/17 [DCIT VS. M/S. THE SERENDIPITY APPARELS PVT. LTD.] A.Y. 2013-14 - 3 - IT WILL BE OPEN TO THE REVENUE TO SEEK RESTORATION OF ITS APPEAL ON SHOWING INAPPLICABILITY OF THE AFORESAID CBDT CIRCU LAR IN ANY MANNER. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. SD/- SD/- (MADHUMITA ROY) (PRADIP KUMAR KEDIA) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD: DATED 03/12/2018 TRUE COPY S. K. SINHA !'#' / COPY OF ORDER FORWARDED TO:- &. / REVENUE 2. / ASSESSEE (. )*+ , / CONCERNED CIT 4. ,- / CIT (A) /. 012 33*+4 *+#4 56) / DR, ITAT, AHMEDABAD 7. 289 : / GUARD FILE. BY ORDER / 4 /5 *+#4 56) THIS ORDER PRONOUNCED IN OPEN COURT ON 03/12/20 18