The Dy.CIT, Central Circle-2(1), Ahmedabad V. M/s. Zydus Lifesciences Limited (Formerly known as M/s. Cadila Healthcare Ltd.), Ahmedabad

ITA 530/AHD/2023

• Counselvise Citation: [2023] 100 COUNSELVISE.COM (IT) 6793 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-10-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 04-10-2023
• Assessment Year: 2010-2011
• Appeal Filed On: 27-06-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./ I. T. A. No . 530/Ahd/20 23 ( नधा रण वष / A ss es sment Year : 2010-11) T h e D C I T C e n tr a l C ir cle -2 (1 ) , A h me da ba d बनाम/ Vs . M/ s. Zy du s L if e sc ie n c e L t d. (F or me r l y k no w n as M /s . C a dil a He al th c a r e Ltd .) Z yd u s T o we r , Op p. I s kc o n Te m pl e, S at e ll ite C r os s R o ad s , A h m e d a ba d थायी लेखा सं./जीआइआर सं./P A N / G I R N o . : A A A C C 6 2 5 3 G (अपीलाथ /Appellant) . . ( यथ / Respondent) अपीलाथ ओर से /Appellant by : Shri Ashok Kumar Suthar, Sr. DR यथ क ओर से/Respondent by : Shri Jigar Patel, A.R. स ु नवाई क तार ख / D a t e o f H e a r i ng 05/10/2023 घोषणा क तार ख /D a t e o f P ro n o u nc e me n t 06/10/2023 O R D E R PER Ms. MADHUMITA ROY - JM: Th e instant appeal filed at the behest of the Rev enue is directed against th e order d ated 10. 04. 2023 passed by th e Ld. Co mmis sion er o f Inco me Tax (Appeals)-1 2, Ah meda bad (in sho rt ITA No. 530/Ahd/2023 (DCIT vs. M/s. Zydus Lifesciences Ltd.) A.Y.– 2010-11 - 2 - ‘CIT(A)’) arisin g out of th e order dated 06. 02. 2015 pas sed by the DCIT, Circle-1(1)(2), Ah medab ad und er S ection 1 43(3) r. w. s. 144C(13) of th e In co me Tax Act, 196 1, (h ereinafter r efe rred to a s ‘the Act’) for As sess ment Year 2010-11. 2. At the ti me o f h earing o f the in stant ap peal, Ld. Counsel appearing for the asses see sub mitte d b efore us that t he tax effect of the matter is Rs. 47, 17, 930 /- and therefore, the app eal filed by th e Rev enue is hit by recently issu ed CBDT Circu lar No . 17 o f 2019 dated 08/08/201 9 revising the prev ious thresholds pertaining to tax effects. As per a fo resaid Cir cular, all pending appeals filed by Revenue are liable to be dis mi s sed as a measure fo r redu cing litigation where th e tax effect do es not ex ceed the prescribed monetary li mit w hich is now revised at Rs. 50 Lakhs. In the in stant case, the tax effect on the disp uted issues r aised by the Revenu e is stated to be n ot exceeding Rs. 50 lakhs and th erefore appeal of the Reven ue is required to be dis mis sed in limin e. 3. Th e Learned DR for the Reve nue fairly ad mit ted the applicability of the CBDT Circular No. 17 of 2019. Accordingly, appeal of the Rev enu e is dis mi ssed as not maintainable. However, ITA No. 530/Ahd/2023 (DCIT vs. M/s. Zydus Lifesciences Ltd.) A.Y.– 2010-11 - 3 - it will be open to th e Revenue to seek restoratio n of its appeal on sho wing in applicability o f th e afo resaid CBDT Circular in any man ner. 4. In th e result, the appeal of the Rev enu e is dismi ss ed. This Order pronounced on 06/10/2023 Sd/- Sd/- (WASEEM AHMED) (MADHUMITA ROY) ACCOUNTANT MEMBER JUDICIAL MEMBER Ahmedabad; Dated 06/10/2023 S. K. SINHA True Copy आदेश क त ल प अ े षत/Copy of the Order forwarded to : 1. अपीलाथ / The Appellant 2. यथ / The Respondent. 3. संबं%धत आयकर आय ु 'त / Concerned CIT 4. आयकर आय ु 'त(अपील) / The CIT(A)- 5. *वभागीय -त-न%ध, आयकर अपील य अ%धकरण, अहमदाबाद / DR, ITAT, Ahmedabad 6. गाड3 फाईल / Guard file. आदेशान ु सार/ BY ORDER, उप/सहायक पंजीकार (Dy./Asstt. Registrar) आयकर अपील$य अ%धकरण, अहमदाबाद / ITAT, Ahmedabad