The Assistant Commissioner of Tax, Circle-1, RAJKOT-GUJARAT V. M/s. Shree Ganesh Oil Mill, Upleta

ITA 557/RJT/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 2365 (ITAT-RAJKOT)
• Duration Of Justice: 3 year(s) 3 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 12-01-2016
• Assessment Year: 2004-2005
• Appeal Filed On: 09-10-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M J CHARANIA
• Assessee Lawyers: MJ RANPURA
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH , RAJKOT BEFORE: S H RI ANIL CHATURVEDI , ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER [CONDUCTED THROUGH E - COURT AT AHMEDABAD] ACIT, CIRCLE - 1, RAJKOT (APPELLANT) VS M/S. SHREE GANESH OIL MILL, NATIONAL HIGHWAY - 8B, DHORAJI ROAD, UPLETA, DISTT - RAJKOT PAN: AAHFS4901P (RESPONDENT) REVENUE BY : S H RI M.J. CHARANIA, D . R. ASSESSEE BY: S H RI M.J. RANPURA , A.R. DATE OF HEARING : 12 - 01 - 2 016 DATE OF PRONOUNCEMENT : 20 - 01 - 2 016 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THI S REVENUE S APPEAL FOR A.Y. 2004 - 05 , AR ISES FROM ORDER OF THE CIT(A) - II, RAJKOT DATED 12 - 07 - 2012 IN APPEAL NO. CIT(A) - II / RJT/T - I T A NO . 557 / RJT /20 12 A SSESSMENT YEAR 200 4 - 05 I.T.A NO. 557/RJT /20 12 A.Y. 2004 - 05 PAGE NO ACIT VS. M/S. S HREE GANESH OIL MILL 2 373 /09 - 10, IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961 ; IN SHORT THE ACT . 2. BOTH PARTIES INFORM US AT THE OUTSET THAT THE INSTANT APPEAL INVOLVES NE T TAX EFFECT OF LESS THAN RS. 10 LACS SINCE THE INCOME ASSESSED COMES TO RS. 24,60,000/ - . WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES; HEREAFTER THE BO ARD HAS ISSUED THE CIRCULAR NO. 21/2015 DATED 10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CIRCULAR. THE SAME HAS BEEN DECLARED TO BE HAVIN G RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION THE ABOVE STATED BOARD S CIRCULAR AND DISMISS THE INSTANT APPEAL ACCORDINGLY. 3. THIS REVENUE S APPEAL IS DISMISSED FOR LOW TAX EFFECT. ORDER PR ONOUNCED IN THE OPEN C OURT O N 20 - 01 - 201 6 SD/ - SD/ - (ANIL CHA TURVEDI ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 20 /01/2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERN ED CIT 4. CIT (A) I.T.A NO. 557/RJT /20 12 A.Y. 2004 - 05 PAGE NO ACIT VS. M/S. S HREE GANESH OIL MILL 3 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER, ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, RAJKOT