The ITO, Ward-8(4), Ahmedabad V. Vinayaka Credit & Housing Inv.Pvt.Ltd., Ahmedabad

ITA 622/AHD/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 9254 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 11 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-03-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 09-03-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 12-03-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SONIA KUMAR
• Assessee Lawyers: A L THAKKAR
• Keywords: Audit objection; Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, AHMEDABAD , , BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI KUL BHARAT, JUDICIAL MEMBER ./ I.T.A. NO.622/AHD/2012 ( / ASSESSMENT YEAR : 2008-09) THE ITO WARD-8(4) AHMEDABAD / VS. VINAYAKA CREDIT & HOLDING INVESTMENT PVT.LTD. 1-2, AKANKSHA APARTMENT NR.SOLA RAILWAY CROSSING SOLA ROAD, AHMEDABAD ' ./ ./ PAN/GIR NO. : AAACV 6287 F ( '% / APPELLANT ) .. ( &''% / RESPONDENT ) '% ( / APPELLANT BY : SMT. SONIA KUMAR, SR.DR &''% ) ( / RESPONDENT BY : SHRI A.L. THAKKAR, AR * ) / DATE OF HEARING 09/03/2016 +,-. ) / DATE OF PRONOUNCEMENT 10/03/2016 / O R D E R PER SHRI KUL BHARAT, JUDICIAL MEMBER : THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST TH E ORDER OF THE LD.COMMISSIONER OF INCOME TAX(APPEALS)-XIV, AHMEDAB AD [CIT(A) IN SHORT] DATED 16/01/2012 PERTAINING TO ASSESSMEN T YEAR (AY) 2008-09. THE REVENUE HAS RAISED THE FOLLOWING GROUNDS OF APP EAL:- ITA NO.622 /AHD /2012 ITO VS. VINAYAKA CREDIT & HOLDING INVESTMENT PVT. LTD. ASST.YEAR 2008-09 - 2 - 2. AT THE OUTSET, THE LEARNED COUNSEL FOR THE ASSE SSEE CONTENDED THAT AS PER CENTRAL BOARD OF DIRECT TAXES CIRCULAR NO. 2 1/2015 IN F.NO.279/MISC. 142/2007-ITJ (PT) DATED 10TH DECEMBE R 2015, THE REVISED LIMIT FOR PREFERRING REVENUE'S APPEALS IS R S. 10 LACS. HE SUBMITTED THAT THE TOTAL TAX LIABILITY IN THE PRESE NT REVENUE'S APPEAL IS BELOW THE PRESCRIBED LIMIT OF RS. 10 LACS. THE L D.COUNSEL FOR THE ASSESSEE, THEREFORE, PLEADED THAT IN VIEW OF THE CB DT CIRCULAR, THE REVENUE'S APPEAL MAY BE DISMISSED AS THE TAX EFFECT BEING BELOW THE PRESCRIBED LIMIT. 3. THE LD. DEPARTMENTAL REPRESENTATIVE COULD NOT CO NTROVERT THE AFORESAID SUBMISSIONS OF THE LD. COUNSEL FOR THE AS SESSEE. 4. WE HAVE HEARD BOTH THE SIDES AND PERUSED THE MAT ERIAL PLACED BEFORE US. WE FIND THAT THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE IN VIEW OF CBDT CIRCULAR NO. 21/2015 IN F.NO.279/MISC. 142/2007-ITJ (PT) DATED 10TH DECEMBER 2015, VIDE WHICH IT HAS BE EN PROVIDED THAT IF THE TAX EFFECT BY VIRTUE OF THE COMMISSIONER OF INC OME-TAX (APPEALS)S ORDER IS BELOW RS. 10 LAKHS, THEN THAT ORDER WOULD NOT BE CHALLENGED BEFORE THE TRIBUNAL IN FURTHER APPEAL. THE BOARD H AS PROVIDED EXEMPTIONS AT CLAUSE (8) OF THE INSTRUCTIONS, WHERE IN IT HAS BEEN PROVIDED THAT THESE INSTRUCTIONS WILL NOT BE APPLICABLE, IF VIRES OF ANY PROVISIONS HAS BEEN QUASHED BY IMPUGNED ORDER OR ADDITION WAS MADE ON SOME AUDIT OBJECTIONS OR THE ADDITION RELATES TO UNDISCL OSED FOREIGN ASSETS/BANK ACCOUNTS, ETC. WE FIND THAT THE PRESENT CASE DOES NOT FALL WITHIN THE ITA NO.622 /AHD /2012 ITO VS. VINAYAKA CREDIT & HOLDING INVESTMENT PVT. LTD. ASST.YEAR 2008-09 - 3 - EXEMPTION CLAUSE AND THE TAX EFFECT IS LESS THAN RS . 10 LAKHS. THEREFORE, THE PRESENT APPEAL OF THE REVENUE IS NOT MAINTAINAB LE AND, HENCE, DISMISSED. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED IN LIMINE. ORDER PRONOUNCED IN THE COURT ON THURSDAY, THE 10 TH DAY OF MARCH, 2016 AT AHMEDABAD. SD/- SD/- ( ) ( ) ( ANIL CHATURVEDI ) ( KUL BHARAT ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 10/ 03 /2016 2.., .../ T.C. NAIR, SR. PS !'#$%&' &$ / COPY OF THE ORDER FORWARDED TO : 1. '% / THE APPELLANT 2. &''% / THE RESPONDENT. 3. 345 6 / CONCERNED CIT 4. 6 ( ) / THE CIT(A)-XIV, AHMEDABAD 5. 7 8 &45 , 45. , 3 / DR, ITAT, AHMEDABAD 6. 8:; <* / GUARD FILE. ! / BY ORDER, '7 & //TRUE COPY// / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD