ITO-Ward-1(2)(2), Ahmedabad V. M/s. Kad Udyog, Ahmedabad

ITA 670/AHD/2016

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 5869 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-03-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2010-2011
• Appeal Filed On: 16-03-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: S V AGRAWAL
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD SMC BENCH BEFORE: SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER THE IT O , WD.1(2)(2) , AHMEDABAD (APPELLANT) VS M/S. KAD UDYOG , K.L. CHAMBE R S, MOTA WAGHJIPURA, OPP . DARIYAPUR TOWER, AHMEDABAD - 380 001 PAN: AAGFK1588D (RESPONDENT) REVENUE BY : S H RI MUDIT NAGPA L , SR. D . R. ASSESSEE BY: SHRI S.V. AGRAWAL & SHRI DIVY A S. AGRAWAL DATE OF HEARING : 12 - 03 - 2 018 DATE OF PRONOUNCEMENT : 23 - 03 - 2 018 / ORDER P ER : AMARJIT SINGH, ACCOUNTANT MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 2010 - 11 , AR ISES FROM ORDER OF THE CIT(A) - 10 , AHMEDABAD DATED 12 - 01 - 2016 , IN PROCEEDINGS UNDER SECTION 143(3) R.W.S. 147 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT 2. THE REVEN UE S SOLE SUBSTANTIVE GROUND CHALLENGE S THE LOWER AP PELLATE ORDER DELETING THE ADDITION MADE ON ACCOUNT OF INVOCATION OF THE PROVISIONS OF SECTION 2(22)(E) OF RS. 16,46,355/ - . THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN THE INSTANT APP EAL 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 I T A NO . 670 / A H D/20 16 A SSESSMENT YEAR 2010 - 11 I.T.A NO. 670/AHD/2016 A.Y. 2010 - 11 PAGE NO ITO VS. M/S. KAD UDY OG 2 TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE ST ATED CIRCULAR .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 ACCORDINGLY. 3. THIS REVENU E S APPEAL IS DISMISSED AS HAVING LOW TAX EFFECT. ORDER PR ONOUNCED IN THE OPEN C OURT ON 23 - 03 - 201 8 SD/ - SD/ - ( RAJPAL YADAV ) ( AMARJIT SINGH ) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD : DATED 23 /03/2018 / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,