The ITO, Ward-6(4)., Ahmedabad V. M/s. Pressure Jet Systems, Ahmedabad

ITA 823/AHD/2013

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 9982 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 7 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-11-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 16-11-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 21-03-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SEETA RAM MEENA
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH AHMEDABAD BEFORE SHRI N. K. BILLAIYA, ACCOUNTANT MEMBER, AND SHRI S. S. GODARA, JUDICIAL MEMBER. ITA NOS. 823/AHD/2013 (ASSESSMENT YEAR:2007-08) ITO, WARD-6(4), AHMEDABAD APPELLANT VS. M/S. PRESSURE JET SYSTEMS, PLOT NO.62/13, PHASE-I, NR. PATELS AIRTEMP, GIDC ESTATE, VATVA, AHMEDABAD-382445 RESPONDENT PAN: AAEFP7210K /BY REVENUE : SHRI SEETA RAM MEENA, SR. D.R. / BY ASSESSEE : URVASHI SHODHAN, A.R. /DATE OF HEARING : 16.11.2016 /DATE OF PRONOUNCEMENT : 18.11.2016 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS REVENUES APPEAL FOR A.Y. 2007-08, ARISES FROM ORDER OF THE CIT(A)-XI, AHMEDABAD, DATED 08.01.2013 IN APPEAL N O. CIT(A)-XI/971/WD- 6(4)/09-10, IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. ITA NO. 823/AHD/2013 (ITO VS. M/S. PRESSURE JET SYS TEMS) A.Y. 2007-08 - 2 - 2. THE REVENUES SUBSTANTIVE GROUND PLEADED IN THE INSTANT APPEAL CHALLENGES THE CIT(A)S ORDER INTER ALIA DELETING T HE ADDITION OF RS.9,00,000/- ON ACCOUNT OF EXCESS STOCK FOUND DURING THE SURVEY PROCEEDINGS. THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN THE INSTANT APPE AL IS LESS THAN RS.10 LACS. WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES; HEREAF TER THE BOARD HAS ISSUED THE CIRCULAR NO.21/2015 DATED 10.12.2015 CLEARLY ENVISA GING THEREIN THAT DEPARTMENTS PENDING APPEALS BEFORE THE TRIBUNAL/HI GH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE STATED CIRCU LAR. THE SAME HAS BEEN DECLARED TO BE HAVING RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION THE ABOVE STATED BOARDS CIRCULAR AND DISMISS THE INSTANT APPEAL ACCORDINGLY. 3. THIS REVENUES APPEAL IS DISMISSED AS HAVING LOW TAX EFFECT. [PRONOUNCED IN THE OPEN COURT ON THIS THE 18 TH DAY OF NOVEMBER, 2016.] SD/- SD/- (N. K. BILLAIYA) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD: DATED 18/11/2016 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 / GUARD FILE. BY ORDER / . // . /0