The DCIT, Circle-1, Ahmedabad V. Shri Mehul Pratap Asnani, Ahmedabad

ITA 924/AHD/2014

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 6328 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 9 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-01-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2006-2007
• Appeal Filed On: 01-04-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR JAYANT ZAVERI
• Assessee Lawyers: P M MEHTA WITHG M THAKORA R
• Keywords: Deemed dividend

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH (BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER & SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER) ITA. NO: 924/AHD/2014 (ASSESSMENT YEAR: 2006-07) THE DCIT, CIRCLE-1, AHMEDABAD V/S SHRI MEHUL PRATAP ASNANI, 4, GARDEN ENCLAVE, OPP. LAW GARDEN, ELLISBRIDGE, AHMEDABAD (APPELLANT) (RESPONDENT) PAN: ACMPA6996R APPELLANT BY : DR. JAYANT ZAVERI, SR. D.R . RESPONDENT BY: SHRI P.M.MEHTA WITHG.M. THAKOR,A.R ( )/ ORDER DATE OF HEARING : 01 -01-201 8 DATE OF PRONOUNCEMENT : 03 -01-2018 PER N.K. BILLAIYA, ACCOUNTANT MEMBER: 1. WITH THIS APPEAL, THE REVENUE HAS CHALLENGED THE CO RRECTNESS OF THE ORDER OF LD. CIT(A)-VI, AHMEDABAD DATED 09.01.2014 PERTAININ G TO A.Y. 2006-07. ITA NO. 924/ AHD/2014 . A.Y. 2006-07 2 2. THE ONLY GRIEVANCE OF THE REVENUE RELATES TO THE DE LETION OF THE ADDITION OF DEEMED DIVIDEND U/S. 2(22)(E) OF THE ACT AMOUNTING TO RS. 13.16 LACS. 3. THE GRIEVANCE OF THE REVENUE SHOWS THAT THE TAX EFF ECT ON THE DELETION OF THE DISPUTED ADDITION COMES TO LESS THAN RS. 10 LACS AN D THEREFORE, THIS APPEAL OF THE REVENUE HAS TO BE DISMISSED AS NOT MAINTAINABLE IN THE LIGHT OF THE CBDT CIRCULAR NO. 21 OF 2015 DATED 10.12.2015. 4. IN THE LIGHT OF THE AFOREMENTIONED CIRCULAR, THE AP PEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 03- 01- 20 18 SD/- SD/- (RAJPAL YADAV) (N. K. BILLAIYA) JUDICIAL MEMBER TRUE COPY ACCOUNTANT MEMBER AHMEDABAD: DATED 03 /01/2018 RAJESH COPY OF THE ORDER FORWARDED TO: - 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT (APPEALS) 4. THE CIT CONCERNED. 5. THE DR., ITAT, AHMEDABAD. 6. GUARD FILE. BY ORDER DEPUTY/ASSTT.REGISTRAR ITAT,AHME DABAD