The ACIT,(OSD)Ward-5(2), Ahmedabad V. Prathana Construction Pvt.Ltd., Ahmedabad

ITA 968/AHD/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 9472 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 9 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 11-02-2016
• Assessment Year: 1997-1998
• Appeal Filed On: 03-05-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: J P JANGID
• Keywords: Tax effect

Judgement Text

I.T.A. NO . 968/AHD/2012 ASSESSMENT YEAR: 1997 - 98 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD B BENCH, AHMEDABAD [CORAM : PRAMOD KUMAR AM AND KUL BHARAT JM ] I.T.A. NO. 968 /AHD/ 20 1 2 ASSESSMENT YEAR : 1997 - 98 ASSTT. COMMISSIONER OF INCOME - TAX ( OSD ), .. .APPELLANT WARD 5(2), A HMEDABA D . VS. PRARTHANA CONSTRUCTION PVT. LTD., .. . RESPONDENT SANIDH Y A - A, ANAND NAGAR BUS STOP, NR. SHIVARANJINI CROSS ROAD, PRAHLAD NAGAR ROAD, AHMEDABAD. [PAN: AA DCP 3934 A ] APPEARANCES BY: J.P. JANGID , FOR THE APPELLANT WRITTEN SUBMISSION , FOR THE RESPONDENT D ATE OF CONCLUDING THE HEARING : FEBRUARY 11 TH , 201 6 DATE OF PRONOUNCING THE ORDER : FEBRUARY 15 TH , 201 6 O R D E R PER PRAMOD KUMAR AM : 1. BY WAY OF THIS APPEAL, THE ASSESSING OFFICER HAS CHALLENGED CORRECTNESS OF THE O RDER DATED 2 1 ST FEBRUARY, 2012, PASSED BY THE LD. CIT(A), FOR THE ASSESSMENT YEAR 1997 - 98 , ON THE FOLLOWING GROUNDS : - 1 A) THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN D ELETING THE ADDITION OF RS.21,32,600/ - , BEING ADDITION MADE ON ACCOUNT OF ESTIMATI NG THE PROFIT @ 15% OF EXPENDITURE ON CONSTRUCTION OF RS.1,48,84,000/ - . B) THE LD. CIT(A) OUGHT TO HAVE ADOPTED THE PROFIT @ 12.5%, AS CONFIRMED BY THE HON BLE ITAT IN ITS ORDER DATED 07.01.2011 IN ITA NO.1115/AHD/2003. 2 . ON THE FACTS AND CIRCUMSTA NCES OF THE CASE, THE LD. COMMISSIONER OF INCOME TAX (A) OUGHT TO HAVE UPHELD THE ORDER OF THE ASSESSING OFFICER. I.T.A. NO . 968/AHD/2012 ASSESSMENT YEAR: 1997 - 98 PAGE 2 OF 2 3 . IT IS , THEREFORE, PRAYED THAT THE ORDER OF THE LD. COMMISSIONER OF INCOME - TAX (A) MAY BE SET - ASIDE AND THAT OF THE ASSESSING OFFICER BE RESTORED. 2. WE HAVE NOTICED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS LESS THAN RS.10,00,000/ - . IN VIEW OF THIS UNDISPUTED FACT AND IN THE LIGHT OF CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE ARE OF THE CONSIDERED VIEW THAT THIS APPEAL IS LIABLE TO BE DISMISSED AS WITHDRAWN FOR THE SIMPLE REASON THAT TAX EFFECT INVOLVED IN THE APPEAL IS LESS THAN RS.10,00,000/ - . 3 . IN THE RESULT, THE APPEAL IS DISMISSED. P RONOUNCED IN THE OPEN COURT ON THIS 15 TH DAY OF FEBRUARY, 2016 . S D/ - SD/ - KUL BHARAT PRAMOD KUMAR (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) PBN/* DATED: THE 15 TH DAY OF FEBRUARY , 201 6 . COPIES TO : (1) THE APPELLANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD