Smt. Vaishali Prashant Khedkar, Nashik V. ITO, Ward 1(3), Nashik

ITA 972/PUN/2013

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 9413 (ITAT-PUNE)
• Duration Of Justice: 4 year(s) 1 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-06-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 23-12-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 03-05-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S K JADHAV
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, PUNE . , , , BEFORE SHRI D. KARUNAKARA RAO , AM AND SHRI VIKAS AWASTHY, JM . / I TA NO. 972 /PUN/20 13 / ASSESSMENT YEAR : 2009 - 10 VAISHALI PRASHANT KHEDKAR RADHANATH KRUPA, VRUNDAVAN COLONY VAIDYA NAGAR, DWARKA, NASHIK - 422 011. PAN : AGCPK5344B .... / APPELLANT / V/S. INCOME TAX OFFICER, WARD - 1(3) NASHIK. / RESPONDENT . / ITA NO. 1266/PUN/2013 / ASSESSMENT YEAR : 2009 - 10 / ASSESSMENT YEAR : 2009 - 10 INCOME TAX OFFICER, WARD - 1(3) NASHIK. .... / APPELLANT / V/S. VAISHALI PRASHANT KHEDKAR RADHANATH KRUPA, VRUNDAVAN COLONY VAIDYA NAGAR, DWARKA, NASHIK - 422 011 PAN : AGCPK5344B / RESPONDENT A SSESSEE BY : SHRI NIKHI L PATHAK REVENUE BY : SHRI S.K JADHAV / DATE OF HEARING : 05.06.2017 / DATE OF PRONOUNCEMENT : 05.06.2017 2 ITA NO. 972 /PUN/2013 & ITA NO. 1266/PUN/2013 / ORDER PER BENCH THESE CROSS APPEALS FILED BY THE ASSESSEE AND DEPARTMENT ARE DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) - 1, NASHIK DATED 08.03.2013 FOR THE ASSESSMENT YEAR 2009 - 10. 2. SHRI NIKHIL PATHAK APPEARING ON BEHALF OF THE ASSESSEE STATED AT THE BAR THAT THE ASSESSEE IS NOT WILLING TO PROCEED WITH THE APPEAL, T HEREFORE, THE ASSESSEE MAY BE PERMITTED TO WITHDRAW THE APPEAL. IN RESPECT OF THE APPEAL FILED BY THE DEPARTMENT, LD. AR S UBMITTED THAT TAX EFFECT IN THE APPEAL BY DEPARTMENT IS LESS THA N RS. 10 LAKHS. IN THE LIGHT OF CBDT CIRCULAR NO. 21/2015 DATED 10.12.2015, APPEAL OF THE DEPARTMENT IS LIABLE TO BE DISMISSED. 3. SHRI S.K JADHAV REPRESENTING THE DEPARTMENT FAIRLY ADMITTED THAT IN APPEAL THE DEPARTMENT HAS ASSAILED THE FINDINGS OF THE COMMISSIONER IN APPEAL THE DEPARTMENT HAS ASSAILED THE FINDINGS OF THE COMMISSIONER OF INCOME TAX (APPEALS) IN DELETING THE ADDITION OF RS. 24,02,000/ - . AS FAR AS APPEAL BY THE ASSESSEE IS CONCERNED, THE REVENUE HAS NO OBJECTION IF THE ASSESSEE WANTS TO WITHDRAW APPEAL. 4. WE HAVE HEARD THE SUBMISSION MADE BY REPRESENTATIVES OF THE RIVALS SIDE AND HAVE PERUSED THE ORDERS OF AUTHORITIES BELOW. IN VIEW OF THE STATEMENT MADE BY THE LD. AR FOR THE ASSESSEE , T O WITHDRAW THE APPEAL, THE APPEAL OF THE ASSESSEE IN ITA NO. 972/PUN/2013 IS DISMISSED AS WITHDRAWN. 5. THE DEPARTMENT IN APPEAL HAS ASSAILED THE FINDINGS OF COMMISSIONER OF INCOME TAX (APPEALS) IN DELETING ADDITIONS: 1. UNEXPLAINED UNSECURED LOAN RS.4,00,000/ - 2. UNEXPLAINED ADVANCE RS.20,02,000/ - TOTAL RS. 24,02,000/ - 3 ITA NO. 972 /PUN/2013 & ITA NO. 1266/PUN/2013 UNDISPUTEDLY, THE TAX EFFECT IN PRESENT APPEAL BY THE REVENUE IS LESS THAN RS. 10 LAKHS. THE CBDT CIRCULAR NO.21/2015 DATED 10.12.2015 HAS RAISED THE MONETARY LIMIT OF TAX EFFECT FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL TO RS. 10 LAKHS. THE CIRCULAR APPLIES TO THE APPEALS TO BE FILE D BY THE DEPARTMENT IN FUTURE, AS WELL AS THE APPEALS PENDING BEFORE THE TRIBUNAL. THUS, IN VIEW OF THE CBDT CIRCULAR THE PRESENT APPEAL OF THE REVENUE IS LIABLE TO BE DISMISSED ON ACCOUNT OF LOW TAX EFFECT. 6 . IN THE RESULT, BOTH THE APPEALS ARE DISMISSED. ORDER PRONOUNCED IN OPEN COURT AFTER HEARING OF THE APPEALS ON MONDAY , 5 TH JUNE, 201 7 . S D / - S D / - ( . / D. KARUNAKARA RAO ) ( /VIKAS AWASTHY) / ACCOUNTANT MEMBER / JUDICIAL MEMBER / PUNE; / DATED : 05 TH JUNE , 2017 . / PUNE; / DATED : 05 TH JUNE , 2017 . SB / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE CIT(APPEALS) - 1, NASHIK. 4. THE CIT - 1, NASHIK. 5 . , , , / DR, ITAT, B BENCH, PUNE. 6 . / GUARD FILE. / / T R U E C O P Y / / / BY ORDER, /ASSISTANT REGISTRAR , / ITAT, PUNE 4 ITA NO. 972 /PUN/2013 & ITA NO. 1266/PUN/2013