The ACIT, Central Circle-1(2), Ahmedabad V. Shri Jignesh K.Thakkar, Ahmedabad

ITSSA 128/AHD/2012

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 4054 (ITAT-AHMEDABAD)
• Duration Of Justice: 6 year(s) 11 month(s) 12 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 07-02-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 14-06-2017
• Assessment Year: 2008-2009
• Appeal Filed On: 24-02-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: APARNA A GARWAL
• Assessee Lawyers: CHHAJAD
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

, B IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, AHMEDABAD BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER IT(SS)A. NO. 128/AHD/2012 ( ASSESSMENT YEAR : 2008-09) THE ACIT, CENTRAL CIRCLE-1(2) , ROOM NO. 305, 3 RD FLOOR, AAYKAR BHAVAN, ASHRAM ROAD, AHMEDABAD. / VS. SHRI JIGNESH K. THAKKAR 5, SURAMAYA BUNGLOWS, SCIENCE CITY ROAD, SOLA, AHMEDABAD-380 063 / / PAN/GIR NO. : ADHPT3064D ( APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SMT. APARNA AGARWAL, CIT DR. / RESPONDENT BY : SHRI M. S. CHHAJAD, AR DATE OF HEARING 20/11/2018 !'# / DATE OF PRONOUNCEMENT 07/02/2019 / O R D E R PER PRADIP KUMAR KEDIA- AM: THE CAPTIONED APPEAL HAS BEEN FILED AT THE INSTANCE OF THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF IN COME TAX (APPEALS)-I, AHMEDABAD (CIT(A) IN SHORT), DATED 2 0.12.2011 ARISING IN THE ASSESSMENT ORDER DATED 29.12.2010 PA SSED BY THE IT(SS)A NO.128/AHD/12 [ACIT VS. SHRI JIGNESH K. THAKKAR] A.Y. 2008-09 - 2 ASSESSING OFFICER (AO) UNDER S. 143(3) R.W.S. 153A( 1)(B) OF THE INCOME TAX ACT, 1961 (THE ACT) IN THE ASSESSMENT YE AR 2008-09. 2. THE GROUND OF APPEAL RAISED BY THE REVENUE READ S AS UNDER:- 1. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS I N DELETING THE ADDITION ON ACCOUNT OF UNACCOUNTED INTEREST INCOME OF RS. 40,14 ,275/- 3. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD.AR FOR THE ASSESSEE THAT APPEAL FILED BY THE REVENUE IS HI T BY RECENTLY ISSUED CBDT CIRCULAR NO.3 OF 2018 DATED 11/07/2018 REVISING THE PREVIOUS THRESHOLDS PERTAINING TO TAX EFFECTS. AS PER AFORESAID CIRCULAR, ALL PENDING APPEALS FILED BY REVENUE ARE LIABLE TO BE DISMISSED AS A MEASURE FOR REDUCING LITIGATION WHER E THE TAX EFFECT DOES NOT EXCEED THE PRESCRIBED MONETARY LIMIT WHICH IS NOW REVISED AT RS.20 LAKHS. IN THE INSTANT CASE, THE T AX EFFECT ON THE DISPUTED ISSUES RAISED BY THE REVENUE IS STATED TO BE NOT EXCEEDING RS.20 LAKHS AND THEREFORE APPEAL OF THE R EVENUE IS REQUIRED TO BE DISMISSED IN LIMINE . 4. THE LEARNED DR FOR THE REVENUE FAIRLY ADMITTED T HE APPLICABILITY OF THE CBDT CIRCULAR NO. 3 OF 2018. A CCORDINGLY, APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINA BLE. HOWEVER, IT(SS)A NO.128/AHD/12 [ACIT VS. SHRI JIGNESH K. THAKKAR] A.Y. 2008-09 - 3 IT WILL BE OPEN TO THE REVENUE TO SEEK RESTORATION OF ITS APPEAL ON SHOWING INAPPLICABILITY OF THE AFORESAID CBDT CIRCU LAR IN ANY MANNER. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. SD/- SD/- (MAHAVIR PRASAD) (PRADIP KUMAR K EDIA) JUDICIAL MEMBER ACCOUNTANT MEMBER TRUE COPY AHMEDABAD: DATED 07/02/2019 TANMAY !'#' / COPY OF ORDER FORWARDED TO:- & / REVENUE 2 / ASSESSEE ( ) *+ , / CONCERNED CIT 4 ,- / CIT (A) / 012 33*+4 *+#4 56) / DR, ITAT, AHMEDABAD 7 289 : / GUARD FILE. BY ORDER / 4 / 5 *+#4 56) THIS ORDER PRONOUNCED IN OPEN COURT ON 07/02/201 9