The ACIT, Central Circle 1(4), Ahmedabad V. M/s. Patel Arvindbhai Kantilal & Co., Ahmedabad

ITSSA 250/AHD/2013

• Counselvise Citation: [2016] 122 COUNSELVISE.COM (IT) 2105 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 11 month(s) 28 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 30-06-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2011-2012
• Appeal Filed On: 02-07-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH BEFORE: SHR I S. S. GODARA , JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER THE A CIT, CENTRAL CIR. 1( 4 ) , ROOM NO. 337, 3 RD FLOOR , AAYKAR BHAVAN, ASHRAM ROAD , AHMEDABAD (APPELLANT) VS M/S. PATEL ARVINDBHAI KANTILAL & CO. 17, RATAN CHAMBERS, SHETH NI POLE, RATANPOLE, AHMEDABAD PAN: AACFP7724Q (RESPON DENT) REVENUE BY : S H RI K. MADHUSUDAN, SR. D . R. ASSESSEE BY: S MT. URVASHI SHODHAN , A.R. DATE OF HEARING : 24 - 06 - 2 016 DATE OF PRONOUNCEMENT : 30 - 06 - 2 016 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 2011 - 12 , AR ISES FROM ORDER OF THE CIT(A) - I , AHMEDABAD DATED 22 - 04 - 2013 IN APPEAL NO. CIT(A) - I/CC - 1(4)/146/2012 - 13 , IN PROCEEDINGS UNDER SECTION 143(3) R.W.S. 153B OF THE I NCOME TAX ACT, 1961; IN SHORT THE ACT . I T (SS) A NO . 250 / A HD/20 13 A SS ESSMENT YEAR 2011 - 12 I.T. (SS) A NO. 250/AHD/2013 A.Y. 2011 - 12 PAGE NO ACIT VS. M/S. PATEL ARVINDBHAI KANTILAL & CO. 2 2. THE REVENUE S SOLE SUBSTANTIVE GROUND CHALLENGES THE LOWER APPELLATE ORDER DELETING THE ADDITION OF RS. 14,00,000/ - M ADE IN ASSESSMENT ORDER DATED 31 - 12 - 2012 . THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN TH E INSTANT APPEAL IS LESS THAN RS. 10 LACS. WE FIND THAT THE CENTRAL BOARD OF DIRECT TAXES; HEREAFTER THE BOARD HAS ISSUED THE CIRCULAR NO. 2 1/2015 DATED 10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COU RTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE ST ATED CIRCULAR . THE SAME HAS BEEN DECLARED TO BE HAVING RETROSPECTIVE EFFECT IN OTHER WORDS. WE TAKE INTO CONSIDERATION THE ABOVE STATED BOARD S CIRCULAR AND DISMISS THE INSTANT APPEAL ACCORDINGLY. 3 . THIS REVENUE S APPEAL IS DISMISSED AS HAVING LOW TAX EFFECT. ORDER PR ONOUNCED IN THE OPEN C OURT ON 30 - 06 - 201 6 SD/ - SD/ - ( MANISH BORAD ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DA TED 30 /06 /2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , I.T. (SS) A NO. 250/AHD/2013 A.Y. 2011 - 12 PAGE NO ACIT VS. M/S. PATEL ARVINDBHAI KANTILAL & CO. 3 / ,