The ACIT, Central Circle-1(3), Ahmedabad V. M/s. Jagat Foods Pvt.Ltd., Ahmedabad

ITSSA 317/AHD/2010

• Counselvise Citation: [2016] 122 COUNSELVISE.COM (IT) 1810 (ITAT-AHMEDABAD)
• Duration Of Justice: 6 year(s) 10 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 25-04-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 25-04-2016
• Assessment Year: 2006-2007
• Appeal Filed On: 15-04-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R I PATEL
• Assessee Lawyers: M K PATEL
• Keywords: Business income; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH (BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER & SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER) IT(SS)A. NOS: 315, 317 & 318/AHD/2010 (ASSESSMENT YEARS: 2004-05, 2006-07 & 2007-08) ACIT, CENTRAL CIRCLE-1(3), AHMEDABAD V/S M/S. JAGAT FOODS PVT. LTD., 804, AVDHESH HOUSE, OPP: GURUDWARA, S.G. ROAD, THALTEJ, AHMEDABAD (APPELLANT) (RESPONDENT) PAN: AAACJ 3859M APPELLANT BY : SHRI R.I. PATEL, CIT/DR RESPONDENT BY : SHRI M.K. PATEL, A.R. ( )/ ORDER DATE OF HEARING : 25 -04-201 6 DATE OF PRONOUNCEMENT : 25 -04-2016 PER BENCH: 1. THESE THREE APPEALS BY THE REVENUE ARE DIRECTED AGA INST THREE SEPARATE ORDERS OF THE LD. CIT(A)-I, AHMEDABAD DATE D 11.02.2010 AND PERTAINING TO A.YS. 2004-05, 2006-07 & 2007-08. IT(SS)A NOS. 315, 317 & 318/AHD/10 . A.YS. 2004- 05, 2006-07 & 2007-08 2 2. IN A.Y. 2004-05, THE GRIEVANCE OF THE REVENUE RELAT ES TO THE TREATMENT OF RS. 89,588/- AS INCOME UNDER THE HEAD SHORT TERM CAPITAL GAINS AS AGAINST BUSINESS INCOME AND DELETION OF THE ADDITIO N MADE U/S. 69B OF RS. 6,79,850/-. SIMILAR GRIEVANCE IS THERE IN A.Y. 2006-07 & 2007-08 THOUGH THE QUANTUM INVOLVED ARE RS. 32,20,795 AND R S. 3,19,000/- IN 2006-07 AND RS. 24,19,778/- IN A.Y. 2007-08 RESPECT IVELY. 3. AT THE VERY OUTSET, IT HAS BEEN BROUGHT TO THE NOTI CE THAT THE TAX EFFECT INVOLVED IN THESE APPEALS BY THE REVENUE IS LESS TH AN RS. 10 LACS AND, THEREFORE, THESE APPEALS ARE NOT MAINTAINABLE. THE D.R. FAIRLY CONCEDED TO THIS. 4. WE HAVE GIVEN A THOUGHTFUL CONSIDERATION TO THE TAX EFFECT INVOLVED IN THE IMPUGNED APPEALS. THE CBDT VIDE CIRCULAR NO. 21 /2015 DATED 10.12.2015 HAS DIRECTED THAT NO APPEALS SHALL BE FI LED IN CASES WHERE THE TAX EFFECT DOES NOT EXCEED RS. 10 LACS. ALL THE SE APPEALS ARE DISMISSED IN THE LIGHT OF THE CIRCULAR OF THE CBDT. 5. NEEDLESS TO MENTION THAT IF THE REVENUE FINDS THAT THESE APPEALS BY THE REVENUE ARE NOT HIT BY THE CIRCULAR, IT MAY APPROAC H THE TRIBUNAL AS PER THE PROVISIONS OF THE LAW. 6. AS OF NOW, ALL THESE APPEALS ARE DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 25- 04 - 2016. SD/- SD/- (RAJPAL YADAV) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD: TRUE COPY