The ACIT, Central Circle-2(4), Ahmedabad V. Smt. Kasturidevi G.Shekhani, Ahmedabad

ITSSA 502/AHD/2012

• Counselvise Citation: [2016] 122 COUNSELVISE.COM (IT) 1587 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 4 month(s) 7 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 18-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 15-02-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 11-10-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIBHA BHALLA
• Keywords: Retrospective amendment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH BEFORE: S H RI N.K. BILLAIYA , ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER THE ACIT, CENTRAL CIRCLE - 2(4), AHMEDABAD (APPELLANT) VS SMT. KASTURIDEVI G. SHEKHANI, AHMEDABAD - 380002 PAN: ACSPS5962K (RESPONDENT) REVENUE BY : S MT. VIBHA BHALLA, CIT - D . R. ASSES SEE BY: S H RI TUSHAR HEMANI , A.R. DATE OF HEARING : 15 - 02 - 2 016 DATE OF PRONOUNCEMENT : 18 - 02 - 2 016 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 2010 - 11 , AR ISES FROM ORDER OF THE CIT(A) - III, AHMEDABAD DATED 16 - 07 - 2012 IN APPEAL NO. CIT(A) - III/381 & 382/AC - CC - 2(4)/11 - 12 , IN PROCEEDINGS UNDER SECTION 143(3) R.W.S. 153B(1)(B) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T (SS) A NO . 502 / A HD/20 12 A SSESSMENT YEAR 2010 - 11 I.T(SS)A NO. 502 /AHD/20 12 A.Y. 2010 - 111 PAGE NO ACIT VS. SMT. KASTURIDEVI G. SHEKHANI 2 2. THE REVENUE S SOLE SUBSTANTIVE GROUND CHALLENGES THE LOWER APPELLATE ORDER RESTRICTING ADDITION OF RS. 15,04,875/ - , MADE ON ACCOUNT U NEXPLAINED INVESTMENT IN JEWELLE RY TO RS. 27,201/ - ONLY. THERE IS NO DISPUTE THAT THE NET TAX EFFECT IN THE 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. 21/2015 DATED 10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESS ED AS PER THE ABOVE STATED CIRCULAR.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 DISMIS SED AS HAVING LOW TAX EFFECT. ORDER PR ONOUNCED IN THE OPEN C OURT ON 18 - 02 - 201 6 SD/ - SD/ - ( N.K. BILLAIYA ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 18 /02 /2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. I.T(SS)A NO. 502 /AHD/20 12 A.Y. 2010 - 111 PAGE NO ACIT VS. SMT. KASTURIDEVI G. SHEKHANI 3 BY ORDER/ , / ,