The ACIT, Central Circle-1(4), Ahmedabad V. Shri Hiten Rameshchandra Vasant, Ahmedabad

ITSSA 64/AHD/2013

• Counselvise Citation: [2016] 122 COUNSELVISE.COM (IT) 1861 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 2 month(s) 2 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 04-04-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 04-04-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 01-02-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R I PATEL
• Assessee Lawyers: MOHIT R BALANI
• 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 BORA D, ACCOUNTANT MEMBER THE A CIT, CENTRAL CIRCLE 1(4), ROOM NO. 337, 3 RD FLOOR, AAYKAR BHAVAN ASHRAM ROAD, AHMEDABAD (APPELLANT) VS SHRI HITEN RAMESHCHANDRA VASANT, 30, ASOPALAV BUNGALOWS, THALTEJ, S.G. HIGHWAY, AHMEDABAD - 380059 PAN: ABAPV3956H (RESPO NDENT) REVENUE BY : S H RI RI PATEL, CIT - D . R. ASSESSEE BY: S H RI MOHIT R. BALANI , A.R. DATE OF HEARING : 04 - 04 - 2 016 DATE OF PRONOUNCEMENT : 04 - 04 - 2 016 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 200 8 - 09 , AR ISES FROM ORDER OF THE CIT(A) - I , AHMEDABAD DATED 20 - 11 - 2012 IN APPEAL NO. CIT(A) - I/CC - 1(4)/224/2011 - 12 , IN PROCEEDINGS UNDER SECTION 143(3) R.W.S. 153A(1)(B) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T (SS) A NO . 64 / A HD/20 13 A SSE SSMENT YEAR 200 8 - 09 I.T(SS) A NO. 64/AHD/2013 A.Y. 2008 - 09 PAGE NO A CI T VS. HITEN RAM ESHCHANDRA VASANT 2 2. THE REVENUE S SOLE SUBSTANTIVE GROUND IS OF ADDITION OF RS. 28,34,700/ - MADE ON ACCOUNT OF UNACCO UNTED INVESTMENT . N ET 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. 2 1/2015 DATED 10 - 12 - 2015 CLEARLY ENVISAGING THEREIN THAT DEPARTMENT S PENDING APPEALS BEFORE THE TRIBUNAL/HIGH COURTS ARE TO BE WITHDRAWN/NOT PRESSED AS PER THE ABOVE ST ATED CIRCULAR .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 04 - 04 - 201 6 SD/ - SD/ - ( MANISH BORAD ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 04 /04 /2016 AK / COPY OF ORDER FORW ARDED 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. 64/AHD/2013 A.Y. 2008 - 09 PAGE NO A CI T VS. HITEN RAM ESHCHANDRA VASANT 3 / ,