The DCIT, Circle-1(1)(1), Ahmedabad V. M/s. Axis Bank Ltd., Ahmedabad

MA 111/AHD/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 9278 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 08-07-2019
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 13-02-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: L P JAIN
• Assessee Lawyers: PARIN SHAH ARS; S N SOPARKAR
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER M.A. NO.111/AHD/2019 (IN ./ IN ITA NO.530/AHD/2016) ( / ASSESSMENT YEAR : 2010-11) THE DCIT CIRCLE-(1)(1)(1) AHMEDABAD / VS. M/S.AXIS BANK LIMITED 3 RD FLOOR, TRISHUL OPP. SAMARRTHESHWAR TEMPLE LAW GARDEN, ELLISBRDIGE, AHMEDABAD ./ ./ PAN/GIR NO. : AAACU 2414 K ( / APPLICANT ) .. ( / RESPONDENT ) / APPLICANT BY : SHRI L.P. JAIN SR.DR / RESPONDENT BY : SHRI S.N.SOPARKAR & SHRI PARIN SHAH, ARS / DATE OF HEARING 05/07/2019 !'# / DATE OF PRONOUNCEMENT 08/07/2019 / O R D E R PER SHRI RAJPAL YADAV, JUDICIAL MEMBER : THE REVENUE HAS FILED THE PRESENT MISCELLANEOUS APP LICATION. IT HAS BEEN PLEADED IN THE APPLICATION THAT APPEAL OF THE REVENUE BEARING MA NO.111/AHD/2019 (IN ITA NO.530 /AHD/2016) DCIT VS. M/S. AXIS BANK LTD. ASST.YEAR 2010-11 - 2 - ITA NO.530/AHD/2016 WAS DISMISSED BY TRIBUNAL ON AC COUNT OF LOW TAX EFFECT INVOLVED IN THE APPEAL. 2. IN OTHER WORDS, THE TRIBUNAL HAS DISMISSED THE A PPEAL OF THE REVENUE BY HOLDING THAT TAX EFFECT BY VIRTUE OF THE RELIEF GIVEN BY THE CIT(A) IS LESS THAN RS.20 LAKHS AND THEREFORE APPE AL OF THE REVENUE IS NOT MAINTAINABLE. 3. IN THE MISCELLANEOUS APPLICATION, ASSESSING OFFI CER HAS SUBMITTED THE COMPUTATION OF , WHICH IS RS.20,60,453/-. THE LD.COUNSEL FOR THE ASSESSEE DID NOT DISPUTE THIS COMPUTATION AND ADMIT TED THAT TAX EFFECT IS MORE THAN RS.20 LAKHS. 4. WE HAVE DULY CONSIDERED THE RIVAL CONTENTION S AND PERUSED THE RECORD CAREFULLY. THE TRIBUNAL HAS GIVEN LIBERTY T O THE REVENUE TO APPLY FOR RECALL OF ITS ORDER IN CASE ON RE-VERIFICATION IT EMERGES OUT THAT THE TAX EFFECT IS MORE THAN THE PRESCRIBED LIMIT. 5. IN VIEW OF THE CONCESSION GIVEN BY THE TRIBUNAL IN ITS ORDER DATED 30/07/2018 AND COUPLED WITH THE FACTS THAT THE TAX EFFECT IS INVOLVED IS MORE THAN RS.20 LAKHS, WE ARE OF THE VIEW THAT ORDE R OF THE TRIBUNAL IS DESERVES TO BE RECALLED . THE MISCELLANEOUS APPLIC ATION OF THE REVENUE IS ALLOWED AND THE APPEAL IS RESTORED TO ITS ORIGINAL NUMBER. REGISTRY IS MA NO.111/AHD/2019 (IN ITA NO.530 /AHD/2016) DCIT VS. M/S. AXIS BANK LTD. ASST.YEAR 2010-11 - 3 - DIRECTED TO LIST THE APPEAL IN DUE COURSE AND ISSU E NOTICES TO BOTH THE PARTIES. 6. IN VIEW OF ABOVE, MISCELLANEOUS APPLICATION FIL ED BY THE REVENUE IS ALLOWED. ORDER PRONOUNCED IN THE COURT ON 8 TH JULY-2019 AT AHMEDABAD. SD/- SD/- ( WASEEM AHMED) ( RAJPAL YADAV ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 08/ 07 /2019 &.., .(../ T.C. NAIR, SR. PS !'#$%$' / COPY OF THE ORDER FORWARDED TO : 1. / THE APPLICANT 2. / THE RESPONDENT. 3. )*+ , / CONCERNED CIT 4. , ( ) / THE CIT(A)-I0, AHMEDABAD 5. /01 ((*+ , *+# , ) / DR, ITAT, AHMEDABAD 6. 145 6 / GUARD FILE. / BY ORDER, / ( //TRUE COPY// / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD 1. DATE OF DICTATION .. 5.7.19 (DICTATION-PAD 5- P AGES ATTACHED AT THE END OF THIS FILE) 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER ..5.7.19 3. OTHER MEMBER... 4. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.P. S./P.S.. 5. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 6. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.P .S./P.S.8.7.19 7. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 8.7.19 8. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK ... 9. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER.. 10. DATE OF DESPATCH OF THE ORDER