ITO, Ward-3(3)(2), Surat V. Shri Babulal Pyarchand Shah, Surat

MA 16/SRT/2020

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 6177 (ITAT-SURAT)
• Duration Of Justice: 1 year(s) 2 month(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 21-04-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 21-02-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANUPAMA SINGLA
• Assessee Lawyers: SHAUNAK JHAVERI
• Keywords: Tax effect
• Section: 254(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM MA NO.16/SRT/2020 [ARISING OUT OF IT(SS)A NO. 228/AHD/2017] ASSESSMENT YEAR: (2012-13) (VIRTUAL COURT HEARING) THE ITO, WARD-2(3)(2), SURAT. VS. SHRI BABULAL PYARCHAND SHAH, 78, SAFI SOCIETY, L H ROAD, SURAT -395010, GUJARAT. ./ ./ PAN/GIR NO.: ACIPS4178H (REVENUE) (ASSESSEE) ASSESSEE BY : MS ANUPAMA SINGLA, SR. DR RESPONDENT BY : SHRI SHAUNAK JHAVERI, CA / DATE OF HEARING : 05/03/2021 /DATE OF PRONOUNCEMENT : 21/04/2021 / O R D E R PER DR. A. L. SAINI, ACCOUNTANT MEMBER: BY WAY OF CAPTIONED APPLICATION, THE REVENUE HAS SOUGHT TO POINT OUT THAT A MISTAKE APPARENT FROM RECORD WITHIN THE MEANING OF SECTION 254(2) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) HAS CREPT IN THE ORDER OF THE TRIBUNAL DATED 23.08.2019. 2. THE CASE OF THE REVENUE IN THIS MISCELLANEOUS APPLICATION (MA) IS THAT SINCE THE ISSUE INVOLVED IN THE ASSESSEES APPEAL RELATES TO PENNY STOCK, THEREFORE IT FALLS WITHIN THE AMBIT OF THE EXCEPTION PROVIDED UNDER THE CIRCULAR NO. 23 OF 2019 DATED 06.09.2019, THEREFORE ORDER OF THE TRIBUNAL DATED 23.08.2019 MAY BE RECALLED. 3. ON THE OTHER HAND, LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ASSESSMENT WAS FRAMED BY THE ASSESSING OFFICER ON MERITS AND THE LD. CIT(A) HAS DELETED THE ADDITION AFTER HAVING DISCUSSED THE MATERIAL ON MERITS, THEREFORE THERE IS NO QUESTION FOR EXCEPTION IN THE SAID ISSUE. PAGE | 2 MA NO.16/SRT/2020 ASSESSMENT YEAR.2012-13 BABULAL PYARCHAND SHAH 4. WE HAVE HEARD BOTH THE PARTIES AND CAREFULLY GONE THROUGH THE SUBMISSIONS PUT FORTH ON BEHALF OF THE ASSESSEE. WE NOTE THAT IN THIS REVENUES APPEAL, THE TAX EFFECT IN THE APPEAL IS TO THE TUNE OF RS.30,69,878/- WHICH FALLS BELOW THE MONETARY LIMIT PRESCRIBED BY THE BOARD VIDE CIRCULAR NO. 17 OF 2019 DATED 08.08.2019. BESIDES, THE LD. CIT(A) HAS ADJUDICATED THE ASSESSEES APPEAL BASED ON THE MERITS, THEREFORE IT DOES NOT FALL UNDER ANY OF THE EXCEPTIONS PROVIDED BY THE BOARD CIRCULAR NO. 23 OF 2019 DATED 06.09.2019, THEREFORE WE DISMISS THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE. 5. IN THE RESULT, THE MISCELLANEOUS APPLICATION (IN MA NO.16/SRT/2020 FOR AY.2012-13) FILED BY THE REVENUE IS DISMISSED. ORDER IS PRONOUNCED ON 21/04/2021 AT THE TIME OF VIRTUAL COURT HEARING. SD/- SD/- (PAWAN SINGH) (DR. A.L. SAINI) JUDICIAL MEMBER ACCOUNTANT MEMBER LWJR /SURAT / DATE: 21/04/2021 SAMANTA COPY OF THE ORDER FORWARDED TO 1. THE ASSESSEE 2. THE RESPONDENT 3. THE CIT(A) 4. PR.CIT 5. DR/AR, ITAT, SURAT 6. GUARD FILE BY ORDER // TRUE COPY // ASSISTANT REGISTRAR/SR. PS/PS ITAT, SURAT