The DCIT, Circle-1(1)(2), Ahmedabad V. M/s. Divyam Real Estate Pvt.Ltd., Ahmedabad

MA 17/AHD/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 1205 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 month(s) 12 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-06-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2011-2012
• Appeal Filed On: 22-01-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJESH MEENA
• Keywords: Tax effect
• Section: 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & MS. MADHUMITA ROY, JUDICIAL MEMBER M.A. NO.17/AHD/2019 (IN ITA NO. 2255/AHD/2015) (ASSESSMENT YEAR : 2011-12) THE DCIT, CIRCLE (1)(1)(2), AHMEDABAD. VS. M/S. DIVYAM REAL ESTATE PVT. LTD., 4 TH FLOOR, R3 THE MALL, MANAV MANDIR, DRIVE-IN-ROAD, MEMNAGAR, AHMEDABAD - 382210. [PAN NO. AACCD 1171 E] ( APPELLANT ) .. ( RESPONDENT ) APPELLANT BY : SHRI RAJESH MEENA, SR. D.R. RESPONDENT BY : SHRI TUSHAR HEMANI, A.R. DATE OF HEARING 15/03/2019 DATE OF PRONOUNCEMENT 04/06/2019 O R D E R PER MS. MADHUMITA ROY - JM: THE INSTANT MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER PASSED BY THE TRIBUNAL ON 24.08.2018 ON LOW T AX EFFECT ON THE TOTAL INCOME ASSESSED FOLLOWING THE CBDT CIRCLE NO.3 OF 2018 DAT ED 11.07.2018. 2. THE CONTENTION OF THE REVENUE IS THIS THAT THE Q UANTUM INVOLVED AGGREGATES TO RS.66,84,724/- (25,62,261 + 41,22,463) RESULTING IN TO TAX EFFECT OF RS.22,72,138/- (8,70,913 + 14,01,225) I.E. WELL ABOVE THE THRESHOL D MONETARY LIMITS PRESCRIBED BY THE CIRCULAR MENTIONED HEREINABOVE. THUS THE ORDER, ACC ORDING TO THE REVENUE IS REQUIRED TO BE RECALLED. 3. AT THE TIME OF HARING OF THE INSTANT APPLICATION , THE LEARNED AR SUBMITTED THE COPY OF THE ORDER DATED 17.01.2017 U/S 154 OF THE I NCOME TAX ACT, 1961 PASSED BY THE - 2 - MA N O.17/AHD/2019(IN ITA NO.2255/A/15) DCIT VS. DIVYAM REAL ESTATE PVT. LTD. ASST.YEAR 2011-12 DCIT, CIRCLE 1(1)(2), AHMEDABAD WHEREBY AND WHERE UNDER THE TOTAL INCOME OF THE ASSESSEE HAS BEEN REVISED TO RS.35,79,268/-. WE HAV E CONSIDERED THE SAME CAREFULLY AND FOUND THE TAX EFFECT OF THE TOTAL INCOME OF THE ASS ESSEE IS MUCH BELOW THAN THE THRESHOLD LIMIT PRESCRIBED UNDER THE CBDT CIRCULAR AS MENTION ED IN THE FOREGOING PARAGRAPH. IN THAT VIEW OF THE MATTER, WE FIND NO MERIT AND SUBST ANTIATE IN THE SUBMISSIONS AND/OR STATEMENTS MADE BY THE REVENUE BY WAY OF MISC. APPL ICATION. HENCE, THE SAME IS DISMISSED. 4. IN THE RESULT, MISC. APPLICATION IS DISMISSED. THIS ORDER PRONOUNCED IN OPEN COURT ON 04/06/2019 SD/- SD/- ( WASEEM AHMED ) ( MS. MADHUMITA ROY ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 04/06/2019 PRITI YADAV, SR.PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / CONCERNED CIT 4. () / THE CIT(A). 5. , ! ' , #$%% / DR, ITAT, AHMEDABAD 6. &' () / GUARD FILE. / BY ORDER, //TRUE COPY// / ( DY./ASSTT.REGISTRAR) !, #$ / ITAT, AHMEDABAD 1. DATE OF DICTATION 28/05/2019 (DICTATION PAGE 2) 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 29/05/2019 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. 7. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 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