The ITO, Ward-4(2)(1), Ahmedabad V. Shri Arvindkumar Shrishrimal, Ahmedabad

MA 17/AHD/2022

AI Insights

The case involves the Income Tax Officer, Ward 4(2)(1), Ahmedabad as the appellant and Shri Arvindkumar Shrishrimal as the respondent. The Revenue filed a Miscellaneous Application seeking recall of a previous order that dismissed the matter due to low tax effect. The issue at hand was the addition of Rs. 44,69,147 under the head 'short term capital gain', which was reopened under Section 263 of the Income Tax Act following a Revenue audit objection accepted by the Department. The Tribunal, upon considering the application, decided to recall the earlier order and set the matter for a new hearing.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 125629 (ITAT-AHMEDABAD)
• Duration Of Justice: 9 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 20-02-2023
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: D
• Next Hearing Date: 01-12-2022
• Assessment Year: 2013-2014
• Appeal Filed On: 17-05-2022
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 263; 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER M . A. N o . 17/ A hd / 20 2 2 ( I n I TA N o . 1 53 9/ A hd/ 2 0 19 ) (A s se s s m e n t Y e a r : 2 0 13 - 1 4 ) T h e I n c o me - T a x O f f ic er War d4 ( 2 ) ( 1 ) , Ah me da b ad बनाम/ V s . Sh r i A r vi n dk um a r Sh r i s h ri m al 40 1, N a r a ya n k r u p a Sq ua r e , N r . M it ha ka li R a il wa y C r os sin g, O f f . As hr a m R o a d, A h m ed ab a d थायी लेखा सं./जीआइआर सं./P A N / G I R N o . : A JV P S1 0 8 2 Q (अपीलाथ /Appellant) . . ( यथ / Respondent) अपीलाथ ओर से /Appellant by : Shri Rakesh Jha, Sr. D.R. यथ क ओर से/Respondent by : None स ु नवाई क तार ख / D a t e o f H e a r i ng 02/12/2022 घोषणा क तार ख /D a t e o f P ro n o u nc e me n t 21/02/2023 O R D E R PER Ms. MADHUMITA ROY - JM: The Miscellaneous Application has been filed by the Revenue seeking recall of the order dated 25.11.2021, whereby and whereunder the matter was dismissed due to low tax effect. 2. None appeared on behalf of the assessee. - 2 - MA No. 17/Ahd/2022(in ITA No.1539/A/19) ITO vs. Shri Arvindkumar Shrishrimal Asst.Year – 2013-14 2. The issue of addition of Rs.44,69,147/- made under the head ‘short term capital gain’ which was reopened under Section 263 of the Act pertains to the Revenue audit objection which has been duly accepted by the Department. Under these circumstances of the case, we, therefore, recall the order dated 25.11.2021 passed by us. The Registry is directed to keep the matter for hearing upon notice to the respective parties. 3. In the result, the Miscellaneous Application filed by the Revenue is allowed. This Order pronounced on 21/02/2023 Sd/- Sd/- (WASEEM AHMED) ( MADHUMITA ROY ) ACCOUNTANT MEMBER JUDICIAL MEMBER Ahmedabad; Dated 21/02/2023 True Copy S. K. SINHA आदेश क त ल प अ े षत/Copy of the Order forwarded to : 1. अपीलाथ / The Appellant 2. यथ / The Respondent. 3. संबं%धत आयकर आय ु 'त / Concerned CIT 4. आयकर आय ु 'त(अपील) / The CIT(A). 5. *वभागीय -त-न%ध, आयकर अपील य अ%धकरण, अहमदाबाद / DR, ITAT, Ahmedabad 6. गाड3 फाईल / Guard file. आदेशान ु सार/ BY ORDER, उप/सहायक पंजीकार (Dy./Asstt.Registrar) आयकर अपील य अ!धकरण, अहमदाबाद / ITAT, Ahmedabadition 13