The ACIT, Cir.-2, JAMNAGAR V. M/s. Siddiq Sea Food, PORBANDAR

MA 2/RJT/2019

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 5124 (ITAT-RAJKOT)
• Duration Of Justice: 3 year(s) 2 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 22-02-2022
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2009-2010
• Appeal Filed On: 19-02-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: DI V YE SO DH A
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “RAJKOT” BENCH, RAJKOT [Conducted through E-Court at Ahmedabad] BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMEBR & SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMEBR MISCELLANEOUS APPLICATION No. 02/Rjt/2019 (in I.T.A. No. 321/Rjt/2015) ( Assess ment Ye ar : 2009-10) As sis ta nt C o mmi s s io ner o f In co me T ax Cir cl e- 2, Ja mn ag ar ब म/ V s . M / s. Si d di q Se a F o od Fi sh M ark et , Po rb a nda r / /P A N / G IR N o . : A A K FS 7 3 2 7 N ( Appellant) . . ( / Respondent) /Appellant by : Shri Nihar Ranjan Samal, Sr. D.R. / Respondent by : Sh ri Di v ye s h So dh a , A .R . D a t e o f H e a r i n g 16/02/2022 !"# /D a t e o f P r o n o u n c e m e n t 23/02/2022 ORDER PER MAHAVIR PRASAD, JM: This Miscellaneous Application has been filed by the Revenue against the order passed by this Bench in ITA No.321/Rjt/2015 for A.Y. 2009-10 on 30.07.2018 under s.254(2) of the Inco me Tax Act. M.A. No. 02/ Rjt 2019 (In ITA No. 321/Rjt/2015) [ACIT vs. M/s. Siddiq Sea Food] AY 2009-10 - 2 - 2. Learned DR by this Miscellaneous Application held as under: " 1 . T h e L e a r n e d C I T ( A ) e r r e d i n l a w a n d f a c t s i n d el e t i n g d i s a l l o w a n c e m a d e o n a c c o u n t o f e x c e s s l o s s c l a i m e d f o r t h e d a m a g e t o t h e s t o c k . 2 . O n t h e b a s i s o f t h e f a c t s a n d c i r c u m s t a n c e s o f th e c a s e , t h e l e a r n e d C I T ( A ) o u g h t t o h a v e u p h e l d t h e o r d e r o f t he A s s e s s i n g O f f i c e r . " H o w e v e r , t h e H o n ' b l e I T A T h a s n o t a d j u d i c a t e d t h e gr o u n d s o n m e r i t , b u t h a s d i s m i s s e d t h e r e v e n u e ' s a p p e a l r el y i n g o n C B D T ' s C i r c u l a r N o . 0 3 / 2 0 1 8 d a t e d 1 1 . 0 7 . 2 0 1 8 b e i n g th e t a x e f f e c t i s l e s s t h a n R s . 2 0 l a k h s . H o w e v e r , i n t h i s c a s e R e ve n u e A u d i t o b j e c t i o n h a s b e e n a c c e p t e d b y t h e d e p a r t m e n t ( c o p y e n c l o s e d ) . I n v i e w o f C B D T C i r c u l a r N o . 0 3 / 2 0 1 8 ' s P a r a n o , 1 0 ( C ) Wh e r e R e v e n u e o b j e c t i o n i n t h e c a s e h a s b e e n a c c e p t e d b y t h e d e p a r t m e n t . A d v e r s e j u d g m e n t s r e l a t i n g t o t h e i s s u e s h o u l d b e c o n t e s t e d o n m e r i t s n o t w i t h s t a n d i n g t h a t t h e t a x e ff e c t e n t a i l e d i s l e s s t h a n t h e m o n e t a r y l i m i t s s p e c i f i e d i n P a r a 3 or t h e r e i s n o t t a x e f f e c t . " 3. We have heard both the parties. Since, there is an audit objection in this case and sa me has been brought to our notice by the Depart ment and in view of CBDT's Circular No.03/2018 dated 11.07.2018 with regard to low tax effect, is not applicable. Thus, we recall the order dated 30.07.2018. The registry is directed to re-fix this M.A. No. 02/ Rjt 2019 (In ITA No. 321/Rjt/2015) [ACIT vs. M/s. Siddiq Sea Food] AY 2009-10 - 3 - matter on 5 t h April, 2022 before the Bench under inti mation to both the sides. 4. In the result, miscellaneous application filed by the Revenue is allowed. Sd/- Sd/- ( ANNAP UR NA GUP TA) (MAHAVIR PRASAD) ACC OUNTANT MEMB ER JUDICIAL MEMBER Ahmedabad: Dated 23/02/2022 True Copy S.K.SINHA आदेश े / Copy of Order Forwarded to:- $ / Revenue 2 द / Assessee ' ( )* + / Concerned CIT 4 + - / CIT (A) . / 0 1 2 2 )*3 )* #3 45द ( द / DR, ITAT, Ahmedabad 6 1 78 फ / Guard file. By order/ द श 3 D e p u t y / A s s t t . R e g i s t r a r I T A T , R a j k o t This Order pronounced in Open Court on 23/02/2022