ITO, ward-3(3)(1), Ahmedabad V. Ambrish Chandra Sharma (HUF), Ahmedabad

MA 369/AHD/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 6477 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 month(s) 7 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 10-02-2020
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2014-2015
• Appeal Filed On: 03-12-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: LALIT P JAIN
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER MA NO.369/AHD/2019 (IN ./ IN I.T.A. NO.2484/AHD/2018) [ / ASSESSMENT YEAR : 2014-15] THE ITO WARD-3(3)(1) AHMEDABAD / VS. AMBRISH CHANDRA SHARMA, HUF J-9. AALJI 19 HOMES NEAR UPVAN BUNGALOWS THALTEJ, AHMEDABAD ./ ./ PAN/GIR NO. : AAKHA 9996 H ( / APPLICANT ) .. ( / RESPONDENT ) / APPLICANT BY : SHRI LALIT P. JAIN, SR.DR / RESPONDENT BY : SHRI KARAN SHAH, AR / DATE OF HEARING 07/02/2020 !'# / DATE OF PRONOUNCEMENT 10/02/2020 / O R D E R PER SHRI RAJPAL YADAV, VICE PRESIDENT : PRESENT MISCELLANEOUS APPLICATION IS DIRECTED AT TH E INSTANCE OF REVENUE POINTING OUT APPARENT ERROR IN THE ORDER OF THE TRIBUNAL DATED 14/08/2019 PASSED IN ITA NO.2484/AHD/2018 FOR AY 20 14-15. MA NO.369/AHD/2019 (IN ITA NO.2484 /AHD/2018) ITO VS.AMBRISH CHANDRA SHARMA HUF ASST.YEAR 2014-15 - 2 - 2. IT IS PLEADED IN THE APPLICATION THAT APPEAL OF THE REVENUE WAS DISMISSED BY THE TRIBUNAL BY FOLLOWING CBDT CIRCULA R DATED 08/08/2019 WHEREBY IT WAS PROVIDED THAT IF TAX EFFECT BY VIRTU E OF RELIEF GRANTED BY THE CIT(A) IS LESS THAN RS.50 LAKHS, THEN REVENUE W OULD NOT FILE ANY APPEAL BEFORE THE TRIBUNAL. SINCE ACCORDING TO THE TRIBUNAL, THE TAX EFFECT ON RELIEF GRANTED BY THE CIT(A) WAS LESS THA N THE MONETARY LIMIT PROVIDED BY THE CIRCULAR, HENCE APPEAL WAS DISMISSE D AS NOT MAINTAINABLE. 3. THE REVENUE IN ITS APPLICATION PLEADED THAT AFTE R THE ISSUANCE OF CIRCULAR, THE BOARD HAS CLARIFIED VIDE CIRCULAR DAT ED 06/09/2019 AND 16/09/2019 THAT THIS CIRCULAR WILL NOT BE APPLICABL E ON THE CASES WHERE THE ASSESSEES HAVE CLAIMED BOGUS LTCG/STCG THROUGH PENNY STOCK. THUS, THE REVENUE HAS FILED THE PRESENT MISCELLANEO US APPLICATION FOR RECALL OF THE TRIBUNALS ORDER. 4. DURING THE COURSE OF HEARING, SHRI KARAN SHAH LD .COUNSEL FOR THE ASSESSEE SOUGHT AN ADJOURNMENT ON THE GROUND THAT H E WOULD LIKE TO SUBMIT THE DETAILS THAT NO BOGUS LONG TERM CAPITAL GAIN WAS CLAIMED BY THE ASSESSEE AND THE HEARING WAS ADJOURNED TO 17/04 /2020. HOWEVER, AFTER SOMETIME, BEFORE RAISING THE COURT, HE SUBMIT TED THAT ASSESSEE WOULD LIKE TO TAKE BENEFIT OF NEW KAR VIVAD SAMADHA N SCHEME INTRODUCED TWO-THREE DAYS BACK AND THEREFORE HE HAS NO OBJECTION IF THIS MISCELLANEOUS APPLICATION IS ALLOWED. MA NO.369/AHD/2019 (IN ITA NO.2484 /AHD/2018) ITO VS.AMBRISH CHANDRA SHARMA HUF ASST.YEAR 2014-15 - 3 - 5. CONSIDERING THE STAND OF THE LD.COUNSEL FOR THE ASSESSEE AS WELL AS THE PLEADINGS MADE BY THE REVENUE IN THE MISCELLANE OUS APPLICATION, WE RECALL THE ORDER OF THE TRIBUNAL PASSED IN ITA NO.2 484/AHD/2018 FOR AY 2014-15 DATED 14/08/2019 AND RESTORE THE APPEAL TO ITS ORIGINAL NUMBER. REGISTRY IS DIRECTED TO LIST THE APPEAL FOR HEARING ON 27/04/2020 . NO NOTICE WILL BE ISSUED AS THIS DATE OF HEARING HAS D ULY BEEN INFORMED TO BOTH THE PARTIES. 6. IN THE RESULT, MISCELLANEOUS APPLICATION FILED B Y THE REVENUE IS ALLOWED. ORDER PRONOUNCED IN THE COURT ON 10 -02-2020 AT AHMEDABAD. SD/- SD/- ( WASEEM AHMED ) ( RAJPAL YADAV ) ACCOUNTANT MEMBER VICE PRESIDENT AHMEDABAD; DATED 10/ 02 /2020 &.., .(../ T.C. NAIR, SR. PS !'#$%$' / COPY OF THE ORDER FORWARDED TO : 1. / THE APPLICANT 2. / THE RESPONDENT. 3. )*+ , / CONCERNED CIT 4. , ( ) / THE CIT(A)-3, AHMEDABAD 5. /01 ((*+ , *+# , ) / DR, ITAT, AHMEDABAD 6. 145 6 / GUARD FILE. / BY ORDER, / ( //TRUE COPY// / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD