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Income Tax Appellate Tribunal, “SMC” BENCH, AHMEDABAD
Before: Shri Pramod Kumar]
By way of this appeal, the Assessing Officer has challenged correctness of the order dated 12th June, 2015 passed by the by the learned CIT(A)-5, Vadodara, in the matter of assessment under section 143(3) of the Income-tax Act, 1961, for the assessment year 2011-12, on the following grounds:-
“1. On the facts and circumstances of the case and in law, the ld. CIT(A) has erred in deleting addition of Rs.2406000/- u/s 68 in the hands of assessee-firm ignoring the fact that assessee-firm has singularly failed in explaining the source of cash introduced under the grab of capital brought into the account of the partner.
The ld. CIT(A) has erred in restricting the addition of Rs.2176600/- to Rs.326400/- by arbitrarily restricting the disallowance at 15% of expenses ignoring the fact that facts of this case clearly establish that the entire expense was patently bogus.”
While dictating the order, I have noticed that the total tax involved in this appeal is said to be Rs.19,26,250/-. In view of this undisputed fact and in the light of recent CBDT
SMC-ITA No. 2634/Ahd/2015 ITO Vs. Pramukh Metal Quarry Assessment Year: 2011-12 Page 2 of 2 Circular No.3 of 2018 dated 11.07.2018, I am of the considered view that this appeal is liable to be dismissed as withdrawn for the simple reason that the tax effect involved in this appeal is less than Rs.20,00,000/-. Accordingly, I dismiss the appeal as withdrawn.
In the result, the appeal is dismissed. Pronounced in the open court today on the 23rd day of July, 2018.
Sd/-
Pramod Kumar (Accountant Member)
Ahmedabad, the 23rd day of July, 2018 **bt Copies to: (1) The appellant (2) The respondent (3) Commissioner (4) CIT(A) (5) Departmental Representative (6) Guard File By order