VIMALACHAL PRINT & PACK PVT. LTD.,AHMEDABAD vs. THE JT. CIT, RANGE-8, AHMEDABAD

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ITA 2217/AHD/2015Status: DisposedITAT Ahmedabad15 May 2018AY 2011-122 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal upheld the assessee's plea, agreeing that the issue was covered by a previous co-ordinate bench decision. Consequently, the Assessing Officer was directed to delete the impugned addition.

What were the facts?

The assessee challenged an addition of Rs. 51,04,508/- confirmed by the CIT(A). The assessee argued that the CIT(A) failed to consider their submissions and a Gujarat High Court decision. Both parties agreed the issue was covered by a co-ordinate bench decision for a prior assessment year.

What were the issues?

Whether the addition made by the Assessing Officer and confirmed by the CIT(A) was justified, considering the assessee's submissions and relevant judicial precedents.

Which sections of the Income-tax Act were involved?

Section 145A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AHMEDABAD ‘C’ BENCH, AHMEDABAD

Per Pramod Kumar, AM:

1.

By way of this appeal, the assessee has challenged correctness of the order dated 3rd June 2015, passed by the learned CIT(A), for the assessment year 2011-12, on the following grounds:

“1. The Ld. CIT(A) has erred in law and on facts in confirming the addition u/s.145A of the Act of Rs.51,04,508/- without considering the submissions of the appellant.

2.

The Ld. CIT(A) has not considered the ratio of decision of the High Court of Gujarat in the case of Narmada Chematur Petrochemicals Ltd. (2010) 233 CTR (Guj) 265.

2.

When this appeal was called out for hearing, learned representatives fairly agreed that the issue in appeal is covered, in favour of the assessee, by a co-ordinate

ITA No.2217/Ahd/2015 Assessment Year: 2011-12 Page 2 of 2 bench’s decision in the case of this very assessee for the assessment year 2010-11. A copy of the said decision was also placed before us.

3.

In view of the admitted position as above, we uphold the plea of the assessee and direct the Assessing Officer to delete the impugned addition of Rs.51,04,508/-.

4.

In the result, the appeal is allowed in the terms indicated above. Pronounced in the open court today on the 15th May, 2018.

Sd/- Sd/- Mahavir Prasad Pramod Kumar (Judicial Member) (Accountant Member) Dated: 15th May, 2018

PBN/*

Copies to: (1) The appellant (2) The respondent (3) CIT (4) CIT(A) (5) DR (6) Guard File

By order

Assistant Registrar Income Tax Appellate Tribunal Ahmedabad benches, Ahmedabad

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