THE ITO, WARD-2(2)(1), AHMEDABAD vs. M/S. APEX DYES & INTERMEDIATES, AHMEDABAD

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ITA 143/AHD/2015Status: DisposedITAT Ahmedabad13 December 2017AY 2008-092 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal considered the CBDT circular no. 21/2015, which mandates withdrawal or non-pressing of departmental appeals with low tax effect. Consequently, both appeals filed by the Revenue were dismissed.

What were the facts?

The Revenue appealed against the CIT(A)'s order deleting the disallowance of interest expense for assessment years 2008-09 and 2009-10. The net tax effect in both appeals was below Rs. 10 lacs.

What were the issues?

Whether appeals with low tax effect should be withdrawn or not pressed as per CBDT circulars.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AHMEDABAD “A” BENCH AHMEDABAD

Hearing: 13.12.2017Pronounced: 13.12.2017

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH AHMEDABAD

BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER

ITA Nos. 143 & 144/Ahd/2015 (Assessment Years: 2008-09 & 2009-10) The Income-tax Officer, Ward-2(2)(1), Ahmedabad, 1st Floor, C. U. Shah Bldg., Ashram Road, Ahmedabad- 380009 Appellant Vs. M/s. Apex Dyes & Intermediates, 7-B, Ajanta Commercial Centre, Ashram Road, Ahmedabad - 380014 Respondent

PAN: AADFA2959F

राज�व क� ओर से/By Revenue : Shri Keyur Patel, Sr. D.R. आवेदक क� ओर से/By Assessee : Shri R. C. Shah, A.R. सुनवाई क� तार�ख/Date of Hearing : 13.12.2017 घोषणा क� तार�ख/Date of Pronouncement : 13.12.2017 ORDER PER BENCH

These two Revenue’s appeals for assessment years 2008-09 & 2009-10 arise against the CIT(A)-XIV, Ahmedabad’s separate orders dated 17.10.2014 & 16.10.2014, in case nos. CIT(A)-XIV/Ward-7(3)/398/2013-14 & CIT(A)- XIV/Ward/7(3)/397/2013-14; respectively, in proceedings u/s. 143(3) r.w.s. 147 of the Income Tax Act, 1961; in short “the Act”.

ITA Nos. 143 & 144/Ahd/15 [ITO vs. M/s. Apex Dyes & Intermediates] - 2 - A.Ys. 2008-09 & 2009-10

2.

The Revenue’s substantive ground pleaded in the both appeals challenges the CIT(A)’s order deleting the disallowance of interest expense amounting to Rs.14,48,432/- in A.Y. 2008-09 and Rs.19,36,829/- in A.Y. 2009-10. There is no dispute that the net tax effect in both appeals is less than Rs.10 lacs. We find that the Central Board of Direct Taxes; hereafter the ‘Board’ has issued the circular no. 21/2015 dated 10.12.2015 clearly envisaging therein that department’s pending appeals before the tribunal/high courts are to be withdrawn/not pressed as per the above stated circular. The same has been declared to be having retrospective effect in other words. We take into consideration the above stated Board’s circular and dismiss both the appeals accordingly.

3.

Revenue’s both appeals are dismissed as having low tax effect.

[Pronounced in the open Court on this the 13th day of December, 2017.]

Sd/- Sd/- (PRADIP KUMAR KEDIA) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER Ahmedabad: Dated 13/12/2017 True Copy S.K.SINHA आदेश क� ��त�ल�प अ�े�षत / Copy of Order Forwarded to:- 1. राज�व / Revenue 2. आवेदक / Assessee 3. संबं�धत आयकर आयु�त / Concerned CIT 4. आयकर आयु�त- अपील / CIT (A) 5. �वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण, अहमदाबाद / DR, ITAT, Ahmedabad 6. गाड� फाइल / Guard file. By order/आदेश से,

उप/सहायक पंजीकार आयकर अपील�य अ�धकरण, अहमदाबाद ।

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