THE ITO, WARD-7(1), AHMEDABAD vs. SHRI GUNVANTKUMAR KANTILAL PATEL, AHMEDABAD

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ITA 781/AHD/2014Status: DisposedITAT Ahmedabad22 November 2017AY 2007-083 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 dismissed the Revenue's appeal as the tax effect was below the threshold specified in CBDT Circular No. 21/2015. This circular mandates withdrawal or non-pressing of appeals with low tax effect.

What were the facts?

The Assessing Officer made an addition of Rs. 62,44,400/- on account of unexplained cash credit. The CIT(A) deleted Rs. 14,49,200/- of this addition, leading to the Revenue's appeal.

What were the issues?

Whether the Revenue's appeal should be pressed given the low tax effect, in light of CBDT circulars. The applicability of CBDT Circular No. 21/2015 to pending appeals.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AHMEDABAD “B” BENCH

Before: Shri Rajpal Yadav & Shri Amarjit Singh

For Respondent: Shri Mudit Nagpal, Sr. D.R

PER : AMARJIT SINGH, ACCOUNTANT MEMBER:-

This Revenue’s appeal for A.Y. 2007-08, arises from order of the CIT(A)-XIV, Ahmedabad dated 03-12-2013, in proceedings under section 144 of the Income Tax Act, 1961; in short “the Act”.

I.T.A No. 781/Ahd/2014 A.Y. 2007-08 Page No 2 62,44,400/- on account of unexplained cash credit u/s. 68 of the act. The ld. CIT(A) has deleted the addition to the extent of Rs. 14,49,200/- on which the revenue has filed this appeal. Since the tax effect on the aforesaid amount on which the revenue is in appeal 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10-12- 2015 clearly envisaging therein that department’s pending appeals before the tribunal/high courts are to be withdrawn/not pressed as per the above stated circular.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 the instant appeal accordingly.

3.

This Revenue’s appeal is dismissed as having low tax effect. Order pronounced in the open court on 22-11-2017 (RAJPAL YADAV) (AMARJIT SINGH) JUDICIAL MEMBER ACCOUNTANT MEMBER Ahmedabad : Dated 22/11/2017 आदेश क" ""त"ल"प अ"े"षत / Copy of Order Forwarded to:-

1.

Assessee

2.

Revenue

3.

Concerned CIT

4.

CIT (A)

5.

DR, ITAT, Ahmedabad

6.

Guard file.

I.T.A No. 781/Ahd/2014 A.Y. 2007-08 Page No 3 By order/आदेश से, उप/सहायक पंजीकार आयकर अपील"य अ"धकरण, अहमदाबाद

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