ITO, WARD-2, HANUMANGARH vs. SHRI SANJAY KUMAR GOYAL PROP. M/S. OM TRADERS, HANUMANGARH

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ITA 197/JODH/2018Status: DisposedITAT Jodhpur18 July 2018AY 2012-132 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 noted that the tax effect of the deleted addition was below the threshold specified in CBDT Circular No. 3/2018. Therefore, the appeal was dismissed on the ground of low tax effect.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order deleting an addition of Rs. 2,94,375/- made on account of capital gains. The tax effect of the deletion was below Rs. 20 lacs.

What were the issues?

Whether the Revenue's appeal should be dismissed due to low tax effect as per CBDT guidelines.

Which sections of the Income-tax Act were involved?

Section 154,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JODHPUR BENCH (SMC

Before: SHRI R.C. SHARMA

Hearing: 17/07/2018

PER: R.C. SHARMA, AM

This is an appeal filed by the revenue against the order of

the CIT(A), Bikaner dated 03/01/2018 for the A.Y. 2012-13 in the

matter of order u/s 154/143(3) of the Income-tax Act, 1961

[hereinafter referred to as ‘the Act’, for short]. The grounds

raised by the revenue in appeal are reproduced as under:

“1. Whether on the facts and in the circumstances of the case, the ld. CIT(A) has erred in deleting addition of Rs.2,94,375/- made on account of capital gain assessed u/s 154 of the IT Act, 1961.”

2.

I have gone through the orders of authorities below and found that tax

effect in respect of additions deleted by CIT(A) is below Rs. 20 lacs,

accordingly in term of CBDT Circular No. 3/2018 dated 11.07.2018 this

appeal deserves to be dismissed on the ground of low tax effect.

In the result, the appeal of the revenue is dismissed.

Order pronounced in the open court on 18/07/2018.

Sd/- [R.C. SHARMA] Accountant Member Dated : 18/07/2018 *Aman. Copy to : 1. The Appellant 2. The Respondent 3. The CIT 4. The CIT(A) 5. The DR 6. Guard File (ITA No. 139/Jodh/2018) Assistant Registrar Jodhpur Bench

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