DCIT, CIRCLE-2, JODHPUR vs. SMT. PREMLATA JANGID, JODHPUR

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ITA 210/JODH/2018Status: DisposedITAT Jodhpur18 July 2018AY 2013-142 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. The primary reason for dismissal was that the tax effect of the additions deleted by the CIT(A) was below Rs. 20 lacs, as per CBDT Circular No. 3/2018.

What were the facts?

The Revenue appealed against the CIT(A)'s deletion of an addition of Rs. 45,00,000/- made by the AO on account of unexplained opening balance in the creditors account. The assessee had failed to furnish confirmation from sundry creditors.

What were the issues?

Whether the CIT(A) was justified in deleting the addition on account of unexplained opening balance in creditors account. Whether the appeal should be dismissed due to low tax effect.

Which sections of the Income-tax Act were involved?

Section 68,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: 18/07/2018

PER: R.C. SHARMA, AM

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

CIT(A)-2, Udaipur dated 01/03/2018 for the A.Y. 2013-14 in the

matter of order u/s 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 CIT(A) was justified in deleting the addition of Rs. 45,00,000/-= u/s 68 made by the AO on account of unexplained opening balance in the creditors account as the assessee failed to furnish confirmation from sundry creditors.”

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. 210/Jodh/2018) Assistant Registrar Jodhpur Bench

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