ITO, WARD-4, BHILWARA vs. M/S. GEMINI INFRAPROJECTS PVT. LTD., BHILWARA

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ITA 286/JODH/2018Status: DisposedITAT Jodhpur19 July 2018AY 2010-112 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 additions was below Rs. 20 lacs. Therefore, in accordance with CBDT Circular No. 3/2018, the appeal was dismissed on the ground of low tax effect.

What were the facts?

The Revenue appealed against the CIT(A)'s order which deleted an addition of Rs. 45,00,000/- made on account of bogus share application money. The assessee did not appear before the tribunal.

What were the issues?

Whether the Revenue's appeal should be dismissed due to low tax effect 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, JODHPUR BENCH (SMC

Before: SHRI R.C. SHARMA

Hearing: 19/07/2018

PER: R.C. SHARMA, AM

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

CIT(A), Ajmer dated 05/03/2018 for the A.Y. 2010-11 in the matter

of order u/s 143(3)/147 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. Deleting addition of Rs. 45,00,000/- on account of bogus Share Application money received from various paper companies for which specific information was received from the Investigation Wing, without appreciating the facts of the case; 2. The appellant craves to add, amend, alter, delete or modify the above grounds of appeal before or at the time of hearing”.

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 19/07/2018.

Sd/- [R.C. SHARMA] Accountant Member Dated : 19/07/2018 A/N Copy to : 1. The Appellant 2. The Respondent 3. The CIT 4. The CIT(A) 5. The DR 6. Guard File (ITA No. 286/Jodh/2018) Assistant Registrar Jodhpur Bench

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