SHIVANI ISPAT AND ROLLING MILL (P) LTD.,BYRNIHAT vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-SHILLONG, SHILLONG
In the result, the appeal of the assessee is allowed
ITA 227/GTY/2019[2014-15]Status: DisposedITAT Guwahati31 Jul 2020AY 2014-15
Bench: Shri A. T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.227/Gau/2019 ("नधा"रणवष" / Assessment Year:2014-15) Shivani Ispatand Rolling Mill Vs. Acit, Circle-Shillong (P) Ltd. 13Th Mile, Tamulkuchi, Byrnihat, G.S. Road, Ri-Bhoi, Meghalaya "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aafcs 3465 B (Appellant) .. (Respondent) Appellant By :Shri J.P. Gupta, Fca Respondent By :Shri T. Hunar, Jcit, Sr. Dr सुनवाईक"तार"ख/ Date Of Hearing : 15/06/2020 घोषणाक"तार"ख/Date Of Pronouncement : 31/07/2020 आदेश / O R D E R Per Dr. A. L. Saini: The Captioned Appeal Filed By The Assessee, Pertaining To Assessment Year 2014-15, Is Directed Against The Order Passed By The Commissioner Of Income Tax (Appeal)- Shillong, In Appeal No. Cit(A)/Shg/10083/2018-19 Dated 17.04.2019, Which In Turn Arises Out Of An Assessment Order Passed By The Assessing Officer U/S 143(3) / 92C(4) / 263 Of The Income Tax Act, 1961 (In Short The ‘Act’) Dated 30/11/2018. 2.When This Appeal Was Called Out For Hearing, The Ld. Counsel For The Assessee Invited Our Attention To The Order Dated 10.06.2020, Passed By The Tribunal In The Case Of M/S Raipur Steel Casting India (P) Ltd. & Srinath Ji Furnishing Pvt. Ltd. In I.T.A. No. 895& 1035/Kol/2019, For Assessment Year 2014-15.Wherein Thetribunal Held That Effect Of Omission Of Clause (I) Of Section 92Ba W.E.F 01.04.2017 Had The Effect Of It Being Omitted From Its Inception Hence, Reference
For Appellant: Shri J.P. Gupta, FCAFor Respondent: Shri T. Hunar, JCIT, Sr. DR
Section 143(3)Section 263Section 40ASection 92B
24 of the General Clauses Act would apply, and the notification of 1967, declaring Thane to be an urban area, would be continued under and for the purposes of Section 54A.
36. A reading of Section 54G makes it clear that the assessee is given a window of three years after the date on which transfer has taken place
