Assistant Commissioner of Income-tax, Circle-2, Jamnagar v. Rambhai Kanabhai Godhania
[Citation -2016-LL-1007-28]

Citation 2016-LL-1007-28
Appellant Name Assistant Commissioner of Income-tax, Circle-2, Jamnagar
Respondent Name Rambhai Kanabhai Godhania
Court ITAT-Rajkot
Relevant Act Income-tax
Date of Order 07/10/2016
Assessment Year 2003-04
Judgment View Judgment
Keyword Tags tax effect
Bot Summary: The Revenue s substantive grounds pleaded in the instant appeal are as under: 1. There is no dispute that the net tax effect in the instant appeal is less than Rs.10 lacs. 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dated 10.12.2015 clearly envisaging therein that department s pending appeals before the tribunal/high courts are to be withdrawn/not pressed as per the above stated circular. We take into consideration the above stated Board s circular and dismiss the instant appeal accordingly. We come to assessee s Cross Objection No.27/Rjt/2013. Ld. counsel stated that he is not pressing the same since Revenue s appeal is being declined. The Revenue s appeal ITA No.428/Rjt/2011 is dismissed and assessee s Cross Objection i.e. C.O. No.27/Rjt/2013 is dismissed as not pressed.


IN INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT [Conducted through E-Court at Ahmedabad] BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER. ITA No. 428/Rjt/2011 & C. O. No.27/Rjt/2013 (Assessment Year: 2003-04) Assistant Commissioner of Vs. Shri Rambhai Kanabhai Income-tax, Circle-2, Godhania Jamnagar C/o Tacon Infrastructure Pvt. Ltd., 3, Vadi Plot, Porbander & Shri Rambhai Kanabhai Vs. Assistant Commissioner of Godhania Income-tax, Circle-2, C/o Tacon Infrastructure Pvt. Jamnagar Ltd., 3, Vadi Plot, Porbander PAN: ABEPG4112A (Appellant) (Respondent) By Revenue : Shri Arvind N. Sontakke, Sr. D.R. By Assessee : Shri Ankit Gokani, A.R. Date of hearing : 05-10-2016 Date of Pronouncement : 07-10-2016 ORDER PER S. S. GODARA, JUDICIAL MEMBER This Revenue s appeal and assessees Cross Objection for A.Y. 2003-04 arise from order dated 19.08.2011 passed by CIT(A), Jamnagar in case no. CIT(A)/Jam/119/10-11, in proceedings u/s.143(3) of Income Tax Act. 2 ITA N0. 428/Rjt/2011 & C.O. No.27 Rjt 2013 (Shri Rambhai K. Godhania) A.Y. 2003-04 2. Revenue s substantive grounds pleaded in instant appeal are as under: 1. CIT(A) has erred in law and on facts in deleting addition of Rs.3719243.99 made by AO on account of undisclosed income. 2. CIT(A) has erred in law and on facts in holding transaction entered into by assessee in earning so called LTCG of Rs.3633199.52 as genuine transactions. 3. There is no dispute that net tax effect in instant appeal is less than Rs.10 lacs. We find that Central Board of Direct Taxes; hereafter Board has issued circular no. 21/2015 dated 10.12.2015 clearly envisaging therein that department s pending appeals before tribunal/high courts are to be withdrawn/not pressed as per above stated circular. same has been declared to be having retrospective effect in other words. We take into consideration above stated Board s circular and dismiss instant appeal accordingly. 4. We come to assessee s Cross Objection No.27/Rjt/2013. Ld. counsel stated that he is not pressing same since Revenue s appeal is being declined. 5. Revenue s appeal ITA No.428/Rjt/2011 is dismissed and assessee s Cross Objection i.e. C.O. No.27/Rjt/2013 is dismissed as not pressed. [Pronounced in open Court on this 07th day of October, 2016.] Sd/- Sd/- (AMARJIT SINGH) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER Ahmedabad: Dated 07/10/2016 S.K.SINHA Copy of Order forwarded to:- 1. Appellant. 2. Respondent. 3. CIT (Appeals) 3 ITA N0. 428/Rjt/2011 & C.O. No.27 Rjt 2013 (Shri Rambhai K. Godhania) A.Y. 2003-04 4. CIT concerned. 5. DR., ITAT, Ahmedabad. 6. Guard File. By ORDER Deputy/Asstt.Registrar ITAT, Rajkot Assistant Commissioner of Income-tax, Circle-2, Jamnagar v. Rambhai Kanabhai Godhania
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