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Income Tax Appellate Tribunal - Ahmedabad

Hansaben Vinodlal Shah,, Surat vs Department Of Income Tax on 1 January, 2016

           IN THE INCOME TAX APPELLATE TRIBUNAL
                    AHMEDABAD "D" BENCH

       Before: Shri Anil Chaturvedi, Accountant Member
           and Shri S. S. Godara, Judicial Member

                       ITA No. 1664/Ahd/2011
                      Assessment Year 2008-09


     The ACIT,                            Smt. Hansaben Vinodlal
     Cir.6, Surat                         Shah, 6/1940-42,
     (Appellant)                     Vs   Vardan Apartment,
                                          Dalagia Mohollo
                                          Mahidharpura, Surat
                                          PAN: AMCPS0163J
                                          (Respondent)


         Revenue by:           Shri Ke yur Shah, Sr. D.R.
         Assessee by:          Shri J.P. Shah, A.R.

       Date of hearing                    :   17-12-2015
       Date of pronouncement              :   01-01-2016




                             आदेश /ORDER

PER : S. S. GODARA, JUDICIAL MEMBER:-

This Revenue's appeal for A.Y. 2008-09, arises from order of the CIT(A)-IV, Surat dated 24-03-2011 in appeal no. CAS- IV/220/2010-11, in proceedings under section 143(3) of the Income Tax Act, 1961; in short "the Act".

ACIT vs. Smt. Hansben Vinodlal Shah

2. The Revenue's sole substantive ground challenges the lower appellate order deleting addition made on account of conversion of short term capital gains to business income of Rs. 29,58,505/-. There is no dispute that the net tax effect in the instant appeal is less than Rs. 10 lacs. We find that the Central Board of Direct Taxes; hereafter the 'Board' has issued the circular no. 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10-12- 2015 clearly envisaging therein that department's pending appeals before the tribunal/high courts are to be withdrawn/not pressed as per the above stated circular. The same has been declared to be having retrospective effect in other words. We take into consideration the above stated Board's circular and dismiss the instant appeal accordingly.

3. This Revenue's appeal is dismissed as having low tax effect.

Order pronounced in the open court on 01-01-2016 Sd/- Sd/-

(ANIL CHATURVEDI) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER Ahmedabad : Dated 01/01/2016 ak आदेश क त ल प अ े षत / Copy of Order Forwarded to:-

1. Assessee

2. Revenue

3. Concerned CIT

4. CIT (A)

5. DR, ITAT, Ahmedabad

6. Guard file.

I.T.A No. 1664/Ahd/2011 A.Y. 2008-09 Page No 3 ACIT vs. Smt. Hansben Vinodlal Shah By order/आदेश से, उप/सहायक पंजीकार आयकर अपील य अ धकरण, अहमदाबाद