Income Tax Appellate Tribunal - Chennai
Dr.M.R.Girinath , Chennai vs Acit Non Corporate Circle 10(1), ... on 6 August, 2018
आयकर अपील य अ धकरण ,' ए ' यायपीठ,चे नई
IN THE INCOME TAX APPELLATE TRIBUNAL
"A" BENCH, CHENNAI
ी जॉज माथन, या यक सद यएवं ी एस जयरामन, लेखा सद य केसम$
BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND
SHRI S. JAYARAMAN, ACCOUNTANT MEMBER
आयकर अपील सं/.I.T.A. No. 2656/Chny/2017
& CO. No: 11/Chny/2018
नधारण वष/Assessment Year : 2012-13
Assistant Commissioner of Income Tax, Dr. M.R. Girinath,
Non Corporate Circle 10(1), Vs. No.3, Hriday Kunj,
121 Mahatma Gandhi Road, Playground Street,
Chennai - 600 034. Kilpauk Garden Colony,
Chennai - 600 010.
[PAN: AACPG 1258N]
(अपीलाथ /Appellant) (%&यथ'/Respondent & Cross
Objector)
Revenue by : Shri. AR V Sreenivasan, JCIT
Assessee by : Mrs. Jharna B. Harilal, FLP
सुनवाईक.तार ख/Date of Hearing : 06.08.2018
घोषणाक.तार ख/Date of Pronouncement : 06.08.2018
आदे श/ O R D E R
PER S. JAYARAMAN, ACCOUNTANT MEMBER :
The Revenue filed this appeal against the order of Commissioner of Income Tax (Appeals)- 2, Chennai in ITA No. 23/CIT(A)-12/2015-16 dated :-2-: ITA No. 2995/Chny/2017 & CO No: 39/Chny/2018 28.09.2017 for assessment year 2012-13, while the assessee filed the CO for the same assessment year.
2. Shri. M.R. Girinath, the assessee, is a medical practitioner. While completing the assessment for assessment year 2012-13, the Assessing Officer found that the assessee was trading in large volumes of shares and other derivatives. After giving adequate opportunity to the assessee, the AO assessed the income returned by the assessee under the head "capital gains"
under the head "business income". Further, he made disallowance u/s. 14A r.w.r. 8D. Aggrieved, the assessee filed appeal before the Ld. CIT(A). The Ld. CIT(A) directed the AO to treat the transactions in shares under head "capital gains" and restricted the 14A disallowance from Rs. 8,50,871/- to Rs. 4,64,074/-.
3. Aggrieved, the Revenue filed the above appeal and the assessee filed the CO. At the time of hearing, the Ld. DR submitted that the appeal is falling within the monetary limit as per the CBDT circular and the Ld. AR also withdrew the CO. In the facts and circumstances, the appeal filed by the Revenue and the CO filed by the assessee are dismissed.
:-3-: ITA No. 2995/Chny/2017 & CO No: 39/Chny/2018
4. In the result, the Revenue's appeal and the CO filed by the assessee are dismissed.
Order pronounced in the open court on 06th August, 2018 at Chennai.
Sd/- Sd/-
(जॉजमाथन) (एसजयरामन)
(GEORGE MATHAN) (S. JAYARAMAN)
या यकसद!य/Judicial Member लेखासद!य/Accountant Member
चे नई/Chennai,
th
3दनांक/Dated: 06 August, 2018
JPV
आदे शक.% त5ल6पअ7े6षत/Copy to:
1. अपीलाथ'/Appellant 2. %&यथ'/Respondent 3. आयकरआयु9त) अपील(/CIT(A)
4. आयकरआयु9त/CIT 5. 6वभागीय% त न ध/DR 6. गाडफाईल/GF