Income Tax Appellate Tribunal - Raipur
The Dy. Cit- 2(1),, Raipur (Cg) vs M/S. Antardhara Properties & Finance ... on 23 June, 2016
I TA N o s .1 30 & 1 3 1/ RP R/ 2 01 4 A s s ess m e nt Ye ar : 20 09 - 10 & 20 10 - 1 1 Page 1 of 2 IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, "SMC", RAIPUR [Coram: Pramod Kumar AM] ITA Nos.130 & 131/RPR/2014 Assessment Years: 2009-10 & 2010-11 Dy. Commissioner of Income Tax -2(1) ......................Appellant Raipur.
Vs. Antardhara Properties & Finance (P) Ltd. ...................Respondent Avinash House, Maruti Business Park, G.E. Road, Raipur (C.G.).
[PAN : AABCA 9959 L] Appearances by:
P.K. Mishra, for the appellant Amit Malu Jain, for the respondent Date of concluding the hearing: June 23 rd, 2016 Date of pronouncing the order : June 23 rd, 2016 O R D E R
1. By way of these appeals, the Assessing Officer has challenged correctness of the orders dated 11.04.2014 & 17.04.2014, passed by the learned CIT(A), for the assessment years 2009-10 & 2010-11 respectively, on the following grounds :-
A.Y. 2009-10 "1. Whether in law and on facts and circumstances of the case, the Ld. CIT(A) has erred in deleting the disallowance of Rs.14,13,467/- out of interest expenses as the interest bearing funds were diverted for non business purpose.
2. The Order of the Ld. CIT(A) is erroneous both in law and on facts."
I TA N o s .1 30 & 1 3 1/ RP R/ 2 01 4 A s s ess m e nt Ye ar : 20 09 - 10 & 20 10 - 1 1 Page 2 of 2 A.Y. 2010-11 "1. Whether in law and on facts and circumstances of the case, the Ld. CIT(A) has erred in deleting the disallowance of Rs.13,80,000/- out of interest expenses as the interest bearing funds were diverted for non business purpose.
2. The Order of the Ld. CIT(A) is erroneous both in law and on facts."
2. I have noticed that the tax effect involved in these appeals is less than Rs.10,00,000/-. In view of this undisputed fact and in the light of CBDT Circular No.21/2015 dated 10th December, 2015, I am of the considered view that these appeals are liable to be dismissed as withdrawn for the simple reason that tax effect involved in these appeals is less than Rs.10,00,000/-.
3. In the result, both the appeals are dismissed. Pronounced in the open Court on this 23rd day of June, 2016.
Sd/-
Pramod Kumar (Accountant Member) Dated: the 23 rd day of June, 2016.
PBN/*
Copies to: (1) The appellant
(2) The respondent
(3) CIT
(4) CIT(A)
(5) DR
(6) Guard File
By order
Assistant Registrar
Income Tax Appellate Tribunal Raipur Bench, Raipur