The ITO, Ward-4(2),, Ahmedabad v. Kabra Investment Pvt.Ltd.,, Ahmedabad

ITA 4218/AHD/2007 | 2003-2004
Pronouncement Date: 14-05-2010 | Result: Dismissed

Appeal Details

RSA Number 421820514 RSA 2007
Bench Ahmedabad
Appeal Number ITA 4218/AHD/2007
Duration Of Justice 2 year(s) 5 month(s) 15 day(s)
Appellant The ITO, Ward-4(2),, Ahmedabad
Respondent Kabra Investment Pvt.Ltd.,, Ahmedabad
Appeal Type Income Tax Appeal
Pronouncement Date 14-05-2010
Appeal Filed By Department
Order Result Dismissed
Bench Allotted C
Tribunal Order Date 14-05-2010
Date Of Final Hearing 11-05-2010
Next Hearing Date 11-05-2010
Assessment Year 2003-2004
Appeal Filed On 29-11-2007
Judgment Text
- 1 - IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH C AHMEDABAD BEFORE S/SHRI MUKUL SHRAWAT JM AND D.C.AGRAWAL AM INCOME-TAX OFFICER WARD 4(2) AHMEDABAD. V/S . KABRA INVESTMENT (P) LTD. AKANKSHA APRTS. NR. SOLA ROAD RLY. CROSSING GHATLODIA AHMEDABAD. (APPELLANT) .. (RESPONDENT) APPELLANT BY :- SHRI M. C. PANDIT SR. D.R. RESPONDENT BY:- SHRI ASEEM THAKKAR AR O R D E R PER D. C. AGRAWAL ACCOUNTANT MEMBER . THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF LD. CIT(A) VIII AHMEDABAD DATED 24.8.2007 FOR ASST. YEAR 2003-04 RAISING FOLLOWING GROUNDS:- 1. THE LD. CIT(A) HAS ERRED IN LAW AND ON THE FACTS OF THE CASE IN DELETING THE DISALLOWANCE OF TRADING LOSS OF RS.2 5 5 565/- MADE BY THE AO UNDER THE PROVISIONS OF SECTION 40A(2)(B) . 2. THE LD. CIT(A) HAS ERRED IN LAW AND ON THE FACTS OF THE CASE IN DELETING THE DISALLOWANCE OF INTEREST OF RS.4 16 91 3/- U/S 40A(2)(B) OF THE ACT. ITA NO. 4218/AHD.2007 ASST. YEAR :2003-04 2 2. AT THE OUTSET IT WAS NOTED THAT THE TAX EFFECT IN THE DEPARTMENTS APPEALS IS LESS THAN RS.2 LAKHS. DEPARTMENT OUGHT N OT HAVE FILED THE APPEAL. OUR VIEW IS SUPPORTED BY THE DECISION OF H ON. DELHI HIGH COURT IN THE CASE OF CIT VS. MANGLAM RICINUS LTD. (2008) 174 TAXMAN 186 (DEL). AS THE APPEAL SO FILED IS AGAINST THE EXECUT IVE INSTRUCTIONS WHICH ARE BINDING ON THE DEPARTMENT WE DISMISS THE APPEA L IN LIMINE. 4. IN THE RESULT THE APPEAL FILED BY THE DEPARTMENT I S DISMISSED. SD/- SD/- (MUKUL SHRAWAT) (D.C.AGRAWAL) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD DATED : 14/5/2010 MAHATA/- COPY OF THE ORDER FORWARDED TO :- 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT(APPEALS)- 4. THE CIT CONCERNS. 5. THE DR ITAT AHMEDABAD 6. GUARD FILE. BY ORDER DEPUTY / ASSTT.REGISTRAR ITAT AHMEDABAD ORDER PRONOUNCED IN OPEN COURT ON 14/5/2010