The ITO, Ward-4(1),, Ahmedabad v. Gujarat Telephone Cables Pvt. Ltd.,, Ahmedabad

MA 8/AHD/2010 | 2003-2004
Pronouncement Date: 30-04-2010 | Result: Dismissed

Appeal Details

RSA Number 820524 RSA 2010
Assessee PAN AAACG5579M
Bench Ahmedabad
Appeal Number MA 8/AHD/2010
Duration Of Justice 3 month(s) 1 day(s)
Appellant The ITO, Ward-4(1),, Ahmedabad
Respondent Gujarat Telephone Cables Pvt. Ltd.,, Ahmedabad
Appeal Type Miscellaneous Application
Pronouncement Date 30-04-2010
Appeal Filed By Assessee
Order Result Dismissed
Bench Allotted B
Tribunal Order Date 30-04-2010
Assessment Year 2003-2004
Appeal Filed On 28-01-2010
Judgment Text
IN THE INCOME TAX APPELLLATE TRIBUNAL AHMEDABAD BENCHES B AHMEDABAD BEFORE S/ SHRI MAHAVIR SINGH JUDICIAL MEMBER & SH RI D.C.AGARWAL ACCOUNTANT MEMBER M.A.NO.8/AHD/2010 (ARISING OUT ITA NO.3588/AHD/2007 & CO NO.349/AHD/2007 ASSESSMENT YEAR: 2003-04 DATE OF HEARING: 30.4.10 DRAFTED: 30.4.10 INCOME TAX OFFICER WARD-4(1) AHMEDABAD VS. GUJARAT TELEPHONE CABLES LTD. GTCL HOUSE B/H. RATNAM BUILDING OFF. C.G. ROAD AHMEDABAD PAN NO.AAACG5579M (APPELLANT) (RESPONDENT) (ORIGINAL APPELLANT) (ORIGINAL RESPONDENT) APPELLANT BY : SHRI U.B. MISHRA DR RESPONDENT BY: NONE ORDER PER MAHAVIR SINGH J.M. BY WAY OF THIS MISCELLANEOUS APPLICATION (MA) THE REVENUE HAS REQUESTED FOR RECTIFYING THE TRIBUNALS ORDER IN ITA NO.3588/AHD/2007 & CO NO.349/AHD/2007 DATED 17-09-2009. 2. THE ONLY GRIEVANCE OF THE REVENUE AGAINST THE IM PUGNED ORDER IS THAT THE TRIBUNAL HAS ADJUDICATED ON THE BASIS OF LOW TAX EF FECT CIRCULAR. THE LD. SR-DR REFERRED TO THE GROUNDS OF MA AS UNDER:- IN THE CASE OF THE ASSESSEE FOR A.Y. 2003-04 THE ASSESSMENT WAS MADE U/S. 143(3) ON 23.03.2006 DETERMINING THE LOSS AT R S.27 76 71 990/- WHICH WAS ARRIVED AT AFTER DISALLOWING INTER ALIA DISALLOWANCE OF RS.7 74 687/- ON ACCOUNT OF PROPORTIONATE INTEREST U/S. 36(1)(III) OF THE ACT. AGAINST THE ABOVE DISALLOWANCE THE ASSESSEE FIELD APPEAL BEFORE THE LEARNED CIT(A) WHO HAD DELETED THE ABOVE DISALLOWA NCE. AGGRIEVED BY THE DECISION OF THE LEARNED CIT(A) TH E REVENUE FIELD APPEAL BEFORE THE HOBLE ITAT AND THE HONBLE ITAT HAS DIS MISSED THE APPEAL IN LIMINE ON THE GROUND OF LOW TAX EFFECT I.E. BELOW R S.2 LACS EVEN THOUGH THE TAX EFFECT INVOLVED WAS 3 06 388/- (NOTIONAL). THER EFORE THERE OCCURRED A 2 MISTAKE IN THE ORDER OF THE HONBLE ITAT AND IN VIE W OF THE BOARDS INSTRUCTION NO.5/2008 DATED 15.05.2008 IT IS PRAYE D THAT THE ORDER PASSED BY THE HONBLE ITAT NO.3599/AHD & CO NO.349/AHD/200 7 DATED 17.09.2009 FOR A.Y. 2003-04 MAY BE RECALLED AND THE ISSUE MAY BE ADJUDICATED. IN VIEW OF THESE THE LD. SR-DR REQUESTED THAT THIS IS NOT A TAX EFFECT CASE AND THE ISSUES BE DECIDED ON MERITS AFTER RECALLING THE ORDER OF THE TRIBUNAL. 3. WE HAVE HEARD THE LD. SR-DR AND GONE THROUGH THE FACTS OF THE CASE WE FIND THAT THE TRIBUNAL RELYING ON THE HONBLE DELHI HIGH COURT IN THE CASE OF CIT V. MANGLAM RICINUS LTD. (2008) 174 TAXMAN 186 (DEL) WHEREIN THE HONBLE DE LHI HIGH COURT HAS CONSIDERED THE TAX EFFECT ON NEGATIV E INCOME AND HELD THAT THE TRIBUNAL HAS RIGHTLY DISMISSED THE APPEAL OF THE RE VENUE ON TAX EFFECT. SIMILARLY IN THE PRESENT CASE THE TRIBUNAL ALSO DISMISSED TH E APPEAL OF THE REVENUE BEING LOW TAX EFFECT CASE ON NEGATIVE INCOME. ACCORDINGL Y WE FIND NO MISTAKE APPARENT FROM RECORD IN THE ORDER OF THE TRIBUNAL. THIS MA OF REVENUE IS DISMISSED. 4. IN THE RESULT REVENUES MA IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 30 /04/2010. SD/- SD/- ( D.C.AGARWAL ) ( MAHAVIR SINGH ) ACCOUNTANT MEMBER JUDICIAL MEMBER PLACE: AHMEDABAD. DATE : 30/04/2010 DKP* COPY OF THE ORDER FORWARDED TO :- 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A)-XXI AHMEDABAD 5. THE DR ITAT AHMEDABAD 6. GUARD FILE (IN DUPLICATE) BY ORDER DR / AR ITAT AHMEDABAD