In the case of DCIT Vs. Soma Textiles & Industries Limited , ITAT Rajkot has dismissed 251 Appeal filed by Department as Tax effect in these appeals was not exceeding Rs. 10 Lakh, in view of recent CBDT circular no. 21/2015 dated 10th December 2015.
While Hearing the appeal ITAT observed that It is indeed heartening to note that in one stroke, the Government has not only prevented, but withdrawn, thousands of appeals before this Tribunal and before Hon’ble High Courts. In Ahmedabad benches and E-Court alone, as a result of this laudable initiative, almost 1,500 such appeals are listed for hearing this week, and will hopefully go off ITAT pendency dockets. We are sure this will allow everyone to concentrate on really important work and contribute to speedier resolution of serious and more important tax litigation. In an environment in which retrospectivity was attached only to the taxation and not to tax reliefs or concessions, such a paradigm shift in approach is unprecedented and possibly a game changing initiative heralding a new era in thoughtful litigation management.
Full text of the Judgment is as follows :-
IN THE INCOME TAX APPELLATE TRIBUNAL,
AHMEDABAD’A-1 ‘BENCH, AHMEDABAD
[Coram: Pramod Kumar AM and S S Godara JM]
I.T.A. No.:302/Ahd/2014
Assessment year: 1994-95
Dy Commissioner of Income Tax Circle 8, Ahmedabad and 250 others,
Vs.
Soma Textiles & Industries Limited and 250 others
And related 7 cross objections- as per list attached
Appearances by:
