ITO, Ward-15(1), Hyd, Hyderabad V. Jatinder Dev Khanna, Sec'bad, Secunderabad

CO 3/HYD/2016

• Counselvise Citation: [2016] 123 COUNSELVISE.COM (IT) 2173 (ITAT-HYDERABAD)
• Duration Of Justice: 15 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 16-02-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2007-2008
• Appeal Filed On: 01-02-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: B KURMI NAIDU
• Assessee Lawyers: P VENKATESHWAR RAO
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B : HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA.NO.1346/HYD/2015 ASSESSMENT YEAR 2007-2008 THE INCOME TAX OFFICER WARD-15(1) HYDERABAD. VS. MR. JATINDER DEV KHANNA SECUNDERABAD 500 010 PAN ABVPK5288J (APPELLANT) (RESPONDENT) CROSS OBJECTION NO.03/HYD/2016 ARISING OUT OF ITA.NO.1346/HYD/2015 - ASSESSMENT YEAR 2007-2008 MR. JATINDER DEV KHANNA SECUNDERABAD 500 010 PAN ABVPK5288J VS. THE INCOME TAX OFFICER WARD-15(1) HYDERABAD. ( CROSS - OBJECTOR ) (RESPONDENT) FOR REVENUE : MR. B. KURMI NAIDU FOR ASSESSEE : MR. P. VENKATESHWAR RAO DATE OF HEARING : 16.02.2016 DATE OF PRONOUNCEMENT : 16 .02.2016 ORDER PER SMT. P. MADHAVI DEVI, J.M. THIS IS REVENUES APPEAL FOR THE A.Y. 2007-08. IN THIS APPEAL, THE REVENUE IS AGGRIEVED BY THE ORD ER OF THE LD. CIT(A)-7, HYDERABAD DATED 04.09.2015 AND TH E CROSS OBJECTIONS ARE FILED BY THE ASSESSEE IN SUPPO RT OF THE ORDER OF THE LD. CIT(A)-7, HYDERABAD. 2 ITA.NO.1346/H/2015 & CO.NO.03/H/2016 MR. JATINDER DEV KHANNA, SECUNDERABAD. 2. AT THE TIME OF HEARING, THE LD. D.R. MR. B. KURMI NAIDU, SUBMITTED THAT THE TAX EFFECT IN THIS APPEAL IS LESS THAN RS. 10 LAKHS AND THEREFORE, REVENUES APPEAL IS LIABLE TO BE DISMISSED IN VIEW OF CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WHICH FACT IS CONFIRMED BY THE LD. COUNSEL FOR THE ASSESSEE. 3. ON PERUSAL OF THE CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE FIND THAT THE CBDT HAS FIXED THE MONETARY LIMIT FOR FILING OF APPEALS BEFO RE THE TRIBUNAL, HONBLE HIGH COURT AND HONBLE SUPREME CO URT RESPECTIVELY. THE MONETARY LIMIT FIXED FOR FILING O F APPEAL BEFORE THE TRIBUNAL IS RS.10 LAKHS AND IT IS ALSO C LARIFIED THAT THE TAX EFFECT MEANS THE DIFFERENCE BETWEEN TH E TAX ON THE TOTAL INCOME ASSESSED AND THE TAX THAT WOULD HAVE BEEN CHARGEABLE ON SUCH TOTAL INCOME BEING REDUCED BY THE AMOUNT OF INCOME IN RESPECT OF THE ISSUES AGAIN ST WHICH, APPEAL IS INTENDED TO BE FILED AND ALSO THAT THE TAX WILL NOT INCLUDE ANY INTEREST THEREON, EXCEPT WHERE CHARGEABILITY OF INTEREST ITSELF IS IN DISPUTE. PAR A-10 OF THE INSTRUCTION ALSO CLARIFIES THAT THE INSTRUCTION WIL L APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO B E FILED HENCEFORTH IN THE HIGH COURTS/ TRIBUNAL AND HAS DI RECTED THE DEPARTMENT TO EITHER WITHDRAW OR NOT PRESS THE APPEALS BELOW THE SPECIFIED TAX LIMITS. DULY TAKING NOTE OF THE CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE DISMISS THE APPEAL OF THE REVENUE WITH LIB ERTY TO THE REVENUE TO SEEK RECALL OF THIS ORDER, IF THIS A PPEAL FALLS WITHIN ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCUL AR. 3 ITA.NO.1346/H/2015 & CO.NO.03/H/2016 MR. JATINDER DEV KHANNA, SECUNDERABAD. SINCE, THE APPEAL OF THE REVENUE IS DISMISSED, THE CROSS OBJECTIONS FILED BY THE ASSESSEE WHICH IS ONLY IN S UPPORT OF THE ORDER OF THE CIT(A) IS ALSO DISMISSED. 4. IN THE RESULT, APPEAL OF THE REVENUE AND CROSS OBJECTIONS OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 16.02.2016. SD/- SD/- (S. RIFAUR RAHMAN) (SMT. P. MADHAVI DEVI) ACOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED 16 TH FEBRUARY, 2016 VBP/- COPY TO : 1. THE INCOME TAX OFFICER,WARD - 15(1), ROOM NO.124, 1 ST FLOOR, B-BLOCK, INCOME TAX TOWERS, A.C. GUARDS, HYDERABAD. 2. MR. JATINDER DEV KHANNA, PLOT NO.21, SURABHI ENCLAVE, PHASE-III, JANAPRIYA APARTMENTS, BESIDE KOWKUR, SECUNDERABAD 500 010. 3. CIT(A) - 7 , HYDERABAD. 4. PR. CIT - 7 , HYDERABAD 5. D.R. ITAT B BENCH, HYDERABAD. 6 . GUARD FILE