ACIT, Circle-1, Kadapa, Kadapa V. Siva Sai Srinivasa Constructions, Kadapa, Hyderabad

CO 58/HYD/2016

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 5090 (ITAT-HYDERABAD)
• Duration Of Justice: 4 year(s) 3 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 06-10-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 30-09-2020
• Assessment Year: 2008-2009
• Appeal Filed On: 03-10-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: A Y ALLOWING S APPEAL PARTLY
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH : HYDERABAD (THROUGH VIDEO CONFERENCING ) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO. 1138 /HYD./201 6 A.Y. 20 08 - 09 ACIT, CIRCLE 1 VS. M/S SIVA SAI SRINIVASA CONSTRUCTIONS KADAPA 1 - 713 - 1, DWARAKA NAGAR KADAPA PAN: A BCFS7714G CROSS OBJECTION NO. 58/HYD/2016 (IN ITA NO. 1138/HYD./2016 ) A.Y. 2008 - 09 M/S SIVA SAI SRINIVASA CONSTRUCTIONS VS. ACIT, CIRCLE 1 KADAPA KADAPA (APPELLANT) (RESPONDENT) F OR REVENUE : SH. SOLGY JOSE T KATTARAM, D. R. FOR ASSESSEE : SH. S. RAMA RAO, ADV. DATE OF HEARING : 30/0 9 /2020 DATE OF PRONOUNCEMENT 06 / 10 /2020 O R D E R PER SMT. P. MADHAVI DEVI, J.M. THIS IS REVENUES APPEAL AGAINST THE ORDER OF LD.CIT (A) , KURNOOL DATED 30.05.2016 FOR THE A.Y. 20 08 - 09 ALLOWING ASSESSEES APPEAL PARTLY. ASSESSEE HAS FILED THE CROSS OBJECTION. TH E APPEAL A LONG WITH THE CROSS OBJECTION W ERE TAKEN UP FOR HEARING THROUGH VIDEO CONFERENCING ON 30 .09.2020 AND BOTH THE PARTIES WERE HEARD. ITA NO. 1138 /HYD/201 6 AND CO 58/HYD /2016 AY 20 08 - 09 M/S SIVA SAI SRINIVASA CONSTRUCTIONS, KADAPA 2 2. AT THE TIME OF HEARING, LD. COUNSEL FOR THE ASSESSEE POINTED OUT THAT THE TAX EFFECT IN REVENUES APPEAL IS LESS THAN THE MONETARY LIMIT OF RS.50,00,000/ - AS PRESCRIBED BY THE CBDT CIRCULAR NO.03/2018 DATED 11.7.2018 AND CIRCULAR NO.17/2019 DATED 08.08.2019 . HE ALSO SUBMITTED THAT IF RE VENUES APPEAL IS DISMISSED ON ACCOUNT OF LOW TAX EFFECT, THE C.O. BECOMES INFRUCTUOUS. 3. LD.DR C ONFIRMED THAT THE TAX EFFECT IS BELOW THE STATUTORY LIMIT OF RS.50,00,000/ - . 4 . THEREFORE, THE APPEAL OF THE REVENUE IS DISMISSED FOR LOW TAX EFFECT IN AC CORDANCE WITH THE CBDT CIRCULAR NO.03/2018 DATED 11.7.2018 AND CIRCULAR NO.17/2019 DATED 08.08.2019 WITH LIBERTY TO SEEK RECALL OF THIS ORDER IF THIS CASE FALLS WITHIN ANY OF THE EXCEPTIONS TO THE CIRCULAR . CONSEQUENTLY THE C.O. OF THE ASSESSEE BECOMES INFRUCTUOUS AND IS DISMISSED AS SUCH . 5. I N THE RESULT, REVENUES APPEAL AND THE CROSS OBJECTION OF ASSESSEE BOTH ARE DISMISSED . ORDER PRONOUNCED ON 06 TH OCTOBER, 2020. SD/ - SD/ - (A. MOHAN ALANKAMONY) (P. MADHAVI DEVI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 06 TH OCTOBER, 2020 . *GMV COPY FORWARDED TO: 1. M/S SIVA SAI SRINIVASA CONSTRUCTIONS, 1 - 713 - 3, DWARAKA NAGAR, KADAPA 2. ACIT, CIRCLE - 1, KADAPA 3. CIT(A), KURNOOL 4. PR. CI T, KURNOOL . 5 . DR, ITAT, HYDERABAD. 6 . GUARD FILE.