COMMISSIONER OF INCOME TAX-II, VISAKHAPATNAM. V. M/S SEVEN SEAS AQUA FARMS AND EXPORTS LTD., VISAKHAPATNAM.

ITTA/303/2006

AI Insights

The case involves an appeal by the Commissioner of Income Tax-II, Visakhapatnam against M/s Seven Seas Aqua Farms And Exports Ltd., concerning tax assessments for the year 1997-1998. The appeal was based on orders from the Income Tax Appellate Tribunal, Visakhapatnam, and the Junior Commissioner of Income Tax, Special Range-I, Visakhapatnam. During the hearing, the appellant's counsel referred to a CBDT circular which led to the decision to withdraw the appeal due to the tax effect being below the stipulated threshold of Rs. 1 crore. The court also considered a similar case (ITTA.No.185 of 2016) where an appeal was permitted to be withdrawn under the same circular.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 699014 (HC-ANDHRA_PRADESH)
• Appeal Type: Others
• Pronouncement Date: 17-04-2023
• Assessment Year: misc
• Other Referred Cases: I T T A.No.185 of 2016
• Laws Referred To: Income Tax Act 1961
• Result in Favour of: Others
• Court: HIGH COURT
• Assessee Lawyers: M KIRANMAYEE
• Keywords: Appeal Withdrawal; CBDT Circular; Income Tax; Tax effect; Tax effect
• Section: 260A

Judgement Text

"IN THE HIGH COURT OF ANDHRA PRADESH :: AMARAVATI MONDAY ,THE SEVENTEENTH DAY OF APRIL TWO THOUSAND AND TWENTY THREE ,tQ ?7 3...: PRESENT ;~~~ fiti ~Y 3tl THE HONOURABLE SRI JUSTICE U.DURGA PRASAD RAO THE HONOURABLE SRI JUSTICE T MALLIKARJUNA RAO INCOME TAX TRIBUNAL APPEAL NO: 303 OF 2006 Income Tax Tribunal Appeal Under Section 260A of the Income Tax Act 1961 against the Order made in I.T.A.No.196/Vizag/2001 dated 12.04/2005 on the file of the Income Tax Appellate Tribunal, Visakhapatnam for the Assessment year 1997 to 1998. Preferred against the Order made in I.T.A.No.64/SR.1NSP/2000 -2001 for the assessment year 1997 — 1998 dated 08.02.2001 on the file of Junior Commissioner of Income Tax, Special Range — I, Visakhapatnam. Preferred against the Order made in PAN/GIR No.S-81, dated 20.06.2000 on the file of the Income Tax Officer, Special Range — I, Visakhapatnam. Between: Commissioner Of Income Tax-II, Visakhapatnam. ...Appellant AND M/s Seven Seas Aqua Farms And Exports Ltd., Visakhapatnam. ...Respondent Counsel for the Appellant: SMT. M KIRANMAYEE Counsel for the Respondents: The Court made the following: ORDER C HON'BLE SRI JUSTICE U.DURGA PRASAD RAO AND HON'BLE SRI JUSTICE T. MALLIKARJUNA RAO Income Tax Tribunal Appeal No.303 of 2006 JUDGMENT: (Per UDPR, D When the matter is taken up for hearing today, Smt M. Kiranmayee, learned standing counsel for Income Tax Department appearing for the appellant, by referring to Circular No.17 of 2019, dated 08.08.2019, of the Central Board of Direct Taxes (CBDT), would submit that all the appeals where the tax effect is below Rs.1,00,00,000/- (Rupees One Crore only) are required to be withdrawn and as in the present appeal also the tax effect being less than Rs.1,00,00,000/-, the appeal may be permitted to be withdrawn. Learned Standing Counsel further prayed that liberty may be granted in case it were to be found later that the subject matter of the appeal falls within the exceptions mentioned in Circular No.3 of 2018, dated 11.07.2018, issued by the CBDT, then to file an application for restoration of the appeal. Learned Standing Counsel placed on record a copy of the judgment dated 20.02.2020 in I T T A.No.185 of 2016 to submit that in similar case by referring Circular No.17 of 2019, the said appeal was permitted to be withdrawn. I i Having regard to the above submissions of learned Standing Counsel and on a perusal of the copy of the judgment in ITTA.No.185 of 2016, dated 20.02.2020, permission is accorded to withdraw the appeal. The appeal is, accordingly, dismissed as withdrawn with the liberty as afore-stated. No costs. As a sequel, interlocutory applications pending, if any, in this case shall stand closed. SDI- P VENKATA RAMANA JOINT REGISTRAR I/TRUE COPY// SECTION OFFICER To, 1. The Chairman, Income Tax Appellate Tribunal, Visakhapatnam, A.P. 2. The Commissioner of Income Tax (Appellate) Special Range — I, Visakhapatnam, A.P. 3. One CC to Smt. M Kiranmayee, SC for Income Tax [OPUC] 4. Two CD Copies s ree HIGH COURT DATED: 17/04/2023 5«a JUDGMENT ITTA.No.303 of 2006 DISMISSING THE LT.T.A. AS WITHDDRAWN "