ITO, Ward-7(1), Hyderabad V. Shri Syed Aneesuddin, Hyderabad

ITA 1103/HYD/2013

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 5913 (ITAT-HYDERABAD)
• Duration Of Justice: 6 year(s) 2 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-10-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 01-10-2019
• Assessment Year: 2007-2008
• Appeal Filed On: 26-07-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MOOKAMBI KEYAN S
• Keywords: Unexplained cash credit; Unexplained investment; Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO.1103/HYD/2013 ASSESSMENT YEAR: 2007 - 08 THE INCOME TAX OFFICER, WARD - 7(1), 2 ND FLOOR, B BLOCK, IT TOWERS, AC GUARDS, HYDERABAD. VS. SHRI SYED ANEESUDDIN, D.NO.12 - 2 - 830/34, ALAPATI NAGAR, MEHDIPATNAM, HYDERABAD. PAN: AAOPU 6624 Q (APPELLANT) (RESPONDENT) ASSESSEE BY: SHRI P.C. YADAV, AR REVENUE BY: SHRI MOOKAMBIKEYAN S - AR DATE OF HEARING: 01/10/2019 DATE OF PRONOUNCEMENT: 01 /10/2019 ORDER PER A. MOHAN ALANKAMONY, AM.: THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORDER OF THE LD. CIT(A) - VI , HYDERABAD DATED 18/04/2013 IN APPEAL NO. 0553/2010 - 11/CIT(A) - VI PASSED U/S. 143(3) R.W.S 147 & 250(6) OF THE ACT FOR THE ASST. YEAR 20 07 - 08. 2. THE REVENUE HAS RAISED THE FOLLOWING GROUNDS OF APPEAL: - 1. THE LD. CIT(A) - VI, HYDERABAD ERRED ON FACTS AND IN LAW. 2. THE LD. CIT(A) ERRED IN DELETING THE ADDITION OF RS. 8.75 LAKHS MADE TOWARDS CASH DEPOSITS IN TO BANK ACCOUNTS. 2 3. THE LD. CIT(A) ERRED IN DELETING THE ADDITION OF RS. 16.51 LAKHS MADE TOWARDS UNEXPLAINED CREDITS IN THE FORM OF LOANS. 4. THE LD. CIT(A) ERRED IN DE LETING THE ADDITION OF RS. 11.50 LAKHS MADE TOWARDS UNEXPLAINED INVESTMENT IN THE FORM OF M/S. VITAS CONSTRUCTIONS. 5. ANY OTHER GROUND OR GROUNDS THAT MAY BE URGED AT THE TIME OF HEARING. 3 . AT THE TIME OF HEARING IT HAS BEEN BROUGHT TO OUR NOTICE THAT AS PER THE CBDT CIRCULARS NO.03/2018 DATED 11.07.2018 AND CIRCULAR NO.17 OF 2019 DATED 9 TH AUGUST, 2019, THE TAX LIMIT FOR FILING APPEAL BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN FIXED AT RS.50.00 LAKHS AND ABOVE. THEREFORE, SINCE THE TAX EFFECT IN THE PRESENT APPEAL BEFORE US IS LESS THAN RS.50.00 LAKH, WE HEREBY DISMISS THE SAME WITH LIBERTY TO THE REVENUE TO SEEK RECALL OF THE ORDER, IF THE APPEAL FALLS WITHIN THE EXCEPTIONS MENTIONED IN THE CIRCULARS OF THE CBDT. 4 . IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THE 01 ST OCTOBER , 2019. SD/ - SD/ - (P. MADHAVI DEVI) ( A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD, DATED : 01 ST OCTOBER , 2019 OKK COPY TO: - 3 1) SHRI SYED ANEESUDDIN, D.NO.12 - 2 - 830/34, ALAPATI NAGAR, MEHDIPATNAM, HYDERABAD. 2) ITO, WARD - 7(1), 2 ND FLOOR, B BLOCK, IT TOWERS , HYDERABAD. 3) THE CIT(A) - VI , HYDERABAD 4) THE PR. CIT - VI , HYDERABAD 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE