Appeal details
Counselvise Citation
[2010] 136 COUNSELVISE.COM (IT) 0654 (ITAT-VISAKHAPATNAM)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
4 month(s) 1 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
21-06-2010
Appeal Filed By
Department
Order Result
Dismissed
Bench Allotted
DB
Next Hearing Date
-
Assessment Year
2006-2007
Appeal Filed On
19-02-2010
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE: SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI BR BASKARAN, ACCOUNTANT MEMBER ITA NO.116/VIZAG/2010 ASSESSMENT YEAR : 2006-07 DCIT, CIRCLE-5(1) VISAKHAPATNAM M/S. V.C. FERRO ALLOY VISAKHAPATNAM (APPELLANT) VS. (RESPONDENT) PAN NO.AAFFV 5484Q APPELLANT BY: SHRI G.S.S. GOPINATH, D.R. RESPONDENT BY: SHRI K.S.S. SHARMA, C.A. ORDER PER SHRI S.K. YADAV, JUDICIAL MEMBER:- THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 24.11.2009 PASSED BY THE CIT (A), VISAKHAPATNAM, AN D IT PERTAINS TO THE ASSESSMENT YEAR 2006-07. 2. BOTH THE PARTIES HAVE AGREED THAT THE REVENUE EF FECT IN EACH CASE IS LESS THAN RS.2,00,000/- AND AS SUCH THE SAME IS LIA BLE TO BE DISMISSED IN VIEW OF JUDGEMENT OF THE JURISDICTIONAL HIGH COURT IN TH E CASE OF C.I.T. VS A. RAJENDRA PRASAD (299 ITR 227) . IN THE SAID DECISION, HONBLE COURT HAS HELD THAT THE CBDT INSTRUCTIONS FIXING MONETARY LIMITS F OR FILING APPEALS ARE STATUTORY IN NATURE AS THEY WERE ISSUED BY THE CBDT IN EXERCISE OF POWERS UNDER SECTION 119 OF THE INCOME TAX ACT AND THE REVE NUE HAS TO NECESSARILY FOLLOW THEM AND IF A CASE FALLS UNDER ONE OF THE EX CEPTIONS PROVIDED IN THE CIRCULARS, A SPECIFIC GROUND SHOULD BE RAISED IN TH AT REGARD. ADMITTEDLY, THE REVENUE HAS NOT RAISED A SPECIFIC GROUND TO SHOW TH AT THE CASE FALLS WITHIN THE EXCEPTIONS PROVIDED IN THE CIRCULARS OF CBDT. 3. UNDER THE CIRCUMSTANCES, BY RESPECTFULLY FOLLOWI NG THE DECISION OF THE HONBLE ANDHRA PRADESH HIGH COURT CITED SUPRA, WE D ISMISS THE APPEAL AS UN- ADMITTED ON THE GROUND THAT IT IS CONTRARY TO THE P OLICY DECISION TAKEN BY THE CBDT. 2 PRONOUNCED IN THE OPEN COURT ON 21.6.2010 SD/- SD/- (BR BASKARAN) (SUNIL KUMAR YADAV) ACCOUNTANT MEMBER JUDICIAL MEMBER VG/SPS VISAKHAPATNAM, DATED 21 ST JUNE, 2010 COPY TO 1 THE DCIT, CIRCLE-5(1), VISAKHAPATNAM 2 M/S. V.C. FERRO ALLOY, PLOT NO.30A & B, AUTONAGAR , D-BLOCK, VISAKHAPATNAM 3 THE CIT, VISAKHAPATNAM 4 THE CIT(A), VISAKHAPATNAM 5 THE DR, ITAT, VISAKHAPATNAM. 6 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM
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