Income Tax Officer, Ward-7(2), Hyderabad V. Sanjay Vyas, Hyderabad

ITA 122/Hyd/2018

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 3654 (ITAT-HYDERABAD)
• Duration Of Justice: 7 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-08-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 14-08-2018
• Assessment Year: 2008-2009
• Appeal Filed On: 12-01-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NIRANJAN DEY
• Assessee Lawyers: M V JOSHI
• Keywords: Tax effect

Judgement Text

ITA NO 122 OF 2018 SANJAY VYAS HYDERABAD PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ITA NOS.122 TO 124/HYD/2018 (ASSESSMENT YEARS: 2008-09 TO 2010-11) INCOME TAX OFFICER WARD 7(2) HYDERABAD VS SHRI SANJAY VYAS HYDERABAD PAN: (APPELLANT) (RESPONDENT) FOR REVENUE : SHRI NIRANJAN DEY, DR FOR ASSESSEE : SHRI M.V. JOSHI O R D E R PER SMT. P. MADHAVI DEVI, J.M. THESE APPEALS FILED BY THE REVENUE ARE DIRECTED AGA INST THE ORDER OF THE CIT (A)-3, HYDERABAD, DATED 12.10. 2017, FOR THE A.YS 2008-09 TO 2010-11. 2. IT IS STATED BEFORE US THAT THE TAX EFFECT IN TH ESE APPEALS ARE LESS THAN RS.20 LAKHS AND THEREFORE THE CIRCULAR NO. 3/2018 DATED 11.07.2018 ISSUED BY THE CENTRAL BOARD OF DIRECT TAXES (CBDT) IN EXERCISE OF ITS POWER VESTED UNDER SEC. 268A(1) OF THE I.T. ACT COMES INTO PLAY, WHEREIN, THE MONETARY LIMIT FOR FILING THE APPEALS BY THE REVENUE BEFORE THE ITAT AND VARI OUS HIGH COURTS AS WELL AS APEX COURT ARE REVISED WITH AN OB JECT OF REDUCING THE TAX LITIGATION. VIDE PARA 3 OF THE SA ID CIRCULAR DATE OF HEARING: 14.08.2018 DATE OF PRONOUNCEMENT: 1 4 . 0 8 .2018 ITA NO 122 OF 2018 SANJAY VYAS HYDERABAD PAGE 2 OF 2 (SUPRA)IT IS STATED THAT IN CASES WHERE THE TAX EF FECT IN THE APPEALS TO BE FILED BEFORE THE APPELLATE TRIBUNAL DOES NOT EXCEED RS.20 LAKHS APPEALS SHOULD NOT BE FILED. THUS TAKING A N OTE OF CBDT CIRCULAR NO. 03/2018, DATED 11.07.2018 AND CONSIDER ING THE FACT THAT THE TAX EFFECT IN THE INSTANT APPEAL IS LESS T HAN RS.20 LAKHS, THE PRESENT APPEAL DESERVES TO BE DISMISSED AS NOT PRESSED NOT MAINTAINABLE. HOWEVER, WE MAKE IT CLEAR THAT THE I SSUES RAISED IN THE INSTANT APPEAL IS LEFT OPEN TO BE EXAMINED IN T HE APPROPRIATE PROCEEDINGS, IF ARISES, IN FUTURE. AT THE SAME TIM E WE ALSO MAKE IT CLEAR THAT IF THE APPEAL FALLS IN ANY OF THE EXCEPT IONS REFERRED TO IN THE ABOVE SAID CBDT CIRCULAR, THE REVENUE IS AT LIB ERTY TO MOVE AN APPLICATION FOR RECALLING THE ORDER, IF SO, ADVI SED. 3. ACCORDINGLY IN THE LIGHT OF CBDT CIRCULAR NO. 03 /2018 DATED 11.07.2018 THE APPEALS STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 14 TH AUGUST, 2018. SD/- SD/- (INTURI RAMA RAO) ACCOUNTANT MEMBER (P. MADHAVI DEVI) JUDICIAL MEMBER HYDERABAD, DATED 14 TH AUGUST, 2018. VINODAN/SPS COPY TO: 1 ITO WARD 7(2) ROOM NO.808, 8 TH FLOOR, SIGNATURE TOWERS, OPP: BOTANICAL GADENS, KONDAPUR, HYDERABAD 2 SHRI SANJAY VYAS, PROP: TIRUMALA TRADING COMPANY, H.NO.14-3- 168, SHAHINAYAT GUNJ, BEGUM BAZAR, HYDERABAD 3 CIT (A) - 3 , HYDERABAD 4 PR. CIT 3, HYDERABAD 5 THE DR, ITAT HYDER ABAD 6 GUARD FILE BY ORDER