Jt. Commissioner of Income Tax (OSD), Central Circle -1(3), Hyderabad V. Narayana Reddy Vakati, Hyderabad

ITA 1225/Hyd/2018

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 5705 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 10 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-04-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 04-03-2021
• Assessment Year: 2008-2009
• Appeal Filed On: 08-06-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NIVEDITA BISWAS
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI S.S.GODARA, JUDICIAL MEMBER I.T.A. NO. 1225/HYD/2018 ASSESSMENT YEAR: 2008-09 JT.COMMISSIONER OF INCOME TAX (OSD), CENTRAL CIRCLE-1(3), HYDERABAD VS SRI NARAYANA REDDY VAKATI, HYDERABAD [PAN: ABHPV6473G] (APPELLANT) (RESPONDENT) FOR REVENUE : SMT. NIVEDITA BISWAS, DR FOR ASSESSEE : NONE DATE OF HEARING : 04-03-2021 DATE OF PRONOUNCEMENT : 29-04-2021 O R D E R PER S.S.GODARA, J.M. : THIS REVENUES APPEAL FOR AY.2008-09 IS DIRECTED AGA INST THE CIT(A)11, HYDERABADS ORDER DATED 27-02-2018 PAS SED IN APPEAL NO.129 TO 134/2016-17/DCIT CC-1(3), HYD/17-18 . 2. AT THE TIME OF HEARING, IT HAS BEEN BROUGHT TO OUR NOTI CE THAT AS PER THE CBDT CIRCULAR NO.03 OF 2018 DATED 11-07-2018 AND CIRCULAR NO.17 OF 2019 DATED 8 TH AUGUST, 2019, THE TAX LIMIT FOR FILING OF APPEAL BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN FIXED AT RS.50 LAKHS WITH RETROSPE CTIVE EFFECT. ITA NO. 1225/HYD/2018 :- 2 -: 3. AFTER HEARING BOTH THE SIDES AND PERUSING THE RECOR DS AS PLACED BEFORE US, WE FOUND THAT THE APPEAL IS COVERED BY THE AFORESAID CIRCULAR AND IS, THEREFORE, NOT MAINTAINABLE . SINCE THE TAX EFFECT IN THIS APPEAL IS LESS THAN RS.50 LAKHS, WE ARE DISMISSING THE SAME ON ACCOUNT OF LOW TAX EFFECT. HOWE VER, THE REVENUE SHALL BE AT LIBERTY TO SEEK RECALL OF THE ORDE R, IF THIS CASE IS FOUND TO BE FALLING WITHIN THE EXCEPTIONS MENTI ONED IN THE CIRCULAR(S) CITED ABOVE. 4. THIS REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH APRIL, 2021 SD/- SD/- ( A. MOHAN ALANKAMONY ) ( S.S. GODAR A ) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED: 29-04-2021 TNMM ITA NO. 1225/HYD/2018 :- 3 -: COPY TO : 1.THE JT.COMMISSIONER OF INCOME TAX(OSD), CENTRAL C IRCLE- 1(3), HYDERABAD. 2.SRI NARAYANA REDDY VAKATI, 8-2-293/82/4/60/C, ROA D NO.12, MLA COLONY, HYDERABAD. 3.CIT(APPEALS)-11, HYDERABAD. 4.PR.CIT(CENTRAL)-HYDERABAD. 5.D.R. ITAT, HYDERABAD. 6.GUARD FILE.