ITO(TDS), TDS Ward-2(1), Hyd, Hyderabad V. Prasad Film Laboratories Pvt.Ltd., Hyd, Hyderabad

ITA 1350/HYD/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 6015 (ITAT-HYDERABAD)
• Duration Of Justice: 2 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2003-2004
• Appeal Filed On: 07-12-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M SITARAM
• Assessee Lawyers: V SIVA KUMAR
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA.NO.1350/HYD/2015 ASSESSMENT YEAR 2003-2004 THE INCOME TAX OFFICER, (TDS), WARD-2(1), HYDERABAD. VS., M/S. PRASAD FILM LABORATORIES P. LTD., HYDERABAD 500 034. PAN AABCP2280P (APPELLANT) (RESPONDENT) FOR REVENUE : MR. M. SITARAM FOR ASSESSEE : MR. V. SIVAKUMAR DATE OF HEARING : 2 4.02.2016 DATE OF PRONOUNCEMENT : 2 4.02.2016 ORDER PER SMT. P. MADHAVI DEVI, J.M. THIS IS REVENUES APPEAL FOR THE A.Y. 2003-04. IN THIS APPEAL, THE REVENUE IS AGGRIEVED BY THE ORDER OF THE LD. CIT(A)-8, HYDERABAD DATED 23.09.2015. 2. AT THE TIME OF HEARING, THE LD. D.R. MR. M. SITARAM, SUBMITTED THAT THE TAX EFFECT IN THIS APPEAL IS LESS THAN RS. 10 LAKHS AND THEREFORE, REVENUES APPEAL IS LIABLE TO BE DISMISSED IN VIEW OF CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2 ITA.NO.1350/H/2015 M/S. PRASAD FILM LABORATORIES P. LTD., HYDERABAD. 2015, WHICH FACT IS CONFIRMED BY THE LD. COUNSEL FOR THE ASSESSEE. 3. ON PERUSAL OF THE CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE FIND THAT THE CBDT HAS FIXED THE MONETARY LIMIT FOR FILI NG OF APPEALS BEFORE THE TRIBUNAL, HONBLE HIGH COURT AND HONBLE SUPREME COURT RESPECTIVELY. THE MONETARY LIMIT FIXED FOR FILING OF APPEAL BEFORE TH E TRIBUNAL IS RS.10 LAKHS AND IT IS ALSO CLARIFIED TH AT THE TAX EFFECT MEANS THE DIFFERENCE BETWEEN THE TAX ON THE TOTAL INCOME ASSESSED AND THE TAX THAT WOULD HAVE BEEN CHARGEABLE ON SUCH TOTAL INCOME BEING REDUCED BY THE AMOUNT OF INCOME IN RESPECT OF THE ISSUES AGAINST WHICH, APPEAL IS INTENDED TO BE FILE D AND ALSO THAT THE TAX WILL NOT INCLUDE ANY INTEREST THEREON, EXCEPT WHERE CHARGEABILITY OF INTEREST ITS ELF IS IN DISPUTE. PARA-10 OF THE INSTRUCTION ALSO CLARIFIES THAT THE INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO B E FILED HENCEFORTH IN THE HIGH COURTS/ TRIBUNAL AND HAS DIRECTED THE DEPARTMENT TO EITHER WITHDRAW OR NOT PRESS THE APPEALS BELOW THE SPECIFIED TAX LIMIT S. DULY TAKING NOTE OF THE CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE DISMISS THE APPEAL OF THE REVENUE WITH LIBERTY TO THE REVENUE TO SEEK 3 ITA.NO.1350/H/2015 M/S. PRASAD FILM LABORATORIES P. LTD., HYDERABAD. RECALL OF THIS ORDER, IF THIS APPEAL FALLS WITHIN A NY OF THE EXCEPTIONS PROVIDED IN THE CIRCULAR. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 24.02.2016. SD/- SD/- (S. RIFAUR RAHMAN) (SMT. P. MADHAVI DEVI) ACOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED 24 TH FEBRUARY, 2016 VBP/- COPY TO 1. THE INCOME TAX OFFICER (TDS), WARD - 2(1), O/O. THE JOINT COMMISSIONER OF INCOME TAX (TDS), WARD-2, 4 TH FLOOR, D BLOCK, I.T. TOWERS, A.C. GUARDS, HYDERABAD. 2. M/S. PRASAD FILM LABORATORIES P. LTD., ROAD NO.2, BANJARA HILLS, HYDERABAD 500 034. 3. CIT(A) - 8 , HYDERABAD. 4. CIT - (TDS) , HYDERABAD. 5. D.R. I.T.A.T. A BENCH, HYDERABAD. 6. GUARD FILE