ITO, Ward-16(2), Hyderabad, Hyderabad V. Padma Vamsi Textile Market Pvt. Ltd., Hyderabad, Hyderabad

ITA 1457/HYD/2016

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6342 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 5 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-04-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-B
• Next Hearing Date: 16-04-2019
• Assessment Year: 2012-2013
• Appeal Filed On: 28-10-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KOMALI KRISHNA
• Assessee Lawyers: B SATYANARAYANA MURTHY
• Keywords: Tax effect

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B , HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA NO. 1457 /HYD/201 6 ASSESSMENT YEAR: 2012 - 13 INCOME - TAX OFFICER, WARD 1 6 ( 2 ), HYDERABAD. VS. PADMA VAMSI TEXTILE MARKET PVT. LTD., HYDERABAD. PAN AADCP 3957F (APPELLANT) (RESPONDENT) REVENUE BY : S MT. KOMALI KRISHNA ASSESSEE BY : SHRI B. SATYANARAYANA MURTHY DATE OF HEARING : 2 3 - 0 4 - 201 9 DATE OF PRONOUNCEMENT : 26 - 0 4 - 201 9 O R D E R PER S. RIFAUR RAHMAN, A.M : T H IS APPEAL OF THE REVENUE IS DIRECTED AGAINST THE ORDER OF CIT(A) 4 , HYDERABAD, DATED 02 /0 8 /201 6 FOR AY 2012 - 13 . 2. IT IS STATED BEFORE US THAT THE TAX EFFECT IN TH IS APPEAL IS LESS THAN RS. 20 LAKHS AND THEREFORE T HE 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 VARIOUS HIGH COURTS AS WELL AS APEX COURT ARE REVISED WITH AN OBJECT OF THE REDUCING THE TAX LITIGATION. VIDE PARA 3 OF THE SAID CIRCULAR (SUPRA) IS STATED THAT IN CASES WHERE THE TAX EFFECT IN THE APPEALS TO BE FILED BEFORE THE APPELLATE TRIBUNAL DO ES NOT EXCEED RS. 20 LAKHS APPEALS SHOULD NOT BE FILED. THUS TAKING A NOTE OF CBDT CIRCULAR NO. 03/2018, DATED 11.07.2018 AND CONSIDERING THE FACT THAT THE TAX EFFECT IN THE INSTANT APPEAL S ARE LESS THAN RS. 20 LAKHS, THE PRESENT APPEAL DESERVE S TO BE DIS MISSED AS NOT PRESSED / NOT MAINTAINABLE. HOWEVER, WE MAKE IT CLEAR THAT THE 2 ITA NO. 1457 /HYD/201 6 PADMA VAMSI TEXTILE MARKET PVT. LTD . ISSUES RAISED IN THE INSTANT APPEAL IS LEFT OPEN TO BE EXAMINED IN THE APPROPRIATE PROCEEDINGS, IF ARISES, IN FUTURE. AT THE SAME TIME , WE ALSO MAKE IT CLEAR THAT IF THE APPEAL FALLS IN ANY OF THE EXCEPTIONS REFERRED TO IN THE ABOVE SAID CBDT CIRCULAR, THE REVENUE IS AT LIBERTY TO MOVE AN APPLICATION FOR RECALLING THE ORDER, IF SO, ADVISED. 3. ACCORDINGLY, IN THE LIGHT OF CBDT CIRCULAR NO. 03/2018 DATED 11.07.2018 , THE APPEAL ST AND S DISMISSED. PRONOUNCED IN THE OPEN COURT ON 26 TH APRIL , 201 9 . SD/ - SD/ - ( P. MADHAVI DEVI ) (S. RIFAUR RAHMAN) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD, DATED: 26 TH APRIL, 201 9 . KV COPY TO: - 1) ITO, WARD 16(2), ROOM NO. 229, BLOCK B, 2 ND FLOOR, IT TOWERS, AC GUARDS, HYDERABAD 500 004 2) M/S PADMA VAMSI TEXTILE MARKET PVT. LTD., 11 - 7 - 145/A, MAIN ROAD, KOTHAPET X ROAD, SAROOR NAGAR, HYD. 3) CIT(A) 4 , HYDERABAD. 4) PR. CIT 4, HYD . 5 ) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDERABAD. 6 ) GUARD FILE