ACIT,Central Circle -5, Hyderabad V. Uttam Chand Jain, Secunderabad

ITA 1531/HYD/2013

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 2556 (ITAT-HYDERABAD)
• Duration Of Justice: 3 year(s) 5 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-04-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 26-04-2017
• Assessment Year: 2009-2010
• Appeal Filed On: 19-11-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K J RAO
• Assessee Lawyers: S RAMA RAO
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B, HYDERABAD BEFORE SHRI D. MANMOAHN, VICE PRESIDENT AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA NO. 1531/HYD/2013 ASSESSMENT YEAR: 2009-10 ASST. COMMISSIONER OF INCOME- TAX, CENTRAL CIRCLE 3, HYDERABAD. VS. SHRI UTTAM CHAND JAIN, SECUNDERABAD. PAN ABCPN 2423 K (APPELLANT) (RESPONDENT) REVENUE BY : SHRI K.J. RAO ASSESSEE BY : SHRI S. RAMA RAO DATE OF HEARING 26-04-2017 DATE OF PRONOUNCEMENT 26 -04-2017 O R D E R PER S. RIFAUR RAHMAN, A.M.: THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST TH E ORDER OF THE LEARNED COMMISSIONER OF INCOME-TAX(APPEALS) I , HYDERABAD, DATED 13 TH SEPTEMBER, 2013, FOR THE AY 2009-10. 2. AT THE TIME OF HEARING, THE LD. COUNSEL FOR THE ASSESSEE, SHRI S. RAMA RAO SUBMITTED THAT THE TAX EFFECT IN THIS APP EAL 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, 2015. THIS CIRCULAR REGARDING THE PECUNIARY LIMIT FOR PREFERRI NG THE APPEAL BEFORE THE ITAT BY THE REVENUE HAS NOW STATUTORY FORCE UND ER SEC. 268A OF THE INCOME-TAX ACT, 1961. ON GOING THROUGH THE ASSE SSMENT ORDER, WE FIND THAT THE TOTAL INCOME ASSESSED BY THE A.O. IS AT RS. 1,00,87,452/- AND THE TAX EFFECT INVOLVED IN THIS A PPEAL FILED BY THE REVENUE IS LESS THAN RS. 10 LAKHS AND THIS POSITION HAS NOT BEEN 2 ITA NO. 1531 /HYD/2013 SHRI UTTAM CHAND JAIN DISPUTED BY THE LEARNED DR. THEREFORE, WE ARE SATI SFIED THAT THE TAX EFFECT IN THIS APPEAL IS LESS THAN RS.10 LAKHS. 3. THE CBDT VIDE CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015 HAS FIXED THE MONETARY LIMIT FOR FILING OF APPEALS BEFORE THE TRIBUNAL, HONBLE HIGH COURT AND HONBLE SUPREME COURT RESPEC TIVELY. THE MONETARY LIMIT FIXED FOR FILING OF APPEAL BEFORE TH E TRIBUNAL IS RS.10 LAKHS AND IT IS ALSO CLARIFIED THAT THE TAX EFFECT MEANS THE DIFFERENCE BETWEEN THE TAX ON THE TOTAL INCOME ASSESSED AND TH E TAX THAT WOULD HAVE BEEN CHARGEABLE ON SUCH TOTAL INCOME BEING RED UCED BY THE AMOUNT OF INCOME IN RESPECT OF THE ISSUES AGAINST W HICH, APPEAL IS INTENDED TO BE FILED 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 DE PARTMENT TO EITHER WITHDRAW OR NOT PRESS THE APPEALS BELOW THE SPECIFI ED TAX LIMITS. DULY TAKING NOTE OF THE CBDT CIRCULAR NO.21/2015 DATED 1 0 TH DECEMBER, 2015, WE DISMISS THE APPEAL OF THE REVENUE WITH THE LIBERTY TO THE REVENUE TO SEEK RECALL OF THIS ORDER IF THIS CASE F ALLS WITHIN ANY OF THE EXCEPTIONS TO THE CBDT CIRCULAR MENTIONED THEREIN. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISS ED. PRONOUNCED IN THE OPEN COURT ON 26 TH APRIL, 2017. SD/- SD/- (D. MANMOHAN) (S. RIFAUR RAHMAN) VICE PRESIDENT AC COUNTANT MEMBER HYDERABAD, DATED: 26 TH APRIL, 2017 KV 3 ITA NO. 1531 /HYD/2013 SHRI UTTAM CHAND JAIN COPY TO:- 1) ACIT, CENTRAL CIRCLE 8 TH FLOOR, AAYAKAR BHAVAN, LB STADIUM ROAD, BASHEERBAGH, HYDERABAD 500 004. 2) SHRI UTTAM CHAND JAIN, PROP. UTTAM SILVER PALANC E, 7-2-342, SECUNDERABAD. 3 CIT(A) - I, HYDERABAD 4) CIT (CENTRAL), HYDERABAD 5) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDE RABAD. 6) GUARD FILE