ACIT., Circle-16(2), Hyderabad, Hyderabad V. M/s M S Agarwal Foundries Private Limited, Hyderabad

ITA 1603/HYD/2014

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 5153 (ITAT-HYDERABAD)
• Duration Of Justice: 5 year(s) 4 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-02-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 30-01-2020
• Assessment Year: 2010-2011
• Appeal Filed On: 16-10-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER I.T.A. NO. 1603/HYD/2014 ASSESSMENT YEAR: 2010-11 ASST. COMMISSIONER OF INCOME TAX, CIRCLE-16(2), HYDERABAD VS M/S. M.S.AGARWAL FOUNDRIES PVT. LTD., SECUNDERABAD [PAN: AAICS4832K] (APPELLANT) (RESPONDENT) FOR REVENUE : SHRI SOLGY JOSE T.KOTTARAM, DR FOR ASSESSEE : SHRI SUNIL KUMAR JAIN, AR DATE OF HEARING : 30-01-2020 DATE OF PRONOUNCEMENT : 19-02-2020 O R D E R PER SMT. P. MADHAVI DEVI, J.M. : THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)V, HYDERABAD, DATED 07-04-2014 FOR THE AY.2010-11. 2. AT THE TIME OF HEARING, IT HAS BEEN BROUGHT TO OUR NOTI CE THAT AS PER THE CBDT CIRCULAR NO.03/2018 DATED 11-07-2 018 AND CIRCULAR NO.17 OF 2019 DATED 8 TH AUGUST, 2019, THE TAX LIMIT FOR FILING OF APPEAL BY THE REVENUE BEFORE THE T RIBUNAL HAS BEEN FIXED AT RS.50 LAKHS. ITA NO. 1603/HYD/2014 :- 2 -: 3. AFTER HEARING BOTH THE SIDES AND PERUSING THE RECOR DS AS PLACED BEFORE US, WE FOUND THAT THIS 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 AS APP ARENTLY THE CASE IS NOT COVERED BY ANY OF THE EXCEPTIONS IN THE CIRCULAR. HOWEVER, THE REVENUE IS AT LIBERTY TO SEEK R ECALL OF THE ORDER, IF THIS CASE IS FOUND TO BE FALLING WITHIN TH E EXCEPTIONS MENTIONED IN THE CIRCULARS CITED ABOVE. 4. IN THE RESULT, THE APPEAL FILED BY REVENUE IS DISMI SSED. ORDER PRONOUNCED IN THE OPEN COURT ON 19 TH FEBRUARY, 2020 SD/- SD/- ( A. MOHAN ALANKAMONY ) ( P. MADHAVI DEVI ) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED: 19-02-2020 TNMM ITA NO. 1603/HYD/2014 :- 3 -: COPY TO : 1. DY.COMMISSIONER OF INCOME TAX, CIRCLE-16(2), HYDERABAD. 2. M/S. M.S.AGARWAL FOUNDRIES PVT. LIMITED, 2-1-113 , TOBACCO BAZAR, SECUNDERABAD. 3. CIT(APPEALS)-V, HYDERABAD. 4. THE CIT-1, HYDERABAD. 5. D.R. ITAT, HYDERABAD. 6. GUARD FILE.