ITO, Ward-7(2), Hyderabad, Hyderabad V. B Balakrishna Goud, Hyderabad, Hyderabad

ITA 1619/HYD/2016

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 6034 (ITAT-HYDERABAD)
• Duration Of Justice: 3 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-03-2017
• Appeal Filed By: Department
• Bench Allotted: B
• Next Hearing Date: 14-03-2017
• Assessment Year: 2009-2010
• Appeal Filed On: 30-11-2016
• Court: TRIBUNAL
• Department Lawyers: K J RAO
• Assessee Lawyers: P RAVI SESHAGIRI RAO
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B (SMC), HYDERABAD BEFORE SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER I.T.A. NO. 1619/HYD/2016 ASSESSMENT YEAR: 2009-10 THE INCOME TAX OFFICER, WARD-7(2), HYDERABAD VS SRI B. BALAKRISHNA GOUD, HYDERABAD [PAN: AIEPB4695E] (APPELLANT) (RESPONDENT) FOR REVENUE : SHRI K.J. RAO, DR FOR ASSESSEE : SHRI P. RAVI SESHAGIRI RAO, AR DATE OF HEARING : 14-03-2017 DATE OF PRONOUNCEMENT : 17-03-2017 O R D E R THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-3, HYDERABAD. REVENUE IS AGGRIEVED ON THE RELIEF GRANTED BY CIT(A) DIRECTING E STIMATION OF INCOME AT 15% OF CASH DEPOSITS TREATED BY AO AS UNACC OUNTED CASH DEPOSITS. AT THE OUTSET, IT IS OBSERVED THAT THE TAX EF FECT INVOLVED IN THIS APPEAL IS BELOW RS.10 LAKHS. LD.CO UNSEL FOR ASSESSEE HAS FILED THE WORKING THAT TAX EFFECT INVOLVE D WAS ONLY RS.5,62,610/-. LD. DR ALSO FILED A COPY OF LETTER D T.13-03-17 BY AO SEEKING PERMISSION OF PR. CIT-3 VIDE TO WITHDRAW THE APPEAL, CONSEQUENT TO THE CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, BEARING F.NO.279/- MISC.142/2007-ITI(PT). 2. CBDT HAS SPECIFIED THAT WHERE THE TAX EFFECT DOES NO T EXCEED THE MONETARY LIMIT SPECIFIED THEREIN, THE CONCERNED AUTH ORITY HAS I.T.A. NO. 1619/HYD/2016 SRI B. BALAKRISHNA GOUD :- 2 - : TO WITHDRAW ITS APPEAL OR IT NEED NOT PRESS THE SAME. THE ABOVE CIRCULAR WAS SPECIFICALLY MADE APPLICABLE TO ALL PEN DING APPEALS AND ALSO TO APPEALS BEING FILED. IN THE PRESENT CASE , TAX EFFECT ON ACCOUNT OF THE RELIEF GRANTED BY THE CIT(A) WHICH LED TO THE FILING OF THE PRESENT APPEAL BY THE REVENUE, IS LESS THAN RS.10 LAKHS. 3. IN THE LIGHT OF THE CIRCULAR DATED 10-12-2015, ISS UED BY THE CBDT IN EXERCISE OF THE POWERS CONFERRED IN IT BY SU BSECTION (1) OF S.268A, I AM OF THE VIEW THAT THE APPEAL FILED HEREIN SHOULD NOT HAVE BEEN PREFERRED BY THE REVENUE. HAVING REGARD TO THE CIRCUMSTANCES OF THE CASE, I DISMISS THE APPEAL OF THE REVENUE AS INFRUCTUOUS/ WITHDRAWN/NOT PRESSED. ORDER PRONOUNCED IN THE OPEN COURT ON 17 TH MARCH, 2017 SD/- (B. RAMAKOTAIAH) ACCOUNTANT MEMBER HYDERABAD, DATED 17 TH MARCH, 2017 TNMM I.T.A. NO. 1619/HYD/2016 SRI B. BALAKRISHNA GOUD :- 3 - : COPY TO : 1. THE INCOME TAX OFFICER, WARD-7(2), HYDERABAD. 2. SRI B. BALAKRISHNA GOUD, H.NO. 13-6-437/A/49/3/B , INDIRA NAGAR, GOWLIGUDA, HYDERABAD. 3. COMMISSIONER OF INCOME TAX(APPEALS)-3, HYDERABAD . 4. THE PR. COMMISSIONER OF INCOME TAX-3, HYDERABAD. 5. D.R. ITAT, HYDERABAD. 6. GUARD FILE.