ACIT, Circle-8(1), Hyd, Hyderabad V. B. Srinivas Reddy, Hyderabad, Hyderabad

ITA 1640/HYD/2016

• Counselvise Citation: [2018] 122 COUNSELVISE.COM (IT) 2638 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 10 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 03-10-2018
• Assessment Year: 2008-2009
• Appeal Filed On: 05-12-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S PRAVEENA
• Assessee Lawyers: B SANTHI KUMAR
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA NO.1640/HYD/2016 ASSESSMENT YEAR: 2008 - 09 ACIT, CIRCLE - 8(1), HYDERABAD. VS. B. SRINIVAS REDDY, HYDERABAD. PAN: AEBPB 8170 M (APPELLANT) (RESPONDENT) ASSESSEE BY: SRI B. SANTHI KUMAR REVENUE BY: SMT. S. PRAVEENA, DR DATE OF HEARING: 03.10.2018 DATE OF PRONOUNCEMENT: 10 .10.2018 ORDER PER SMT. P. MADHAVI DEVI, J.M.: THIS IS REVENUES APPEAL FOR THE ASSESSMENT YEAR 2008 - 09 AGAINST THE ORDER OF CIT (A) - 2, HYDERABAD DATED 25.07.2016 DELETING THE PENALTY LEVIED BY THE A.O. U/S 271(1)(C) OF THE ACT. 2. AT THE TIME OF HEARING, LEARNED DEPARTMENTAL REPRESENTATIVE S UBMITTED THAT THE A.O HAD LEVIED THE PENALTY OF RS. 13,43,964/ - AND THEREFORE, THE TAX EFFECT IN THIS APPEAL IS LESS THAN RS. 20 LAKHS. THE CBDT VIDE ITS CIRCULAR NO.3/2018 DATED 11.07.2018 HAS DIRECTED THE REVENUE TO WITHDRAW THE APPEALS BEFORE THE TRIBU NAL WHERE THE TAX EFFECT IS LESS THAN RS. 20 LAKHS. LEARNED DEPARTMENTAL REPRESENTATIVE ACCORDINGLY SOUGHT PERMISSION OF THE BENCH TO WITHDRAW THE APPEAL OF THE REVENUE. 2 3. CONSIDERING THE LOW TAX EFFECT INVOLVED IN THE CASE, THE REVENUES APPEAL IS DISMISSED AS WITHDRAWN WITH A LIBERTY TO FILE A MISCELLANEOUS APPLICATION FOR RECALL OF THE ORDER IF THE CASE FALLS UNDER ANY OF THE EXCEPTIONS SET OUT IN THE SAID BOARDS CIRCULAR (SUPRA) . 4. IN THE RESULT, REVENUES APEPALS IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 10 TH OCTOBER, 2018. SD/ - SD/ - (S. RIFAUR RAHMAN) (P. MADHAVI DEVI) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED: 10 TH OCTOBER, 2018 OKK COPY TO: - 1) SRI M/S. B. SRINIVAS REDDY, 1 - 2 - 148, ATTAPPUR RAJENDRA NAGAR, HYDERABAD. 2) THE ACIT, CIRCLE - 8(1), 6 TH FLOOR, SIGNATURE TOWERS, KONDAPUR, HYDERABAD. 3) THE CIT(A) - 2, HYDERABAD 4) THE PR. CIT - 2, HYDERABAD 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE