THE DCIT, Visakhapatnam V. Y.V . RAJASEKHAR BABU, Hyderabad

ITA 171/VIZ/2015

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 5914 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 5 year(s) 11 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-04-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2004-2005
• Appeal Filed On: 08-05-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: N GOPIKRISHNA LD
• Assessee Lawyers: PROXY OF SH KJD SRINIVAS LD
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI N.K. CHOUDHRY, HONBLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON'BLE ACCOUNTANT MEMBER ITA NO .170 /VIZ /20 15 ( ASSESSMENT YEAR: 2004 - 05 ) DY. COMMISSIONER OF INCOME TAX, CIRCLE - 3 (1), AAYAKAR BHAWAN, DABAGARDENS, VISHAKAPATNAM - 530020 VS. SH. T. NAGA PRASHAD, D. NO. 7 - 5 - 107, PANDURANGAPURAM, VISHAKAPATNAM [ PAN: ABXPT 9042 R] ITA NO . 171 /VIZ /20 15 ( ASSESSMENT YEAR: 2004 - 05 ) DY. COMMISSIONER OF INCOME TAX, CIRCLE - 3 (1), AAYAKAR BHAWAN, DABAGARDENS, VISHAKAPATNAM - 530020 VS. SH. Y.V. RAJASEKHAR BABU, G - 1, TRENDSET VANTAGE, BANJARA HILLS, ROAD NO. 14, HYDERABAD [PAN: AA NPY 1451 A ] (APPELLAN T ) (RESPONDENT S ) APPELL ANT BY : SH. N GOPIKRISHNA (LD. DR) RES PONDENTS BY: PROXY OF SH. KJD SRINIVAS (LD. CA) DATE OF HEARING: 21 - 0 4 - 2021 DATE OF PRONOUNCEMENT: 21 - 0 4 - 2021 ITA NO. 170 & 171 / VIZ /2015 (T.NAGA PRASHAD & ANOTHER) 2 ORDER PER: SH. N K CHOUDHRY, JUDICIAL MEMBER THE REVENUE DEPARTMENT HAS PREFERRED THESE TWO APPEALS AGAINST THE ORDERS DATED 27 - 02 - 2015 IMPUGNED HEREIN PASSED BY THE LD. CIT(A - 2 ) , VISHAKHAPATNAM IN THE CAPTIONED MATTERS U/S 250(6) OF THE ACT, 1961 (HEREINAFTER CALLED AS THE ACT) FOR THE ASSESSMENT YEAR 2004 - 05 . 2. AT THE OUTSET IT IS OBSERVED THAT TAX EFFECT INVOLVED IN THE APPEALS UNDER CONSIDERATION INDIVIDUALLY IS NEITHER MORE THAN 50 LACS, NOR THE CASES ARE BASED UPON ANY OF THE EXCEPTIONS PRESCRIBED IN CBDT CIRCULAR NO.17/2019, DATED 08.08.2019 READ WITH CIRCUL AR NO.03/2018, WHEREBY THE REVENUE DEPARTMENT IS PRECLUDED FROM FILING THE APPEALS(S) BEFORE APPELLATE TRIBUNAL AGAINST THE ORDER (S) OF CIT(A), IN WHICH THE TAX EFFECT DOES NOT EXCEED RS. 50,00,000/ - AS SPECIFIED IN THE CIRCULAR AND THE CBDT CLARIFICATIO N DATED 20 TH AUGUST 2019 WHEREBY IT IS CLARIFIED THAT REVISED MONETARY LIMITS SO MENTIONED IN THE CIRCULAR 17/2019 IS APPLICABLE TO ALL PENDING SLPS/APPEALS/CROSS OBJECTIONS/REFERENCES. HENCE THE INSTANT APPEALS ARE DISMISSED AS WITHDRAWN BEING NOT MAINTA INABLE. 3. HOWEVER THE LIBERTY IS GRANTED TO THE REVENUE DEPARTMENT TO SEEK RECALL OF THE ORDER, IN CASE IT REALIZE THAT THE CAPTIONED APPEAL ITA NO. 170 & 171 / VIZ /2015 (T.NAGA PRASHAD & ANOTHER) 3 FALLS WITHIN THE EXCEPTION AS PRESCRIBED IN CIRCULAR NO.17/2019 DATED 08 - 08 - 2019 (SUPRA) READ WITH CIRCULAR NO. 03/2018 (SUPRA) AND/OR HAVING INVOLVED THE TAX EFFECT MORE THAN RS. 50 LACS INDIVIDUALLY . 4 . IN THE RESULT, THE APPEALS FILED BY THE REVENUE DEPARTMENT STANDS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN OPEN COURT ON THIS 21 ST DAY OF APRIL, 2021. S D/ - SD/ - (D.S. SUND ER SINGH) (N.K. CHOUDHRY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 21 ST APRIL, 2021. VR/ - COPY FORWARDED TO: 1. THE APPELLANT A) SH. Y.V. RAJASEKHAR BABU B) SH. T. NAGA PRASHAD 2. THE RESPONDENT - DY. COMMISSIONER OF INCOME TAX, CIRCLE - 3 (1), AAYAKAR BHAWAN, DABAGARDENS, VISHAKAPATNAM - 530020 3. THE CIT - 2, VISAKHAPATNAM . 4. THE CIT(APPEALS) - 2, VISAKHAPATNAM . 5. SR. DR, I.T.A.T. VISHAKHAPATNAM 6. GUARD FILE TRUE COPY BY ORDER SR.PRIVATE SECRETARY, ITAT , V IZAG.