ACIT., Circle-16(2), Hyderabad, Hyderabad V. M/s Ogene Systems India Private Limited, Hyderabad

ITA 1716/HYD/2014

• Counselvise Citation: 171622514 RSA 2014
• Duration Of Justice: 4 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-03-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 19-03-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 10-11-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAMAKRISHNA BANDI
• Assessee Lawyers: P MURALI MOHAN RAO
• Keywords: Depreciation; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A', HYDERABAD BEFORE SHRI P.M.JAGTAP, ACCOUNTANT MEMBER AND SMT.ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER ITA NO.1716/HYD/14 : ASSESSMENT YEAR 2007 - 08 ASST. COMMISSIONER OF INCOME - TAX CIRCLE 16(2), HYDERABAD V/S. M/S. OGENE SYSTEMS INDIA PVT. LTD., HYDERABAD (PAN AAACO 7056 R) (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI RAMAKRISHNA BANDI DR RESPONDENT BY : SHRI P.MURALIMOHAN RAO DATE OF HEARING 19.3.2015 DATE OF PRONOUNCEMENT 19.3.2015 O R D E R PER P.M.JAGTAP, ACCOUNTANT MEMBER : TH IS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME - TAX(APPEALS) V, HYDERABAD DATED 30 TH JUNE, 2014, WHEREBY HE DELETED THE ADDITIONS OF RS.2,60,369 AND RS.7,63,621 MADE BY THE ASSESSING OFFICER ON ACCOUNT OF DISALLOWANCE OF DEPRECIATION AND DISALLOWANCE OF 50% OF THE EXPENSES RESPECTIVELY. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AND ALSO PERUSED THE RELEVANT MATERIAL ON RECORDS. AS SUBMITTED BY THE LEARNED COUNSEL FOR THE ASSESSEE, AT THE OUTSET, THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LESS THAN THE MONETARY LIMIT OF RS.4 LAKHS PRESCRIBED BY THE CBDT FOR FILING THE APPEALS BY THE REVENUE BEFORE THE TRIBUNAL, VIDE INSTRUCTION NO.5 OF 2014 ISSUED ON 10 TH JULY, 2014, AND THE SAME, THEREFORE, IS NOT MAINTAINABLE. I TA NO. 16 17 /H YD/20 14 M/S. OGENE SYSTEMS INDIA PVT. LTD., HYDERABAD 2 KEEPING IN VIEW THIS FACTUAL POSITION, WHICH IS NOT DISPUTED EVEN BY THE LEARNED DEPARTMENTAL REPRESEN TATIVE, WE HOLD THAT THE PRESENT APPEAL FILED BY THE DEPARTMENT INVOLVING A TAX EFFECT OF LESS THAN THE MONETARY LIMIT OF RS.4 LAKHS FIXED BY THE CBDT IN ITS INSTRUCTION NO.5 OF 2014 DATED 10 TH JULY, 2014 FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL, IS NOT MAINTAINABLE. THE SAME IS ACCORDINGLY DISMISSED. 3. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE COURT AT THE CONCLUSION OF HEARING ON THE APPEAL ON 19 RD MARCH, 2015 SD/ - SD/ - ( ASHA VIJAYARAGHAVAN ) ( P.M.JAGTAP ) JUDICIAL MEMBER ACCOUNTANT MEMBER D T/ - 19 TH MARCH, 201 5 COPY FORWARDED TO: 1. M/S. OGENE SYSTEMS INDIA PVT. LTD., 11 - 6/56, MOOSAPET VILLAGE, KUKATPALLY, HYDERABAD 500 072. 2 . DY. COMMISSIONER OF INCOME - TAX CIRCLE 16 ( 2 ) HYDERABAD 3. COMMISSIONER OF INCOME - TAX(APPEALS) V HYDERABAD 4. COMMISSIONER OF INCOME - TAX I V , HYDERABAD 5. DEPARTMENTAL REPRESENTATIVE, ITAT, HYDERABAD. B.V.S