Asst. CIT-3(1), Visakhapatnam V. LG Polymers India Pvt Ltd., Visakhapatnam

ITA 18/VIZ/2018

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 0291 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 1 year(s) 7 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-09-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 23-09-2019
• Assessment Year: 2009-2010
• Appeal Filed On: 13-02-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUMAN MALIK
• Assessee Lawyers: C V S MURTHY F
• Keywords: Tax effect
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI V. DURGA RAO , HONBLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH , HONBLE ACCOUNTANT MEMBER ITA NO. 18 / VIZ /201 8 (ASST. YEAR : 20 09 - 1 0 ) AC IT, CIRLCE - 3( 1 ) , VISAKHAPATNAM . V S . M/S. L.G. POLYMERS INDIA PVT. LTD., 7/01, R.R. VENKATAPURAM, VISAKHAPATNAM PAN NO. AAACL 8528 P (APPELLANT) (RESPONDENT) C.O.NO. 15/VIZ/2018 (ARISING OUT OF ITA NO. 18 / VIZ /201 8) (ASST. YEAR : 20 09 - 10 ) M/S. L.G. POLYMERS INDIA PVT. LTD., 7/01, R.R. VENKATAPURAM, VISAKHAPATNAM VS. ACIT, CIRLCE - 3(1), VISAKHAPATNAM. PAN NO. AAACL 8528 P (APP LICANT ) (RESPONDENT) ASSESSEE BY : SHRI C.V.S. MURTHY F C A. DEPARTMENT BY : SMT. SUMAN MALIK SR. DR DATE OF HEARING : 23 / 0 9 /201 9 . DATE OF PRONOUNCEMENT : 23 / 0 9 /201 9 . O R D E R PER V. DURGA RAO, JUDICIAL MEMBER TH IS APPEAL BY THE REVENUE AND CROSS OBJECTION BY THE ASSESSEE ARE DIRECTED AGAINST THE ORDER OF COMMISSIONER OF 2 ITA NO. 18/VIZ/2018 C.O.NO. 15/VIZ/2018 ( M/S. L.G. POLYMERS INDIA PVT. LTD. ) INCOME TAX (APPEALS) - 1 , VISAKHAPATNAM , DATED 20/11 /201 7 FOR THE ASSESSMENT YEAR 20 09 - 1 0 . 2. WHEN THIS APPEAL IS TAKEN UP FOR HEARING, LD.AR HAS SUBMITTED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS BELOW RS.50.00 LAKHS AND AS PER THE CBDT CIRCULAR NO. NO.17/2019 , DATED 0 8 /08/ 2019 , THIS APPEAL IS NOT MAINTAI NA BLE AND REQU ESTED FOR DISMISSAL OF THE SAME. 3 . ON THE OTHER HAND, LD.DR FAIRLY ACCEPTED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS BELOW RS. 50.00 LAKHS . 4 . IN VIEW OF THE CBDT CIRCULAR NO.17/2019, DATED 08/08/2019 , WHICH WAS FOLLOWED BY N OTIFICATION NO.279/MISC/M - 93/2018 - ITJ , DATED 20 / 08 / 2019 WHEREIN CLARIFIED THAT THE REVISED MONETARY LIMITS MENTIONED IN CIRCULAR NO.17/2019 ARE APPLICABLE TO ALL PENDING APPEALS ALSO , HENCE, THIS APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AND IS DISMISSED ACCORDINGLY. 5. SO FAR AS CROSS OBJECTION FILED BY THE ASSESSEE IS CONCERNED, IT IS ONLY SUPPORTIVE TO THE ORDER OF THE LD. CIT(A). AS NO GRIEVANCE AGAINST THE ORDER OF THE LD. CIT(A), THIS CROSS OBJECTION FILED BY THE ASSESSEE HAS BECOME INFRUCTUOUS AND IS DISMISSED ACCORDINGLY. 3 ITA NO. 18/VIZ/2018 C.O.NO. 15/VIZ/2018 ( M/S. L.G. POLYMERS INDIA PVT. LTD. ) 6. IN THE RESULT, APPEAL FILED BY THE REVENUE AND THE CROSS OBJECTION FILED BY THE ASSESSEE ARE DISMISSED . ORDER PRONOUNCED IN OPEN COURT ON TH IS 2 3 TH DAY OF SEP. , 201 9 . SD/ - SD/ - ( D.S. SUNDER SINGH ) ( V. DURGA RAO ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 2 3 TH SEPTEMBER , 201 9 . VR/ - COPY TO: 1. THE ASSESSEE M/S. L.G. POLYMERS INDIA PVT. LTD., 7/01, R.R. VENKATAPURAM, VISAKHAPATNAM . 2. THE REVENU - AC IT, CIRLCE - 3( 1 ) , VISAKHAPATNAM . 3. THE PR. CIT - 1 , VISAKHAPATNAM . 4. THE CIT(A) - 1 , VISAKHAPATNAM . 5. THE D.R . , VISAKHAPATNAM. 6. GUARD FILE. BY ORDER (VUKKEM RAMBABU) SR. PRIVATE SECRETARY, ITAT, VISAKHAPATNAM.