Dy. Commissioner of Income Tax , Circle-16(2), Hyderabad V. Agila Specialities Private Limited , Hyderabad

ITA 187/Hyd/2020

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 1455 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 4 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-06-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-B
• Assessment Year: 2012-2013
• Appeal Filed On: 10-02-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VINEET MOH AN
• Assessee Lawyers: B BALAKRISHNA
• Section: 143(3); 14A; 115JB; 201; 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD. BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI L . P . SAHU, ACCOUNTANT MEMBER (THROUGH VIRTUAL HEARING) ITA NO. 187 /HYD/20 20 (ASSESSMENT YEAR : 20 12 - 13 ) DY. COMMISSIONER OF INCOME TAX, CIRCLE 16(2), HYDERABAD. ..APPELLANT. VS. M/S.AGILA SPECIALITIES PVT. LTD., HYDERABAD. ..RESPONDENT. PAN AAACQ1091Q APPELLANT BY : SHRI VINEET MOH AN. RESPONDENT BY : SHRI B. BALAKRISHNA. (D.R.) DATE OF HEARING : 07.06. 2021. DATE OF PRONOUNCEMENT : 30 .0 6 .2021. O R D E R PER SHRI S.S. GODARA, J.M. : THIS ASSESSEES APPEAL FOR ASST. YEAR 201 2 - 13 ARISES FROM THE COMMISSIONER OF INCOME TAX (APPEALS) - 4 , HYDERABAD S ORDER DT. 18.11. 2019 PASSED IN CASE NO. 10361/18 - 19/DCIT, CIR - 16(2), HYD/ CIT(A) - 4/HYD/19 - 20 IN PROCEEDINGS UNDER SECTION 143(3) R.W.S. 263 OF INCOME TAX ACT, 1961 (THE ACT). HE ARD BOTH THE PARTIES . C ASE FILE PERUSED. 2 ITA NO. 187/HYD/2020 2. W E NOTICE AT THE OUTSET THAT INSTANT APPEAL INVOLVES 143(3) R.W.S.263 PROCEEDINGS WHEREIN THE PR.CIT REVISION ORDER DT.20.03.2018 ALREADY STAND REVERSED BY THIS TRIBUNALS CO - ORDINATE BENCH O N 30.10.2019. FACED WITH THIS SITUATION ONLY, THE LEARNED CIT(A) HOLDS THAT THIS LATTER ROUND CONSEQUENTIAL ASSESSMENT HAS NO LEGS TO STAND . T HE SAME STANDS CONFIRMED THEREFORE. 3. WE PROCEED FURTHER TO NOTICE THAT THE REVENUES SOLE SUBSTANTIVE GRIE VANCE SEEKING TO REVIVE 115JB MAT ADJUSTMENT OF RS.12,91,23,973 QUA 14A DISALLOWANCE ALSO STANDS DECIDED IN ASSESSEE'S FAVOUR IN THE TRIBUNALS SPECIAL BENCH DECISION IN ACIT VS. VINEET INVESTMENTS 82 TAXMAN.COM 415 (DEL) (SB). WE THUS DECLINE THE REVENUE S INSTANT APPEAL ON BOTH THE COUNTS IN ABOVE TERMS. 4. THIS REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 30TH JUNE , 2021. SD/ - SD/ - (L .P. SAHU) (S.S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DT. 30. 0 6 .2021. * REDDY GP 3 ITA NO. 187/HYD/2020 COPY TO : 1. M/S. AGILA SPECIALITIES PVT. LTD., PLOT NO.564/A/22, ROAD NO.92, JUBILEE HILLS, HYDERABAD - 96. 2. DCIT, CIRCLE 16(2), HYDERABD. 3. PR. C I T - 4 , HYDERABAD. 4. CIT(APPEALS) - 4, HYDERABAD. 5. DR, ITAT, HYDERABAD. 6. GUARD FILE. BY ORDER SR. PVT. SECRETARY, ITAT, HYDERABAD.