Income Tax Officer, Ward-2, Proddatur V. Vinayaka Transport , Yerraguntla

ITA 1957/Hyd/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 4992 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-10-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 12-10-2020
• Assessment Year: 2006-2007
• Appeal Filed On: 27-09-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH : HYDERABAD (THROUGH VIDEO CONFERENC E ) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO. 1957 /HYD./201 8 A.Y. 2006 - 07 THE I.T.O. WARD 2 VS. M/S VINAYAKA TRANSPORT PRODDATUR YERRAGUNTLA PAN: A AFFV5476Q (APPELLANT) (RESPONDENT) F OR REVENUE : SH. ALURU VENKATA RAO, D. R. FOR ASSESSEE : SH. S. RAMA RAO, ADV. DATE OF HEARING : 12/10/ 2020 DATE OF PRONOUNCEMENT 12/ 10 /2020 O R D E R PER SMT. P. MADHAVI DEVI, J.M. THIS IS REVENUES APPEAL AGAINST THE ORDER OF LD.CIT (A), KURNOOL DA TED 03.07.2018 FOR THE A.Y. 200 6 - 07 . THE APPEAL W AS TAKEN UP FOR HEARING THROUGH VIDEO CONFERENC E ON 12.10.2020 AND BOTH THE PARTIES WERE HEARD. 2. AT THE TIME OF HEARING, LD. COUNSEL FOR THE ASSESSEE POINTED OUT THAT THE TAX EFFECT IN REVENUES APPEAL IS LESS THAN THE MONETARY LIMIT OF RS.50,00,000/ - AS PRESCRIBED BY THE CBDT CIRCULAR NO.03/2018 DATED 11.7.2018 AND CIRCULAR NO.17/2019 DATED 08.08.2019. ITA NO. 1957/HYD/2018 AY 2006 - 07 ITO, WARD 2 VS. M/S VINA YAKA TRANSPORT 2 3. LD.DR CONFIRMED T HAT THE TAX EFFECT IS BELOW THE STATUTORY LIMIT OF RS.50,00,000/ - . 4 . THEREFORE, THE APPEAL OF THE REVENUE IS DISMISSED FOR LOW TAX EFFECT IN ACCORDANCE WITH THE CBDT CIRCULAR NO.03/2018 DATED 11.7.2018 AND CIRCULAR NO.17/2019 DATED 08.08.2019 WITH LIBE RTY TO SEEK RECALL OF THIS ORDER IF THIS CASE FALLS WITHIN ANY OF THE EXCEPTIONS TO THE CIRCULAR. 5. I N THE RESULT, REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED ON 12 TH OCTOBER, 2020. SD/ - SD/ - (A. MOHAN ALANKAMONY) (P. MADHAVI DEVI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 12 TH OCTOBER, 2020 . *GMV COPY FORWARDED TO: 1. M/S VINAYAKA TRANSPORT , 4 - 1040, NEW COLONY, YERRAGUNTLA 2. THE INCOME TAX OFFICER, WARD 2, PRODDATUR 3. CIT(A), KURNOOL 4. PR. CI T, KURNOOL . 5. DR, ITAT, HYDERABAD. 6 . GUARD FILE.