DCIT., Circle-3(2), Hyderabad, Hyderabad V. M/s Sri Vinayaka Paper & Boards Limited, Hyderabad

ITA 1966/HYD/2014

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 6451 (ITAT-HYDERABAD)
• Duration Of Justice: 3 year(s) 6 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 27-11-2018
• Assessment Year: 2010-2011
• Appeal Filed On: 31-12-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P V SUBBA RAJU
• Assessee Lawyers: P MURALI MOHAN RAO
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A , HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA NO. 1 966 /HYD/201 4 ASSESSMENT YEAR: 20 10 - 11 DY. COMMISSIONER OF INCOME - TAX, CIRCLE 3(2), HYDERABAD. VS. M/S SRI VINAY A KA PAPER & BOARDS LTD., HYDERABAD. PAN AAECS 6961K ( APPELLANT ) (RESPONDENT) REVENUE BY : SHRI P.V. SUBBA RAJU ASSESSEE BY : SHRI P. MURALI MOHAN RAO DATE OF HEARING 1 6 / 0 7 /2018 DATE OF PRONOUNCEMENT 27 / 0 7 / 201 8 O R D E R PER S . RIFAUR RAHMAN , A .M. : T H IS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 1 6 / 1 0 / 201 4 OF CIT(A) II , HYDERABAD FOR AY 20 10 - 11. 2. IT IS STATED BEFORE US THAT THE TAX EFFECT IN TH IS APPEAL IS LESS THAN RS. 20 LAKHS AND THEREFORE THE CIRCULAR NO. 3/2018 DATED 11.07.2018 ISSUED BY THE CENTRAL BOARD OF DIREC T TAXES (CBDT) IN EXERCISE OF ITS POWER VESTED UNDER SEC. 268A(1) OF THE I . T . ACT COMES INTO PLAY , WHEREIN, THE MONETARY LIMIT FOR FILING THE APPEALS BY THE REVENUE BEFORE THE ITAT AND VARIOUS HIGH COURTS AS WELL AS APEX COURT ARE REVISED WITH AN OBJECT OF REDUCING THE TAX LITIGATION. VIDE PARA 3 OF THE SAID CIRCULAR (SUPRA) IS STATED THAT IN CASES WHERE THE TAX EFFECT IN THE APPEALS TO BE FILED BEFORE THE APPELLATE TRIBUNAL DOES NOT EXCEED RS. 20 LAKHS APPEALS SHOULD NOT BE FILED. THUS TAKING A NOTE OF CBDT CIRCULAR NO. 03/2018, DATED 11.07.2018 AND CONSIDERING THE FACT THAT THE TAX EFFECT IN THE INSTANT APPEALS IS LESS 2 ITA NO. 1966 /HYD/1 4 M/S SRI VINAYAKA PAPER & BOARDS LTD., HYD . THAN RS. 20 LAKHS, THE PRESENT APPEAL DESERVE S TO BE DISMISSED AS NOT PRESSED / NOT MAINTAINABLE. HOWEVER, WE MAKE IT CLEAR THAT THE ISSUES RAISED IN THE INSTANT APPEAL IS LEFT OPEN TO BE EXAMINED IN THE APPROPRIATE PROCEEDINGS, IF ARISES, IN FUTURE. AT THE SAME TIME WE ALSO MAKE IT CLEAR THAT IF THE APPEAL FALL S IN ANY OF THE EXCEPTIONS REFERRED TO IN THE ABOVE SAID CBDT CIRCULAR, TH E REVENUE IS AT LIBERTY TO MOVE AN APPLICATION FOR RECALLING THE ORDER , IF SO , ADVISED. 3. ACCORDINGLY IN THE LIGHT OF CBDT CIRCULAR NO. 03/2018 DATED 11.07.2018 THE APPEAL STAND S DISMISSED. PRONOUNCED IN THE OPEN COURT ON 27 TH JULY, 2018 . SD/ - SD/ - ( P. MADHAVI DEVI ) (S . RIFAUR RAHMAN ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD, DATED: 27 TH JU LY , 2018 KV C OPY TO: - 1) DCI T, CIRCLE 3(2), 7 TH FLOOR, B BLOCK, IT TOWERS, AC GUARDS, HYDERABAD . 2) M/S SRI VINAYAKA PAPER & BOARDS LTD., 404A, CONCOURSE, 7 - 1 - 58, GREENLANDS ROAD, AMEERPET, HYDERABAD 500 016 3) CIT(A) II HYDERABAD. 4) CIT - III , HYD. 5 ) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDERABAD. 6 ) GUARD FILE