ACIT, Circle-2(2), Hyderabad, Hyderabad V. Green Fire Agri Commodities Ltd., Hyd, Hyderabad

ITA 263/Hyd/2015

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 5452 (ITAT-HYDERABAD)
• Duration Of Justice: 6 year(s) 6 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-09-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-B
• Next Hearing Date: 21-09-2021
• Assessment Year: 2010-2011
• Appeal Filed On: 16-03-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 143(3); 22

Judgement Text

ITA NO.263/HYD/2015 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD (THROUGH VIDEO CONFERENCING) BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ITA NO.263/HYD/2015 ASSESSMENT YEAR: 2010-11 THE ASST.COMMISSIONER OF INCOME TAX, CIRCLE 2(2), HYDERABAD. VS. M/S. GREEN FIRE AGRI COMMODITIES LTD., 8-2-334, 1 ST FLOOR, SDE SERENE CHAMBERS, ROAD NO.5, BANJARA HILLS, HYDERABAD. PAN NO.AABCN7753P. (APPELLANT) (RESPONDENT) REVENUE BY: SHRI ROHIT MUJUMDAR FOR SHRI Y.V.S.T. SAI, CIT-DR. ASSESSEE BY : SRI P.V.S.S. PRASAD AR. DATE OF HEARING: 21/09/2021 DATE OF PRONOUNCEMENT: 22/09/2021 ORDER PER INTURI RAMA RAO, A.M. 1. THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ASSESSMENT ORDER U/S 143(3) R.W.S. 92CA(4) R.W.S. 1 44C(13) OF THE INCOME TAX ACT, 1961 (THE ACT FOR SHORT) OF THE A SST. COMMISSIONER OF INCOME TAX, CIRCLE 2(2), HYDERABAD (THE ASSESSIN G OFFICER; FOR SHORT) DATED 27.01.2015 FOR A.Y. 2010-11 IN FURTHERANCE OF THE DISPUTE RESOLUTION PANEL, HYDERABADS DIRECTIONS DATED 13.1 1.2014 PASSED U/S 144C(5) OF THE I.T. ACT. ITA NO.263/HYD/2015 PAGE 2 OF 3 2. IT IS STATED BEFORE US THAT THE TAX EFFECT IN THE PRESENT APPEAL IS LESS THAN RS.50 LAKHS AND THEREFORE, THE CIRCULA R NO.17/2019 DATED 08.08.2019 ISSUED BY THE CENTRAL BOARD OF DIRECT TA XES (CBDT) IN EXERCISE OF ITS POWER VESTED UNDER SEC.268A(1) OF T HE IT ACT COMES INTO PLAY WHEREIN, THE MONETARY LIMIT FOR FILING THE APP EAL BY THE REVENUE BEFORE THE ITAT AND VARIOUS HIGH COURTS AS WELL AS APEX COURT ARE REVISED WITH AN OBJECT OF REDUCING THE TAX LITIGATI ON. VIDE PARA 3 OF THE SAID CIRCULAR (SUPRA) IT IS STATED THAT IN CASES WH ERE THE TAX EFFECT IN THE APPEALS TO BE FILED BEFORE THE APPELLATE TRIBUN AL DOES NOT EXCEED RS.50 LAKHS APPEALS SHOULD NOT BE FILED. THUS, TAK ING A NOTE OF CBDT CIRCULAR NO.17/2019, DATED 08.08.2019 AND CONSIDERI NG THE FACT THAT THE TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN R S.50 LAKHS, THE PRESENT APPEAL DESERVES TO BE DISMISSED AS NOT PRES SED / NOT MAINTAINABLE. HOWEVER, WE MAKE IT CLEAR THAT THE I SSUES RAISED IN THE INSTANT APPEAL ARE LEFT OPEN TO BE EXAMINED IN THE APPROPRIATE PROCEEDINGS, IF ARISES, IN FUTURE. AT THE SAME TIM E, WE ALSO MAKE IT CLEAR THAT IF THE APPEAL FALLS IN ANY OF THE EXCEPT IONS REFERRED TO IN THE ABOVE SAID CBDT CIRCULAR, THE REVENUE IS AT LIBERTY TO MOVE AN APPLICATION FOR RECALLING THE ORDER IF SO ADVISED. ACCORDINGLY, IN THE LIGHT OF CBDT CIRCULAR NO.17/2019 DATED 08/08/2019, THE APPEAL FILED BY THE REVENUE STANDS DISMISSED. 3. IN THE RESULT, THE APPEAL FILED BY THE REVENUE S TANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND SEPTEMBER,2021. SD/- SDSD/- SD/- SD/- - (S.S. GODARA) JUDICIAL MEMBER (INTURI RAMARAO) ACCOUNTANT MEMBER HYDERABAD, DATED 22 ND SEPTEMBER, 2021. TYNM / SPS ITA NO.263/HYD/2015 PAGE 3 OF 3 COPY TO: S. NO ADDRESS ES 1 M/S. GREEN FIRE AGRI COMMODITIES LTD., 8-2-334, 1 ST FLOOR, SDE SERENE CHAMBERS, ROAD NO.5, BANJARA HILLS, HYDE RABAD. 2 T HE A CIT, C IRCLE 2 (2) , HYDERABAD. 3 THE DRP., HYDERABAD 4 THE DIRECTOR OF INCOME TAX (IT & TP), HYDERABAD 5 THE ACIT (TP), HYDERABAD 6 DR, IT AT HYD ERABAD BEN CHES 7 GUARD FILE . BY ORDER