ACIT, Cirlce-16(2), Hyd, Hyderabad V. Saint Gobain Vetrotex India Ltd., Hyd, Hyderabad

ITA 282/Hyd/2016

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 5666 (ITAT-HYDERABAD)
• Duration Of Justice: 5 year(s) 6 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-09-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 06-09-2021
• Assessment Year: 2002-2003
• Appeal Filed On: 11-03-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S SRINIVAS
• Assessee Lawyers: S RAMA RAO
• Keywords: Tax effect
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA NO. A.Y. APPELLANT RESPONDENT 282/HYD/2016 2002-03 THE ASST.COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD M/S.OWENS CORNINGS INDUSTRIES (INDIA) PVT. LTD., (FORMERLY KNOWN AS M/S.SAINT GOBAIN VETROTEX INDIA LTD) HYDERABAD [PAN: AAACV9858N] 283/HYD/2016 2003-04 FOR REVENUE : SHRI S.SRINIVAS, DR FOR ASSESSEE : SHRI S.RAMA RAO, AR DATE OF HEARING : 06-09-2021 DATE OF PRONOUNCEMENT : 13-09-2021 O R D E R PER S.S.GODARA, J.M. : THESE REVENUES APPEALS FOR AYS.2002-03 & 2003-04 A RE DIRECTED AGAINST THE CIT(A)4, HYDERABADS ORDER(S) D ATED 21- 12-2015 PASSED IN APPEAL NOS.0004 & 0216 / DCIT,CIR -3(1) / 2011-12 & 2014-15 / CIT(A)-4 /HYD/2015-16 IN PROCE EDINGS U/S.143(3) OF THE INCOME TAX ACT, 1961 [IN SHORT, THE ACT]; RESPECTIVELY. 2. AT THE TIME OF HEARING, IT HAS BEEN BROUGHT TO OUR NOTI CE THAT AS PER THE CBDT CIRCULAR NO.03 OF 2018 DATED 11-07-2018 AND CIRCULAR NO.17 OF 2019 DATED 8 TH AUGUST, 2019, THE TAX LIMIT FOR FILING OF APPEAL BY THE REVENUE BEFORE ITA NOS. 282 & 283/HYD/2016 :- 2 -: THE TRIBUNAL HAS BEEN FIXED AT RS.50 LAKHS WITH RETROSPE CTIVE EFFECT. 3. AFTER HEARING BOTH THE SIDES AND PERUSING THE RECOR DS AS PLACED BEFORE US, WE FOUND THAT THESE APPEALS ARE COVE RED BY THE AFORESAID CIRCULAR AND ARE, THEREFORE, NOT MAINTAIN ABLE. SINCE THE TAX EFFECT IN THESE APPEALS IS LESS THAN RS. 50 LAKHS, WE ARE DISMISSING THE SAME ON ACCOUNT OF LOW TAX EFFEC T. HOWEVER, THE REVENUE SHALL BE AT LIBERTY TO SEEK RECAL L OF THE ORDER, IF THESE CASES ARE FOUND TO BE FALLING WITHIN THE EXCEPTIONS MENTIONED IN THE CIRCULAR(S) CITED ABOVE. 4. THESE REVENUES APPEAL ARE DISMISSED IN ABOVE TER MS. ORDER PRONOUNCED IN THE OPEN COURT ON 13 TH SEPTEMBER, 2021 SD/- SD/- (LAXMI PRASAD SAHU) (S.S.GO DARA) ACCOUNTANT MEMBER JUDICIAL MEM BER HYDERABAD, DATED: 13-09-2021 TNMM ITA NOS. 282 & 283/HYD/2016 :- 3 -: COPY TO : 1.THE ASST.COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD. 2.M/S. OWENS CORNINGS INDUSTRIES (INDIA) PVT. LTD. , (FORMERLY KNOWN AS M/S.SAINT GOBAIN VETROTEX INDIA LTD), KOTHUR MANDAL, THIMMAPUR, MAHABUBNAGAR. 3.CIT(APPEALS)-4, HYDERABAD. 4.PR.CIT-4, HYDERABAD. 5.D.R. ITAT, HYDERABAD. 6.GUARD FILE.