ACIT, Cirlce-2(2), Hyd, Hyderabad V. Transport Corporation of India Ltd., Hyd, Secunderabad

ITA 294/HYD/2016

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 6448 (ITAT-HYDERABAD)
• Duration Of Justice: 3 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-06-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2011-2012
• Appeal Filed On: 14-03-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SIBENDU MOHARANA
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

ITA NO 294 OF 2016TCI LTD SECUNDERABAD PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SMT. P.MADHAVI DEVI, JUDICIAL MEMBER ITA NO.294/HYD/2016 (ASSESSMENT YEAR: 2011-12) ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE 2(2) HYDERABAD VS. M/S. TRANSPORT CORPORATION OF INDIA LTD, SECUNDERABAD PAN: AAACT 7966 R (APPELLANT) (RESPONDENT) FOR REVENUE : SHRI SIBENDU MOHARANA, DR FOR ASSESSEE : SHRI Y. RATNAKAR DATE OF HEARING : 14.06.2016 DATE O F PRONOUNCEMENT : 17 .06.2016 O R D E R PER SMT. P. MADHAVI DEVI, J.M. THIS IS REVENUES APPEAL FOR THE A.Y 2011-12. THE ASSESSMENT WAS COMPLETED U/S 143(3) R.W.S. 92CA(3) R.W.S. 144C(1) OF THE INCOME TAX ACT AGAINST WHICH THE REV ENUE IS IN APPEAL BEFORE US. THE RELIEF GIVEN BY THE DRP IS IN RESPECT OF DISALLOWANCE OF EXPENDITURE TOWARDS PAYMENTS MADE T O THE UNION/LOCAL VEHICLE OWNERS ASSOCIATION AND IN RESPE CT OF SPARES AND REPAIRS. THE AO DISALLOWED THE EXPENDITURE AT 2 0%, WHILE THE DRP HAS RESTRICTED IT TO 15% WHICH ACCORDING TO THE CALCULATION OF THE ASSESSEE IS QUANTIFIED AT RS.3,4 2,351 AND THE TAX THEREON WORKS OUT TO RS.1,18,480. THUS, THE TAX EFFECT OF THE ABOVE APPEAL IS, LESS THAN RS.10.00 LAKHS AND IN VI EW OF THE ITA NO 294 OF 2016TCI LTD SECUNDERABAD PAGE 2 OF 2 CBDT CIRCULAR 21 OF 2015, DATED 10.12.2015 BEARING F.NO. 279/MISC.142/2007/ITI(PT.), THE REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 17 TH JUNE, 2016. S D/ - S D/ - (J. SUDHAKAR REDDY) (P. MADHAVI DEVI) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED 17 TH JUNE, 2016. VNODAN/SPS COPY TO: 1. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE 2(2) ROOM NO.824, B BLOCK, 8 TH FLOOR, IT TGOWERS, AC GUARDS, HYDERABAD 2. M/S. TRANSPORT CORPORATION OF INDIA LTD, 1-8-721 TO 273, ASHOK BHOOPAL CHAMBERS, SP ROAD, SECUNDERABAD 50000 3 3. PR. CIT-5 HYDERABAD 4. DRP-1, G-16 GROUND FLOOR, CENTRAL REVENUE BUILDINGS , QUEENS ROAD, BENGALURU 560001 5. THE DR, ITAT, HYDERABAD 6. GUARD FILE BY ORDER