The Income Tax Officer, Visakhapatnam V. M/s Annapurna Constructions, Visakhapatnam

ITA 307/VIZ/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 1245 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 8 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-04-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 24-03-2016
• Assessment Year: 2005-2006
• Appeal Filed On: 07-08-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K RAVI
• Assessee Lawyers: N RAMA SWAMY
• Keywords: Tax effect

Judgement Text

ITA NO.307/VIZAG/2015 & CO NO.32/VIZAG/2015 M/S. ANNAPURNA CONSTRUCTIONS, VISAKHAPATNAM 1 , , IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM . , . , $ BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER & SHRI G. MANJUNATHA, ACCOUNTANT MEMBER ./I.T.A.NO.307/VIZAG/2015 ( / ASSESSMENT YEAR: 2005-06) ITO, WARD - 1(3), VISAKHAPATNAM VS. M/S. ANNAPURNA CONSTRUCTIONS VISAKHAPATNAM [ P AN: AADFA 6900A ] ( % / APPELLANT) ( &'% / RESPONDENT) C.O. NO.32/VIZAG/2015 (ARISING OUT OF I.T.A.NO.307/VIZAG/2015) ( / ASSESSMENT YEAR: 2005-06) M/S. ANNAPURNA CONS TRUCTIONS VISAKHAPATNAM VS. ITO, WARD - 1(3), VISAKHAPATNAM ( % / APPELLANT) ( &'% / RESPONDENT) / APPELLANT BY : SHRI K. RAVI, DR / RESPONDENT BY : SH RI N. RAMA SWAMY, AR / DATE OF HEARING : 06.04.2016 / DATE OF PRONOUNCEMENT : 07.04.2016 / O R D E R PER V. DURGA RAO, JUDICIAL MEMBER: THIS APPEAL IS FILED BY THE REVENUE AGAINST THE OR DER OF THE CIT(A)- 1, VISAKHAPATNAM, DATED 2.6.2015 FOR THE ASSESSMENT YEAR 2005-06 ITA NO.307/VIZAG/2015 & CO NO.32/VIZAG/2015 M/S. ANNAPURNA CONSTRUCTIONS, VISAKHAPATNAM 2 AND THE CROSS APPEAL IS FILED BY THE ASSESSEE IN SU PPORT OF ORDER OF CIT(A). 2. WHEN THIS APPEAL IS TAKEN UP FOR HEARING, THE LD. COUNSEL FOR THE ASSESSEE HAS SUBMITTED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL IS BELOW RS.10 LAKHS. AS PER THE LATEST CIRCULAR NO.2 1/2015 DATED 10.12.2015 OF CBDT BEING RETROSPECTIVE IN NATURE, T HE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. THE LD. D.R. HAS NOT RAISED ANY OBJECTION. IN VIEW OF THE ABOVE, THIS APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. HENCE, THE SAME IS DISMISSED. 3. THE CROSS APPEAL FILED BY THE ASSESSEE ONLY SUPP ORT THE ORDER OF LD. CIT(A). IN VIEW OF THE ABOVE, CROSS APPEAL IS DISMISSED. 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED AND THE CROSS APPEAL FILED BY THE ASSESSEE IS ALSO DISMISSED. THE ABOVE ORDER WAS PRONOUNCED IN THE OPEN COURT ON 7 TH APR16. SD/- SD/- ( . ) ( . ) (G. MANJUNATHA) (V. DURGA RAO) /ACCOUNTANT MEMBER /JUDICIAL MEMBER ! /VISAKHAPATNAM: % /DATED : 7.4.2016 VG/SPS ITA NO.307/VIZAG/2015 & CO NO.32/VIZAG/2015 M/S. ANNAPURNA CONSTRUCTIONS, VISAKHAPATNAM 3 '! (! /COPY OF THE ORDER FORWARDED TO:- 1. / THE APPELLANT THE ITO, WARD-1(3), VISAKHAPATNA M 2. / THE RESPONDENT M/S. ANNAPURNA CONSTRUCTIONS, 4 9-27-60, MADHURANAGAR, VISAKHAPATNAM 3. ) / THE CIT-1, VISAKHAPATNAM 4. ) ( ) / THE CIT(A)-1, VISAKHAPATNAM 5. ! , , , , ! / DR, ITAT, VISAKHAPATNAM 6 . / GUARD FILE / BY ORDER // TRUE COPY // /0 , (SR.PRIVATE SECRETARY) , , ! / ITAT, VISAKHAPATNAM