The DCIT, Kakinada V. The Kakinada Co-Operative Building Society, Kakinada

ITA 307/VIZ/2016

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 1163 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 2 year(s) 8 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-11-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2008-2009
• Appeal Filed On: 03-03-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUMAN MALIK
• Assessee Lawyers: C V S MURTHY
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM . , . . , BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH , ACCOUNTANT MEMBER . / I . T .A.NO. 307 /VIZ/201 6 ( / ASSESSMENT YEAR: 20 08 - 09 ) D CIT, CIRCLE - 1 KAKINADA VS. THE KAKINADA CO - OPERATIVE BUILDING SOCIETY LTD., 13 - 4 - 13, RAMAYYA STREET SURYARAOPETA KAKINADA [PAN : AAAAT7000L] ( / APPELLANT) ( / RESPONDENT) CROSS OBJECTION NO.07/VIZ/2017 ARISING OUT OF I .T.A.NO. 307 /VIZ/2016 ( / ASSESSMENT YEAR: 2008 - 09) THE KAKINADA CO - OPERATIVE BUILDING SOCIETY LTD., 13 - 4 - 13, RAMAYYA STREET SURYARAOPETA KAKINADA [PAN : AAAAT7000L] VS. ADDL.COMMISSIONER OF INCOME TAX KAKINADA ( / APPELLANT) ( / RESPONDENT) / REVENUE BY : SMT. SUMAN MALIK , D R / ASSESSEE BY : SHRI C.V.S.MURTHY , AR / DATE OF HEARING : 2 8 . 1 1 . 2018 / DATE OF PRONOUNCEMENT : 30 . 1 1 .2018 2 I.T.A. NO . 307 /VIZ/201 6 & CO NO.07 /VIZ/201 7 THE KAKINADA CO - OPERATIVE BUILDING SOCIETY, KAKINADA / O R D E R PER D.S. SUNDER SINGH, ACCOUNTANT MEMBER: TH IS APPEAL IS FILED BY THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX(APPEALS) [CIT(A)] - 2 , VISAKHAPATNAM DATED 1 0 .03.201 6 AND CROSS OBJECTION FILED BY THE ASSESSEE IN SUPPORT OF THE ORDER OF THE LD.CIT(A) FOR THE ASSESSMENT YEAR 20 08 - 09 . 2. WHEN TH E S E APPEAL S ARE TAKEN UP FOR HEARING, THE LD. COUNSEL FOR THE ASSESSEE HAS SUBMITTED THAT THE TAX EFFECT INVOLVED IN TH ESE APPEAL S IS BELOW RS. 2 0 LAKHS. AS PER THE LATEST CIRCULAR NO. 03/2018, DATED 11 . 07 . 2018 10.12.2015 OF CBDT BEING RETROSPECTIVE IN NATURE, WHICH IS IN SUPERSESSION OF ITS CIRCULAR NO. 21/2 0 15 DATED 10 . 12 . 2015, IN RELATION TO FILING OF APPEALS BEFORE THE INCOME TAX APPELLATE TRIBUNAL , THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. THE L D. D.R. HAS NOT RAISED ANY OBJECTION. IN VIEW OF THE ABOVE, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. HENCE, THE SAME IS DISMISSED. 3. SINCE THE APPEAL FILED BY THE REVENUE IS DISMISSED , THE CROSS OBJECTIONS FILED BY THE ASSESSEE ARE ALLOWED. 4 . IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED AND THE CROSS OBJECTIONS FILED BY THE ASSESSEE ARE ALLOWED . 3 I.T.A. NO . 307 /VIZ/201 6 & CO NO.07 /VIZ/201 7 THE KAKINADA CO - OPERATIVE BUILDING SOCIETY, KAKINADA THE ABOVE ORDER WAS PRONOUNCED IN THE OPEN COURT ON 30 TH NOVEMBER , 2018. S D/ - S D/ - ( . ) ( . . ) (V. DURGA RAO) ( D.S. SUNDER SINGH ) /JUDICIAL MEMBER /ACCOUNTANT MEMBER /VISAKHAPATNAM /DATED : 30 .11.2018 L.RAMA, SPS / COPY OF THE ORDER FORWARDED TO: - 1. / THE ASSESSEE - THE KAKINADA CO - OPERATIVE BUILDING SOCIETY LTD.,13 - 4 - 13, RAMAYYA STREET, SURYARAOPETA, KAKINADA 2. / THE REVENUE D CIT, CIRCLE - 1 , KAKINADA (II) ADDL.COMMISSIONER OF INCOME TAX, KAKINADA 3. THE COMMISSIONER OF INCOME TAX - 2 , VISAKHAPATNAM 4. THE COMMISSIONER OF INCOME - TAX (APPEALS) - 2 , VISAKHAPATNAM 5 . , , / DR, ITAT, VISAKHAPATNAM 6 . / GUARD FILE / BY ORDER // TRUE COPY // SR. PRIVATE SECRETARY ITAT, VISAKHAPATNAM