ITO, Ward-8(2), Hyderabad, Hyderabad V. B.N. Madhavan, Hyderabad, Hyderabad

ITA 348/HYD/2017

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 4824 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 5 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-08-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-B
• Next Hearing Date: 20-08-2019
• Assessment Year: 2009-2010
• Appeal Filed On: 27-02-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Gift; Tax effect
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A , HYDERABAD BEFORE SHRI P. MADHAVI DEV I , JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN , ACCOUNTANT MEMBER ITA NO. 348 / HYD/201 7 ASSESSMENT YEAR: 20 09 - 1 0 ITO, WARD 8(2) HYDERABAD. VS. B.N. MADHAVAN, HYDERABAD. PAN AILPB5418N (APPLICANT) (RESPONDENT ) REVENUE BY : SHRI MOHAN KUMAR ASSESSEE BY : NONE DATE OF HEARING : 20 - 0 8 - 201 9 DATE OF PRONOUNCEMENT : 26 - 0 8 - 201 9 ORDER PER S. RIFAUR RAHMAN , A .M.: TH IS APPEAL IS FILED BY THE REVENUE DIRECTED AGAINST THE ORDER OF CIT(A) 2 , HYDERABAD, DATED 06 / 11 /2016. 2. AT THE TIME OF HEARING IT HAS BEEN BROUGHT TO OUR NOTICE AS PER THE CBDT CIRCULARS NO.03/2018 DATED 11.07.2018 AND CIRCULAR NO.17 OF 2019 DATED 9 TH AUGUST, 2 019, THE TAX LIMIT FOR FILING OF APPEAL BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN FIXED AT RS.50.00 LAKHS. SINCE THE TAX EFFECT IN THIS APPEAL IS LESS THAN RS.50.00 LAKHS, WE ARE DISMISSING THE SAME ON ACCOUNT OF LOW TAX EFFECT WITH THE LIBERTY TO THE RE VENUE TO SEEK RECALL OF THE ORDER, IF ANY OF THESE CASES FALLS WITHIN THE EXCEPTIONS MENTIONED IN THE CIRCULARS CITED ABOVE. 2 ITA.NO . 348 /HYD/201 7 B.N. MADHAVAN, HYDERABAD . 3 . IN THE RESULT, THIS APPEAL FILED BY THE REVENUE IS DISMISSED. 4 . IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. PRONOUNCE D IN THE OPEN COURT O N 26 T H AUGUST , 201 9 . SD/ - SD/ - ( P. MADHAVI DEVI ) (S. RIFAUR RAHMAN) JUDICIAL MEMEBR ACCOUNTANT MEMBER HYDERABAD, DATED: 26 TH AUGUST , 201 9. KV 1) SHRI B.N. MADHAVAN D. NO. 21 - 6 - 642/5, GOD GIFT MARKET, RIKAB GUNJ, HYDERABAD. 2 ) ITO WARD - 8(2) HYDERABAD. 3) CIT(A) - 2 , HYDERABAD 4) PR. CIT - 2 HYDERABAD. 5 ) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDERABAD. 6 ) GUARD FILE.