THE ITO, Visakhapatnam V. Karuna Estates and Developers, Visakhapatnam

ITA 405/VIZ/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 1049 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 7 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-07-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2011-2012
• Appeal Filed On: 04-12-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

ITA NO.405/VIZAG/2015 KARUNA ESTATES & DEVELOPERS, 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.405/VIZAG/2015 ( / ASSESSMENT YEAR: 2011-12) I TO WARD - 1(2), VISAKHAPATNAM VS. K ARUNA ESTATES AND DEVELOPERS, VISAKHAPATNAM [PAN: A AHFK8180C ] ( % / APPELLANT) ( &'% / RESPONDENT) / APPELLANT BY : S HRI M.N. MURTHY NAIK, DR / RESPONDENT BY : S HRI I. KAMA SASTRY, AR / DATE OF HEARING : 1 2.07.2016 / DATE OF PRONOUNCEMENT : 14.07.2016 / 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 13.10.2015 FOR THE ASSESSMEN T YEAR 2011-12. 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 ITA NO.405/VIZAG/2015 KARUNA ESTATES & DEVELOPERS, VISAKHAPATNAM 2 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. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 14 TH JUL16 SD/- SD/- ( . ) ( . ) (G. MANJUNATHA) (V. DURGA RAO) /ACCOUNTANT MEMBER /JUDICIAL MEMBER ! /VISAKHAPATNAM: % /DATED : 14.07.2016 VG/SPS '! (! /COPY OF THE ORDER FORWARDED TO:- 1. / THE APPELLANT THE ITO, WARD-1(2), VISAKHAPATNAM 2. / THE RESPONDENT KARUNA ESTATES AND DEVELOPERS, D.NO.28- 5-4, YELLAMMATHOTA, SURYABAGH, VISAKHAPATNAM 3. ) / THE CIT-1, VISAKHAPATNAM 4. ) ( ) / THE CIT(A), VISAKHAPATNAM 5. ! , , , , ! / DR, ITAT, VISAKHAPATNAM 6 . / GUARD FILE / BY ORDER // TRUE COPY // /0 , (SR.PRIVATE SECRETARY) , , ! / ITAT, VISAKHAPATNAM