Dy. Commissioner of Income Tax , Circle-17(2), Hyderabad V. Vishnu Sree Ventures Private Limited , Hyderabad

ITA 420/Hyd/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 7557 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 11 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Assessment Year: 2008-2009
• Appeal Filed On: 27-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUNIL KUMAR PANDEY
• Keywords: Tax effect
• Section: 143(3); 263

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER I.T.A. NO. 420/HYD/2019 ASSESSMENT YEAR: 2008 - 09 DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 17(2), HYDERABAD VS VISHNU SREE VENTU R ES PRIVATE LIMITED, HYDERABAD. [PAN: AACCV 4833 H ] (APPELLANT) (RESPONDENT) FOR REVENUE : SHRI SUNIL KUMAR PANDEY, DR FOR ASSESSEE : SMT. S. SANDHYA, AR DATE OF HEARING : 18/03/2021 DATE OF PRONOUNCEMENT : 23 /03/2021 O R D E R PER A. MOHAN ALANKAMONY, A.M. : THIS APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF THE LD. CIT (A) - 11, HYDERABAD IN APPEAL NO. 026/2017 - 18/CIT(A) - 11/HYD/18 - 19, DATED 27/11/2018 PASSED U/S. 143(3) R.W.S 263 AND U/S. 250(6) OF THE ACT FOR THE AY: 2008 - 09. 2. AT THE TIME OF HEARING, IT HAS BEEN BROUGHT TO OUR NOTICE BY THE LD.AR THAT THE REVENUES APPEAL IS NOT MAINTAINABLE AS PER THE CBDT CIRCULARS NO.03/2018 DATED 11 - 07 - 2018 AND CIRCULAR NO.17 OF 2 019 DATED 8 TH AUGUST, 2019 WHEREIN THE TAX LIMIT FOR FILING THE APPEAL BY THE 2 REVENUE BEFORE THE TRIBUNAL HAS BEEN FIXED AT RS.50 LAKHS AND IN THE ASSESSES CASE THE TAX EFFECT IS LESS THAN FIFTY LACKS . 3. THE LD.DR CONCEDED TO THE SUBMISSION OF LD.AR. WE THEREFORE DISMISS THIS APPEAL ON ACCOUNT OF LOW TAX EFFECT. HOWEVER, WE MAKE IT CLEAR THAT THE REVENUE IS AT LIBERTY TO SEEK RECALL OF THE ORDER, IF THE CASE IS FOUND TO BE FALLING WITHIN THE EXCEPTIONS MEN TIONED IN THE CIRCULARS CITED ABOVE OR OTHERWISE FOUND TO BE ABOVE THE TAX LIMIT . 4. IN THE RESULT, THE APPEAL FILED BY REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 23 RD MARCH, 2021 SD/ - SD/ - ( P. MADHAVI DEVI ) ( A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD, DATED 23 RD MARCH, 2021 OKK COPY TO : 1. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 17(2), 9 TH FLOOR, SIGNATURE TOWERS, OPP. BOTANICAL GARDEN, KONDAPUR, HYDERABAD 500 084. 2. M/S. VISHNU SREE VENTURES PRIVATE LIMITED, 4 - 7 - 102/33, FLAT NO.G - 1, DEVI RESIDENCY, SAI ENCLAVE, NAGENDRA NAGAR, HABSIGUDA, HYDERABAD. 3. CIT (APPEALS) - 11, HYDERABAD. 4. PR. CIT (CENTRAL), HYDERABAD. 3 5. D.R. ITAT, HYDERABAD. 6. GUARD FILE.