ACIT, Cirlce-16(2), Hyd, Hyderabad V. Ocimum Biosolutions India Ltd., Hyd, Hyderabad

ITA 427/HYD/2016

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 3897 (ITAT-HYDERABAD)
• Duration Of Justice: 3 year(s) 7 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-11-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-B
• Assessment Year: 2011-2012
• Appeal Filed On: 28-03-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: Y V S T SAI
• Assessee Lawyers: P MURALI MOHANA RAO
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER I.T.A. NO. 427/HYD/2016 ASSESSMENT YEAR: 2011-12 INCOME TAX OFFICER, WARD-16(1), HYDERABAD VS M/S.OCIMUM BIOSOLUTIONS (INDIA) LTD., HYDERABAD [PAN: AAACO4095L] (APPELLANT) (RESPONDENT) FOR REVENUE : SHRI Y.V.S.T.SAI, CIT-DR FOR ASSESSEE : SHRI P. MURALI MOHANA RAO, AR DATE OF HEARING : 19-11-2019 DATE OF PRONOUNCEMENT : 27-11-2019 O R D E R PER SMT. P. MADHAVI DEVI, J.M. : THIS APPEAL FILED BY THE REVENUE IS FOR THE AY.2011-1 2. 2. AT THE TIME OF HEARING, IT HAS BEEN BROUGHT TO OUR NO TICE THAT AS PER THE CBDT CIRCULAR NO.03/2018 DATED 11-07-20 18 AND CIRCULAR NO.17 OF 2019 DATED 8 TH AUGUST, 2019, THE TAX LIMIT FOR FILING OF APPEAL BY THE REVENUE BEFORE THE TRIBUN AL HAS BEEN FIXED AT RS.50 LAKHS. 3. AFTER HEARING BOTH THE SIDES AND PERUSING THE RECORD S AS PLACED BEFORE US, WE FOUND THAT THIS APPEAL IS COVERE D BY THE I.T.A. NO.427/HYD/2016 :- 2 -: AFORESAID CIRCULAR AND IS, THEREFORE, NOT MAINTAINABLE . SINCE THE TAX EFFECT IN THIS APPEAL IS LESS THAN RS.50 LAKHS, WE ARE DISMISSING THE SAME ON ACCOUNT OF LOW TAX EFFECT AS APP ARENTLY THE CASE IS NOT COVERED BY ANY OF THE EXCEPTIONS IN THE CIRCULAR. HOWEVER, THE REVENUE IS AT LIBERTY TO SEEK RECALL OF TH E ORDER, IF THIS CASE IS FOUND TO BE FALLING WITHIN THE EXCEPTIONS MENTIONED IN THE CIRCULARS CITED ABOVE. 4. IN THE RESULT, THE APPEAL FILED BY REVENUE IS DISMI SSED. ORDER PRONOUNCED IN THE OPEN COURT ON 27 TH NOVEMBER, 2019 SD/- SD/- ( A. MOHAN ALANKAMONY ) ( P. MADHAVI DEVI ) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED 27 TH NOVEMBER, 2019 TNMM I.T.A. NO.427/HYD/2016 :- 3 -: COPY TO : 1. THE INCOME TAX OFFICER, WARD-16(1), HYDERABAD. 2. M/S.OCIMUM BIOSOLUTIONS (INDIA) LTD., ROYAL DEME URE, PLOT NO.12/2, SECTOR-1, HUDA TECHNO ENCLAVE, MADHAP UR, HYDERABAD. 3. DRP-1, BENGALURU. 4. DIRECTOR OF INCOME TAX (IT & TP), HYDERABAD. 5. ADDL. COMMISSIONER OF INCOME TAX (TRANSFER PRICI NG), HYDERABAD. 6. D.R. ITAT, HYDERABAD. 7. GUARD FILE.