THE DCIT., CIRCLE-2(1)., VIJAYAWADA., Vijayawada V. M/s Friends Shoe Company, Vijayawada

ITA 467/VIZ/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 2105 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 3 year(s) 2 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 10-12-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 14-12-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M K SETHI
• Keywords: Tax effect

Judgement Text

ITA NO.467/VIZAG/2012 FRIENDS SHOE COMPANY, VIJAYAWADA 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.467/VIZAG/2012 ( / ASSESSMENT YEAR : 2008-09) DCIT CIRCLE-2(1) VIJAYAWADA VS. FRIENDS SHOE COMPANY VIJAYAWADA [ [ PAN: AAAFF4033C ] ( ) / APPELLANT) ( *+) / RESPONDENT ) C.O. NO.29/VIZAG/2013 (ARISING OUT OF I.T.A.NO.467/VIZAG/2012) ( / ASSESSMENT YEAR : 2008-09) FRIENDS SHOE COMPANY VIJAYAWADA VS. DCI T CIRCLE - 2(1) VIJAYAWADA [ ( ) / APPELLANT) ( *+) / RESPONDENT ) / APPELLANT BY : SHRI M.K. SETHI, DR #$ / RESPONDENT BY : SHRI C. SUBRAHMANYAM, AR ( / DATE OF HEARING : 17 .02.2016 ( / DATE OF PRONOUNCEMENT : 17.02.2016 ITA NO.467/VIZAG/2012 FRIENDS SHOE COMPANY, VIJAYAWADA 2 / O R D E R PER V. DURGA RAO, JUDICIAL MEMBER: THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORD ER OF THE CIT(A), VIJAYAWADA DATED 18.6.2012 FOR THE ASSESSMENT YEAR 2008-09. THE CROSS APPEAL FILED BY THE ASSESSEE IS IN SUPPORT OF THE ORDER OF CIT(A). 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 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, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. HENCE, THE SAME IS DISMISSED. 3. THE C.O. FILED BY THE ASSESSEE IS SUPPORTING THE ORDER OF THE CIT(A). THEREFORE, FOR THE REASONS RECORDED IN THE PRECEDING PARAGRAPH, WE ARE OF THE OPINION THAT THE C.O. FILED BY THE AS SESSEE IS INFRUCTUOUS AND HENCE, THE SAME IS DISMISSED. ITA NO.467/VIZAG/2012 FRIENDS SHOE COMPANY, VIJAYAWADA 3 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED AND THE CROSS OBJECTION FILED BY THE ASSESSEE IS ALSO DISMI SSED. ORDER PRONOUNCED IN THE OPEN COURT ON 17 TH FEB16. SD/- SD/- ( . ) (. ) ( G. MANJUNATHA) ( V. DURGA RAO ) / ACCOUNTANT MEMBER / JUDICIAL MEMBER , /VISAKHAPATNAM: 0 / DATED : 17.02.2016 VG/SPS # 2, 3,/ COPY OF THE ORDER FORWARDED TO :- 1. / THE APPELLANT THE DCIT, CIRCLE-2(1), VIJAYAWADA 2. #$ / THE RESPONDENT M/S. FRIENDS SHOE COMPANY, 14-14-24, HANUMANPET, VIJAYAWADA 3. 5 / THE CIT, VIJAYAWADA 4. 5 () / THE CIT(A), VIJAYAWADA 5. , # :, ( : , , / DR, ITAT, VISAKHAPATNAM 6 . / GUARD FILE / BY ORDER // TRUE COPY // >? : ( SR.PRIVATE SECRETARY ) ( : , , / ITAT, VISAKHAPATNAM