DCIT, Central Circle-2(4), Hyd, Hyderabad V. P. Yadi Reddy, Ghatkesar Mandal, R.R.Dist, R.R.Dist

ITA 481/HYD/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 6143 (ITAT-HYDERABAD)
• Duration Of Justice: 8 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 23-12-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 28-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M SITHARAM
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA.NO.481/HYD/2015 ASSESSMENT YEAR 2006-2007 DCIT, CENTRAL CIRCLE-2(4), HYDERABAD. VS., MR. P. YADI REDDY, ANKUSHAPUR (V), GHATKESAR MANDAL, R.R. DISTRICT. PAN AHPPP6681G (APPELLANT) (RESPONDENT) FOR REVENUE : MR. M. SITHARAM FOR ASSESSEE : -NONE- DATE OF HEARING : 23.12.2015 DATE OF PRONOUNCEMENT : 22.01.2016 ORDER PER SMT. P. MADHAVI DEVI, J.M. THIS IS REVENUES APPEAL FOR THE A.Y. 2006-07. IN THIS APPEAL, THE REVENUE IS AGGRIEVED BY THE ORD ER OF THE LD. CIT(A) DATED 25.02.2015. 2. NONE APPEARED ON BEHALF OF THE RESPONDENT- ASSESSEE AT THE TIME OF HEARING OF THIS APPEAL. HOW EVER, WE PROCEED TO DISPOSE OF THE APPEAL AS THE TAX EFFE CT INVOLVED IN THIS APPEAL IS LESS THAN RS.10 LAKHS. T HEREFORE, REVENUES APPEAL IS LIABLE TO BE DISMISSED IN VIEW OF CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015. ON GOING THROUGH THE ASSESSMENT ORDER, WE FIND THAT TH E TOTAL INCOME ASSESSED BY THE A.O. IS AT RS.27,25,500 AND THE 2 ITA.NO.481/HYD/2015 MR. P. YADI REDDY, ANKUSHAPUR (V), GHATKESAR (M), R.R. DISTRICT. TAX EFFECT INVOLVED IN THIS APPEAL FILED BY THE REV ENUE IS LESS THAN RS.10 LAKHS AND THIS POSITION HAS BEEN CONFIRMED BY THE LEARNED D.R. THEREFORE, WE ARE WAI VING THE SERVICE OF NOTICE TO THE RESPONDENT-ASSESSEE AN D ARE PROCEEDING TO DISMISS THIS APPEAL ON THE BASIS OF T HE ABOVE CBDT CIRCULAR. 3. ON PERUSAL OF THE CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE FIND THAT THE CBDT HAS FIXED THE MONETARY LIMIT FOR FILING OF APPEALS BEFO RE THE TRIBUNAL, HONBLE HIGH COURT AND HONBLE SUPREME CO URT RESPECTIVELY. THE MONETARY LIMIT FIXED FOR FILING O F APPEAL BEFORE THE TRIBUNAL IS RS.10 LAKHS AND IT IS ALSO C LARIFIED THAT THE TAX EFFECT MEANS THE DIFFERENCE BETWEEN TH E TAX ON THE TOTAL INCOME ASSESSED AND THE TAX THAT WOULD HAVE BEEN CHARGEABLE ON SUCH TOTAL INCOME BEING REDUCED BY THE AMOUNT OF INCOME IN RESPECT OF THE ISSUES AGAIN ST WHICH, APPEAL IS INTENDED TO BE FILED AND ALSO THAT THE TAX WILL NOT INCLUDE ANY INTEREST THEREON, EXCEPT WHERE CHARGEABILITY OF INTEREST ITSELF IS IN DISPUTE. PAR A-10 OF THE INSTRUCTION ALSO CLARIFIES THAT THE INSTRUCTION WIL L APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO B E FILED HENCEFORTH IN THE HIGH COURTS/ TRIBUNAL AND HAS DI RECTED THE DEPARTMENT TO EITHER WITHDRAW OR NOT PRESS THE APPEALS BELOW THE SPECIFIED TAX LIMITS. DULY TAKING NOTE OF THE CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE DISMISS THE APPEAL OF THE REVENUE WITH LIB ERTY TO REVENUE TO SEEK RECALL OF THIS ORDER IF THE APPEAL FALLS WITHIN ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCUL AR. 3 ITA.NO.481/HYD/2015 MR. P. YADI REDDY, ANKUSHAPUR (V), GHATKESAR (M), R.R. DISTRICT. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 22.01.2016. SD/- SD/- (S. RIFAUR RAHMAN) (SMT. P. MADHAVI DEVI) ACOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED 22 ND JANUARY, 2016 VBP/- COPY TO 1. THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 2(4), 3 RD FLOOR, POSNETT BWN., RAMKOTE, HYDERABAD 500 001. 2. MR. P. YADI REDDY, 4 - 52, ANKUSHAPUR (V), GHATKESAR (M), RANGA REDDY DISTRICT. 3. CIT(A)-I (I/C), GUNTUR. 4. PR. CIT, CENTRAL, HYDERABAD. 5. D.R. I.T.A.T. A BENCH, HYDERABAD. 6. GUARD FILE