Dy. Commissioner of Income Tax , Circle-2(1), Hyderabad V. Karvy Stock Broking Limited, Hyderabad

ITA 501/Hyd/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2463 (ITAT-HYDERABAD)
• Duration Of Justice: 5 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-09-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-B
• Assessment Year: 2014-2015
• Appeal Filed On: 05-04-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: P MURALIKRISHNA
• Keywords: Tax effect

Judgement Text

ITA NO 501 OF 2019 KARVY STOCKING BROKING LTD HYDERABAD. PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA NO.501/HYD/2019 ASSESSMENT YEAR: 2014-15 DY. COMMISSIONER OF INCOME TAX, CIRCLE 2(1) HYDERABAD VS. KARVY STOCK BROKING LTD HYDERABAD PAN:AABCJ5190K (APPELLANT) (RESPONDENT) REVENUE: SHRI MOHAN KUMAR, DR ASSESSEE BY: SRI P. MURALI KRISHNA DATE OF HEARING: 19/08/2019 DATE OF PRONOUNCEMENT: 05/09/2019 ORDER PER SMT. P. MADHAVI DEVI, J.M. THIS IS ASSESSEES APPEAL FOR THE A.Y 2014-15 AGAIN ST THE ORDER OF THE CIT (A)-2, HYDERABAD, DATED 29.01. 2019. 2. AT THE TIME OF HEARING IT HAS BEEN BROUGHT TO OU R NOTICE THAT THE TAX EFFECT IN THIS APPEAL IS LESS T HAN RS. 50.00 LAKHS. ON VERIFICATION OF THE ASSESSMENT ORD ER, IT IS NOTICED THAT THE ADDITION WHICH HAS BEEN DELETED BY THE CIT(A) IS LESS THANRS.10.00 LAKHS. IN THE LIGHT OF THE CBDT CIRCULAR NO. 17/2019 DATED 8 TH AUGUST, 2019, THE REVENUES APPEAL IS DISMISSED ON ACCOUNT OF LOW TAX EFFECT. ITA NO 501 OF 2019 KARVY STOCKING BROKING LTD HYDERABAD. PAGE 2 OF 2 3. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 5 TH SEPTEMBER, 2019. SD/- SD/- (S. RIFAUR RAHMAN) (P. MADHAVI DEVI) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED 5 TH SEPTEMBER, 2019. VINODAN/SPS COPY TO: 1 DY.CIT, CIRCLE 2(1) ROOM NO.514, 5 TH FLOOR, SIGNATURE TOWERS, KONDAPUR 500084 2 M/S. KARVY STOCK BROKING LTD, 46, AVENUE 4, STREE T NO.1, ROAD NO.10, BANJARA HILLS, HYDERABAD 500034 3 CIT (A)-2 HYDERABAD 4 PR. CIT 2 HYDERBAD 5 THE DR, ITAT HYDERABAD 6 GUARD FILE BY ORDER