THE ITO WARD - 6(3), Visakhapatnam V. M/s Syndicatte Bank, Visakhapatnam

ITA 708/VIZ/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 2130 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 2 year(s) 1 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 11-12-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: I SARISH KUMAR
• Assessee Lawyers: V K VISWESWARA RAO
• Keywords: Tax effect

Judgement Text

ITA NO.708/VIZAG/2013 & CO NO.21/VIZAG/2014 M/S. SYNDICATE BANK, VISAKHAPATNAM 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.708/VIZAG/2013 ( / ASSESSMENT YEAR : 2007-08) ITO WARD - 6(3) VISAKHAPATNAM VS. M/S. SYNDICATE BANK VISAKHAPATNAM [ [PAN: AACCS4899E ] ( ) / APPELLANT) ( *+) / RESPONDENT ) C.O. NO.21/VIZAG/2014 (ARISING OUT OF I.T.A.NO.708/VIZAG/2013) ( / ASSESSMENT YEAR : 2007-08) M/S. SYNDICATE BANK VISAKHAPATNAM VS. ITO WARD - 6(3) VISAKHAPATNAM ( ) / APPELLANT) ( *+) / RESPONDENT ) ( ) / APPELLANT BY : SHRI I. SARISH KUMAR, DR ,-( ) / RESPONDENT BY : SHRI V.K. VISWESWARA RAO, AR ) 1 / DATE OF HEARING : 20.01.2016 ) 1 / DATE OF PRONOUNCEMENT : 20.01.2016 ITA NO.708/VIZAG/2013 & CO NO.21/VIZAG/2014 M/S. SYNDICATE BANK, VISAKHAPATNAM 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), VISAKHAPATNAM DATED 20.09.2013 FOR THE ASSESSMENT Y EAR 2007-08 AND THE CROSS APPEAL FILED BY THE ASSESSEE IN SUPPORT O F THE LD. CIT(A)S ORDER. 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 CROSS APPEAL FILED BY THE ASSESSEE ONLY SUPP ORT THE ORDER OF LD. CIT(A). IN VIEW OF THE ABOVE, CROSS APPEAL IS DISMISSED. ITA NO.708/VIZAG/2013 & CO NO.21/VIZAG/2014 M/S. SYNDICATE BANK, VISAKHAPATNAM 3 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED AND THE CROSS APPEAL FILED BY THE ASSESSEE IS ALSO DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 20 TH JAN16. SD/- SD/- ( . ) (. ) ( G. MANJUNATHA) ( V. DURGA RAO ) / ACCOUNTANT MEMBER / JUDICIAL MEMBER 5 /VISAKHAPATNAM: 9 / DATED : 20.01.2016 VG/SPS ) , ;5 <5/ COPY OF THE ORDER FORWARDED TO :- 1. ( / THE APPELLANT THE ITO WARD-6(3), VISAKHAPATNAM 2. ,-( / THE RESPONDENT M/S. SYNDICATE BANK, DCI BRANCH, DREDGE HOUSE, PORT AREA, VISAKHAPATNAM. 3. > / THE CIT, VISAKHAPATNAM 4. > () / THE CIT(A), VISAKHAPATNAM 5. 5 , C, 1 C , 5 / DR, ITAT, VISAKHAPATNAM 6 . / GUARD FILE / BY ORDER // TRUE COPY // GH C ( SR.PRIVATE SECRETARY ) 1 C , 5 / ITAT, VISAKHAPATNAM