ACIT Central Circle-(4), Hyderabad V. Shri Raj Kishore Agarwal, Hyderabad

ITA 718/HYD/2010

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 98912 (ITAT-HYDERABAD)
• Duration Of Justice: 5 year(s) 7 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 30-12-2015
• Assessment Year: 2004-2005
• Appeal Filed On: 11-05-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SITHARAM
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A, HYDERABAD BEFORE SMT P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA NO. 718/HYD/2010 ASSESSMENT YEAR: 2004-05 ASST. COMMISSIONER OF INCOME- TAX, CENTRAL CIRCLE 4, HYDERABAD. VS. SRI RAJ KISHORE AGARWAL, HYDERABAD. (APPELLANT) (RESPONDENT) REVENUE BY : SHRI SITHARAM ASSESSEE BY : NONE DATE OF HEARING 22-12-2015 DATE OF PRONOUNCEMENT 22 -12-2015 O R D E R PER S. RIFAUR RAHMAN, A.M.: THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST TH E ORDER OF THE LEARNED COMMISSIONER OF INCOME-TAX(APPEALS)- I, HYDERABAD, DATED 15.03.2010 FOR AY 2004-05. 2. NONE APPEARED ON BEHALF OF THE RESPONDENT-ASSESS EE AT THE TIME OF HEARING OF THIS APPEAL. HOWEVER, WE PROCEE D TO DISPOSE OF THIS APPEAL AS THE TAX EFFECT INVOLVED IN THIS APPE AL IS LESS THAN RS. 10 LAKHS. THEREFORE, 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 THE TOTA L INCOME ASSESSED BY THE A.O. IS AT RS. 76,12,400/- AND THE TAX EFFEC T INVOLVED IN THIS APPEAL FILED BY THE REVENUE IS LESS THAN RS. 10 LAK HS AND THIS POSITION HAS BEEN CONFIRMED BY THE LEARNED DR. THEREFORE, WE ARE WAIVING 2 ITA NO. 718/HYD/2010 SHRI RAJ KISHORE AGARWAL THE SERVICE OF NOTICE TO THE ASSESSEE AND ARE PROCE EDING TO DISMISS THIS APPEAL ON THE BASIS OF THE ABOVE CBDT CIRCULAR . 3. ON PERUSAL OF THE CBDT CIRCULAR NO.21/2015 DATE D 10 TH DECEMBER, 2015, WE FIND THAT THE CBDT HAS FIXED THE MONETARY LIMIT FOR FILING OF APPEALS BEFORE THE TRIBUNAL, HONBLE HIGH COURT AND HONBLE SUPREME COURT RESPECTIVELY. THE MONETARY LI MIT FIXED FOR FILING OF APPEAL BEFORE THE TRIBUNAL IS RS.10 LAKHS AND IT IS ALSO CLARIFIED THAT THE TAX EFFECT MEANS THE DIFFERENCE BETWEEN THE TAX ON THE TOTAL INCOME ASSESSED AND THE TAX THAT WOULD HA VE BEEN CHARGEABLE ON SUCH TOTAL INCOME BEING REDUCED BY TH E AMOUNT OF INCOME IN RESPECT OF THE ISSUES AGAINST WHICH, APPE AL 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. PARA-10 OF THE INSTRUCTION ALSO CLARIFIES THAT THE INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO B E FILED HENCEFORTH IN THE HIGH COURTS/TRIBUNAL AND HAS DIRECTED THE DE PARTMENT TO EITHER WITHDRAW OR NOT PRESS THE APPEALS BELOW THE SPECIFI ED TAX LIMITS. DULY TAKING NOTE OF THE CBDT CIRCULAR NO.21/2015 DATED 1 0 TH DECEMBER, 2015, WE DISMISS THE APPEAL OF THE REVENUE WITH THE LIBERTY TO THE REVENUE TO SEEK RECALL OF THIS ORDER IF THIS CASE F ALLS WITHIN ANY OF THE EXCEPTIONS TO THE CBDT CIRCULAR MENTIONED THEREIN. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISS ED. PRONOUNCED IN THE OPEN COURT ON 22 ND DECEMBER, 2015 UPON CONCLUSION OF HEARING. SD/- SD/- (P. MADHAVI DEVI) (S. RIFAUR RAHM AN) JUDICIAL MEMBER A CCOUNTANT MEMBER HYDERABAD, DATED: 22 ND DECEMBER, 2015 KV 3 ITA NO. 718/HYD/2010 SHRI RAJ KISHORE AGARWAL COPY TO:- 1) ACIT, HYDERABAD. 2) SHRI RAJ KISHORE AGARWAL, 4-1-587/2585/3, TROOP BAZAR, HYDERABAD. 3 CIT(A)- I, HYDERABAD 4) CIT (CENTRAL), HYDERABAD 5) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDE RABAD.