Dy. Commissioner of Income Tax , International Taxation-2, Hyderabad V. Nakul Raheja , Hyderabad

ITA 736/Hyd/2019

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 5923 (ITAT-HYDERABAD)
• Duration Of Justice: 4 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-10-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-B
• Assessment Year: 2014-2015
• Appeal Filed On: 10-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NILANJAN DEY
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO.736/HYD/2019 ASSESSMENT YEAR: 2014 - 15 DCIT, INTERNATIONAL TAXATION - 2, HYDERABAD. VS. SRI NAKUL RAHEJA, HYDERABAD. PAN: AHFPR 7181 P (APPELLANT) (RESPONDENT) ASSESSEE BY: SRI ANKIT AGARWAL REVENUE BY: SRI NILANJAN DEY, DR DATE OF HEARING: 01/10/2019 DATE OF PRONOUNCEMENT: 01 /10/2019 ORDER PER A. MOHAN ALANKAMONY, AM.: THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORDER OF THE LD. CIT(A) - 10, HYDERABAD DATED 18/01/2019 IN APPEAL NO. 0218/CIT(A) - 10/2016 - 17 /CIT(A) , HYD - 10/10167/2016 - 17 PASSED U/S. 143(3) & 250(6) OF THE ACT FOR THE ASST. YEAR 20 14 - 15 . 2. THE REVENUE HAS RAISED THE FOLLOWING GROUNDS OF APPEAL: - 1. WHETHER THE AMOUNT OF RS. 72,32,059/ - RECEIVED BY THE ASSESSEE IN INDIA IS TO BE ALLOWED AS EXEMPTION OR TO BE TAXED IN INDIA. 2. ANY OTHER GROUNDS OR GROUND THAT MAY BE URGED AT THE TIME OF APPEAL. 2 3. AT THE TIME OF HEARING IT HAS BEEN BROUGHT TO OUR NOTICE THAT AS PER THE CBDT CIRCULARS NO.03/2018 DATED 11.07.2018 AND CIRCULAR NO.17 OF 2019 DATED 9 TH AUGUST, 2019, THE TAX LIMIT FOR FILING APPEAL BY THE REVENUE BEFORE THE TRIBUNAL H AS BEEN FIXED AT RS.50.00 LAKHS AND ABOVE. THEREFORE, SINCE THE TAX EFFECT IN THE PRESENT APPEAL BEFORE US IS LESS THAN RS.50.00 LAKH, WE HEREBY DISMISS THE SAME WITH LIBERTY TO THE REVENUE TO SEEK RECALL OF THE ORDER, IF THE APPEAL FALLS WITHIN THE EXCEP TIONS MENTIONED IN THE CIRCULARS OF THE CBDT. 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THE 01 ST OCTOBER, 2019. SD/ - SD/ - (P. MADHAVI DEVI) ( A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD, DATED: 01 ST OCTOBER , 2019 OKK COPY TO: - 1) SRI NAKUL RAHEJA, D 602 - 603, SHANGRI LA LUXURY APARTMENTS, GORWA, VADODARA, GUJARAT - 39003. 2) DCIT, INTERNATIONAL TAXATION - 2, R.NO.506, 5 TH FLOOR, AAYAKAR BHAVAN, BASHEERBAGH, HYDERABAD. 3) THE CIT(A) - 10 , HYDERABAD 4) THE PR. CIT - 10 , HYDERABAD 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE