DCIT, Central Circle-2(1), Hyd, Hyderabad V. T. Saritha, Hyd, Hyderabad

ITA 737/HYD/2015

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 98854 (ITAT-HYDERABAD)
• Duration Of Justice: 6 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-12-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 16-12-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 01-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SITHARAM
• Assessee Lawyers: D SATYANARAYANA
• 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. 737/HYD/2015 ASSESSMENT YEAR: 2007-08 DY. COMMISSIONER OF INCOME- TAX, CENTRAL CIRCLE 2(1), HYDERABAD. VS. T. SARITHA, HYDERABAD PAN AJPPT 9347 M (APPELLANT) (RESPONDENT) REVENUE BY : SHRI SITHARAM ASSESSEE BY : SHRI D. SATYANARAYANA DATE OF HEARING 16-12-2015 DATE OF PRONOUNCEMENT 23-12-2015 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)-12, HYDERABAD DATED 31.03.2015, WHEREBY HE DELETED THE ADDITION OF RS. 17.55 LAKHS MADE BY THE ASSESSING OFFICER ON ACCOUNT OF U NEXPLAINED INVESTMENT. 2. AT THE TIME OF HEARING, THE LD. COUNSEL FOR THE ASSESSEE, SHRI D. SATYANARAYANA SUBMITTED THAT THE TAX EFFECT IN T HIS APPEAL IS LESS THAN RS. 10 LAKHS AND THEREFORE, REVENUES APPEAL I S LIABLE TO BE DISMISSED IN VIEW OF CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015. THIS CIRCULAR REGARDING THE PECUNIARY LIMIT F OR PREFERRING THE APPEAL BEFORE THE ITAT BY THE REVENUE HAS NOW STATU TORY FORCE UNDER SEC. 268A OF THE INCOME-TAX ACT, 1961. ON GOING THR OUGH THE ASSESSMENT ORDER, WE FIND THAT THE TOTAL INCOME AS SESSED BY THE A.O. IS AT RS. 17,55,000 AND AFTER GIVING APPEAL EFFECT TO THE ORDER OF 2 ITA NO. 737 /HYD/2015 T. SARITHA CIT(A) , THE TAX EFFECT INVOLVED IN THIS APPEAL FI LED BY THE REVENUE IS LESS THAN RS. 10 LAKHS AND THIS POSITION HAS NOT BE EN DISPUTED EVEN BY THE LEARNED DR. THEREFORE, WE ARE SATISFIED THAT THE TAX EFFECT IN THIS APPEAL IS LESS THAN RS.10 LAKHS. 3. THE CBDT VIDE CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015 HAS FIXED THE MONETARY LIMIT FOR FILING OF APPEALS BEFORE THE TRIBUNAL, HONBLE HIGH COURT AND HONBLE SUPREME COURT RESPEC TIVELY. THE MONETARY LIMIT FIXED FOR FILING OF APPEAL BEFORE TH E 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 TH E TAX THAT WOULD HAVE BEEN CHARGEABLE ON SUCH TOTAL INCOME BEING RED UCED BY THE AMOUNT OF INCOME IN RESPECT OF THE ISSUES AGAINST W HICH, APPEAL IS INTENDED TO BE FILED AND ALSO THAT THE TAX WILL NOT INCLUDE ANY INTEREST THEREON, EXCEPT WHERE CHARGEABILITY OF INTEREST ITS ELF 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. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISS ED. PRONOUNCED IN THE OPEN COURT ON 23 RD DECEMBER, 2015. SD/- SD/- (P. MADHAVI DEVI) (S. RIFAUR RAH MAN) JUDICIAL MEMBER A CCOUNTANT MEMBER HYDERABAD, DATED: 23 RD DECEMBER, 2015 KV 3 ITA NO. 737 /HYD/2015 T. SARITHA COPY TO:- 1) DCIT, CENTRAL CIRCLE 2(1) 3 RD FLOOR, POSNETT BHAVAN, TILAK ROAD, RAMKOTE, HYDERABAD. 2) T. SARITHA, FLAT NO. 209, SAPPHIRE BLOCK, MY HO ME JEWEL, MADINAGUDA, HYDERABAD 500 050 3 CIT(A)-12, HYDERABAD 4) PR. CIT (CENTRAL), HYDERABAD 5) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDE RABAD.