DCIT, Central Circle-3(1), Hyd, Hyderabad V. Elem Investments Pvt.Ltd., Hyd, Hyderabad

ITA 856/HYD/2015

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 7106 (ITAT-HYDERABAD)
• Duration Of Justice: 4 year(s) 3 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-10-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 17-10-2019
• Assessment Year: 2004-2005
• Appeal Filed On: 24-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ARVIND DAKSHAN
• Keywords: Tax effect
• Section: 201

Judgement Text

IN THE INCOME TAX APP ELLATE TRIBUNAL HYDERABAD BENCH A, HYDERABAD BEFORE SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI V. DURGA RAO, JUDICIAL MEMBER S.NO. ITA NO. AY APPELLANT RESPONDENT 1 679 /H/1 5 2005 - 06 DY. COMMISSIONER OF INCOME - TAX, CENTRAL CIRCLE 3 (1), HYDERABAD. FINCITY INVESTMENTS PVT. LTD., HYDERABAD. PAN - AAACF 3011D 2 683 /H/1 5 2005 - 06 - DO - HIGHGRACE INVESTMENTS PVT. LTD., HYDERABAD. PAN - AAACE 4370L 3 855 /H/1 5 2004 - 05 - DO - FINCITY INVESTMENTS PVT. LTD., HYDERABAD PAN - AAACF 3011D 4 856/H/15 2004 - 05 - DO - ELEM INVESTMENTS PVT. LTD., HYDERABAD . PAN - AAACE 4370L DEPARTMENT BY : SHRI ARVIND DAKSHAN ASSESSEE BY : S HR I K.C. DEVDAS DATE OF HEARING : 1 7 /10/2019 . DATE OF PRONOUNCEMENT : 23 / 1 0 /201 9 . O R D E R PER V. DURGA RAO, J . M .: TH E S E APPEAL S BY THE REVENUE ARE DIRECTED AGAINST THE ORDER S OF COMMISSIONER OF INCOME TAX (APPEALS) - 12 , HYDERABAD FOR THE AYS 2004 - 05 AND 2005 - 06. 2. WHEN TH E S E APPEAL S ARE TAKEN UP FOR HEARING, LD.AR HAS SUBMITTED THAT THE TAX EFFECT INVOLVED IN TH E S E APPEAL S ARE BELOW RS.50.00 LAKHS 2 ITA NO S . 679 /H/1 5 AND OTHERS FINCITY INVESTMENTS PVT. LTD. AND OTHERS. AND AS PER THE CBDT CIRCULAR NO. NO.17/2019 , DATED 08/08/2019 , TH E S E APPEAL S ARE NOT MAINTAI NA BLE AND REQU ESTED FOR DISMISSAL OF THE SAME. 3 . ON THE OTHER HAND, LD. DR FAIRLY ACCEPTED THAT THE TAX EFFECT INVOLVED IN TH E S E APPEAL S ARE BELOW RS. 50.00 LAKHS . 4 . IN VIEW OF THE CBDT CIRCULAR NO.17/2019, DATED 08/08/2019 , WHICH WAS FOLLOWED BY N OTIFICATION NO.279/MISC/M - 93/2018 - ITJ, DATED 20 / 08 / 2019 WHEREIN IT WAS CLARIFIED THAT THE REVISED MONETARY LIMITS MENTIONED IN CIRCULAR NO.17/2019 ARE APPLICABLE TO ALL PENDING APPEALS ALSO , TH E S E APPEAL S FILED BY THE REVENUE ARE NOT MAINTAINABLE AND ARE DISMISSED ACCORDINGLY. 5. IN THE RESULT, ALL THE APPEAL S FILED BY THE REVENUE ARE DISMISSED . ORDER PRONOUNCED IN OPEN COURT ON TH IS 23 RD OCTOBER, 201 9 . SD/ SD/ - (A. MOHAN ALANKAMONY ) ( V. DURGA RAO ) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED : 23 RD OCTOBER , 201 9 . KV COPY TO: 1. M/S FINCITY INVESTMENTS PVT. L TD., 2) HIGHGRACE INVESTMENTS PVT. LTD., 3) ELEM INVESTMENTS PVT. LTD., R.K. RESIDENCY, H.NO. 8 - 3 - 229/D/32, FIRST FLOOR, VENKATAGIRI, YOUSUFGUDA, HYD. 4. D CIT, CENTRAL CIRCLE 3(1), HYD. 5. CIT (A) 12 , HYDERABAD. 6. CIT( CENTRAL), HYDERABAD 7. THE D.R . , ITAT, HYDERABAD. 8. GUARD FILE.