Income Tax Officer, Ward-4(1), Hyderabad V. Asha Gupta , Hyderabad

MA 31/Hyd/2020

• Counselvise Citation: [2020] 109 COUNSELVISE.COM (IT) 8761 (ITAT-HYDERABAD)
• Duration Of Justice: 5 month(s) 11 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 28-12-2020
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB-B
• Assessment Year: 2014-2015
• Appeal Filed On: 17-07-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Wrong claim; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B , HYDERABAD (THROUGH VIRTUAL HEARING) BEFORE MR. JUSTICE P. P. BHATT, PRESIDENT AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER M.A. NO.31/HYD/2020 (ARISING OUT OF ITA NO. 2069/HYD/2018) ASSESSMENT YEAR: 2014 - 15) INCOME TAX OFFICER, WARD - 4(1), HYDERABAD. VS. ASHA GUPTA, HYDERABAD. PAN: ABSPG 4306 L (APPELLANT) (RESPONDENT) ASSESSEE BY: SHRI K.C. DEVDAS REVENUE BY: SHRI ROHIT MUJUMDAR, DR DATE OF HEARING: 28/12/2020 DATE OF PRONOUNCEMENT: 28/12/2020 ORDER PER A. MOHAN ALANKAMONY, AM.: AT THE OUTSET, THE LD. AR REQUESTED THE BENCH FOR AN EARLY HEARING OF THE MISCELLANEOUS PETITION FILED BY THE REVENUE IN MA NO. 31/HYD/2020 SO THAT IF THE ORDER OF THE TRIBUNAL DATED 26 TH AUGUST, 2019 I S RECALLED THEN THE ASSESSEE WOULD BE ABLE TO AVAIL THE BENEFIT OF VIVAD - SE - VISHWAS SCHEME BEFORE 31 ST DECEMBER, 2020. THE LD. DR CONCEDED TO THE REQUEST OF THE LD. AR. CONSIDERING THE REQUEST OF THE 2 LD. AR, THE BENCH PROCEEDED TO HEAR THE MISCELLANEOUS PETITION FILED BY THE REVENUE INSTANTLY. 2. TH E MISCELLANEOUS PETITION IS FILED BY THE REVENUE SEEKING RECALLING THE ORDER PASSED BY THE TRIBUNAL IN THE CASE OF THE ASSESSEE ON THE BASIS OF LOW TAX EFFECT KEEPING IN VIEW OF THE CIRCULAR NO.17 OF 2019, DATED 9 TH AUGUST, 2019. 3 . AT THE OUTSET, THE LD. DR SUBMITTED BEFORE US THAT THE CASE DOES NOT FALL WITHIN THE PURVIEW OF THE CIRCULAR MENTIONED SUPRA BECAUSE THE CASE FALLS UNDER THE CATEGORY OF ORGANISED TAX EVASION SCAM AS THE ASSESSEE HAD MADE BOGUS CLAIM TOWARDS LONG TERM CAPITAL GAIN ON PENNY STOCK . THE LD. AR THOUGH OB JECTED TO THE SUBMISSION OF THE LD. DR THAT THE ASSESSEE HAD INDULGED IN ORGANISED TAX - EVASION SCAM, DID NOT HAVE ANY OBJECTION FOR RECALLING THE ORDER OF THE TRIBUNAL. 4. AFTER HEARING BOTH THE PARTIES, WE ARE OF THE VIEW THAT THE CIRCULAR OF THE CBDT M ENTIONED SUPRA WILL NOT BE APPLICABLE TO THE CASE OF THE ASSESSEE BASED ON WHICH THE TRIBUNAL HAD PASSED THE ORDER ON THE EARLIER INSTANCE . THEREFORE, WE HEREBY RECALL THE ORDER OF THE TRIBUNAL PASSED IN THE CASE OF THE ASSESSEE ON 26 TH AUGUST, 2019 AND POST THE APPEAL FOR HEARING ON 08/01/2021. THE REGISTRY IS HEREBY DIRECTED TO INTIMATE THE DATE OF HEARING TO BOTH THE PARTIES. 3 5 . IN THE RESULT, THE MISCELLANEOUS PETITION FILED BY THE REVENUE IS ALLOWED. PRONOUNCED IN THE OPEN COURT ON 28 TH DECEMBER , 2020. SD/ - SD/ - ( JUSTICE P.P. BHATT ) ( A. MOHAN ALANKAMONY ) PRESIDENT ACCOUNTANT MEMBER HYDERABAD, DATED: 28 TH DECEMBER , 2020. OKK COPY TO: - 1) SMT. ASHA GUPTA, 3 - 6 - 418/1, STREET NO.4, HIMAYAT NAGAR, HYDERABAD. 2) INCOME TAX OFFICER, WARD - 4(1), ROOM NO.743, 7 TH FLOOR, D - BLOCK, IT TOWERS, A.C GUARDS, MASAB TANK, HYDERABAD. 3) THE COMMISSIONER OF INCOME TAX (APPEALS) - 1, HYDERABAD. 4) THE PRINCIPAL COMMISSIONER OF INCOME TAX - 1, HYDERABAD. 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE