DCIT, Circle-15(1), Hyd, Hyderabad V. Nuttakki Phanindra Bose, Hyd, Hyderabad

MA 42/HYD/2016

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5414 (ITAT-HYDERABAD)
• Duration Of Justice: 7 month(s) 12 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 03-03-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 28-10-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 21-07-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A SITARAMA RAO
• Assessee Lawyers: A V RAGHURAM
• Keywords: Audit objection; Tax effect

Judgement Text

1 MA.NO.42/HYD/2016 ARISING OUT OF ITA.NO.1391/HYD/20 15 SRI NUTAKKI PHANINDRA BOSE, HYDERABAD. IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER M.A.NO.42/HYD/2016 ARISING OUT OF ITA.NO.1391/HYD/2015 - ASSESSMENT YEAR 2009-2010 THE DCIT, CIRCLE-15(1), HYDERABAD. VS. SRI NUTTAKKI PHANINDRA BOSE HYDERABAD 16. PAN AEDPN6350R (APPLICANT) (RESPONDENT) FOR REVENUE : SHRI A. SITARAMA RAO FOR ASSESSEE : SHRI A.V. RAGHURAM DATE OF HEARING : 03.03.2017 DATE OF PRONOUNCEMENT : 03.03.2017 ORDER PER D. MANMOHAN, V.P. BY THIS APPLICATION, THE REVENUE SEEKS RECALL OF THE ORDER DATED 02.02.2016 ON THE GROUND THAT ITS CASE IS COVERED BY THE EXCEPTIONS PROVIDED IN PARA-8 OF THE CBDT CIRCULAR NO .21/2015 DATED 10 TH DECEMBER, 2015 WHEREIN IT IS STATED THAT IF A REVENUE AUDIT OBJECTION IS RAISED WHICH HAS BEEN ACCEPTED BY THE DE PARTMENT, EVEN THOUGH THE TAX EFFECT IS LESS THAN THE SPECIFIED LIMIT, AN APPEAL IS MAINTAINABLE. 2. WHEN THE CASE WAS POSTED FOR HEARING ON 03.02.201 7 THE THEN D.R. REFERRED TO CIRCULAR ISSUED BY CBDT IN 2011 TO STATE THAT WHENEVER THERE IS A REVENUE AUDIT OBJECTION, AN APPEAL CAN BE FILED BY THE REVENUE DESPITE LOW TAX EFFECT. AT THIS JUNCTURE, THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE PRESENT APPEA L IS FILED ON