Asst. Commissioner of Income Tax, (Exemptions), Hyderabad V. Sri Venkata Sai Educational Society , Hyderabad

MA 6/Hyd/2020

• Counselvise Citation: [2020] 109 COUNSELVISE.COM (IT) 7391 (ITAT-HYDERABAD)
• Duration Of Justice: 9 month(s) 28 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 18-12-2020
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: Hyderabad
• Assessment Year: 2014-2015
• Appeal Filed On: 20-02-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SUNIL KUMAR PANDEY
• Assessee Lawyers: V SIVA KUMAR
• Keywords: Tax effect
• Section: 254(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A , HYDERABAD BEFORE S MT P. MADHAVI DEVI , JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY , ACCOUNTANT MEMBER M.A. NO. 06 /HYD/20 20 (IN ITA NO. 2041 /HYD/201 8 ASSESSMENT YEAR: 20 14 - 15 ) ASST. COMMISSIONER OF INCOME - TAX (EXEMPTIONS), HYDERABAD. VS. M/S VENKATA SAI EDUCATIONAL SOCIETY, HYDERABAD. PAN AABTS9158C (APPELLANT) (RESPONDENT) REVENUE BY : S HRI SUNIL KUMAR PANDEY ASSESSEE BY : SHRI V. SIVA KUMAR DATE OF HEARING : 1 8 / 12 /20 20 DATE OF PRONOUNCEMENT : 18 / 12 /20 20 O R D E R PER P. MADHAVI DEVI , J .M . : TH IS MISCELLANEOUS APPLICATION IS FILED BY THE REVENUE U/S 254(2) OF THE INCOME TAX ACT SEEKING RECALL OF THE ORDER OF THE TRIBUNAL DATED 26 /1 2 /2018 IN ITA NO. 2041 /HYD/201 8 . 2. IN THE M.A., IT IS MENTIONED THAT THE ITAT HAS DISMISSED THE APPEAL OF THE REV ENUE ON THE GROUND OF LOW TAX EFFECT AS PER CIRCULAR NO. 2 OF 2018 DATED 11/07/2018 AND CIRCULAR NO. 17 OF 2019 DATED 9 TH AUGUST, 2019 AND THAT LIBERTY WAS GIVEN TO THE REVENUE TO RECALL OF THE ORDER IF THE APPEAL FALLS WITHIN THE EXCEPTIONS MENTIONED THE CIRCULARS CITED ABOVE. 2 M.A.NO. 6 /HYD/20 20 SRI VENKATA SAI EDUCATIONAL SOCIETY, HYD. 3. IT IS SUBMITTED THAT THE ACTUAL TAX EFFECT IN THE APPEAL IS 1,93,31,671/ - AND THEREFORE, IT IS NOT BELOW THE MANDATORY LIMITS PRESCRIBED BY THE CBDT. REVENUE IS THEREFORE SOUGHT RECALL OF THE ORDER OF THE TRIBUNAL. 4. THE LD. C OUNSEL FOR THE ASSESSEE WAS ALSO HEARD. SINCE THE TAX EFFECT IS MORE THAN THE PRESCRIBED LIMIT , THE ORDER OF THE TRIBUNAL DATED 26/08/2019 IS RECALLED AND THE APPEAL IS FIXED FOR HEARING ON 18/01/2021. AS THE DATE OF HEARING OF THE APPEAL IS ANNOUNCED IN THE PRESENCE OF BOTH THE PARTIES IN THE OPEN COURT , NO NOTICE IS REQUIRED TO BE ISSUED. 5. IN THE RESULT, MA FILED BY THE REVENUE IS ALLOWED. PRONOUNCED IN THE OPEN COURT ON 18 TH DECEMBER, 2020. (A. MOHAN ALANAKMONY ) (P. MADHAVI DEVI) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED: 18 TH DECEMBER, 2020. KV C OPY TO: - 1) ACIT (EXEMPTIONS) , HYDERABAD. 2) SRI VENKATA SAI EDUCATIONAL SOCIETY, HYDERABAD. 3) CIT(A) 9 , HYD. 4) CIT 2 , HYDERABAD. 5 ) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDERABAD. 6 ) GUARD FILE