Deputy Commissioner of Income Tax,Circle-8(1), Hyderabad V. Vision Venture Private Limited , Hyderabad

MA 64/Hyd/2021

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 3293 (ITAT-HYDERABAD)
• Duration Of Justice: 11 month(s) 1 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-08-2022
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB-B
• Next Hearing Date: 04-08-2022
• Assessment Year: 2014-2015
• Appeal Filed On: 02-09-2021
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect; Tax effect

Judgement Text

64 THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD ‘B’ BENCH, HYDERABAD. BEFORE SHRI RAMA KANTA PANDA, ACCOUNTANT MEMBER AND SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER M.A. No.64/Hyd/2021 (In ITA No.782/Hyd/2019) Assessment Year : 2014-15 Dy. Commissioner of Income Tax, Circle 8(1), Hyderabad. Vs. M/s. Vision Ventures Pvt. Ltd., Hyderabad. PAN AABCV9519K (Appellant) (Respondent) Appellant By : None. Respondent By : Shri A.P. Babu Date of Hearing : 05.08.2022. Date of Pronouncement : 05.08.2022. O R D E R Per Shri Rama Kanta Panda, A.M. : The Revenue through this Miscellaneous Application requests the Tribunal to recall the order of the Tribunal on the ground that the same was dismissed on account of low tax effect whereas the issue falls within one of the exceptions mentioned in para No.10( c ) of Circular No.3 of 2018 Dt.11.07.2018 of CBDT. 2 M A No.64/Hyd/2021 2. None appeared on behalf of the assessee at the time of hearing despite issue of Notice. The order sheet entries also show that no one was appearing since last so many occasions when the M.A. was fixed for hearing. Therefore we deem it proper to decide the M.A. filed by the Revenue on the basis of material available on record and after hearing the learned Departmental Representative. 3. The learned Departmental Representative referring to the M.A. submitted that the Tribunal vide order dt.26.08.2019 dismissed the appeal filed by the Revenue on account of low tax effect. Subsequently, the Tribunal vide M.A. No.3/Hyd/2020 order dt.18.02.2020 recalled its earlier order on the ground that the case falls within one of the exceptions mentioned in para No.10(c) of Circular No.3 of 2018 Dt.11.07.2018 of CBDT. However, the Tribunal vide order dt.15.3.2021 inadvertently dismissed the appeal filed by the revenue on account of low tax effect without considering the fact that the case falls within the exceptions as per para No.10(c) of Circular No.3 of 2018 Dt.11.07.2018 3 M A No.64/Hyd/2021 of CBDT. He accordingly submitted that since the issue falls within one of the exceptions in para No.10(c) of Circular No.3 of 2018 Dt.11.07.2018 of CBDT cited (supra), the appeal cannot be dismissed on account of low tax effect and therefore the order of the Tribunal may be recalled and the issue to be decided on merits. 4. We have heard the learned Departmental Representative and perused the material available on record. Admittedly, the order of the Tribunal was recalled in M.A. No.3/Hyd/2020 Dt.18.02.2020 on the ground that the case falls within one of the exceptions mentioned in para No.10(c) of Circular No.3 of 2018 Dt.11.07.2018 of CBDT. However, the Tribunal inadvertently dismissed the appeal filed by the revenue on account of low tax effect. Since the issue involved in the appeal falls within one of the exceptions in para No.10(c) of Circular No.3 of 2018 Dt.11.07.2018 of CBDT cited (supra), therefore,. we recall the order of the Tribunal and the appeal is fixed for hearing on 20.09.2022. The Registry is directed to issue notice of 4 M A No.64/Hyd/2021 hearing to the parties fixing the date of hearing on 20.09.2022. 4. In the result, the M.A. filed by the revenue is allowed. Order pronounced in the open court on 05 th August, 2022. Sd/- Sd/- (K. NARASIMHA CHARY) (RAMA KANTA PANDA) Judicial Member Accountant Member Hyderabad, Dt.05.08.2022. * Reddy gp Copy to : 1. M/s. Vision Ventures Pvt. Ltd., 8-3-24/54/1A/6, Madhura Nagar, Hyderabad. 2. DCIT, Circle 8(1), Hyderabad. 3. Pr. C I T-5, Hyderabad. 4. CIT(Appeals)-5, Hyderabad. 5. DR, ITAT, Hyderabad. 6. Guard File. By Order Sr. Pvt. Secretary, ITAT, Hyderabad.