ACIT, CC-1(1), HYD, HYDERABAD vs. AKR CONSTRUCTIONS LTD., HYD, HYDERABAD

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ITA 784/HYD/2015Status: DisposedITAT Hyderabad11 June 2021AY 2011-122 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the Revenue's appeals. This was because the tax effect involved in each appeal was less than the prescribed limit of Rs. 50 lakhs as per the CBDT Circular.

What were the facts?

The Revenue filed appeals against the orders of the CIT(Appeals) for assessment years 2011-12, 2009-10, and 2010-11. The appeals involved specific sums of money for each assessment year.

What were the issues?

Whether appeals involving a tax effect below the prescribed monetary limit are maintainable. The applicability of CBDT circulars regarding tax effect on pending appeals.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 153C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD ‘ B ‘ BENCH, HYDERABAD.

Before: SHRI S.S. GODARA & SHRI L. P. SAHU

For Appellant: Shri B. Balakrishna (D.R)

Asst. Commissioner of Income Tax, Central Circle 1(1), Hyderabad. …..Appellant. Vs. M/s. AKR Construction Ltd., Hyderabad. PAN AAFCA 0649H …..Respondent. Appellant By : Shri B. Balakrishna (D.R) Respondent By : None. Date of Hearing : 7.6.2021. Date of Pronouncement : 11.06.2021. O R D E R Per Bench : These Revenue’s appeals arises from the Commissioner of Income Tax (Appeals)-XI, Hyderabad’s orders dt.12.03.2015 (for A.Y.2011-12 passed in case No.0194/Circle-1(1)/CIT(A)-VI/13-14); dt.12.02.2016 (for A.Y. 2009-10 passed in case No.0201/Circle 1(1)/CIT(A)-11/13-14/15-16) and dt.24.02.2016 (for A.Y. 2010-11 passed in case No.0193/Circle 1(1)/CIT(A)- 11/13-14) in proceedings under Section 143(3) r.w.s 153C of Income Tax Act, 1961 (‘the Act’).

1003 & 1004/Hyd/2016 Heard both the parties. Case file perused.

2.

It transpires at the outset that the department has sought to raise substantive grounds involving corresponding sums of Rs.39,13,064 (AY 2011-12); Rs.42,43,157(AY 2009-10) and Rs.41,21,892 (AY 2010- 11) respectively i.e. less than having the prescribed tax effect of Rs.50 lakhs as per CBDT Circular dt.08.08.2019 having retrospective effect qua pending appeals as well. These appeals of Revenue are dismissed for involving lower tax effect of less than Rs.50 lakhs therefore.

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