JT. COMMISSIONER OF INCOME TAX (OSD), CENTRAL CIRCLE -1(3), HYDERABAD vs. NARAYANA REDDY VAKATI, HYDERABAD

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ITA 1225/HYD/2018Status: DisposedITAT Hyderabad29 April 2021AY 2008-093 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 noted that the tax effect in the appeal was below the threshold limit prescribed by CBDT circulars for filing appeals. Therefore, the appeal was dismissed on account of low tax effect.

What were the facts?

The Revenue filed an appeal before the ITAT against an order of the CIT(A). The appeal was filed for the assessment year 2008-09. The assessee was Sri Narayana Reddy Vakati.

What were the issues?

The primary issue was whether the Revenue's appeal was maintainable before the Tribunal given the low tax effect, as per the CBDT circulars.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD BENCHES “A” : HYDERABAD

Before: SHRI A.MOHAN ALANKAMONY & SHRI S.S.GODARA

For Revenue : Smt. Nivedita Biswas, DR For Assessee : NONE Date of Hearing : 04-03-2021 Date of Pronouncement : 29-04-2021 O R D E R PER S.S.GODARA, J.M. :

This Revenue’s appeal for AY.2008-09 is directed against the CIT(A)–11, Hyderabad’s order dated 27-02-2018 passed in appeal No.129 to 134/2016-17/DCIT CC-1(3), Hyd/17-18.

2.

At the time of hearing, it has been brought to our notice that as per the CBDT Circular No.03 of 2018 dated 11-07-2018 and Circular No.17 of 2019 dated 8th August, 2019, the tax limit for filing of appeal by the Revenue before the tribunal has been fixed at Rs.50 Lakhs with retrospective effect.

3.

After hearing both the sides and perusing the records as placed before us, we found that the appeal is covered by the aforesaid circular and is, therefore, not maintainable. Since the tax effect in this appeal is less than Rs.50 Lakhs, we are dismissing the same on account of low tax effect. However, the Revenue shall be at liberty to seek recall of the order, if this case is found to be falling within the exceptions mentioned in the circular(s) cited above.

4.

This Revenue’s appeal is dismissed.

Order pronounced in the open court on 29th April, 2021

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