Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, HYDERABAD BENCHES “B”, HYDERABAD
Before: SMT. P. MADHAVI DEVI & SHRI A. MOHAN ALANKAMONY
PER Smt. P. MADHAVI DEVI, J.M. :
This appeal filed by the Revenue is for the AY.2011-12.
At the time of hearing, it has been brought to our notice that as per the CBDT Circular No.03/2018 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.
After hearing both the sides and perusing the records as placed before us, we found that this appeal is covered by the
:- 2 -: I.T.A. No.427/Hyd/2016 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 as apparently the case is not covered by any of the exceptions in the circular. However, the Revenue is at liberty to seek recall of the order, if this case is found to be falling within the exceptions mentioned in the circulars cited above.
In the result, the appeal filed by Revenue is dismissed.
Order pronounced in the open court on 27th November, 2019
Sd/- Sd/- ( A. MOHAN ALANKAMONY ) ( P. MADHAVI DEVI ) ACCOUNTANT MEMBER JUDICIAL MEMBER
Hyderabad, Dated 27th November, 2019 TNMM
:- 3 -: I.T.A. No.427/Hyd/2016 Copy to : 1. The Income Tax Officer, Ward-16(1), Hyderabad.
M/s.Ocimum Biosolutions (India) Ltd., Royal Demeure, Plot No.12/2, Sector-1, HUDA Techno Enclave, Madhapur, Hyderabad.
DRP-1, Bengaluru.
Director of Income Tax (IT & TP), Hyderabad.
Addl. Commissioner of Income Tax (Transfer Pricing), Hyderabad.
D.R. ITAT, Hyderabad.
Guard File.