ACIT, CIRLCE-16(2), HYD, HYDERABAD vs. OCIMUM BIOSOLUTIONS INDIA LTD., HYD, HYDERABAD

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ITA 427/HYD/2016Status: DisposedITAT Hyderabad27 November 2019AY 2011-123 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the appeal was not maintainable due to low tax effect as per CBDT Circulars No. 03/2018 and 17/2019. The Revenue was granted liberty to seek recall if exceptions applied.

What were the facts?

The Revenue filed an appeal before the ITAT for AY 2011-12. The tax effect in the appeal was below the threshold limit set by CBDT circulars for filing appeals.

What were the issues?

Whether the appeal filed by the Revenue is maintainable before the Tribunal given the low tax effect, as per the prevailing CBDT circulars.

AI-generated summary — verify with the full judgment below

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.

2.

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.

3.

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.

4.

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.

2.

M/s.Ocimum Biosolutions (India) Ltd., Royal Demeure, Plot No.12/2, Sector-1, HUDA Techno Enclave, Madhapur, Hyderabad.

3.

DRP-1, Bengaluru.

4.

Director of Income Tax (IT & TP), Hyderabad.

5.

Addl. Commissioner of Income Tax (Transfer Pricing), Hyderabad.

6.

D.R. ITAT, Hyderabad.

7.

Guard File.

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