ACIT, CIRCLE-1, ANANTAPUR, ANANTAPUR vs. THE TADPATRI CO OPERATIVE TOWN BANK LIMITED, TADIPATRI, ANANTAPUR

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ITA 1388/HYD/2016Status: DisposedITAT Hyderabad06 November 2019AY 2013-142 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 appeal. This was based on CBDT Circulars which set a monetary limit for filing appeals before the Tribunal. The tax effect in this appeal was below the prescribed limit.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order which deleted additions of Rs. 1,40,08,765/- and Rs. 6,70,924/-. The appeal was filed for the Assessment Year 2013-14.

What were the issues?

Whether the Revenue's appeal is maintainable before the Tribunal given the monetary limits prescribed by CBDT circulars for filing appeals.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 250(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD BENCH “B”, HYDERABAD

Before: SMT. P. MADHAVI DEVI & SHRI A. MOHAN ALANKAMONY

For Appellant: CA - AR
Hearing: 06/11/2019Pronounced: 06/11/2019

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “B”, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA No.1388/Hyd/2016 Assessment Year: 2013-14 Asst. Commissioner of Vs. M/s. Tadpatri Income Tax, Cooperative Town Bank Circle-1, Limited, Anantapur. Tadipatri. PAN: AAEFT 2413 J (Appellant) (Respondent) Assessee by: Sri K.A. Sai Prasad, CA - AR Revenue by: Sri A.S. Sant, DR Date of hearing: 06/11/2019 Date of pronouncement: 06/11/2019 ORDER PER A. MOHAN ALANKAMONY, AM.:

This appeal is filed by the Revenue against the order of the Ld. CIT(A), Kurnool in ITA No.0197/CIT(A), Knl/2015-16, dated 22/07/2016 passed U/s. 143(3) r.w.s 250(6) of the Act for the A.Y. 2013-14.

2.

The Revenue has raised the following grounds in its appeal:-

“1. That on the facts and in the circumstances of the case, the Ld. CIT(A) erred in deleting the addition of Rs. 1,40,08,765/- and Rs. 6,70,924/- being interest accrued. 2. Any other ground that may be urged at the time of hearing.”

3.

At the time of hearing it has been brought to our notice that as per the CBDT Circulars No.03/2018 dated 11.07.2018 and Circular No.17 of 2019 dated 9th August, 2019, the tax limit for filing appeal by the Revenue before the Tribunal has been fixed at Rs.50.00 lakhs and above. Therefore, since the tax effect in the present appeal before us is less than Rs.50.00 lakh, we hereby dismiss the same with liberty to the Revenue to seek recall of the order, if the appeal falls within the exceptions mentioned in the Circulars of the CBDT.

4.

In the result, the appeal filed by the Revenue is dismissed.

Pronounced in the open Court on 06th November, 2019.

Sd/- Sd/- (P. MADHAVI DEVI) (A. MOHAN ALANKAMONY) JUDICIAL MEMBER ACCOUNTANT MEMBER Hyderabad, Dated: 06th November, 2019 OKK Copy to:- 1) M/s. Tadpatri Cooperative Town Bank Limited, D.No. 455, Municipal Complex, C.B. Road, Tadipatri, Anantapur Dist-AP. 2) ACIT, Circle-1, Aayakar Bhavan, 3rd Floor, New Town, Anantapur. 3) The CIT(A), Kurnool. 4) The Pr. CIT, Kurnool. 5) The DR, ITAT, Hyderabad 6) Guard File

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