ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE1-(2), HYDERABAD vs. SUNIL NARANG, HYDERABAD

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ITA 57/HYD/2021Status: HeardITAT Hyderabad19 October 2022AY 2017-182 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 ITAT dismissed the appeal filed by the Revenue. This was done on account of the low tax effect, as per the CBDT circulars.

What were the facts?

The Revenue filed an appeal before the Income Tax Appellate Tribunal (ITAT) against an order of the CIT(A) for AY 2017-18. The tax effect in the appeal was below the threshold limit set by CBDT circulars.

What were the issues?

The primary issue was whether the appeal filed by the Revenue should be dismissed due to a low tax effect, as stipulated by CBDT circulars.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Hyderabad ‘ B ‘ Bench, Hyderabad

Before: Shri R.K. Panda & Shri Laliet Kumar

For Appellant: Shri P. Murali Mohan Rao, CA
For Respondent: Shri K. Madhusudan, CIT(DR), Shri P. Murali Mohan Rao, CA
Hearing: 19/10/2022Pronounced: 19/10/2022

आयकर अपील�य अ�धकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘ B ‘ Bench, Hyderabad Before Shri R.K. Panda, Accountant Member AND Shri Laliet Kumar, Judicial Member Assessment Year: 2017-18 A.C.I.T Vs. Shri Sunil Narang Central Circle 1(2) Hyderabad Hyderabad PAN:ABFPN3762L (Appellant) (Respondent) Revenue by: Shri K. Madhusudan, CIT(DR) Assessee by: Shri P. Murali Mohan Rao, CA Date of hearing: 19/10/2022 Date of pronouncement: 19/10/2022 ORDER Per R.K. Panda, A.M This appeal filed by the Revenue is directed against the order dated 11.9.2020 of the learned CIT (A)-11, Hyderabad relating to A.Y.2017-18.

2.

At the time of hearing, it has been brought to our notice that as per the CBDT Circulars No.03/2018 dated 11.7.2018 and Circular No.17 of 2019, dated 9th August, 2019, the tax limit for filing of appeal by the Revenue before the Tribunal has been fixed at Rs.50.00 lakhs. Since the tax effect in this appeal is less than Rs.50.00 lakhs, we are dismissing the same on account of low tax effect with the liberty to the Revenue to seek recall of the order, if the appeal falls within the exceptions mentioned in the circulars cited above.

3.

In the result, appeal filed by the Revenue is dismissed as withdrawn. Order pronounced in the Open Court itself i.e. 19th October, 2022.

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