DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(1), BANGALORE vs. M/S TECHNOART CONTRUCTIONS PVT LTD, BANGALORE

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ITA 190/BANG/2019Status: DisposedITAT Bangalore01 October 2020AY 2010-113 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 Revenue's appeal was below the CBDT's monetary limit, and the assessee's counsel also stated they were not pursuing the cross-objection. Therefore, both the appeal and cross-objection were dismissed.

What were the facts?

The Revenue filed an appeal and the assessee filed a cross-objection for the assessment year 2010-11. The tax effect in the Revenue's appeal was below the monetary limit prescribed by the CBDT.

What were the issues?

The primary issue was whether the Revenue's appeal should be pursued given the low tax effect, and whether the assessee wished to pursue their cross-objection.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C’’ BENCH: BANGALORE

Before: SHRI N.V. VASUDEVAN & SHRI B.R. BASKARAN, ACCOUTANT MEMBER

For Appellant: Smt. R. Premi, D.R
For Respondent: Shri R. Ramamurthy, A.R
Hearing: 01.10.2020Pronounced: 01.10.2020

Heard together (2 matters)

ITA No.190/Bang/2019
CO No.20/Bang/2019

Read from the judgment's own cause title. This page is filed under one of them.

PER B.R. BASKARAN, ACCOUNTANT MEMBER:

1.

The appeal filed by the revenue and the cross objection filed by the assessee are directed against the order dated 09-011-2018 passed by Ld CIT(A)-7, Bengaluru and they relate to the assessment year 2010-11.

2.

At the time of hearing, the Ld D.R submitted that the tax effect involved in the appeal of the revenue is less than the monetary limit of Rs.50.00 lakhs fixed by the CBDT in its Circular no.17/2019 dated 08-08-2019. Accordingly, the Ld D.R submitted that the revenue is precluded from pursuing this appeal.

3.

The Ld A.R agree with the submission made by Ld D.R. He further submitted that he is also not pursuing the cross objection filed by the assessee.

4.

In view of the foregoing, the appeal of the revenue and the cross objection filed by the assessee are liable to dismissed. We order accordingly.

5.

In the result, the appeal of the revenue and the cross objection of the assessee are dismissed. Order pronounced in the open court on 1st Oct, 2020.

Sd/- Sd/- (N.V. Vasudevan) (B.R. Baskaran) Vice President Accountant Member Bangalore, Dated 1st Oct, 2020. VG/SPS

CO No.20/Bang/2019 M/s. Technoart Constructions Pvt. Ltd., Bangalore

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