DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1(1)(2), BANGALORE vs. M/S BYDESIGN INDIA PVT LTD, BANGALORE

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ITA 269/BANG/2018Status: DisposedITAT Bangalore29 March 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 noted the revenue's submission to withdraw the appeal due to low tax effect. Consequently, the appeal filed by the revenue was dismissed.

What were the facts?

The revenue filed an appeal against the CIT(A)'s order for AY 2013-14. During the hearing, the revenue submitted a letter stating their intention to withdraw the appeal due to low tax effect, citing a CBDT circular.

What were the issues?

The primary issue was the revenue's withdrawal of its appeal based on low tax effect, as per CBDT circulars.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

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Income Tax Appellate Tribunal, “B” BENCH : BANGALORE

Before: SHRI ARUN KUMAR GARODIA & SHRI LALIET KUMAR

For Appellant: Shri Veerabasana Gouda, CA
For Respondent: Shri K.R. Narayana, JCIT (DR)
Hearing: 21.03.2019Pronounced: 29.03.2019

Assessment Year : 2013-14 M/s. Bydesign India Pvt. Ltd., The Deputy Commissioner Velankani Campus, of Income Tax, Phase – 1, vs. Circle – 1 (1) (2), Electronics City Phase – 1, Bangalore. Bangalore – 560 100. PAN: AABCB5845J APPELLANT RESPONDENT Assessee by : Shri Veerabasana Gouda, CA Revenue by : Shri K.R. Narayana, JCIT (DR) Date of hearing : 21.03.2019 Date of Pronouncement : 29.03.2019 O R D E R

Per Shri A.K. Garodia, Accountant Member

1.

This appeal is filed by the revenue and the same is directed against the order of ld. CIT (A)-1, Bangalore dated 27.10.2017 for Assessment Year 2013-14.

2.

The grounds raised

by the revenue are as under. “1. The order of the Learned CIT (Appeals), in so far as it is prejudicial to the interest of revenue, is opposed to law and the facts and circumstances of the case.

2. The Ld. CIT (A) erred in allowing the assessee's appeal on the issue of disallowance made u/s 14A r. w. Rule 8D as the said matter has not reached finality due to pendency of revenue's appeal before the Hon'ble High Court of Karnataka against the decision of Jurisdictional ITAT in the case of M/s Ambuthirtha Power Pvt. Ltd in dated: 07.07.2017 and an SLP before the Hon'ble Apex Court against the decision of Hon'ble High Court of Delhi in the case of M/s Chemvest Ltd (378 ITR 33 (Del)).

3. For these and such other grounds that may be urged at the time of hearing, it is humbly prayed that the order of the Ld. CIT (A) be reversed and that of the Assessing Officer be restored.

4. The appellant craves leave to add, to alter, to amend or delete any of the grounds that may be urged at the time of hearing of appeal.”

Page 2 of 2 3. In course of hearing, the ld. DR of revenue submitted copy of a letter dated 01.10.2018 written by DCIT, H.Qrs, in the office of Pr. CIT-1, Bangalore and it is stated in this letter that the present appeal is being withdrawn because of low tax effect in view of CBDT Circular No. 3/2018 dated 11.07.2018. In the enclosure to this letter, the amount of tax effect in the present case is mentioned as Rs. 12,60,942/-. In view of this, the appeal of the revenue is dismissed as withdrawn.

4.

In the result, the appeal filed by the revenue is dismissed. Order pronounced in the open court on the date mentioned on the caption page.

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