Income Tax Appellate Tribunal - Hyderabad
Asst. Commissioner Of Income Tax, ... vs The Singareni Colleries Company ... on 10 August, 2018
THE INCOME TAX APPELLATE TRIBUNAL.
HYDERABAD BENCH "B", HYDERABAD
BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER
AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER
ITA 1148/Hyd/2017
Assessment Year: 2012-13
ACIT, Circle-1, Vs. M/s The Singareni
Khammam Colleries Co ltd ,
Kothagudem
PAN: AAACT8873F
(Appellant) (Respondent)
Revenue by: Shri K.J. Rao
Assessee by: Shri Kiran
Date of hearing: 10.08.2018
Date of pronouncement: 10.08.2018
ORDER
PER P. MADHAVI DEVI, J.M.:
This appeal filed by the revenue is directed against the order dated 15.11.2016 of CIT(A)-7, Hyderabad for 2012-13. The assessee also filed CO against the said order.
2. It is stated before us that the tax effect in th is appeal is less than Rs.20 lakh and therefore the Circular No.3/2018 dated 11.07.2018 issued by the Central Board of Direct Taxes (CBDT) in exercise of its power vested under Sec. 268A(1) of the I.T. Act comes into play, wherein, the monetary limit for filing the appeals by the Revenue before the ITAT and various High Courts as well as Apex Court are 2 revised with an object of the reducing the tax litigation. Vide para 3 of the said circular (supra), it is stated that in cases where the tax effect in the appeals to be filed before the Appellate Tribunal does not exceed Rs.20 lakh, the appeals should not be filed. Thus, taking a note of CBDT Circular No. 03/2018, dated 11.07.2018 and considering the fact that the tax effect in the instant appeal is less than Rs.20 lakh, the present appeal deserves to be dismissed as not pressed/not maintainable. However, we make it clear that the issues raised in the instant appeal is left open to be examined in the appropriate proceedings, if arises, in future. At the same time , we also make it clear that if the appeal falls in any of the exceptions referred to in the above said CBDT Circular, the Revenue is at liberty to move an application for recalling the order, if so advised.
3. Accordingly, in the light of CBDT Circular No. 03/2018 dated 11.07.2018 the appeal stands dismissed. Since the revenue appeal is dismissed the CO stands infructuous and the same is dismissed as infructuous.
Pronounced in the open Court on 10.08.2018.
Sd/- Sd/-
(S. RIFAUR RAHMAN) (P. MADHAVI DEVI)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Hyderabad, Dated: 10.08.2018
kv
Copy to:-
1) ACIT, Circle -1, Khammam
2) M/s The Singareni Colleries Co ltd , Kothagudem C/o M/s The Singareni
Colleries Co. ltd., MG Road, Kothagudem.
3) The CIT(A)-7, Hyderabad
4) The Pr. CIT, Hyderabad
5) The DR, ITAT, Hyderabad
6) Guard File
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