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Income Tax Appellate Tribunal - Hyderabad

M. Suryanarayana Reddy, Kadapa, Kadapa vs Department Of Income Tax on 18 December, 2015

       IN THE INCOME TAX APPELLATE TRIBUNAL
        HYDERABAD BENCHES "A" : HYDERABAD

 BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER
                     AND
  SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER

                      ITA.No.812/Hyd/2015
                     Assessment Year 2008-09

The ACIT, Circle-1                     Mr.   M.     Suryanarayana
Kadapa.                           vs., Reddy, Badvel-516 227.
                                       PAN ANHPM6087B
(Appellant)                            (Respondent)

                    For Revenue : Mr. M. Sitharam
                    For Assessee : Mr. K.A. Saiprasad

              Date of Hearing : 18.12.2015
      Date of Pronouncement : 18.12.2015

                                 ORDER

PER SMT. P. MADHAVI DEVI, J.M.

This appeal by the Revenue is directed against the order of the Ld. CIT(A), Kurnool (i/c.) dated 20.03.2015 for the A.Y. 2008-09.

2. At the outset, the Ld. Counsel for the assessee, Mr. K.A. Saiprasad, submitted that the tax effect in this appeal is less than Rs.10 lakhs and therefore, Revenue's appeal is liable to be dismissed in view of CBDT Circular No.21/2015 dated 10th December, 2015, to which Ld. D.R. has no objection.

3. On perusal of the CBDT Circular No.21/2015 dated 10th December, 2015, we find that the CBDT has 2 ITA.No.812/Hyd/2015 Mr. M. Suryanarayana Reddy, Badvel, Kadapa District.

fixed the monetary limit for filing of appeals before the Tribunal, Hon'ble High Court and Hon'ble Supreme Court respectively. The monetary limit fixed for filing of appeal before the Tribunal is Rs.10 lakhs and it is also clarified that the tax effect means the difference between the tax on the total income assessed and the tax that would have been chargeable on such total income being reduced by the amount of income in respect of the issues against which, appeal is intended to be filed and also that the tax will not include any interest thereon, except where chargeability of interest itself is in dispute. Para-10 of the instruction also clarifies that the instruction will apply retrospectively to pending appeals and appeals to be filed henceforth in the High Courts/ Tribunal and has directed the Department to either withdraw or not press the appeals below the specified tax limits. Duly taking note of the CBDT Circular No.21/2015 dated 10th December, 2015, we dismiss the appeal of the Revenue with liberty to the Revenue to seek recall of this order if this appeal falls within any of the exceptions provided in the Circular.

4. In the result, appeal of the Revenue is dismissed.

Pronounced in the open Court on 18.12.2015.

 Sd/-                      Sd/-
(S. RIFAUR RAHMAN)        (SMT. P. MADHAVI DEVI)
ACOUNTANT MEMBER             JUDICIAL MEMBER

Hyderabad, Dated 18 December, 2015 th VBP/-

ITA.No.812/Hyd/2015 Mr. M. Suryanarayana Reddy, Badvel, Kadapa District.

Copy to

1. The ACIT, Circle-1, Kadapa, Income Tax Office, Near RTC Bus Stand, Simhapuri Colony, Kadapa.

2. Mr. M. Suryanarayana Reddy, s/o. Venkata Reddy, D.No.12-130, Gandhi Nagar, Badvel - 516 227. Kadapa District. A.P.

3. CIT(A), Kurnool (I/c.)

4. CIT, Kurnool.

5. D.R. I.T.A.T. "A" Bench, Hyderabad.

6. Guard File