Dy.Director of Income-Tax (Exemptions)-II, Hyderabad v. Bollineni Krishnaiah Charitable Trust, Hyderabad

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B : HYDERABAD BEFORE SMT. P. MADHAVI DEVI JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN ACCOUNTANT MEMBER ITA.NOS.1692 & 1693 /HYD/2014 ASSESSMENT YEARS 2009-2010 & 2010-2011 DY. DIRECTOR OF INCOME TAX (EXEMPTIONS)-II HYDERABAD. VS. BOLLINENI KRISHNAIAH CHARITABLE TRUST HYDERABAD. PAN AAATB7320G (APPELLANT) (RESPONDENT) C.O.NOS.73 & 74/HYD/2014 ARISING OUT OF ITA.NOS.1692 & 1693 /HYD/2014 ASSESSMENT YEARS 2009-2010 & 2010-2011 BOLLINENI KRISHNAIAH CHARITABLE TRUST HYDERABAD. PAN AAATB7320G VS. DY. DIRECTOR OF INCOME TAX (EXEMPTIONS)-II HYDERABAD. (APPELLANT) (RESPONDENT) FOR REVENUE : MR. B. KURMI NAIDU FOR ASSESSEE : MR. D.V. ANJANEYULU & MISS.P. PRAVALLIKA DATE OF HEARING : 20.01.2016 DATE OF PRONOUNCEMENT : 20 .01.2016 ORDER PER SMT. P. MADHAVI DEVI J.M. BOTH ARE REVENUES APPEALS FOR THE A.YS. 2009- 10 AND 2010-11 AND CROSS OBJECTIONS ARE OF THE ASSE SSEE. 2 ITA.NOS.1692 & 1693/H/2014 & C.O.NOS.73 & 74/H/2014 BOLLINENI KRISHNAIAH CHARITABLE TRUST HYD. 2. AT THE TIME OF HEARING THE LD. D.R. HAS DRAWN OUR ATTENTION TO THE FACT THAT THE TAX EFFECT IN BO TH THE APPEALS IS LESS THAN RS.10 LAKHS. ON VERIFICATION WE FOUND THAT FOR THE A.Y. 2009-2010 THE ADDITION CHAL LENGED BY THE REVENUE IS ONLY RS.14 16 000 WHILE FOR THE A .Y. 2010-2011 THE ADDITION CHALLENGED BY THE REVENUE IS AROUND RS.20 LAKHS AND THEREFORE THE TAX EFFECT IN BOTH THE APPEALS IS LESS THAN RS.10 LAKHS FOR RESPECTIVE ASSESSMENT YEARS. WE ALSO FIND THAT THE CROSS-OBJEC TIONS FILED BY THE ASSESSEE ARE ONLY IN SUPPORT OF THE OR DER OF THE LD. CIT(A). IN VIEW OF THE SAME REVENUES APPE ALS ARE DISMISSED ON ACCOUNT OF LOW TAX EFFECT IN VIEW OF C BDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER 2015 WHICH IS APPLICABLE TO THE PENDING APPEALS ALSO. THE CROSS- OBJECTIONS ARE ALSO DISMISSED AS NOT MAINTAINABLE. 3. IN THE RESULT APPEALS OF THE REVENUE AS WELL A S CROSS-OBJECTIONS OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 20.01.2016. SD/- SD/- (S. RIFAUR RAHMAN) (SMT. P. MADHAVI DEVI) ACOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD DATED 20 TH JANUARY 2016 VBP/- 3 ITA.NOS.1692 & 1693/H/2014 & C.O.NOS.73 & 74/H/2014 BOLLINENI KRISHNAIAH CHARITABLE TRUST HYD. COPY TO : 1. DY. DIRECTOR OF INCOME TAX (EXEMPTIONS) - II 3 RD FLOOR AAYAKAR BHAVAN BASHEERBAGH HYDERABAD. 2. BOLLINENI KRISHNAIAH CHARITABLE TRUST 6 - 2 - 913/914 5 TH FLOOR PROGRESSIVE TOWERS KHAIRATABAD HYDERABAD 500 004. 3. CIT(A) - IV HYDERABAD. 4 . DIT (E) HYDERABAD. 5 . D.R. ITAT B BENCH HYDERABAD. 6 . GUARD FILE