ITO, Ward-16(2), Hyderabad v. M/s. Matrix Power P. Ltd, Hyderabad

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B' HYDERABAD BEFORE SHRI CHANDRA POOJARI ACCOUNTANT MEMBER AND SMT. ASHA VIJAYARAGHAVAN JUDICIAL MEMBER M.A. NO. 227/HYD/2011 IN ITA NO. 1661/HYD/2010) (ASSESSMENT YEAR : 2006-07) M.A. NO. 228/HYD/2011 IN ITA NO. 1662/HYD/2010) (ASSESSMENT YEAR : 2003-04) INCOME TAX OFFICER WARD-16(1) HYDERABAD VS. M/S. MATRIX POWER PVT. LTD. HYDERABAD PAN: AACCM2002M APPELLANT RESPONDENT APPELLANT BY: SHRI B.V. PRASAD REDDY RESPONDENT BY: SHRI A.V. RAGHU RAM DATE OF HEARING: 3 0.03.2012 DATE OF PRONOUNCEMENT: 30 .03.2012 O R D E R PER CHANDRA POOJARI AM: THESE TWO MISCELLANEOUS APPLICATIONS (MAS) BY THE REVENUE ARISE OUT OF THE ORDER OF THE TRIBUNAL DATED 9 TH JUNE 2011 IN I.T.A. NOS. 1661 & 1662/HYD/2010. 2. IN THESE MAS THE DEPARTMENT'S GRIEVANCE IS THAT TH E TRIBUNAL OUGHT TO HAVE DECIDED THE ISSUE ON MERIT I NSTEAD OF DISMISSING THE APPEALS BY PLACING RELIANCE ON INSTR UCTION NO. 5 DATED 16.7.2007 (F. NO. 279/MISC. 56/07-ITJ) ISSUED BY THE CBDT. 3. THE LEARNED DR SUBMITTED THAT THE TAX EFFECT IN THE SE APPEALS IS MORE THAN RS. 3 LAKHS AND THE ABOVE ORDE R OF THE TRIBUNAL SHOULD BE RECALLED TO DECIDE THE ISSUE ON MERIT. M.A. NOS. 227 & 228/HYD/2011 M/S. MATRIX POWER PVT. LTD. ======================== 2 4. THE LEARNED COUNSEL FOR THE ASSESSEE DID NOT SERIOU SLY OPPOSE THE ARGUMENT OF THE DR. 5. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE MATE RIAL AVAILABLE ON RECORD AND ALSO THE ORDER OF THE TRIBU NAL. WE FIND MERIT IN THE ARGUMENT OF THE LEARNED DR. CONSIDERI NG THE FACTS AND CIRCUMSTANCES OF THE CASE WE ARE INCLINED TO R ECALL THE ORDER OF THE TRIBUNAL. ACCORDINGLY THE ORDER OF THE TRI BUNAL IN I.T.A. NOS. 1661 & 1662/HYD/2010 DATED 9 TH JUNE 2011 IS HEREBY RECALLED AND THE ABOVE DEPARTMENTAL APPEALS ARE RES TORED ON THE FILE OF THE TRIBUNAL. THESE APPEALS ARE POSTED FOR HEARING ON 17.7.2012. NO FURTHER NOTICE OF HEARING SHALL BE S ENT TO THE PARTIES AS THE DATE OF HEARING WAS ANNOUNCED IN THE OPEN COURT AND THIS ORDER ITSELF WOULD SERVE AS A NOTICE OF HE ARING. 6. IN THE RESULT MAS FILED BY THE REVENUE ARE ALLOWED . ORDER PRONOUNCED IN THE OPEN COURT ON 30 TH MARCH 2011. SD/ - (ASHA VIJAYARAGHAVAN) JUDICIAL MEMBER SD/ - (CHANDRA POOJARI) ACCOUNTANT MEMBER HYDERABAD DATED THE 30 TH MARCH 2012 COPY FORWARDED TO: 1. THE INCOME TAX OFFICER WARD - 16(2) HYDERABAD. 2. M/S. MATRIX POWER PVT. LTD. 8 - 2 - 277/12 NO. 296 ROAD NO. 3 UBI COLONY BANJARA HILLS HYDERABAD. 3. THE CIT (A) - V HYDERABAD. 4. THE CIT - I V HYDERABAD. 5. THE DR B BENCH ITAT HYDERABAD TPRAO