Rc/22/2001 Of M/S Natural Resources Development Society Ltd v. Commissioner Of Income Tax

HON’BLE SRI JUSTICE G. CHANDRAIAH&HON’BLE SRI JUSTICE CHALLA KODANDA RAM R.C.No.22 of 2001 ORDER:- (Per Hon’ble Sri Justice Challa Kodanda Ram) Heard Sri S.R.Ashok, learned Senior Standing Counsel for Income-taxand assisted by Sri S.Sashidhar Reddy, learned Standing Counsel for Income-tax for the Revenue and none appeared for the applicant. This Application is filed by the Applicant under Section 256(1) of theIncome-tax Act, 1961 (for short “the Act”) challenging the order dated08.09.1998 of the Income Tax Appellate Tribunal, Hyderabad Bench-A,Hyderabad in I.T.A.No.333/Hyd/88relating to the assessment year 1982-83. Considering the various departmental Instructions issued by theCentral Board of Direct Taxes and in the light of Section 268-A of the IncomeTax Act, 1961, this Court, by order dated 24.01.2014 in W.T.A.No. 24 of 2004and batch, took a view that the appeals, where the tax effect is below themonetary limits prescribed in the Instructions, need to be dismissed. In the light of the above decision, we see from the order of assessmentdated 28.02.1986that the tax liability was determined at Rs.1,36,938/-. In viewof the fact that the quantum of liability involved in the present case being lessthan the amount specified in the Circular issued by the Central Board of DirectTaxes (C.B.D.T.), we are not inclined to examine the appeal on merits. The referred case is accordingly dismissed. No order as to costs. As a sequel to the dismissal of the appeal, Miscellaneous Petitions, if anypending, shall stand disposed of as infructuous. _____________________ G. CHANDRAIAH, J Date: 18.02.2014Gk ____________________________ CHALLA KODANDA RAM, J HON’BLE SRI JUSTICE G. CHANDRAIAH & HON’BLE SRI JUSTICE CHALLA KODANDA RAM Gk R.C.No.22 of 2001 18.02.2014