Rc/39/2002 Of Commissioner Of Income Tax v. V. Chandrasekhar

THE HON’BLE SRI JUSTICE L.NARASIMHA REDDYANDTHE HON’BLE SRI JUSTICE CHALLA KODANDA RAMR.C.No.39 of 2002 ORDER:(per the Hon’ble Sri Justice L.Narasimha Reddy) This reference is made at the instance of the Revenue by theHyderabad Bench ‘B’ of the Income Tax Appellate Tribunal throughorder dated 03.11.1998 in R.A.No.356/Hyd/1994 in I.T.A.No.921/Hyd/1991, framing the following question: “Whether, on the facts and in the circumstances of thecase, the ITAT was correct, in law, in canceling the orderunder Section 263 of the Income Tax Act passed by the CITholding that the order under Section 143(1) was neithererroneous nor prejudicial to the interests of Revenue?” Heard Sri S.R. Ashok, learned Senior Counsel for the Revenue,Income Tax Department, and Dr.C.P.Ramaswamy, learned counsel forthe respondent. I.T.A.Nos.921 and 923/Hyd/1991 were dealt with by the Tribunaland disposed of through a common order dated 28.04.1994. In relationto I.T.A.No.923/Hyd/1991, the department filed R.A.No.358/Hyd/1994seeking a reference. The same was taken up by this Court asR.C.No.171 of 2000. Through order dated 24.06.2014, we declined toanswer the question since the subject matter was a meager sum ofRs.8,000/-. The same situation obtains in this case also. Therefore, we decline to answer the reference. L.NARASIMHA REDDY, J Date: 23.07.2014 CHALLA KODANDA RAM, J va