Counsel For The : Srl. J v. Sc For Income Tax Dept

IN HIGH COURT FOR THE STATE QF TELANGANA AT HYDERABAD THURSDAY,THE THIRD DAY OF AUGUSTTWO THOUSAND AND TWENTY THREE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYANDTHE HONOURABLE SRI JUSTICE LAXMI NARAYANA ALISHETW INCOME TAX TRIBUNAL APPEAL NO: 508 OF 2016 (lncome Tax Tribunal Appeal Under Section 260-A of the lncome Tax Act, againstthe order of the lncome Tax Appellate Tribunal, Hyderabad Bench 'B', Hyderabad inITA No.402lHydl2OO1 , for assessment Year 1996-'1997 dated 2O-O7 -2007 preferredagainst the Order of the Commlssioner of lncome Tax Appeals V Central Hyderabad,Appeal No.1 16/CC-2lClT(A)V(Cent) 1 998-1999 dated 13-O2-2OO1 , preferred againstthe Order of the Deputy Commissioner of lncome Tax, PAN/GIR No.N-2/CC-ll.Hyd,dated 30-03-1999.) Between: The Commissioner of Income Tax lV, Hyderabad ...APPELLANT AND [\//s. Novopan lndustries Limited, 1-'10-60/3, Suryodaya,2nd Floor, Begumpet,Secunderabad. ...RESPONDENT Counsel for the : SRl. J. V. PRASADAppellant Appellant SC FOR INCOME TAX DEPT Counsel for the Respondent : None appeared The Court made the following: THE HON'BLE SRI JUSTICE P.SAM KOSTIY AND THE HON'BLE SRI JUSTICE A. LAXMI NARAYANA I.T.T.A. No. 5O8 of 2O16 .rUQ9_!4E_NI: rp., i L : t, t b k '; r ,ltlsltc( P-SAM KOSHr) Heard Sri.J.V.prasad, Iearned Sr:;tior Standing Counsel appeanng lorthc appellanrthc appellanr 2 Ih is appcrrl u ndcr Scr tion 2(t0A of the [ncome Tax Act,196 1, hasbccn preferrcd by the Revenue ns the appellant againstthe ordcr<h.2(,-O'i.2OOi passe<l Lr1, thc inconrc .fa-x Appellate Tribunal,IlyderabadIJench 'B'Ilydcrabad, in I.T.A.No.4O2 lLJyd/2OOl for the Assessmcnl year,99{) 9'/ 3. Central lloarct of Drrcct Taxes (CBDI.) has issued Circular lr,lo.17 of2tJl9 dt Ot;.Og .l(.)i9. ;rrrre.ndins Lhr prc, ious Cirr:ul:rr ^{o.lJ of 2i) l8dr.l) C7 20ltj. L,r hrirircr cr.rhairr.ing 1he nlonetar.,. Iimits frrr liling apr,,ears.y r.hc Income ['['a_x ]I)cpar.trncnr bt.fi,r: thc lncome Tax Appeilate Tribunii,sHrgh Courts ancl Suprcrnr: Court as a measure for recJucing litigation. Inpar aqraph 1l .1 t hc saicr tri r:ur:rr. r,r'e fi.r.1 rhat the [ronetal.y rrmit ti.re:ci firrfiling an appcal bclorc t hc trigll CrIrrt rs Rs. LOO cr.ore. 4.irr tii(' rnst:rrtr. appcal_ l:rx cflcci is rvcll l;elLti;r, the mone tary ltmit .r, 'lher,-[.ri.. th. app<r:,i tiicrl t.,.., rltc l)t,part,nent is dismissed in r-crn.rs oftlLl' ritirrr's;iitl Lrrrr'urar' :'Jr: ll' ur 2()19 dt.ug cg.z0r9. However, lr.thc aDpcalcor;rt s u'itriin thc i;<cclrtiOr. ulrdcr r)21f.:r[jfaph lo of c]ircirri.r No.3 0i 20 i.i. ir \ would be open to the Income Ta;< Department to seek rcvival o[ the appcalNo order as to costs. 6. Consequently, miscellaneous petitions pending, if any, shaii standclosed Sd/- B.S. CHIRANJEEVIJOINT REGISTRARcb //TRUE COPY// SECTION OFFICER To, 1 Ih9 lncom.e Tax Appellate Tribunal, Hyderabad Bench [,B',]Hyderabad(with records, if any)Hyderabad(with records, if any) 2. The Commissioner of lncome Tax(Appeals_V) Central Hyderabad 3 Ihg Deputy Commissioner of lncome Tax, Central Circle_ll,HyderabadHyderabad 4. One CC to SRt. J. V. PRASAD, SC FOR TNCOME TAX DEPT. tOpUCltOpUCl 5. Two CD Copies DL HIGH COURT DATED:03/08/2023 JUDGMENTITTA.No.508 of 2016 DISMISSING THE ITTA.@-q'3wAi\q,3 {[$E ] 14:tJ3 01 sEP ml2AC)**D,6SpAreri