Counsel Forthe Respondent: Sri A v. Raghu Ram

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD TUESDAY, THE EIGHTEENTH DAY OF FEBRUARYTWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYAND THE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO: 269 OF 2012 Appeal filed under Section 260(A) of the lncome-Tax Act, against the orderdated. 27 -06-2008 passed in lTA.No.991/Hydl2OOG for Assessment Year 2003-2004on the file of the lncome Tax Appellate Tribunal Hyderabad Bench ['B', ]Hyderabadpreferred against the Order dated. 21-08-2006 passed in ITA No.3-19 lo 322lAClT-16(1)/CIT(A)-V/2005-06 on the file of the Commissioner of lncome Tax (Appeals)-V,Hyderabad preferred against the Order dated: 22-02-2004 passed in PAN/GIR No.A/vqCN7326D on the file of the Assistant Commissioner of lncome Tax, Circle-16(1),Hyderabad. Between: The Commissioner of lncome Tax - lV, Hyderabad. ...APPELLANT AND Nagarjuna Aqua Exports Ltd., 6, Nagarjuna Hills, Punjagutta, Hyderabad - 82. .,.RESPONDENT Counsel for the Appellant: Ms. B. SAPNA REDDY, JUNIOR S.C. REP. SRI J.V. PRASAD, SENIOR S.C. INCOME TAX DEPT. Counsel forthe Respondent: SRI A. V. RAGHU RAM The Court delivered the following: JUDGMENT II THE HONOURABLE [P.SAM ] ANDTHE HONOT]RABLE [R,'\O]NANDIKONDA ITTANo.[269][oF ][2012] (per Hnn'ble Sri Justice [P.Sam Koshy)] JUDGMENT Heard Ms. [B.Sapna ][Reddy, ][leamed ][Junior ][Standing]Counsel representing [Mr. ][J.V.Prasad, ][learned ][Senior ][S:anding]Counsel for [the Income Tax Department ][for ][the ][appellant' ]['l)erused]the record. This appeal appeal [[under ][Section ]][[Section ]][[260.4 ][of ][the ][Income ]][[of ][the ][Income ]][[the ][Income ]][[Income ]][['[ax ][Act']][[Act']] 2. This appeal appeal [[under ][Section ]][[Section ]][[260.4 ][of ][the ][Income ]][[of ][the ][Income ]][[the ][Income ]][[Income ]][['[ax ][Act']][[Act']]lg6l,hast,eenpreferredbytheRevenueastherrppellantthe [rrlder ][dated 27.06-2008 passed ][by ][the ][lnc'rme ][Tax]against Appellate l'ribunal, [Hyderabad ][Bench ]['B', ][Hyder:rbad' ][in]I.T.A.No.99lltryD/2006 [for ][the ][Assessment ][Year ][2003-0'+'] 3. Central Board [of ][Direct ][Taxes ][(CBDT) ][has ][issued ][Circular]No.9 of 2024 dated [17.09.2024, ][amending ][the ][previou:' Circular]No.5 of 2024 dated [15.03'2024, ][by ][further ][enhancing the monetary]limits for filing appeals [by the Income Tax Department ][before the]Income ['fax ]r\ppe1late [Tribunals, ][High ][Courts and ][Supre'me ][Court] I , as a measure for reducing litigation. In paragraph 2 of the saidCircular, we find that the monetary limit fixed for filing an appealbefore the High Court is Rs.2.00 crore.Circular, we find that the monetary limit fixed for filing an appealbefore the High Court is Rs.2.00 crore. 4. In the instant appeal, tax effect is well below the monetarylimit. 5. Therefore, the appeal filed by the Department is dismissed interms of the aforesaid Circular No.9 of 2024 dated 17.09.2024.T{owever, if the appeal comes within the exception of CircularNo.5 of 2024, it would be open to the Income Tax Department toseek revival ofthe appeal. There shall be no order as to costs. 6. Consequently, miscellaneous petitions pending, if any, shall stand closed. SD/.K.SRINIVASA RAOJOINT REGISTRARJOINT REGISTRAR //TRUE COPY// s CTION OFFICER To,1The lncome Tax Appellate Tribunal Hyderabad Bench 'B', Hyderabad2The Commissioner of lncome Tax (Appeals)-V, HyderabadThe Assistant Commissioner of lncome Tax, Circle-16(1), Hyderabad.1The lncome Tax Appellate Tribunal Hyderabad Bench 'B', Hyderabad2The Commissioner of lncome Tax (Appeals)-V, HyderabadThe Assistant Commissioner of lncome Tax, Circle-16(1), Hyderabad.4One CC to Sri J.V. Prasad, S.C. for lncome Tax 5One CC to Sri A. V. Raghu Ram, Advocate CtTwo CD CopiesPlp/PSLCtTwo CD CopiesPlp/PSL HIGH COURT DATED:1810212025 6. Consequently, miscellaneous petitions pending, if any, shall stand closed. SD/.K.SRINIVASA RAOJOINT REGISTRARJOINT REGISTRAR //TRUE COPY// s CTION OFFICER To,1The lncome Tax Appellate Tribunal Hyderabad Bench 'B', Hyderabad2The Commissioner of lncome Tax (Appeals)-V, HyderabadThe Assistant Commissioner of lncome Tax, Circle-16(1), Hyderabad.1The lncome Tax Appellate Tribunal Hyderabad Bench 'B', Hyderabad2The Commissioner of lncome Tax (Appeals)-V, HyderabadThe Assistant Commissioner of lncome Tax, Circle-16(1), Hyderabad.4One CC to Sri J.V. Prasad, S.C. for lncome Tax 5One CC to Sri A. V. Raghu Ram, Advocate CtTwo CD CopiesPlp/PSLCtTwo CD CopiesPlp/PSL HIGH COURT DATED:1810212025 JUDGMENTITTA.No.269 ot 2012 DISMISSING THE APPEAL \ql[?r{] .HE RS14(o(r1aflr.inzsi(-tOs-)aTC I1to