Itta/148/2017 Of The Commissioner Of Income Tax v. M/S. Midwest Granites Pvt. Ltd

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD MONDAY, THE FOURTH DAY OF AUGUSTTWO THOUSAND AND TWENTY FIVE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHYANDTHE HON'BLE SRI JUSTICE SUDDALA CHALAPATHI RAOINCOME TAX TRIBUNAL APPEAL NO: 148 OF 2017 Appeal under section 2604 of the Income Tax Act, 1961 against the orderdated 18-5-2016 passed in ITA No. 419lHydl2013 A.Y. 2004-05 on the file of thelncome Tax Appellate Tribunal, Hyderabad A Bench, Hyderabad. Between:The Commissioner of lncome Tax, (lnternational Taxation and Transfer Pricing)Hyderabad. ...Appellant ANDM/s. Midwest Granites Private Limited (Representative Assessee of M/s. SouthAsia Granites and Marbles Pvt. Ltd., D.No.B-2684l3/25 & 26, Road No. 12,Banjara Hills, Hyderabad. ...Respondent Counsel for the Appellant: Mr. Vijhay K. Punna,Senior Standing Counsel for lT Department Counsel for the Respondent: M/s. MN. AdvocatesThe Court delivered the following: JUDGMENT TIIE HON'BLE SRI JUSTICE P.SAM KI)SHY AND THE HON'BLB SRI JUSTICE SUDDALA CHAL,\PATHI RAO INCOME TAX TRIBUNAL APPEAL No.148 of 2017 JUDGMENTI [lpcr ]rhe Ilon bte [Srt ]Justice P.Sam Kos6) Heard Mr. Vijhay K. Punna, learned Senior Standingr Counsel lor lncomeTax Department appearing on behalf of the appellant, ancl learned counsel forthe respondent. 2. The instanr appeal under Section 260.4 of the Incom,: Tax Act, 1961, hasbeen preferred by the l{evenue as the appelldnt agairst the order dated18.05.2016. passed by the Income Tax Appellate Tribunal, Hyderabad Bench'A', Hyderabad, in I.T.A.No.489lHydl20l3 for the Assessnrent Year 2t)04-05. 3. Central Bcard of Direct Taxes (CBDT) has issued Circular No.9 of 2024dated 17.09.2024, aurending the previous Circular Nt.5 of 2024 dated15.03.2024, by tirrther enhancing the monetary limits for tiling appeats by theIncome Tax Departrnent before the Income Tax Appel ate Tribunats, HighCourts and Suprr:me Couft as a measure for reducing litig,rtion. l.n paragraph 2of the said Circular, we find that the monetary limit hxecl for filing an appealbefore the High Court is Rs.2 crore. 4In the instant appeal, tax effect is well below the monetary limit. 5. Therefore, the appeal filed by the Revenue is dismissed in terms of theaforesaid Circular No.9 of 2024, dated 17.09.2024. However, if the appealcomes within the exception of Circular No.5 of 2024+, it would be open to theRevenue to seek revival ofthe appeal. No costs. 6. As a sequel, miscellaneous petitions pending if any, shatl stand closed Sd/- N. CHANORA SEKHAR RAOSIANT REGISTRAR\\US CTION OFFICER //TRUE COPY// To,1 . The lncome Tax Appellate Tribunal, Hyderabad A Bench, Hyderabad.2. One CC to Mr. Vijhay K. Punna, Senior Standing Counsel for lT DepartmentloPUCl1 . The lncome Tax Appellate Tribunal, Hyderabad A Bench, Hyderabad.2. One CC to Mr. Vijhay K. Punna, Senior Standing Counsel for lT DepartmentloPUCl3. One CC to M/s. MN. Advocates 4. Two CD CopiesKam/PSL \q,, HIGH COURTDATED:0410812025 JUDGMENTlTTA.No.148 of 2017 DISMISSING OFTHE APPEAL G [rog?"A](t.. _ffi4: .-,'ilF-Sl4 f(coAl :,'o(vi'-)16 sEP [UEi]7It_.Ii,:--l:,*\."\\ t6sI]AI C Hr1)