Itta/166/2010 Of The Commissioner Of Income Tax Iii v. M/S Surya Lakshmi Cotton Mills Limited

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDEITAB'iAD TUESDAY,THE FOURTH DAY OF FEBRUARYTWO THOUSAND AND TWENW FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYAND THE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO: 166 OF 2010 Appeal filed under Section 260(4) of the lncome-Tax Act, against the orderdated.23.11.2007 passed in lTA.No. 533lHydl2007 for the assessment [year ]2004-2005 on the file of the Court of the lncome Tax Appellate Tribunal Hyderabad [Bench]'A', Hyderabad preferred against the Order dated: 14-03-2007 passed in Appeal.No.0457lDC-3(2)lClT(A)-lV/2006-07 on the file of the Court of the Commissioner oflncome Tax (Appeals)-lV, Hyderabad preferred against the Assessment Orderdaled.26-12-2006 passed in PAN/GIR No. /S-487 on the [file ][of the]Court of the lncome Tax Department, Deputy Commissioner of [lncome Tax, ][Circle]3(2), Hyderabad. Between: The Commissioner of lncome Tax lll, l.T. Towers, A.C-Guards. Masab [Tank,] ...APPELLANT AND M/S Surya Lakshmi Cotton Mills Limited, S.P.Road, Secunderabad....RESPONDENT Counsel for the Appellant: Sri J.V.Prasad, Standing Counsel for lncome TaxCounsel for the Respondent: Sri Challa Nagendra PrasadThe Court delivered the following JUDGMENT:Counsel for the Respondent: Sri Challa Nagendra PrasadThe Court delivered the following JUDGMENT: THE HONOURA.BLE SRI JIISTICE P.SAM KOSHYANDTHE HONOURABLE SRI JUSTICE NARSING R{ONANDIKONDA ITTA No.166 OF 2010 JUDGMENT (per IIon'ble Sri Juslice P.Sant Koshy) Heard Ms. B.Sapna Reddy, leamed Junior Standing Counsel representing Mr. J.V.Prasad, leamed Senior StandingCounsel for the Income Tax Department for the appellant. Perusedthe record. 2. This appeal under Section 260,{ of the Income Tax Act,1961, has been preferred by the Revenue as the appellantagainst the older dated 23.11.2007 passed by the lncome TaxAppellate Tribunal, Hyderabad Bench 'A', Hyderabad,lnI.T.A.No.533/I[yd12007 for the Assessment Year 2004-05.3. Central Board of Direct Taxes (CBDT) has issued Circular [I]No.9 of 2024 dated 17.09.2024, amending the previous CircularNo.5 of 2024 dated 15.03.2024, by further enhancing the monetarylimits for filing appeals by the Income Tax Department before theIncome Tax Appellate Tribunals, High Courts and Suprerne Court I \ as a measure for reducing litigation. In palagraph 2 of the saidCircular, 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.However, if the appeat comes rvithin 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, shallstand closed Sd/- K. SRINIVASA RAOJOINT REGISTRARSCTION OFFICER //TRUE COPY// To, 1. The lncome Tax Appellate Tribunal Hyderabad Bench [,A,, ]Hyderabad 2. The Commissioner of lncome Tax (Appeals)-lV, Hyderabad 3. The lncome_Tax Department, Deputy Commissioner of lncome Tax, Circle 3(2), Hyderabad. 4. One CC to Sri J.V.Prasad, Advocate tOpUCl 5. One CC to Sri Challa Nagendra prasad, Advocate tOpUCl 6. Two CD Copies vH/ III HIGH COURT DATED: 0410212025 JUDGMENTlTTA.No.166 of [2010] DISMISSING r1:*[o(\][ IHE SI4]i--$(x1 N/,q Tm"'''. -",... [-,., ]['']