Itta/199/2005 Of The Commissioner Of Incometax -Iii v. M/S. Shriram Chits Pvt. Ltd

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD WEDNESDAY ,THE TWENry EIGHTH DAY OF DECEMBERTWO THOUSAND AND TWENTY TWO PRESENT THE HON'BLE THE CHIEF JUSTICE UJJAL BHUYANAND THE HON'BLE SRI JUSTICE C.V. BHASKAR REDDY INCOME TAX TRIBUNAL APPEAL NO: 199 OF 2005 Appeal Under Section 260 A of the lncome Tax Act, 1961 against theorder dated 05-09-2005 in ITA No. 506 / Hyd/ 1999 ( Assessment Year 1995-96) on the file of the lncome Tax Appellate Tribunal, Hyderabad Bench BHyderabad preferred against the order of the Commissioner of lncome Tax(Appeals ) , Hyderabad dated 30-03-1999 in Appeal No. 132 / DCSR/ CIT (A) -l /98-99 preferred against the order of the Deputy Commissioner of lncome Tax( Assts ) Special Range -3 , Hyderabad. Dated 17-11-1997 in Pan ./ GIR No. S-17l Sr. 3 Between: The Commissioner Of lncometax -lll, Hyderabad. ...APPELLANT AND M/s. Shriram Chits Pvt. Ltd., Hyderabad ,..RESPONDENT Counsel for the Appellant:SRl. J V PRASAD [(SC ]FOR INCOME TAX) Counsel for the Respondent: SRI R.V. EASWARThe Court delivered the following: JUDGMENT I I THE HON'BLD THE CHIEF JUSTICE UJJAL BHIIYAN AND THE II()N'BLE SRI JUSTICE C.V.BHASKAR REDDYI.T.T.A. No.199 of 2OOS JUDGM.ENT:(Per the Hon'ble the Chief Justice Ujjal Bhuya/L) Heard Mr. J.V.Prasad, learned Standing Counsel forIncome Tax Department appearing for the appellant and Mr.R.V.Easwar, learned Senior Counsei lor the respondent. 2. Tbis appeai under Section 260A of the Income TaxAct, 19b1, has been filed against the order dated 26.07.2OO4passed by the Income Tax Appellate Tribunal, HyderabadBench ts', Hyderabad (Tribunal) in I.T.A.No.506/Hydl1999for the assessnlent year 1995-96. 3. Mr. J.V.Prasad, learned Standing counsel fairlysubmits that ta-x effect in this appeal is below the monetarylimit for liling appeal. 4. Central Board of Direct Taxes (CBDT) has issuedCircular No.17 of 2019, dated 08.08.2019, amending theprevious Circular No.3 of 2018, dated I 1.07.20 18, by furtherenhancing the monetary limits for filing appeals by theIncome Tax Department before the Income Tax Appellate II \ Tribunals, High Courts and Supreme Court as a measure forreducing litigation. In paragraph 2 of the said circular wefind that the monetary limit fixed for filing an appeal beforethe High Court is Rs.1.00 crore. 5. 5. Therefore, the appeal Iiled by the Department isdismissed in terms of the aforesaid Circular No.17 of 2019, dated 08.08.2019. However, if the appeal comes within theexception under paragraph 10 of Circular No.3 of 2018, itwould be open to the Income Tax Department to seek revivalof the appeal. Miscellaneous applications pending, if any, shall standclosed. However, there shall be no order as to costs. Sd/-K.SRINIVASA RAOJOrNT REGTSFRAR. /VSECTION OFFICER //TRUE COPY// Tor. The lncome Tax Appellate Tribunal, Hyderabad Bench B Hyderabadz. The Commissioner of lncome Tax (Appeals ) , Hyderabadr. The Deputy Commissioner of lncome Tax ( Assts ) Special Range -3 ,Hyderabad.r. The lncome Tax Appellate Tribunal, Hyderabad Bench B Hyderabadz. The Commissioner of lncome Tax (Appeals ) , Hyderabadr. The Deputy Commissioner of lncome Tax ( Assts ) Special Range -3 ,Hyderabad. 4. One CC to SRl. J V PRASAD (SC FOR INCOME TAX) Advocate 5. One CC to SRl. R.V. EASWAR , Advocate 6. Two CD Copies5. One CC to SRl. R.V. EASWAR , Advocate 6. Two CD Copies q I I HIGH COURT DATED:281121"2022 JUDGMENTITTA.No.199 of 2005 DISMISSINC THE IlI'A @*r;qb,e---(o.\* 1 [Sl4][ 74](i)21 JAil [?[?3]