Itta/20/2016 Of The Commr Of Income Tax [Central] Hyderabad v. M/S Sms Pharmaceuticals Ltd., Hyderabad

t34471 HIGH COURT AT HYDERABAD MONDAY, THE SEVENTH TWO THOUSAND PRESENT THE HONOURABLE [JUSTICE P.SAM KOSHY] THE HONOURABLE INGOME TAX [EAL NO:][ 20 ][0F ][2016] AppealfiledunderSection260-AofthelncomeTaxAct,.196,l,againsttheorder of the [lncome-tax ][Appellate ][Tribunal, ][Bench ] [Hyderabad ][in]|TA.No.355iHi2007'dated26.o2.2o14fortheassessmentyear2002-03,Servedonthe Appellant [21 ][.O4.2014 ][preferred against ][the ][order passed ][by ][the commissioner of]lncome-Tax [(APPeals), ][CamP ][Office,]at Hyderabad [in]in PAN.No.AADCS2221DlTA.No.0089/ClT(AyGNT/2006-07, [dt.27 ][-12 ][2006']preferred against the order [d1.27.12.2004 ][in ][PAN.No. ][/ ][s-',10 ][by the]Asst. Commissioner [of ][lncome-tax 3(2), ][Hyderabad] Between: THE COMMR OF ...APPELLANT AND M/S SMS PHARMACEUTICALS [LTD., ][417, Neelgiri Aditya Enclave]Ameerpet, Hyderabad ...RESPONDENTS Counsel for the [Appellant: ][Ms.B.Sapna Reddy, ][Jr'sc] SRI. J V PRASAD [(SC ] [INCOME TAX)] Counsel for the Respondents: The Court made the [following: ] THE HONOURABLE SRI JUSTTCE P.SAM KOSHYANDTHE HONOURABLE SRI JUSTICE NARSTNG RAONANDIKONDA ITTA No.20 OF 2016 JUDGMENT: (per Hon'ble Sri Justice P.Sam 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 260,4. of the Income Tax Act,1961, has been preferred by the Revenue as the appellantagainst the order dated 26.02.2014 passed by the Income TaxAppellate Tribunal, Hyderabad Bench 'B', Hyderabad,1nI.T.A.No.355,iFV2O07 for the Assessment Year 2002-03. 3. Central Board of Direct Taxes (CBDT) has issued CircularNo.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 Supreme Court as a measure for reducing litigation. In paragraph 2 [of ][the ][said]Circular, we find that the monetary limit [fixed for ][hling ][an ][appeal]before the High Court is Rs.2.00 crore. 4. In the instant appeal, tax effect is [well ][below ][the ][monetary]limit. 5. Therefore, the appeal filed by the Department [is ]dismissed [in]terms of the aforesaid Circular [No.9 ][of ][2024 ][dated ][17.09.2024.]However, if the appeal comes within [the ][exception ]of [Circular]No.5 of 2024, it would be open to the [Income ][Tax ][Department ][to]seek revival ofthe appeal. There shall be [no order ][as ][to ][costs.] To, 6. Consequently, miscellaneous [petitions ][pending, ]if [any, ][shall]stand closed Sd/- I. NAGA JOINT REGISTRARSECTION OFFICER //TRUE COPY// 1. The lncome-tax [Appellate Tribunal, Bench ] [,Hyderabad'] 2. The Commissioner [of ][lncome-tax (Appeals), Camp Office, Hyderabad] 3. The Asst. [Commissioner of lncome-tax, 3(2), Hyderabad'] +. One CC to SRl. [PRASAD (SC FOR ][INCOME TAX) ][Advocate ] 5. Two CD CoPies V" HIGH COURT DATED:07104t2025 ORDERITTA.No.20 of 2016 DISMISSING THE ITTA *pn4&" -- [""...,::=}1]54\tI3 1 JUI 2025I\\v*IC,o6:sP4TCr rr,l \t