Itta/204/2022 Of The Commissioner Of Income Tax (Itandtp) v. M/S. Midwest Granites Pvt. Ltd

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD MONDAY, THE FOURTH DAY OF AUGUSTN/VO THOUSAND AND TWENry FIVE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHYANDTHE HON'BLE SRI JUSTICE SUDDALA CHALAPATHI RAO INCOME TAX TRIBUNAL APPEAL NO: 204 OF 2022 Appeal under section 260A of the lncome Tax Act, 196 1 aggrieved by theorder dated 16-12-2021 in ITA No.723lHydl2013 on the file of the lncome TaxAppellate Tribunal, Hyderabad ['A' ]Bench, Hyderabad. Between:The Commissioner of lncome Tax (|T&TP), Hyderabad. ...Appellant ANDM/s. Midwest Granites Pvt. Ltd., D.No.8-2-684/3125 &26, Road No.t2, BanjaraHills, Hyderabad PAN ...Respondent Counsel for the Appellant: Mr. Vijhay K. Punna,Senior Standing Counsel for lncome Tax Department Counsel for the Respondent: M/s. MN Advocates The Court delivered the following: JUDGMENT THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE SUDDALA CHALAPATHI RAO INCOME TAX TRIBUNAL APPEAL No.204 of 2022 JUDGMENT(per thc ltan bte Sfl Justice P-Sam Kosfui) Heard Mr. Vijhay K. Punna, leamed Senior Standing Counsel for IncomeTax Department appearing on behalf of the appellant, and learned counsel forthe respondent 2. The instant appeal under Section 260.4. of the Income Tax Acl, 1961, hasbeen preferred by the Revenue as the appellant against the order datec16.12.2021,, passed by the Income Tax Appellate Tribunal, Hyderabad Bench'A', I{yderabad, in I.T.A.No.723ft1ydl20l3 for the Assessment Year 2004-05. 3. Central Board of Direct Taxes (CBDT) has issued Circular No.9 of 2024dated 17.09.2024, arnending the previous Circular No.5 of 2024 dated15.03.2024, by further enhancing the monetary limits for hling appeals by thelncome Tax Deparlment belore the Income Tax Appellate Tribunals, HighCoufts and Strpreme Court as a measure for reducing litigation. ln paragraph 2of the said Circular. we find that the monetary limit fixed for filing an appealbefore the High Court is Rs.2 crore. 4. In the instant appeal, tax eff-ect is well below the monetary limit 5. Therefore, the appeal hled by the Revenue is dismissed in tenns of theafbresaid 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 of the appeal. No costs. 6. As a sequel, miscellaneous petitions pending if any, shall stand closed. Sd/- N. CHANDRA SEKHAR RAOSSTANT REGISTRAR//TRUE COPY//ECTION OFFICERTo,'1 . The lncome Tax Appellate Tribunal, Hyderabad'2. One CC to Mr. Vijhay [K. ][Punna ][(SENIOR SC FOR ][ITD) ] 3. One CC to M/s. [MN. ][Advocates ] 4. Two CD CopiesKam/PSL(r HIGH COURT DATED:0410812025 JUDGMENT!TTA.No.204 of 2022 DISMISSING OF THE APPEAL GCO[*<e*] X-\o ,;'.2-: [J,1*I\]Ii] 1E SEP M6CA-,(r. . . -.i.:/