Itta/214/2022 Of The Commissioner Of Income Tax v. M/S. Midwest Granites Pvt. Ltd

[ [348e ]J IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD MONDAY, THE FOURTH DAY OF AUGUSTTWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAi1.,{ KOSHYANDTHE HONOURABLE SRI JUSTICE SUDDALA CHALAPATHI RAO INCOME TAX TRIBUNAL APPEAL NO; 214 OF 2022 Appeal filed under section 2604 of the lncome Tax Act, [.1g61 ]againstorder dated 16-12-2021 in lrA No. 724lHydl2013 on the file of the lncome TaxAppellate Tribunal, Hyderabad 'A' Bench, Hyderabad for the Assessment yearorder dated 16-12-2021 in lrA No. 724lHydl2013 on the file of the lncome TaxAppellate Tribunal, Hyderabad 'A' Bench, Hyderabad for the Assessment year2005-2006, preferred against the order dated 31-O1-20.13 in ITA No. 455,457_460/ADlr(lr)-lllclr(A)-v12011-12 on the fite of the commissioner of lncome Tax460/ADlr(lr)-lllclr(A)-v12011-12 on the fite of the commissioner of lncome Tax(Appeals)-V, Hyderabad, preferred against the Assessment Order dated16-02-2012 on the file of the Assistant Director of lncome Tax (lnternationalTaxation)-ll, Hyderabad.Taxation)-ll, Hyderabad. Between: The Commissioner of lncome Tax, (lT and Tp) Hyderabad. ...APPELLANT AND NI/s. t\/idwest Granites Pvt Ltd., D.No.8-2-684l3 t25 and 26, Road No.12,Banjara Hills, Hyderabad. PAN. AAACM9486DBanjara Hills, Hyderabad. PAN. ...RESPONDENT Counsel for the Appellant: Sri Vijhay K. Punna,Senior Standing Counsel for lncome Tax Dept. Counsel for the Respondent: M/s MN Advocates The Court delivered the following: JUDGMENT THE HON'BLE SRI JUSTICE P.SAM KI:)SHY AND THE HON'BLE SRI JUSTICE SUDDALA CHALAPA THI RAO INCOME TAX TRIBUNAL APPEAL No.2I4 of 2O22 JUDGMENT 1 (,er ttrc [Ion bte Sri.lustice P.Sam Kosh]) Heard Mr. Vijhay K. Punna, leamed Senior Standing. Counsel for lncomeTax Deparlment appearing on behalf of the appellant, anc. Lerrrned counsel forthe respondent.Tax Deparlment appearing on behalf of the appellant, anc. Lerrrned counsel forthe respondent. 2The instant appeal under Section 260.4 of the Incom,: ['frrx ]Act, 1961, hasbeen prefered by the Revenue as the appellant aga rsr the order dated16.12.2021, passed by the Income Tax Appellate Tribunal, t{yderabad Bench'A', Hyderabad,, in I.T.A.No.724lHydl2013 for the Assessnrcnt Year 2005-06. 3. Central Board of Direct Taxes (CBDT) has issued Circtrlar No.9 of 2024dated, 17 .09.2024, arnending the previous Circular N,.i.5 of 2024 dated15.03.2024, by further enhancing the monetary limits for t'ilir,g appeals by theIncome Tax Department before the Income Tax Appellate Tribunals, HighCourts and Supnrme Court as a measure for reducing litigz.lion. In paragraph 2of the said Circular, we find that the monetary limit t'ixed for filing an appealbefore the High Court is Rs.2 crore. 4. In the instant appeal, tax effect is well below the monetary limit. 5. Therefore, the appeal filed by the Revenue 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]Revenue to seek revival ofthe appeal. No costs. 6. As a sequel, miscellaneous petitions pending ifany, shall [stand ][closed.] SD/. M.AMANA KRISHNAINT REGISTRAR //TRUE COPY// CTION OFFICER To, 1.The lncome Tax Appellate [Tribunal, Hyderabad 'A' Bench, ][Hyderabad]2.The Commissioner of [lncome ][Tax ][(Appeals)-V' ][Hyderabad]2.The Commissioner of [lncome ][Tax ][(Appeals)-V' ][Hyderabad] 3.The Assistant Director [of lncome Tax (lnternational Taxation)-ll, Hyderabad] 4.One CC to Sri Vijhay [K. ][Punna (Senior Standing Counsel ][for ][ITD) ] 5.One CC to Mis. MN Advocates 5.One CC to Mis. MN Advocates 5.One CC b.Two CD Copiesb.Two CD Copies VH/gh Y\- HIGH COURT DATED: 0410812025 JUDGMENTlTTA.No.214 ot 2022 DISMISSING THE ITTA ."d"[wffiat .. t.-L:,. ..\2 ti 5,[P 206'a.'Y,,if./;-'/