Itta/246/2005 Of The Commissisoner Of Income Tax -Iii, Hyderabad v. State Bank Of Hyderabad

IN THE HIGH COURT AT HYDERABAD WEDNESDAY ,THE TWO THOUSAND AND TWENTY PRESENT THE HON'BLE THE CHIEF ANDTHE HON'BLE SRI JUSTICE [C.V. ] INCOME TAX TRIBU [NO: 246 ][0F][ 2005] Appeal Under Section [260 ][A of the lncome ][Tax ][Act ][, ][1961 ][aggrieved ][by]the order in l.T.A. No. [7 ]/ [Hyd/99 dated 28-12-2004 on the ][file ][of ][the ][court ][of the]lncome Tax Appellate [Tribunal ], [Hyderabad Bench- ][A., ][Hyderabad ][preferred]against the order of [the ][Commissioner ][of ][lncome ][Tax ( ][Appeals ) ][, Hyderabad]in Appeal No. 2O/Tr/DGSR [/ ][CIT (A) ]-U98-99 [dated ][11-01-1999 ][preferred against]the order of the Deputy [Commissioner ][of ][lncometax ][( ][Assts)., ][special ][Range ][-]3, Hyderabad dated 17-'11'1997 [in ][PAN / GIR No- ][S'74] Between: The Commissioner Of lncome [Tax ][-lll,]Hvderabad The Commissioner [of ][lncome]Tax-lll, Hyderabad...A.PPELLANT AND State Bank of lndia , Gunfoundry, [Hyderabad ][.] ( Cause tifle is amended as per Court order dated [31-0t-2018 ][in l.A.No. ][1 ][of 2018 ][in]i.i.i.A. uo. z+o of 2005 ...RESPoNDENT) Counsel for the Appellant: [SRl. ][B. ] [SARMA' ] [fol ][l.T. Dept'] Counsel for the Respondent: [N. R. ] [SWAMY' ] [(NOT]PRESENT) The Court made the [following: ] THE HON'BLE THE CHIEF JUSTICE UJJAL BHTIYANAND THE HON'BLE SRI JUSTICE C.V,BIIASKAR REDDY I.T.T.A.No.246 of 2OOS JUDGMENT: eet tE Han'ble the CtLieI Justice Uiiat Bhuaan) Heard Mr. B.Narasimha Sarma, learned StandingCounsel for Income Tax Department appe,aring for theappellant.2. This appeal under Section 260A of tht: Income TaxAct, 196 1 (briefly, 'the Act' hereinafter), has been preferredby the revenue as the appellant against thr: order dated28.12.2004 passed by the Income Tax Appellate Tribunal,Hyderabad Bench A', Hyderabad (Tribunal), in Interest TaxAppeal No.7 /}{yd/99 for the assessment year 1995-96. 3. Assessee before us is the State Bank of I edia (SBI). 4 . From a perus:rl of the assessment order dated17.11.1997, we find that the aggregate in-erest tax ofRs.7,95,77,7 77.00 was collected from the borrowers andincludecl in the gross interest offered to tax. \j 4.1 It is submitted that 3o/o of the aforesaid amountwould be the disputed tax which comes to around Rs.24.00iakhs. 5. Central Board ol Direct Taxes (CBDT) has issuedCircular No.17 of 2019, dated 08.08.2019, amending theprevious Circular No.3 of 2018, dated ll.O7.2O1B, byfurther enhalcing the monetary limits for liling appeals bythe Income Tax Department before the Income TaxAppellate Tribunals, High Courts and Supreme Court as ameasure for reducing litigation. In paragraph 2 of the saidcircular we find that the monetary limit fixed for filing anappeal before the High Court is Rs. 1.OO crore. 6. In the instalt appeal, tax effect is well below themonetarv limit. 7. Therefore, the appeal filed by the Department1Sdismissed in terms of the aforesaid Circular No.17 of 20 19,dated 08.08.2019. However, if the appeal comes within theexception under paragraph 1O of Circular No.3 of 2OlB, itt \ would be open to the lncome Tax Departrnent to seekrevival of the appeal. Misceiianeous applications pending, if any, shallstald closed. However, there sha-ll be no order as to costs. SD/-B.S.CHNJEEVIJOINTi/TRUE COPY//\LYI.II L-':sEcTtoN oFCE To 1The lncome Tax Appellate Tribunal , Hyderzrbad Bench- A., Hyderabad2a.)The Commissioner of lncome Tax The Deputy Commissioner of lncometax ( Appeals ( Assts)., Special ) , HyderabadRange -3,Hyderabad2a.)The Commissioner of lncome Tax The Deputy Commissioner of lncometax ( Appeals ( Assts)., Special ) , HyderabadRange -3,Hyderabad4One CC to SRl. B NARASITVHA SARI\,{A, Advocate 5One CC to SRl. N. R. SIVA SWAIVY, Advocate tOpUCl6Two CD Copies7. One Spare Copy7. One Spare Copy bs\;\"- I l I HIGH COURT \ would be open to the lncome Tax Departrnent to seekrevival of the appeal. Misceiianeous applications pending, if any, shallstald closed. However, there sha-ll be no order as to costs. SD/-B.S.CHNJEEVIJOINTi/TRUE COPY//\LYI.II L-':sEcTtoN oFCE To 1The lncome Tax Appellate Tribunal , Hyderzrbad Bench- A., Hyderabad2a.)The Commissioner of lncome Tax The Deputy Commissioner of lncometax ( Appeals ( Assts)., Special ) , HyderabadRange -3,Hyderabad2a.)The Commissioner of lncome Tax The Deputy Commissioner of lncometax ( Appeals ( Assts)., Special ) , HyderabadRange -3,Hyderabad4One CC to SRl. B NARASITVHA SARI\,{A, Advocate 5One CC to SRl. N. R. SIVA SWAIVY, Advocate tOpUCl6Two CD Copies7. One Spare Copy7. One Spare Copy bs\;\"- I l I HIGH COURT DATED:21 10912022 1l:LAir,\./.\Y*aasC.i.Llij.rl,l-rlJritIi-AS,c.''.)!\-\ll*\t: JUDGM ENT ITTA.No.246 of 2005 DISMISSING THE I1'TA WIl'HOUT COSTS a \