Itta/249/2015 Of The Prl Commr Of Income Tax-Iv, Hyderabad v. M/S Margadarsi Chit Fund [P] Ltd., Hyderabad

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD TUESDAY, THE TWENTY FOURTH DAY OF JUNETWO THOUSAND AND TWENry FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYAND THE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO: 249 OF 2015 Appeal filed under Sec.260A of the lncome Tax Act, i961 against the order of the lncome-tax Appellate Tribunat, Bench [,B,, ]Hyderabad inITA.No.470/H/2014, dated 28.8.2014 for the Assessment year 2009-10 (servedon 24.1O.201 4 in PAN.No.AABCM4751 G. Between: THE PRL COMMR OF INCOME TAX-|V, HYDERABAD, Hyderabad ...APPELLANT AND M/S MARGADARSI CHIT FUND tPI LTD,, HYDERABAD, 5-10-195, OPPPolice Control Room Hyderabad ...RESPONDENT Counsel for the Appellant: SRl. J V PRASAD Standing Counset For lncomeTax Department.Tax Department. Counsel for the Respondents: SRI C V NARASIMHAM The Court made the following: ORDER THE HON'BLE SRI JUSTICE P.SAM KOSHYAND THE HON'BLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAI No.249 OF 2015 WDGMENT: bter Ho^'bte sri.htsdce .e.sam xosr.y, The instant appeal is filed under Section 260A of theIncome Tax Act, 196 1 (for short, [.the ]Act, 196 1,), has beenpreferred by the appellant-Principal Commissioner of IncomeTax-IV against the order, dated 2g.Og.2Ol4, inLT.A.No.470 lHydl2ola passed by the learned Income TaxAppellate Tribuna_I, Hy{erabad [,B,,Bench, ]Hyderabad, for theAssessment Year 2OO9 -2O lO. 2. 2. Heard learned counsel appearing for the parties.3. The Central Board of Direct Taxes (CBDT) hasissued Circular No.9 of 2024 dated 12.O9.2024, amending theprevious Circuiar No.S of 2024 dated 15.03.2024, by furtherenhancing the monetar5z limits for filing appeals by theIncome Tax Department before the Income Tax AppellateTribunals, High Courts and Supreme Court as a measure forreducing litigation. In paragraph 2 of the said Circular, wefind that the monetary limit hxed for fiIing an appeal beforethe 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 Revenue isdismissed in terms of the afore said Circuiar No.9 of 2024,dated 17.09.2024. However, if the appeal comes within theexception of Circular No.5 of 2024, dated 15.03.2024, rtwould be open to the Income Tax Department to seek revivalof the appeal. No costs. 6. Miscellaneous petitions, if any, pending shallstand closed. SD/- A.V.S.S.C.S.M. SARMAJOINT REGISTRAR //TRUE COPY// SECTION OFFICER To, 1. The lncome-Tax Appellate Tribunal, Bench-'B', Hyderabad. 2. The Commissioner, lncome Tax lV, Hyderabad. 3. One CC to SRl. J V PRASAD,Standing Counsel for income taxdepartment, advocate [opuc]department, advocate [opuc] 4. One CC to SRl. C V NARASIMHAM Advocate 5. Two CD Copies W II HIGH COURT DATED:2410612O25 ORDER lTTA.No.249 ot 2015 DISMISSING THE APPEAL '(.LDex[7] rtl [I]a)()0 5 AU6 2025 :o*+[a]Pa tcHFroa