Itta/251/2012 Of The Commissioner Of Income Tax - Iv v. M/S. Pokarna Limited

I t3447l IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD TUESDAY, THE EIGHTEENTH DAY OF FEBRUARYTWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYANDTHE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO: 251 OF 2012 Appeal filed under Section 260(4) of the lncome-Tax Act, against the orderdated. 26-09-2008 passed in lTA.No.701/Hydl2009 for AssessmentYear 2001-2002on the file of the lncome Tax Appellate Tribunal Hyderabad Bench 'A', Hyderabadpreferred against the Order dated: 29-01-2008 passed in ITA No.267, 249 & IBB1DC-16(3yClT(A)-V/2006-07 on the file of the Commissioner of tncome Tax (Appeats)-V,Hyderabad preferred against the Order dated: 23-10-2006 passed in PAN/GIR No. /P-25 on the file of the Deputy Commissioner of Wealth Tax, Circle-16(3), Hyderabad. Between: The Commissioner of lncome Tax - IV, Hyderabad. ...APPELLANT AND M/s. Pokarna Limited, 105, Surya Towers, S.P. Road, Hyderabad. ...RESPONDENT Counsel for the Appellant: Ms. B. SAPNA REDDY, JUNTOR S.C. REp. FORSRI J.V. PRASAD, SENIOR S.C. INCOME TAX DEPT. Counsel for the Respondent: SRI CH. PUSHYAM KIRAN The Court delivered the following: JUDGMENT II II THE HONOURABLE SRIJUSTICE [P.SAM ] ANDTHE HONOT]RABLE SRIJUSTICE NANDIKONDA ITTA No.251 OF 2012 JUDGMENI'(per Hon'ble Sri Justice P.Sam Koshy) I{eard Ms. B.Sapna Reddy, [leamed ][Junior ][Standing]Counsel representing Mr. J.V.Prasad, [learned ][Senior ][Standing]Counsel for the Income Tax [Department ][for ][the appellant. ][Perused]the record. 2. This appeal under Section 260,{ of [the ][Income ][Tax ][Act,]1961, has been preferred by the Revenue [as ][the ][appellant]against the order dated 26.09.2008 [passed ][by the ][lncome ][Tax]Appeltate Tlibunal, Hyderabad Bench 'A', [Hyderabad,]tnI.T.A.No.70lltIYD/2008 for the Assessment [Year 2001-02.]3. Central Board of Direct Taxes [(CBDT) ]has [issued ][Circular]No.9 of 2024 dated 17.09.2024, amending the [previous. ][Circular]No.5 of 2024 dated 15.03.2024, by further enhancing [the ][monetary]limits for filing appeals by the Income Tax Department before [the]Income Tax Appellate Tribunals, High Courts [and ]Supreme [Court].\ {I I To, as a measure for reducing litigation. In [paragraph ]2 of [the ][said]Circular, we find that the monetary limit fixed for [filing ][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 CircularNo.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.] 6. Consequently, miscellaneous petitions pending, if any, shaltstand closed. SD/.K.SRINIVASA JOINT REGISTRAR //TRUE COPY// ECTION OFFICER 1. The lncome Tax [Appellate Tribunal Hyderabad Bench ]['A', ][Hyderabad] 2. The Commissionei [of ][lncome Tax (Appeals)-V, ][Hyderabad]3. The Deputy Commissioner [of ][Wealth ][Tax, ][Circle-'16(3), ][Hyderabad']4. One CC to'Sri [J.V. Prasad, ][S.C. ][for lncome Tax ][ ] 5. One CC to Sri Ch. [Pushyam ][Kiran, ][Advocate ]IOPUCI 6. Two CD CopiesPlp/PSL W HIGH COURT DATED: 18t)2t2O2s JUDGMENTlTTA.No.251 of 2012 DISMISSING THE APPEAL @v ('lo1e ApB zoz5 i\-1';\s|:!:\:))y'