Itta/304/2015 Of The Commissioner Of Income Tax (Centra) v. M P B Kutumba Rao

IN THE HIGI-I COURT FOR THE STATE OF TELANGANAAT HYDERABAD FRIDAY, THE TWENTY EIGHTH DAY OF FEBRUARYTWO THOUSAND AND TWENTY FIVETWO THOUSAND AND TWENTY FIVE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHYANDTHE HON'BLE SRI JUST1CE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL No: 304 of 2015 Appeal under section 2604 of the lncome Tax Act, 196'1 against the ordersdaled 19-12-2013 in l.TA.No.742lHydl2o10 for the Assessment Year 2005-06passed by the lncome Tax Appellate Tribunal, Hyderabad "A" Bench, Hyderabad. Betwe en: The Commissioner of lncome Tax (Central), Hyderabad. ...Appetlant AND Sri M.P.B.Kutumba Rao, B-2-293182iJ-lll, Plot No.244 Road No.78, Jubilee Hills,Hyderabad ... Respondent Counsel for the Appellant: Ms. Bokaro Sapna Reddy (SC FOR INCOME TAX)Counsel for the Respondent: Mr. A.V.A. Siva KartikeyaThe Court delivered the following: JUDGMENT THE HON'B [ JUSTICE][ P.SA] [KOS!{Y] AND THE HON'BLE [S] [N] [ RAO][ NANDIK] No.304[oF ][2015] INCOME [T] JUDG[MENT: ][ber ][Hon ][bt': ][s'i ][rusttce ] [Sam ][Koshu)] Heard Ms.Bokaro [Sapna Reddy' ][learned ][Standing Counsel for]Income [Tax, ][appearing ][on behalf of ][the ][appeliant'] 2- The instant [appeal ][under ][Section ][260A ][of the ][Income ][Tax ][Act']1961, [has ][been ][pret-erred ][by the ][Revenue ][as ][the appellant ][against the]order dated [lg.l2 ]'2013 [passed ][by ][the ][Income Tax Appellate ][Tribunal']Hyderabad [.4,, ][Bench, ][Hyderabad, ][in ][I.T.A.No.742 ][/Hydl2o1ro ][lor ][the]Assessment [Year ][2005-06'] 3. Central [Board ][of ][Direct ][Taxes ][(CBDT) ][has ][issued ][Circular ][No'9 ][of]2024 [dated ][17.og.2024, ][amending ][thc ][previo,.is ][Cir.cular ][No.S ][of ][2o24]dated [15.03.2 o24, ][t:y ][further ][enhancing ][the ][rrronetarl ][limits ][for ][illiag]appeals [by ][the ][Income ][Tax ][Department ][before ][the ][Income ][Tax]Appellate [Tribunals, ][High Courts ][and ][Supreme ][Court ][as ][a measure ][for]reducing [litigation' ][In ][paragraph ][2 ][of ][the ][saicl ][Circular' ][we ][find that]the monetary [limit ][hxed ][for frling ][an ][appeal before ][the ][High Court ][is]Rs.2.00 [crore.] II II Page 2 of 3 4, In the instant appeal, tax effect is well below the monetary limit. 5. Therefore, the appeal filed by the Revenue is dismissed in termsof the aforesaid Circular No.9 of 2024 daLed 17.Og.2024. However, ifthe appeal comes within the exception of Circular No.S of 2024, itwould be open to the Income Tax Department to seek revival of theappeal. No costs. 6. As a sequei, miscellaneous applications pending if any, shallstand closed. SD/- K.SRINIVASA .JOINT REGISTRAR\N]'-___ V [[sEcrtoN ]][[oFFlcER]] //TRUE COPY' V [[sEcrtoN ]][[oFFlcER]] To, '1 . The lncome Tax Appellate Tribunal, Hyderabad ["A" ][Bench ][Hyderabad]2 One CC to Ms. [Boiaro ][Sapna ][Reddy ][(SC FOR ] [TAX) ] ]3. One CC to [Mr. ][A.V,A. Siva ][Kartikeya, ][Advocate ] 4. Two CD CoPies kam/['SI. HIGH COURT DATED:2810U2A25 JUDGMENT ITTA.No.304 of 2015 DISMISSING OFTHE APPEAI- 1$ESI4ta''93 19 APR2025C)/*-\ t)Ft)A1crE9- LII