Itta/320/2015 Of The Commr Of Income Tax [Central] Hyderabad v. M P B Kutumba Rao, Hyderabad

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD FRIDAY, THE TWENTY EIGHTH DAY OF FEBRUARYTWO THOUSAND AND TWENW FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYANDTHE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO: 320 OF 2015 Appeal filed under Section 260-4 of the lncome Tax Act, [.1g61]against the Order dated 19.12.2013 passed in l.T.A.No. 1432lHydl2O12, forAssessment year 2006-07 on the file of the lncome Tax Appellate Tribunal,Bench-A, Hyderabad.against the Order dated 19.12.2013 passed in l.T.A.No. 1432lHydl2O12, forAssessment year 2006-07 on the file of the lncome Tax Appellate Tribunal,Bench-A, Hyderabad. Between: The Commissioner of Income Tax (Central) Hyderabad ...Appellant AND S! M P B Kutumba Rao, B-2-293l82lJ-lll, Ptot No.244, Road No.78, JubiteeHills, Hyderabad. ...Respondent Counsel forthe Appellant : Ms. Bokaro Sapna Reddy Standing Counsel forlncome Taxlncome Tax Counsel for the Respondent : Sri A V A Siva Kartikeya The Court delivered the following: THE HON'BLE [J] [P.SA] ANDTHE HON'BLE [ NARSING][ RAO][ NANDIKONDA] INCOME TAX [ APPEAL ][N][o.320 ][0F ][2015] JUDGMENT: tEt [Hat'bte ][sn ]'h,sn'! [P.sam ][Kostl!)] Heard Ms.Bokaro [Sapna ][Redd'y, ][learned ][Standing Counsel for]Income Tax, [appearing ][on ][behaif ][of ][the appellant'] 2. The instalt [appeal ][under ][Section ][260A ][of ][the ][Incorte ][Ta-x ][Act']1961, has been [preferred ][by ][the ][Revenue ][as ][the appellant ][against the]order dated Ig.l2.2oi.il [passed ][by ][the ][Income ][Tax ][Appellzrte ][Tribunal']'A" [Bench, ][Hyderabad, ][in ][I'T'A'No ][1432 ][/llydl2O12 ][for the]Hyderabad Assessment [ear ][2006-07 ][-] 3. Central Board [o[ ][Dircct ][Taxes (CBDT) ][hzrs ][issued Cirr;ular ][No ][9 ][of]2024 dated. [17.Og.2024, ][amending ][the ][previous ][CircLrlar No ][5 ][of ][2O24]dated 15.03.2O24, [by ][further ][enhancing ][the monetary ][linrits for ][liling]appeals by the [Income ][Tax ][Department ][be ][fore ][tile ][Income ][Tax]Appellate [Tribunais, ][I-Iigtl ][Courts ][anci Supreme ][Court ][irs ][i.i ][nteasure ][for]reducing litigation. [In ][paragraph ][2 ][of ][the ][said ][Circular' ][q'e ][hnd ][that]the monetary [limit ][fixed ][for ][hling an ][appeal ][belbre ][tl-rc ][Fligh ][Court ][is]Rs.2.0O crore Page 2 of 3 4. In the instant appeal, tax effect is well below [the monetary ][limit] 5. Therefore, the appeal frled by the Reverrle is [dismissed ][in ][terms]of the aforesaid Circular No.9 ol [2024 ][dated' 17.Og.2024. However. ][if]the appeal comes u.ithin the [exception ]of Circular [No.S ][of ][2024 ]' [it]would be open to the Income Tax [Department ]to [seek ][revival of ][the]appeal. No costs. 6. As a sequei, miscellaneous applications [pending ][if ][any, ][shal1]stand closed. ,RAOSd,. [K. SRINIVAS]RARJOINT SECTION ,/TRUE To, 1The [lncome Ta].S?:?J":"Jl:H3lf,"!::;ft #3ff133 [ror ][rncome]2One [to ][Ms']:i:8Jy""! [siva ][Kartikeva ][Advocate ][loPucj]4Two [CoPtes]DUDLYa. HIGH COURTDAf ED:2810212025 JUDGMENTITTA.No.320 of 2015 DISMISSING THE APPEAL C'fM\h-s\d' 16E €(,j01tlI[Y [2][25at, DEs eaTc,i