Itta/326/2012 Of Commissioner Of Income Tax-Iii v. M/S. Sri Krishna Drugs Ltd

IN THE HIGH COURT FOR THE STATE AT HYDERABAD THURSDAY, THE TWENTIETH DAY OF FEBRUARYTWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE [P.SAM KOSHY]ANDTHE HONOURABLE SRI JUSTICE INCOME TAX TRIBUN[AL APPEAL NO: ][326 ] [2012] Appeal filed under Section [260(4) ][of the ][lncome-Tax ][Act, ][against the order]dated. 25-01-20'12 [passed ][in ][ITA.No.1698tHydl2011 ][for ][Assessment ][Year ][2008-]2009 on the file of the [lncome ][Tax ][Appellate Tribunal Hyderabad Bench ]['A"]Hyderabad [preferred ]against the [order ][dated: ][29-7 ][-2011 passed ][in ][Appeal]t [No.102/DC3(2yclT(A)-lv/2010-11 ][on the ][file ][of ][the ][commissioner ][of ][lncome Tax](Appeals)-lV,Hyderabadpreferredagainsttheorderdated:13-08-2010passedinpANiGlR No. AADCS4050Q/S-1 18 on the file of the Deputy Commissioner [of]lncome Tax, Circle-3 [(2), ][HYderabad]Between: Commissioner Of lncome Tax-lll,, [lT Towers, A.C.Guards, Hyderabad'] ...APPELLANT AND M/s. Sri Krishna Drugs [Ltd., C-4, lndustrial ][Area, ][Uppal, Hyderabad'] ...RESPONDENT Counsel for the Appellant: [MS. ][B. ][SAPNA REDDY, JUNIOR ][S'C' ][REP' ] SRI J V PRASAD, S.C. Counsel for the Respondent: [A. ][V. A- SIVA ] The Court delivered [the ][following: ] II TIIE I{ONOTIRABLE SRI.IUSTICE [P.SAM ][KOSI{Y]ANI)THE HONOURABLE SRI JUSTICE [R\O]NANDIKONDA ITTA No.326 OF 2Ol2 'per [llon'ble ][Sri.Iuslice ][P.Sam Koshy)] JUDGMENT' Heard Ms. B.Sapna Reddy, [leamed ][Junior ][Sranding]Counsel t'epr( senting Mr. J.V.Prasad, [leamed Senior ][Standing]Counsel lor t re lncome Tax Departmcnt [lor ][the ][appclll'nt ][and]Sri A.V.A.Sir a Kaftikeya, leamed [counsel ][lor ][the ][rcsp,)ndent.]Perused the re:ord 2. This appeal under Section 260,4. of the [Incotne ][l'ax ][Act,]1961, has b,:r:n preferred by the Revenue as [the ][i:.ppellant]against the o [-rler ]dated 25.01 .201 2 [passed ]by [the ][Irrcorne ][Tax]Appellate ['t ]ribunal, Hyderabad Bench 'A', [H1'derabad,]lnI.T.A.No. l69tttHydl20l1 for the Assessment Year 2008-09'3. Central Iloard of Direct Taxes [(CBDT) ]has issued CircularNo.9 of 2024 dated 17.09.2024, amending the previous CircularNo.5 of 202,1 dated 15.03.2024,by further enhancing the rlonetarylirnits tbr filir [gr ]appeals by the Income Tax [Deparlment ]b,.:fore [the] II i Income Tax Appellate Tribunals, High Courls and Supreme Courtas a measure for reducing litigation. In paragraph 2 of the saidCircuiar, we find that the monetary limit hxed for fiiing an appealbefore the High Court is Rs.2.00 crore. 4. In the instant appeal, tax effect is well below the monetarylimit. 5. Therefore, the appeal filed by the Departrnent is [dismissed ][in]terms of the aforesaid Circular No.9 of [2024 ][dated ][17.09.2024.]However, if the appeal comes within tl.re [exception ][of ][Circular]No.5 of 2024, it would be open [to ][the Income ][Tax ][Department ][to]seek revival of the appeal. There shall be [no order ][as ][to ][costs.] 6. Consequently, miscellaneous [petitions pending, ][if ][any, ][shall]stand closed. Sd/. K. SRINIVASA OINT REGISTRARSECTION //TRUE COPY// To1 . The lncome [Tax ][Appellate Tribunal ][Hyderabad- ][Bench ]['A" ][Hyderabad]i. rn" C".rissionei [bf lncome Tax ][(A[peals)-lv' ][HYderabad];. il; Dep;t [Commissioner ][of ][lncome ][tax' ][Circle-3(2)' Hvderabad']a. o"L-cC [t"'Sri ][J.V. Prasad, S ] [for lncome Tax ][t-?luct]cc [i" ][sti ][A. ][v. ][n. ][Siva ][Kartikeva' Advocate ][toPUCl];. o;; 6. Two CD [CoPies] Plp/PR \ Ii;tIlI HIGH COURTDATED:2010212025 JUDGMENTITTA.No.326 ot 2012 DISMISSING ['THE ]APPEAL r"f,A ....,o,+l;10 / 41,,,1[21 il*