Itta/362/2010 Of The Commissioner Of Income Tax -Iii v. M/S.vilwadri Investments Pvt Ltd

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD IVONDAY, THE TENTH DAY OF FEBRUARYTWO THOUSAND AND TWENTY FIVE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHYANDTHE HON'BLE SRI JUSTICE NARSING RAO NANDIKONDA ITTA No: 352 of 2010 lncome Tax Tribunal Appeal under Section 2604 ofthe lncome Tax Act, 1961against the Order dated 05-06-2008 passed in lTA.No.537/Hydl20O7 for theAssessment Year 2003-04 on the file of the lncome'Tax Appellate Trrbunal,Assessment Year 2003-04 on the file of the lncome'Tax Appellate Trrbunal,Hyderabad 'B' Bench, Hyderabad, preferred against the Order dated 14-03-2007passed in Appeal No.3B3/DCIT-3(3)/ClT(A)-lVi06-07 on the file of the Commissionerof lncome Tax (Appeals)-lV, Hyderabad, preferred against the Order dated 29-1 1-2006 passed in PAN/GIR No.AAACV 6B25Hl V-61 on the file of the DeputyCommissioner of Income Tax Circle 3(3), Hyderabad.Between:passed in Appeal No.3B3/DCIT-3(3)/ClT(A)-lVi06-07 on the file of the Commissionerof lncome Tax (Appeals)-lV, Hyderabad, preferred against the Order dated 29-1 1-2006 passed in PAN/GIR No.AAACV 6B25Hl V-61 on the file of the DeputyCommissioner of Income Tax Circle 3(3), Hyderabad.Between: The Commissioner of Income Tax-lll. l.T.Towers, A.C.Guards, Masab Tank,Hyderabad. "'APPellant AND lVl/s.Vilwadri lnvestments PvtLld,22-23, Sarvasukhi Society, West Marredpally,SecunderabadSecunderabad .. Respondent Counsel for the Appellant: Ms.B. Sapna Reddy, Junior Standing Gounselrepresenting Mr. J.V. Prasad, Senior Counsel for lT Department Counsel forthe Respondent: Sri A.V. Krishna Kaundinya The Court delivered the following: JUDGMENT THE I{ONOURABLE SRI JUSTTCE P.SAM KOSHYANDTHE HONOURABLE SRIJUSTICE NARSING IIAONANDIKONDA ITTA No.362 oF 2010 JUDGMENT (per Hon'ble Sri Justice p.Sam Koshy) Heard Ms. B.Sapna Reddy, learned Junior StandingCounsel representing Mr. J.V.prasad, leamed Senior StandingCounsel for tJle Income Tax Department for the appellant. perusedthe record.Counsel representing Mr. J.V.prasad, leamed Senior StandingCounsel for tJle Income Tax Department for the appellant. perusedthe record. 2. This appeal under Secrion 260A of the Income .l.ax Act,1961, has been preferred by the Revenue as the appellantagainst the order dated 05.06.200g passed by the Income TaxAppellate Tribunal, Hyderabad Bench .8,, Hyderabad, inI.T.A.No.537lF{yd/2007 for the Assessment year 2OU_A4.3. Central Board of Direct Taxes (CBDT) has issued CircularNo.9 of 2024 dated 17.O}.2OZ4, amending the previous CircularNo.5 of 2024 dated 15.03.2024, by further enhancing the monetarylimits for filing appeals by the Incorne Tax Department before theIncome Tax Appellate Tribunals, I{igh Courts and Supreme CourtIIi III Il 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 Cout [is ][Rs.2.00 ][crore.]IIn 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 ][Circular]No.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']5. Consequently, miscellaneous [petitions pending, ][if ][any, ][shall]stand closed. Sd/. K. SRINIVASA [o]JOINT REGISTRARSECTION OFFICER //TRUE COPY// To, 1. The lncome Tax [Appellate Tribunal, Hyderabad ]['B' ][Bench' Hyderabad]2 The Commissioner [of ][lncome ][Tax ][(Appeals)-lV, Hyderabad'] 3. The Deputy Commissioner [of lncome ][Tax ][Circle ][3(3), Hyderabad'] 4.OneCCtoMr.J.V.Prasad,SeniorCounselforlTDepartment 5. One CC to [Sri ][A.V. Krishna ][Kaundinya, ][Advocate ] ] 6. Two CD CoPies karn Yx HIGH COURT DATED:1010212025 JUDGMENT lTTA.No.362 of 2010 DISMISSING OFTHE APPEAL s.rddV.i6n Sd/. K. SRINIVASA [o]JOINT REGISTRARSECTION OFFICER //TRUE COPY// To, 1. The lncome Tax [Appellate Tribunal, Hyderabad ]['B' ][Bench' Hyderabad]2 The Commissioner [of ][lncome ][Tax ][(Appeals)-lV, Hyderabad'] 3. The Deputy Commissioner [of lncome ][Tax ][Circle ][3(3), Hyderabad'] 4.OneCCtoMr.J.V.Prasad,SeniorCounselforlTDepartment 5. One CC to [Sri ][A.V. Krishna ][Kaundinya, ][Advocate ] ] 6. Two CD CoPies karn Yx HIGH COURT DATED:1010212025 JUDGMENT lTTA.No.362 of 2010 DISMISSING OFTHE APPEAL s.rddV.i6n nf:l ATr6(c16ItPfln6oott r,ESf,A.(