Itta/381/2010 Of The Commissioner Of Income Tax-Iii v. M/S.vbc Ferro Alloys Ltd

I IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD MONDAY, THE TENTH DAY OF FEBRUARYTWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHY THE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO: 381 OF 2010 Appeal filed under Section 260(4) of the lncome-Tax Act., 1961, against theorderdated 31-07.2008 [passedinlTA.No. ]1001iHydl2000fortheassessmentyear2002-2003 on the file of the Court of the lncome Tax Appellate Tribunal HyderabadBench ['B' ]preferred against the Order dated: 27.O3.2008 [passed ]in lTA.No. 439/DC-3(3)/C|T(A)-|V/07-OB A.Y 2002-2003 on the frle of the Court of the Commissioner oflncome Tax (Appeals)-lV, Hyderabad preferred against the Assessment Orderdated.24.12.2007 passed in PAN/GIR No on the file of the Court ofthe lncome Tax Department, Deputy Commissioner of lncome Tax, Circle3(3),Hyderabad. Between: The Commissioner of lncome Tax-lll, lT Towers, Masabtank, Hyderabad ...APPELLANT AND M/s. VBC Ferro Alloys Ltd, 6-2-913/914, 3'd Floor, Progressive Towers,Khairtabad, Hyderabad. ...RESPONDENT Counsel for the.Appellants: Sri J.V. Prasad, Standing Counsel for lncome TaxCounsel for the Respondents: Challa Nagendra PrasadThe Court delivered the following JUDGMENT: II THE HoNOURABT,E SRI JUSTICE P.SAI\I KOSHYANDTHE HoNOURABLE SRI JUSTICE NARSING RAONANDIKONDA ITTA No.381 OF 20r0 JTJDGMENl' fiter Hon'hle Sri .Iu:stice P.Sam Koshy) Heard Ms. B.Sapna Reddy, leamed Junior StandingCounsel reprcsenting Mr. J.V.Prasad, learned Senior StandingCounsel fbl llrc Income Tax Department for the appellant. Perusedthe record 2. This appeal undcr Section 260,4 of the Incorne l'ax Act.I 961, has l.,een prelerred by the Revenue as the appellantagainst thc order datcd 31.07.2008 passed by the Income ['I-ax]Appcllatc' Ilibunal, llyderabad Bench 'B', ]lydcrabad,IN1.1'.A.No. 100 l/tJyd/2008 firr the Assessment Year 2002-033. Central lloard ol Direct Taxes (CBDT) has issucd CircularNo.9 of 2024 dated 17.09.2024, amending the previous CircularNo.5 of 2024 dated 15.03.2024, by further enhancing the monetarl'limits fol frling appeals by the Income Tax Departrnent before thcIncome Tax r\ppellate 1'ribunals, High Courts and Supreme Court II a as a lneasure [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'] 1. In the instant [appeal, ][tax ][effect is ][well ][below ][the ][monetary]lirnit. 5. Therefore, [the ][appeal ][filed ][by ][the ][Department ][is ][dismissed ][in]tems of [the ][aforesaid ][Circular ][No'9 ][of ][2024 ][dated ][17 ]['09'2024']I{owever,'it [the ][appeal comes ][within ][the ][exception ][of ][Circular]No.5 oi [2024, ][it ][would ][be ][open to the lncome ][Tax ][Departrnent to]seek revival [ofthe ][appeal' There shall be ][no ][order ][as ][to costs'] 6, Consequently, [miscellaneous ][petitions ][pending' ][if ][any' ][shall] stand closed. Sd,. [K.][ SRINIVASA RAO]INT REGISTRAR//TRUE [COPY/']ECTION To,1lncome [Tax,]23il: [s,:"ffi+Eii ][sfl ][:;: ][# ][:#l#flffitt ][H[{r?l:r ]["']4.5Effi itiiEii[x],:'ffi [gbl',","'r,['rJ:iJ"*#?331q]b.iwo CD [CoPies]Vtl/gh+p IIIj I HIGH COURT DATED: 1010212025 JUDGMENT ITTA.No.381 of 2010 DISMISSING THE ITTA B j ,,i I[Q6o2 [til\i\ ][?[25]al*t DssP,rr