Itta/391/2010 Of The Commissioner Of Income Tax -Iii v. M/S Vst Industries Limited

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD MONDAY, THE TENTH DAY OF FEBRUARYTWO THOUSAND AND TWENry FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYANDTHE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO: 391 OF 2010 Appeal filed under Section 260(4) of the lncome-Tax Act, against the orderdated. 09-05-2008 passed in lTA.No. 586/Hyd/2005 (Asst. year 2000-01) on the fileof the lncome Tax Appellate Tribunal Hyderabad Bench 'A', Hyderabad preferredagainst the Order dated: 24-03-2005 passed in Appeal No.64/ACIT-3(4/C|T(A)-lV/03-04) on the file of the Commissioner of lncome Tax (Appeals)lV, Hyderabadprefened against the Assessment Order dated: 31-03-2003 passed in PAN/GIR No.AA./qCV6799CA/-178 on the file of the Assistant Commissioner of lncome Tax,lncome Tax Department, Circle 3(4), Hyderabad. Between: The Commissioner of lncome Tax -lll,, lncome Tax Towers, Masab Tank, Hyderabad- 500 004. ...APPELLANT AND M/s VST lndustries Limited,, Azamabad, Hyderabad - 500 020 ...RESPONDENT Counsel for the Appellant: SRI B. SAPNA REDDY, JUNIOR S.C. REP. FORMr. J.V.PRASAD, SENIOR S.C. Counsel for the Respondent: M/s. P. RAJENDER REDDY The Court made the following: JUDGMENT THE HONOURABLE SRI JUSTICE P.SAM KOSTIYANDTHE HONOURABLE SRI JUSTICE NARSIN(; RAONANDIKONDA I'I'TA No.39l OF 2010 JUDGMENT[(per ]Hon'ble Sri Justice P.Sam Koshy) Heard Ms. B.Sapna Reddy, learned Junior StandingCounsel representing Mr. J.V.Prasad, learned Senior StandingCounsel for the Income Tax Department for the appellant. I'erusedthe recorrl. 2. This appeal under Section 2604. of the [ncomc Tax Act.1961, has been preferred by the Revenue as thc appellantagainst tl.re order dated 09.05.2008 passed by the lncome ['l-ax]Appellate Tribunal, Ill,derabad Bench'A', lJydc-rabad.tI.T.A.No.586/Hyd/2005 for the Assessment Year 2000-01 [.]3. Cerrtral Board of Direct Taxes (CBDT) has issued C]irctrlarNo.9 of 2024 dated 17.09.2024, amending the prcvious CircularNo.5 of 2024 dated 15.03.2024, by further enhancing thc monetarylimits for filing appeals by the Income Tax Department belore theIncome Tax Appellate Tribunals, High Courts and Supreme Cor.rrl as a measure for reducing litigation. In paragraph 2 of the saidCircular, we find that the monetary limit fixed for filing an appealbel'ore the High Court is Rs.2.00 crore4. In the instant appeal, tax effect is rvell below the monetarylimit. 5. Therefore, the appeal filed by the Department is dismissed interms of the aforesaid Circular No.9 ol 2024 dated 17.09.2024.However, if the appeal comes u,ithin the exception of CircularNo.5 of 2024, it would be open to the Income Tax Department toseek revivai of the appeal. Ihere shall be no order as to costs. 6. Consequently, miscellaneous petitions pending, if any, shall.stand closed. sd/- K. [sRl]NNASA JOINTREGISTRARTION OFFICER //TRUE To,1. The [lncome ][Tax ][Appellate Tribunal Hyderabad ][Bench ]['A" ][Hyderabad][[Hyderabad]]1. The [lncome ][Tax ][Appellate Tribunal Hyderabad ][Bench ]['A" ][Hyderabad][[Hyderabad]] The 2. The The [[Commissioner ]][of ][lncome Tax ][(Appeals)lV' ][[Hyderabad]][[Tax' ]][[Tax' ]] 2. The The [[Commissioner ]]3. The [Assistant ][Commissi"on* oi ][f ][*orn" ][[Tax' ]][lncome Tax Department' ][Circle]3. The [Assistant ][Commissi"on* oi ][f ][*orn" ][[Tax' ]][lncome Tax Department' ][Circle] 3(4), [[HYderabad]] 3(4), [[HYderabad]]4 One CC [to Sri ][B Narasrmha ][Sarma Advocat" ][lgP^YCl]id [i" ][rtrlt ][p ][naienaer ][Reddv' Advocate ][[oPUC]]id [i" ][rtrlt ][p ][naienaer ][Reddv' Advocate ][[oPUC]];. ;'; o. Two [CoPies]Plp/gho. Two [CoPies]Plp/gh \? HIGH COURT DATED:1 010212025 JUDGMENTIHE (ITTA.No.391 of 2010oc03 APIl [zffi]rl DISMISSING THE APPEAL s,t'fsfo*o