Itta/39/2010 Of Commissioner Of Income Tax Ii, Hyderabad v. M/S. Gulf Oil Corporation Limited

IN THE HIGH THURSDAY, THE THIRTIETH TWO THOUSAND AND PRESENT THE HONOURABLE [SRI JUSTICE P.SAM KOSHY]ANDTHE HONOURABLE SRI [JUSTIGE NARSING RAO NANDIKONDA] INCOME TAX TRIBUNA [NO: ][39 ] [2010] lncome Tax Tribunal Appeal [under ][section 2604 ][of ][the ][lncome ][Tax ][Act, ][1961], against the order dated [25-09-2007 passed ][in ][lTA.No.403/Hyd/06 ][for ][the]Assessment Year 2004,05 [on ][the ][file ][of ][the ][lncome ][Tax ][Appellate ][Tribunal,]Hyderabad Bench [,A,, ]Hyderabad' [preferred against ][the order ][dated ][20-03.2046]passed in ITA No.302/ACtT-2(3)/ClT(A)-lll/05-06 [on ][the ][file ][of ][the commissioner of]lncome Tax (Appeals)-lll, [Hyderabad, preferred against ][the ][order ][dated ][15-12-2005]{-- !J passed in No.G-165/AC2(3) on the file of the Assistant [Commissioner ][of ][lncome]Tax, Circle 2(3), HYderabad. Between: Commissioner of lncome [Tax-ll, ][Hyderabad] ...Appellant AND M/s Gulf Oil Corporation [Ltd., ][Sanatnagar, ][Hyderabad] ...Respondent Ms K Mamata,Senior Standing Counsel [for ][lncome ][Tax] Counsel for the APPellant Department Counsel for the Respondent [: ]Sri Y Y RatnakarThe Court delivered the [following ][Judgment ][:] Sri Y Y Ratnakar *'ra ,. THE HON'BLE SRI JUSTICE P.SAM KOSHYAND THE HON'BLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL No.39 OF 2OlO JUDGMENT'. @er tio t'bie iri Ju-sr,ce Psom Kosrtyl Heard Ms.X.Mamata, learned Senior Standing Counsel forIncome Ta-x, apperrnng on behalf of the appellant. 2. The instant appeal under Section 260A of the Income Tax Act,1961, has been preferred by the Revenue as the appellart against the:, [\q ][order dated 25.09.2007 ][passed ]by [the ][Income ]Ta-x Appellate Tribunal,Hyderabad '4" Bench, Hyderabad,11-lI.T.A.No.403/Hvd/06 for theAssessment Year 21004 O5 3. Central Boa.rd of Direct Taxes (CBDT) has issued Circular No.9 of2024 dated 17.Og.2024, amending the previous Circular No.5 of 2024dated 15.03.2024, by further enhancing the monetar5z limits for filingappeals by the Income Tax Department before the Income TaxAppellate Tribunals, High Courts and Supreme Court as a measure forreducing litigation. In paragraph 2 of the said Circular, we find thatthe monetary limit fixed for filing an appeal before the High Court isRs.2.OO crore. I I i : :> .&," In the instant appeal, [tax ][effect ][is ][well below ][the monetary ][limit'] 4 5. Therefore, the appeal filed [by ][the ][Revenue ][is ][dismissed ][in ][terms]of the aforesaid Circular [No.9 ][of ][2024 ][d,ated ][17.09.2024' ][However, ][if]the appeat comes within [the ][exception ][of Circular ][No'5 ][of ][2024 ]' [it]would be open to the Income [Tax Department ][to ][seek ][revival of ][the]appeal._ No costs. 6As a sequel, miscellaleous [applications ][pending ][if ][any,]sha11stand closed. sd/- AV.s-s eRgti$EX* //TRUE SECTION To,LThe lncome [Tax Appellate ][Tribunal' ][Hyderabad Bench ]['A" ][Hyderabad]2The Commissioner [of lncome Tax ][(Appeals)-lll' ][Hyderabad]3The Assistant [Commissioner of lncome ][Tax' ][Circle ][2(3)' ][Hyderabad]4One CC [to Ms ] [Mamata' Senior Standing ][Counsel ][for ][lncome ][Tax]Department [OPUCILThe lncome [Tax Appellate ][Tribunal' ][Hyderabad Bench ]['A" ][Hyderabad]2The Commissioner [of lncome Tax ][(Appeals)-lll' ][Hyderabad]3The Assistant [Commissioner of lncome ][Tax' ][Circle ][2(3)' ][Hyderabad]4One CC [to Ms ] [Mamata' Senior Standing ][Counsel ][for ][lncome ][Tax]Department [OPUCI Advocate 5. One [to ][Sri ] [Ratnakar'] 6. Two [CD CoPies] VA/gh\qr iIIl II HIGH COURT DATED:301O112025 1$ET,AIt-)o16 APn zlE.bItJUDGMENT oEsp,11cITTA.No.39 of 2010 DISMISSING THE ITTA 4.*S4\,iK,*