Itta/416/2010 Of Commissioner Of Income Tax-Vi v. Hansa Overseas Eenterprises

IN THE HIGH COURT FOR THE STATE AT HYDERABAD MONDAY, THE THIRD DAY TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE [P.SAM KOSHY]ANDTHE HONOURABLE SRI JUSTICE INCOME TAX TRIBUNAL APP [NO: 416 OF ][2010] Appeal under section 260 A of the [lncome ][Tax ][Act' ][1961 ]' [against ][the]orders dated 29_03.2005 [passed ][in ] [No.1210/Hydl2000 ][for ][the ][Assessment]year 2001-2OO2 on the file of the court of the lncome [Tax ][Appellate ][Tribunal]i{yderabad Bench ["8" ][preferred ]against [the ][Order dated: ][08. ][10.2004 ][passed ][in]Appeat No.0101/ACIT-7(1)/ClT(A)-Vl/2004-05 [on the ][file ][of ][the ][commissioner of]lncome-Tax (Appeals)-Vl 12rH Fioor, [Gagan ][Vehira, ][M.J ][Road, ][Hyderabad-S00]001 [preferred ]against the [order dated: ][3'1 ][.03.2004 passed ][in ][PAN/GlR.NO']AABFHOSSGJi H-301 on the file of the [Assistant ][Commissioner ][of ][lncome ][Tax]Circle-7(1 ), Hyderabad. Between: Commissioner of lncome Tax-Vl, [Hyderabad] ...APPELLANT AND Hansa Overseas Enterprises, [1 ][2-2-7 ][09, ][Beerban, ][Hyderabad] ...RESPONDENT Counsel for the Appellant(s):SRl. S Counsel for the Respondents: A V KRISHNA The Court made the following: ORDER THItr HON'BLE SRI JUSTICE P.SAM KOSHYAND THE HON'IILE SRI JUSTICE NARSING RAO NANDIKONDAINCOME TA)( TRIBUNAL APPEAL No.4l6 of 2OlO JUDGMENT: (per the Hon'ble Sn Justice p. Sam Koshg) Heard Ms. Bokaro Sapna Reddy, learned Junior StandingCounsel for Income Tax appearing on behalf of the appellant andMr. A.V. Krishna Koundinya, learned counsel for the respondent.Mr. A.V. Krishna Koundinya, learned counsel for the respondent. t2. The instant appeal under Section 260A of the Income. Tax Act,I1961, has been preferred by the Revenue as the appellant against theorder dated 29.o3.2oos passed by the Income Tax Appellate Tribunal,Hyderabad "8" Bench, Hyderabad, in I.T.A.No. t2lO/Hycl/2OO4 for theAssessment Year 2OO1-O2. 3. centra-l Boar-d of Direct Taxes (CBDT) has issued circular No.9 of2024 dated l7-o9.2o24, amending the previous circular No.S of 2o24dated 15.o3- 2o2a, by further enhancing the monetary limits for hlingappeals by the Income Tax Department before the Income Tax AppellateTribunals, High courts and Supreme court as a measure for reducinglitigation. In paragraph 2 of the said circular, we find that the monetarylimit fixed for filing an appeal before the High court is Rs.2.o0 crore. 4. In the instanr appeal, tax effect is well below the moneta5r limit. 5. Therefore, the appeal frled by the Revenue 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 of the [appeal-]No costs. 6. As a sequel, miscellaneous applications pending if any, shallstand closed. Sd/- K. SRINIVASA RAOJOINT REGISTRAR //TRUE COPY// ECTION OFFICER To 1. The lncome Tax Appellate Tribunal Hyderabad Bench "B". 2. The Commissioner of lncome-Tax (Appeals)-Vl 12rH Floor, Gagan Vehira,M.J.Road, Hyderabad-S0O 001M.J.Road, Hyderabad-S0O 001 3. The Assistant Commissioner of lncome Tax Circle-7( 1), Hyderabad. 4. One CC to SRl. S R ASHOK, Advocate IOPUCI IOPUCI5. One CC to SRl. A V KRISHNA KOUNDINYA, Advocate 6. Two CD Copies pr \ HIGH COURTDATED: 0310212025 JUDGMENTo[o-][ttrE ][sI4][ .€:]f'-)('ITTA.No.416 of 2010)0 3 l\1A:i 2025z'9)a%lit.e.iI,oAT1.L\ql DISMISSING THE I.T.T.A I