Itta/417/2018 Of Prl. Commissioner Of Income Tax v. M/S. Sathvahana Ispat Limited

IN THE HIGH COURT THE AT HYDERABAD MONDAY, THE FOURTH OF TWO THOUSAND AND TWENTYTHREE PRESENT t [3386 ]I THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE LAXMI NARAYANA INCOME TN( TRIBUNAL APPEAL [No: 417 ][of ][2018] lncome Tax Tribunal Appeal Under Section [260-4 of ][the ][lncome Tax ][Act, ][1961]arising out of the order of the lncome{ax Appellate [Tribunal, Hyderabad ][Bench ][' ] [']Hyderabad, in ITA No.517/Hydl2o07, for Assessment [Year 2003-2004 ][dated ][12-09-]2008 preferred against the Order of the Commissioner [of ][lncome Tax (Appeals)-lV,]Hyderabad, Appeal No.153/DCIT-3(1yClT(A)-lV/06-07 [dated:15-02-2007, ][preferred]against the Order of the Deputy [Commissioner ][of ][lncome ][Tax, ][Circle-3(1)']Hyderabad PAN/GlR No.AACCS8982USA-201, [dated ][31-03-2006.] Between: Principal Commissioner of lncome Tax-3, [1Orh ][Floor, ][Signature Towers, Opp-]Botanical Garden, Kothaguda, Kondapur, [Hyderabad.] ...Appellant AND M/s Sathvahana lspat Limited, 505, [Divyashakthi ][Complex, ][Ameerpet,]Hyderabad- 500 0166 [(PAN ][No. ]AACCS8982USA-201) ...Respondent Counsel for the Appellant: SRI [B. ][NARASIMHA SARMA, ][Sr. ] [lT]DEPARTMENT Counsel for the Respondent: Ms. [B. SAPNA ] The Court delivered the following: I'HE HON'BLE SRI JUSTICE ]P.SAM KOSI{Y AND THE HON'BLE SRI JUSTICE LAXMI NARAYANA ALISHETTY I.T.T.A. No.417 of 12O18 J-_U_D_G$F{!:6r er t lLtt bl<' Sri J.r.str..e P.Ii,4J|, KOSIly./ Heard learnecl Counscl for the appellant and learnedcourlscl for ttrc rcspondent 2. 'l[-ris appeal r.lnder SL.ction 260A of t-he Income Tax Act,1 96 1 . has I>cen prr:ferred by the Iir:venue as the appellantaqainst thc ordc| dt,12.09.2008 passed by the lncome 'I'ax/ti:pt'ilatc ['[r'ibunal ], I-lydcrabad Bench 'B', ]l,1,derabad,1nI1'A.No.517l11 .t,cl l?,OC'l for the assessln€,nt year 2OO2-2OO3.3. Central l}rard of Dircct 'l'a-xes (CIIDT) has issued Circularl,io.I7 of 2019 dt.08.08.20 I9, amendir.rg the previotrs CircularNo.il of 20 18 dt. | 1 .O'i .2O I B, bv lurther cnhancing the monetarnlirniLs for f-i1ing erltpr:zLls b1' thc Income Tra-x DepartmenL belorc t_heIncome Ter-x Appellate Tribur-rals, i{igh Cr)urts and SlrprcmeCourt as a meas)ur-c for reducing litigati:n. Tn paragraph 2 of thcsaeicl Circr-r1ar, ri'c find that the moltetar')/ limit fixed for liling anappcal bcfor,,r the llitlh Court is Rs.l .00 clore 4limit. In the instant appeal, tax effect ts well belolv the monetaly 5. Therefore, the appeal filed by the Department is dismissedin terms of the aforebaid Circular No.17 of 2019 dt.OB.OB.2Ol9.However, if the appeal comes within the exception underparagraph 10 of Circular No.3 of 2OIa, ft would be open to theIncome Tax Department to seek revival of the appeal. No orderas to costs. 6. Consequently, miscellaneous petitions pending, if any,shall stand closed. Sd/- B.S.CHIRANJEEVIJOINT REGISTR]IR-//TRUE COPY//€-''SECTION OFFICER To, 1 . The lncome-tax Appellate Tribunal, Hyderabad Bench ' B ' Hyderabad. 2. The Commissioner of lncome Tax (Appeals)-lV, Hyderabad. 3. The Deputy Commissioner of lncome Tax, Circle-3(1 ), Hyderabad 4. One CC to SRI B. NARASIMHA SAR[/A, Sr SC FOR lT DEPARTIVENTloPUClloPUCl 5. One CC to Ms. B. SAPNA REDDY, Advocate 6. Two CD Copies kam NJB,x\-\[x] HIGH COURT DATED:04/0912023 JUDGMENT !TTA.No.417 of 2018 THE APPEAL ISDISMISSED i,: [1][ B ][ti;I ][?-$J] ,:',