Itta/424/2006 Of The Commissioner Of Income Tax-Iii, Hyderabad v. M/S. V.b.c. Ferro Alloys Limited

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD WEDNESDAY, THE SECOND DAY OF AUGUSTTWO THOUSAND AND TWENTY THREE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE A. LAXMI NARAYANA INCOME TAX TRIBUNAL APPEAL No:424 OF 2006 lncome Tax Tribunal Appeal Under Section 2604 of the lncome Tax Act,1961 arising out of the order of the lncometax Appellate Tribunal, Hyderabad Bench' B' Hyderabad, in ITA No.1226lHydl2004, for Assessment Year 2000-2001dated:15-09-2005, preferred against the Order of the Commissioner of lncome Tax ,(Appeals) lV, Hyderabad, Appeal No.9/AC-3(a)iClT(A)-lV/04-05,dated:7-10-2004,preferred againsl the Order of the Assistanl Commissioner of lncome TaxCircle-3(4), Hyderabad PAN/GlR No.AAACV725BA / V-004 dated:05-03-2004. Between: The Commissioner of lncome Tax-lll, Hyderabad ...APPELLANT AND M/s. V.B.C. Ferro Alloys Limited, 6-2-913t914,3'd Floor, Progressive Towers,Khairatabad, Hyderabad. ...RESPONDENT Counsel for the Appellant: SRI J.V. PRASAD, SENIOR SC FOR INCOME TAXCounsel for the Respondent: SRI CHALLA GUNARANJANThe Court delivered the following: JUDGMENT T IIi HON'BLE SRI JUSTICE P.SAM KOSIN' AND THE toN'BLE SRI JUSTICE A. LAXIVII NARAYI\N.A I.T.T.A. No. 424 of 2O06 JUDGMENT;[g.r,t ]. t bl,z Si,htstrc.r [P. ]SA.[I I(OSIry/ Hear,l Sri [\r.Frasad, ]learncd Senior Stalding Col-r rs;el appearing forthe:rppellalt. 2. This appeI urder Section 2(i0A of the Income ['I'z ]x Act, 1961, hasbeen prefe:re<lrv 1.he Revenue as the appellrtrLt ir11ir nst the orderdr, t:t.09.20r15 Pr;sed by the lncome Ta>i Appellate ['li-itu.ta]. ]HyderabadBench ['B', ]I{vrlcrbird in LT.A.No.1226lHydl2OO4 f;r the.d.sse;smenL Ycar2000-01 . 3. Central Bru-l :f Dircct ['lnxcs ](CBDT) has issued ll [.cu ]ar No.17 of20 r9 dt.08.08.2J 9, amending tlre previous C:rcula: No.3 of 2018dr. I r.07.20 l8 r;l- rr her enhancing the rnonetary limits lirr fi ing appcalsby the lncorle 1'r( D€par'l-ment bcfore the lncome Tax Appt: a1: Tribunals,I Iigh Courts anrlS:rpremc Court as a measure for red,,r:irrEj litigation. Inparagraph 2l of t.3 said Circular, wt: find that the rnonet,lr', Iirnit hxed forfiling zrn app,eal b[ore the High Courr is Rs.1.OO cror,:. 4. In the in str1t appeal, tax efl'ect is well below the mor rer ary limit. 5. 'lhereforr:.rr appeal hled bi the Department s disr:ri.,sec in terms ofthe ;rforesair l [(lir<]rLar l,io.17 ot 2019 dt.08.08.2019. Hou'er,r:r, i' the appealcomr:s withi n tltr::xception undcr paragraph 10 of Circular I'lo.li of 20I8, it ..--. ,I would be open to the Income Tax Department to seek reviyal of the appealNo order as to costs 6Consequently, miscellaneous petitions pending, if aly, shall standclosedpetitions pending, if aly, shall standclosed Sd/.C.V.MALLIKARJ UNA VMAJOINT REGITRAR //TRUE COPY// SECTION OFFICER To,1 . The lncometax Appellate Tribunal, Hyderabad Bench ' B' Hyderabad.2. The Commissioner of lncome Tax , (Appeals) lV, Hyderabad.3. The Assistant Commissioner of lncome Tax Circle-3(4), Hyderabad.4. One CC to SRI J.V. PRASAD, SENIOR SC FOR INCOME TAX 5. One CC to SRI CHALLA GUNARANJAN, Advocate IOPUC]6. Two CD Copieskam HIGH COURI DATED:0210t [t2.023] JUDGMENT ITTA.No.424 rfi 2006 THE APPEA -IS DISMISSE ) I..$ill==s\a,};: 6)U{r(.t)