Itta/451/2012 Of Commissioner Of Income Tax-Iii v. M/S.shrilekha Hire Purchase Finance Limited

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD MONDAY, THE SEVENTEENTH DAY OF FEBRUARYTWO THOUSAND AND TWENTY FIVE PRESENT , , THE HONOURABLE SRI JUSTICE P.SAM KOSHYANDTHE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNA L APPEAL NO: 451 OF 2012 Appeal filed under Section 260(4) of the lncome Tax Act, 196.1, against theorder dated 03-03-20'10 passed in lrA.No. 927lHydt2004 for the assessment year2001-2002 on the flle of the lncome Tax Appellate Tribunal Hyderabad Bench ,B'Hyderabad preferred against the order dated 13-07 -2004 passed in Appeal. No.37lAclr-3(1)/clr(A)-lv/04-05 on the file of the commissioner of lncome Tax(Appeals)lV, Hyderabad preferred against the order dated 15-03-2004 passed inPAN/GIR No.sH-82/ AAccsg03BD on the file of the Assistant commissioner oflncome Tax, 3('1), Hyderabad. Between: Commissioner of lncome Tax-lll, lT Towers, AC Guards, Hyderabad ...APPELLANT AND M/s. shrilekha Hire Purchase Finance Limited, 1o-3-s614t1, East Marredpally,Secunderabad. ...RESPONDENT Counsel for the Appellant: Ms. Bokaro Sapna Reddy,Standing Counsel for lncome Tax Counsel for the Respondent: The Court delivered the following JUDGMENT: THE HON'BLE SRI JUSTICE P.SAM KOSHYAND THE HON'BLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAx TRIBUNAL APPEAL !to.451 OF 2012 JUDGMENT: (!Et Hon'bl' sn rustice P.s<,m Koshs) Heard Ms.Bokaro Sapna Reddy, learned Standing Ccunsel forIncome Tax, appearing on behalf of the appellant. 2. The instant appeal under Section 260A or thc lncome Tax Act,1961, has been preferred by the Revenue as i.ht appellat.rt aglainst theorder dated 03.03.2010 passed by the Income Ta-x Appellzrte ['l'ribunal,]Hyderabad "B" Bench, Hyderabad, in I.T.A.No.927 lllyd/2OCa for theAssessment Y ear 2OO | -2OO2. 3. Central Board of Direct Taxes (CBDT) has issueci Circr-tleLr No.9 of2024 dated 17.O9.2024, amending the previorts Circtrlar No.i-r of 2O24dated 15.03.2024.l>y further enhancing the monetaty litnits for frlingappeals by the Income Tax Department l)r,ore the Income TexAppellate Tribunals, High Courts and Supreme {)ourt a.s .r rneasure forreducing litigation. In paragraph 2 of the said Circular, u.e hrrd thatthe monetary limit fixed for fiiing an appeal bt'li;:-e the l-ligh Court isRs.2.OO crore. II 4. In the instant appeal, tax effect is weli below the monetary limit. 5. Therefore, the appeal fired by the Revenue is dismissed in termsof the aforesaid Cir<:ul:rr No.9 of 2024 d.ated, lZ.Og.2O24. However, ifthe appeal comes within the exception of Circular No.S of 2024, itwould be open to the Income Tax Department to seek revival of theappeal. No costs. 6As a scquel, nris<:ellaneous applications pending if any, shallstand closeclstand closecl SD/-K.SRINIVASA JOINT REGISTRAR \//TRUE COPY// ECTION OFFICER To, 1. The lncome Tax Appellate [Tribunal Hyderabad Bench 'B' Hyderabad] 2. The Commissioner of [lncome Tax (Appeals)lV, ][Hyderabad] 3. The Assistant [Commissioner ][of ][lncome Tax, 3(1), Hyderabad'] 4. One CC to Ms. [Bokaro ][Sapna Reddy' ][Standing Counsel ][for ][lncome ][Tax]loPUClloPUCl 5. Two CD CoPies VH/PSb- HIGH COURT DATED:1710212025 JUDGMENT lTTA.No.451 of 2012 DISMISSING ITTA o B[ItiE ] Itooo,-I,I-:l? 1 Afi, ?J::5a* It-':-