Itta/453/2012 Of Commissioner Of Income Tax-Iii v. M/S. Rasa Agrotech Private Ltd

IN THE HIGH COURT FOR AT HYDERABADTUESDAY, THE EIGHTEENTH DAY OF FEBRUARYTWO THOUSAND AND TWENTY PRESENT THE HONOURABLE SRI JUSTICE P.SAM ANDTHE HONOURABLE SRI JUSTICE NARSING INCOME TAX TRIBUNAL APPEAL [NO: 453 OF ][2012] Appeal filed under Section 260(4) of the [lncome-Tax ][Act ]' [1961, against ][the]order dated 18.02.2011 [passed ]in [lTA.No. ][1277lHydl2l1o ][for the ][assessment ][year]2OO7 -OB on the file of the lncome Tax [Appellate Tribunal Hyderabad Bench ]['B']Hyderabad preferred against the Order [dated ][26.07.2010 ][passed ][in ]flppeal [No]219tAcff -3(1)tClT(A)-lV/2009-10 on the [file of the ][Commissioner ][of ][lncome ][Tax](Appeals)-lV, Hyderabad preferred against the Assessment Order [dated 24.12-2009]passed in PAN/GIR No. on the file of the Deputy [Commissioner ][of]lncome Tax, Circle 3(1), Hyderabad. Between: Commissioner of lncome Tax-lll, [lT Towers, A.C. Guards, ][Hyderabad] ...Appellant AND M/s. Rasa Agrotech Private LTD., Unicorn [House ][No. ][3, ][Nr. ][Gunrock Diamond]Point, Transport Road, Secunderabad [- 500 ][009] ...Respondent Counsel for the Appellant: Ms. B. Sapna Reddy Standing [Gounsel]representing Mr. J.V. Prasad SeniorStanding Counsel for the Income [Tax]Department Counsel for the Respondent : Sri [Ch Pushyam Kiran] The Court made the following: ORDER I, THE TION0URABLE [P.SAM ] ANDTHE HONOTJRABLE [RA(f]NANDIKONDA ITTA No.[4s30F ][2012] JUDGMEN'[; [r][per ][Hon'ble ][Sri ][Justice ][P.Sam ][Koshy)] Heard N[;. [B-Sapna ][Reddy, ][leamed ][Junior ][Standing] Counsel [repres'r ][lting ][Mr. ][J'V'Prasad, leamed ][Senior ][Standing]Counsel for [r-he ][Income ][Tax ][Department ][for ][the appetlant' ][Perused]the record. Thisr appeal [[under Section ]][[260A ][of ][the ][Income ]][[of ][the ][Income ]][[the ][Income ]][[Income ]][[Tax Act']] 2. Thisr appeal [[under Section ]][[260A ][of ][the ][Income ]][[of ][the ][Income ]][[the ][Income ]][[Income ]][[Tax Act']]1961, har; [bet:rt ][preferred ][by ][the ][Revenue ][as ][the ][appellant]the [orrl':r ][dated ][18.02'2011 ][passed ][by ][the ][Inconle ][Tax]against Appellate [Tri:una[, ][Hyderabad ][Bench ]['B" ][Hycterabad' ][in]I.T.A.No.1277 [for ][the ][Assessnient ][Year ][2007-08']3. Central 'loard [of ][Direct ][Taxes ][(CBDT) ][has ][issued ][(lircular]No.9 of 11024 [dated ][17.09.2024, ][amending ][the ][previous ][(lircular]No.5of20l]4rtated15.03.2024,byfurtherenhancingthemonetarylimits for filini; [appeals ][by ][the Income ][Tax ][Departmerrt ][belore ][the]Income Tax Appellate [Tribunals, ][High ][Courts and ][Supreme ][Court] , I o as a measure for reducing [litigation. ][In ][paragraph ][2 ][of ][the ][said]Circular, we find [that ][the monetary ][limit ][fixed ][for filing ][an ][appeal]before the High Court [is Rs.2.00 ][crore.] 4In the instant appeal, [tax effect ][is well ][below the ][monetary]limit. 5Therefore, the appeal [filed ][by ][the Department ][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. ][There shall ][be ][no order ][as ][to costs'] 6. Consequently, miscellaneous [petitions ][pending, ][if ][any, ][shall] stand closed. Sd/. K. SRINIVASA JOINT REGISTRAR//TRUE COPY//SECTION \To, 1. The lncome [Tax ][Appellate Tribunal Hyderabad ][Bench'B' ][Hyderabad'] Z. fhe Commissionei [of lncome ][Tax ][(Appeals)-lV' ][H-yderabad']5. fn" O"prty [Commissioner ][of ][lncome Tax, Circle ][3(1)' ][Hyderabad.]io [Ms ][B. ][Sapna ][Reddv ][Standing ][Counsel ][for ][lncome]5. fn" O"prty [Commissioner ][of ][lncome Tax, Circle ][3(1)' ][Hyderabad.]io [Ms ][B. ][Sapna ][Reddv ][Standing ][Counsel ][for ][lncome];. o;;-C'C Tax 6. Consequently, miscellaneous [petitions ][pending, ][if ][any, ][shall] stand closed. Sd/. K. SRINIVASA JOINT REGISTRAR//TRUE COPY//SECTION \To, 1. The lncome [Tax ][Appellate Tribunal Hyderabad ][Bench'B' ][Hyderabad'] Z. fhe Commissionei [of lncome ][Tax ][(Appeals)-lV' ][H-yderabad']5. fn" O"prty [Commissioner ][of ][lncome Tax, Circle ][3(1)' ][Hyderabad.]io [Ms ][B. ][Sapna ][Reddv ][Standing ][Counsel ][for ][lncome]5. fn" O"prty [Commissioner ][of ][lncome Tax, Circle ][3(1)' ][Hyderabad.]io [Ms ][B. ][Sapna ][Reddv ][Standing ][Counsel ][for ][lncome];. o;;-C'C Tax 5.ffi 3TffJLi?8 [h, ][El,L?;yf ][tira ][n, ][Advocate ][to ][p u ][cl]6.Two CD CoPies6.Two CD CoPiesDL/gh :l l HIGH COURT DATED:18/02120125 JUDGMENT 1TTA.No.453 of 2012 DISMISSING THE II-TAa[5]\ 1HE9[=:-=^.]r,qri-(o+q-)+/204AP2Mi,/ofa\l/z.. -:-----'?