Itta/472/2010 Of The Commissioner Of Income Tax-V v. Sri K.mohan Prasad

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD MONDAY, THE TENTH DAY OF FEBRUARYTWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYANDTHE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO:472 OF 2010 lncome Tax Tribunal Appeal Under Section 2604 of the lncome Tax Act,196'1against the Order dated 24-10-2008 passed in ITA No. 199/Hyd/2007 for theAssessment Year 2003-2004 on the file of the lncome Tax Appellate Tribunal,Hyderabad Bench 'B', Hyderabad preferred against the Order dated 16-11-2006passed in Appeal No.03 1 6/05-06/lTOAl/d -1 0(4)lHydlClT(A)-Vl/2006-07 on the file ofthe Commissioner of lncome Tax (Appeals)-Vl, Hyderabad preferred against thepassed in Appeal No.03 1 6/05-06/lTOAl/d -1 0(4)lHydlClT(A)-Vl/2006-07 on the file ofthe Commissioner of lncome Tax (Appeals)-Vl, Hyderabad preferred against theOrder dated 30-'1 1-2005 passed in P.A.N./G.l.R. No,AFt\ilPJ29O7F on the file of thelncome Tax Officer, Ward -10(4), Hyderabad.lncome Tax Officer, Ward -10(4), Hyderabad. Between: The Commissioner of lncome Tax-V, lT Towers, Masabtank, Hyderabad ...Appellant AND Sri K.Mohan Prasad, H.No.1-1-92, RP Road, SecunderabadCounsel forthe Appellant: Ms. Sapna Reddy, representingSri J V Prasad, Sc for lncome Tax ...Respondent Counsel forthe Respondent: Sri K Raji Reddy The Court delivered the following: Judgment THE HI)NOURABLE SRIJUSTICE P.SAM KOSHYANDTHE HoNOURABLE SRI JUSTICE NARSTNG RAONANDIKONDA ITTA No.472 OF 2010 JUDGMENI-: [(per ]Hon'ble Sri Justice P.Sam Koshy) Heard Ms B.Sapna Reddy, leamed Junior StandingCounsel reprlsenting Mr. J.V.Prasad, leamed Senior StandingCounsel for tlLe Income Tax Department for the appellant. perusedthe record 2. This aJ,pea under Section 260.{ of the Income Tax Act,1961, has b:en preferred by the Revenue as the app,:llantagainst the order dated 24.10.2008 passed by the Incorne T'axAppellate fr ibur al, Hyderabad Bench 'B', Hl,derabad, inI.T. A.No. 1 991 11 / y dl 2rJ07 for the Assessment year 2003 -04. 3. Central Board of Direct Taxes (CBDT) has issuecl CircularNo.9 ol 2024 dated 17.09.2024, amending the previous Cir;ularNo.5 of 2024 laterl 15.03.2024, by further enhancing the mon:rarylimits for filin3 appeals by the Income Tax Department befor,: theIncome Tax Appt:llate Tribunals, High Courts and Supreme Ooun as a measure for reducing litigation. In paragraph 2 of the saidCircular, we find that the monetary limit fixed for filing an appealbefore the High Court is Rs.2.00 crore.Circular, we find that the monetary limit fixed for filing an appealbefore the High Court is Rs.2.00 crore. 4In the instant appeal, tax effect is well below the monetarylimitlimit 5. Therefore, the appeal filed by the Department is dismissed interms of the aforesaid Circular No.9 of 2024 date:d 17.09.2024.iJowever, if the appeal comes within the exception of CircularNo.5 of 2024, it would be open to the Incorne Tax Department toseek revival ofthe appeal. There shalr be no order as to costs. 6. Consequently, rniscellaneous petitions pending, if any, shallstand closed. Sd/- K. SRINIVASA RAOJINT REGISTRAR//TRUE COPYIICTION OFFICER To, '1. The lncome Tax Appellate Tribunal, Hyderabad Bench 'B', Hyderabad2. The Commissioner of lncome Tax (Appeals)-Vl, Hyderabad3. The lncome Tax Officer, Ward -'10(4), Hyderabad4 one CC to Sri J V Prasad, Sc for lncome Tax, IoPUC]5. One CC to Sri K Raji Reddy, Advocate 6. Two CD Copies ADK/ghw HIGH COURT DATED:10 t02t2O2S JUDGMENTITTA.No.4T2 of 2O1O DISMISSING THE ITTAWITHOUT COSTS t.rd4X#' --'a':=:'1s' tFc,I//<7(;'' ":'*' i [r,;.:]ir:-7iii 02 \PF2[?5Cri'i :.t..')o' [';//]\: * -"\_ irr ' r'i.?