Itta/52/2012 Of Commissioner Of Income Tax-Iii v. M/S. Navayuga Transtroy Jv

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD .'fuoruonv, THE sEVENTEENTH DAy oF FEBRUARy TWO IHOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYANDTHE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NOi 52 OF 2012 Appeal filed under Section 260(4) of the lncome-Tax Act, against the orderdated. 07-07-2010 passed in lTA.No.514/Hydl2010 for Assessment years 2005-2006 on the file of the lncome Tax Appellate Tribunal Hyderabad Bench [,8,,]Hyderabad preferred against the Order dated: 26-02.-2010 passed in Appealr-,.,1 [No.0082/lTO ]6(3)/ClT(A)-lV/07-08 [on ][the ][file ][of ]the Commissioner of lncome Tax(Appeals)-lV, Hyderabad preferred against the Assessment Order dated: 29-10-2007passed in PANiGIR No. AJtauAN 3691F/N-61'1 on the file of the lncome TaxDepartment. Between: Commissioner of lncome Tax-lll, lT Towers, A.C. Guards, Hyderabad ...APPELLANT AND M/s. Navayuga Transtroy JV,8-2-2931821N1259, Lakshmi Towers, Road No,36Jubilee Hills, Hyderabad ...RESPONDENT Counsel for the Appellant: Ms. BOKARO SAPNA REDDY, S.C. FOR l.T. Counsel for the Respondent: --- The Court delivered the following: JUDGMENT THE HON'BLE SRI JUS [P.] ANDTHE HON'BLE [ NANDIK(INDA] INCOME TA}( [ No.52 ] [2O11i] JUDGMENT: b<tltoL'bIe [snJ ][stice ][P.s".mKosha)]Heard Ms.Bokaro [Sapna ][Reddy, ][learned ][Stail'lirlg ][C'runsel for]Income Tax, appeeu-ing [on ][behalf ][of ][the appellant'] 2. The instant appeal [under ][Section ][260A ][ol ][Lhe ][Int:ore ][Ta;i ][Act']1961, has been [prt:ferrecl ][by ][the ][Revenue as ][the ][ap'reilant- ] [rgainst the]orderdatedoT.oT.2olopassedbythelncomeTa>:i\llpr:l1irt-Tribunai,"B'' [Br:r-rch, ][Hyderabad, ][in ][I.T'A'No ][514/'i-llid/2(rl0 ][for ][the]Hyderabad Assessment Year [120O5-06.] S.Centra]BoarrlofDirectTaxes(CBDT)hasi..;suect]ircll1arNo.9of2024daled'lT.og.2024,amendingthepreviortsCit.ll-i.ltlrNll.5<rf2l)24dated 15.o3.2 O24, by further [enhancing the ][mt-.nt:tnr-y ][iirlli:s ][fc'r ][llling]appeals by the [Income ][Tax ][Department ][be ][tix'e ][i ][iie ][lr ][rcorrre ][Tax]Appellate Tribunals, High [Courts ][artd ][Supreme ][tloiiI:' 3r ][i: ][rreasur': ibr]In [paragraph ][2 ][of ][the said ][(li;-': ][r ][[i";-, ][x ][c ][iind ][that]reducing litigatior-r. the monetary limi xecl for filing an appeal [}:eft;rc ][tlrc ][llir1h ][Cot-rrt ][is]Rs.2.OO crore. I ! t ,/ 4In tire instant a1-.peal, tax effect is well bekjw the monetary limit. 5. Therefore, the appeal filed by the Revenue is dismissed in termsoI the aforcsaid Circular No.9 of 2024 dated 12.O9.2O24. However, ifthe appeal comes inithin the exception of Circular No.S of 2024, itu,ould be open to the Income Tax Department to seek revival of theappeal. No costs. 6. As a se<1ucl. ntiscellaneous applications pending if any, shallsrand closcci Sd/. K. SRINIVASA JOINT TION OFFICER //TRUE To,1The [lncome ][Tax ][Appellate Tribunal ][Hyderabad. ][Bench ]['B" ][Hyderabad]2i';; i;;l..rnei [of ][lncome ][Tax ][(Appeals)-tv'iya^e17nao]3o;;;; [i; ][M; ][Bokaro ][sapna ][Reddv' ][s ][c ][for ][l ] [loPUCl]4Two [CD CoPies]Plpigha fv,[{$] j HIGH COURT DATED:1710212025 JUDGMENT ITTA.No.S2 of 2012 DISMISSING THE APPEAL. W .....-.--\=-:- r [i{E]JY(a2 / [t{r'it ][iBiS]*[.D].:0,EEP,T':lr,':' ,