Itta/553/2010 Of The Commissioner Of Income Tax-Iii v. Sri Vishnu Cements

IN THE HIGH GOURT FOR THE STATE OF TELANGANAAT HYDERABAD TUESDAY HE ELEVENTH DAY OF FEBRUARYTWO THOUSAND AND TWENTY FIVE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHYANDTHE HON'BLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL No: 553 of 20'10 lncome tax Tribunal Appeal under Section 260-4 of the lncome tax Act, 1961 ,against the Order of the lncome Tax Appellate Tribunal, Hyderabad Bench A,Hyderabad in ITA No.1221lHyd/o4 for Assessment Year 2OO1-O2 dated 09-01-2009,preferred against the Order of the Commissioner of lncome Tax (Appeals) lV,Hyderabad dated 23-09-2004 in Appeal No. 118/AC-3(2yClT(A)-lV/04-05, preferredagainst the Older of the Assistant Commissioner of Income Tax, Circle-3(2),Hyderabad dated 26-03-2004 in PAN/GlR No.AADCS4o55[M / S-174. Between: The Commissioner of lncome Tax-lll, l.T.Towers, A.C. Guards, Masab Tank,Hyderabad-Hyderabad- ...Appellant AND Sri Vishnu Cements,, 461,P.B No. 1535, Skeet No. 10, Suryanagar,Somajiguda, Hyderabad 500082. (since merged with Zuari Cements Ltd.,)(Present address) No.1 ., 10'nMain, Jeevanbhima Nagar, Bangalore 560 075. ...Respondent Counsel for the Appellant: Ms. Bokaro Sapna Reddy, SC FOR lTCounsel for the Respondent: Sri Venkata Rangadas Kanuri The Court delivered the following: JUDGMENT ,-.'.?.'ryc'r ./ I THE HoN'BL [EP.] [ KOSI-I][ I] AND FRI [ ][ ] D_IKI)ND4]INCOME TALNo.553 O [201.o] THE HON'BLE FRI [ ][ ] D_IKI)ND4] JUDGMENT: @er [Hon'b ][e ][Sn Justtce ][P.Sc.m Koslag)] Heard Ms.Bokzrro [Sapna ][Reddy' ][learned ][Standi'-rg ][Oounsel ][for]Income Tax, [appear-ng ][on ][behalf ][of ][the appellant'] 2. The instant [arpeal under ][Section ][260A of ][the ilrcorle Tar ][Act']1961, has [been ][pre[':rred ][by the ][Revenue ][as ][the appeiiinlt ][agzrinst ][the]order dated [09.01.i10O9 ][passeci ][by the ][Income Tax ][Appella'-e ][Tribunal']Hyderabad'4" [Bench, Hyderabarl, ][in ][l'T'A'No' ][1 ][22 ][| I ][|7'yd ] [1"004 ][for ][the]Assessment [Year ][2O'3 ][1 ][-02] 3. Central Roarcl [of ][Direct ][Taxes ][(CBDT) ][has ][issuer-l ][Cirruiar ][No'9 ][of]2024 dated' [77.Og.'.aJ24, ][amending the previous ][Cilc'-r.'ar ][l'1o"5 ][of ][2024]dated 15.03.2024, [l>y ][further enhalcing the ][monelar ][lin ][its ][[or ][filing]appeals by [the ][IrLcome ][Tax ][Department before ][tll': ][lncort-:c ]['la-x]Appeilate Tribunal';, [High Courts and ][Supreme ][CourL ][as ][a measure for]reducing litigation [ln ][paragraph ][2 of ][tine ][said ][Circulirr' ][we ][iind ][that]the monetary [limir ][flxed ][for ][filing ][arr ][appeal before ][tl ]"' [i- ][igh Court ][is]Rs.2.00 crore. r Page 2 of 3 4In the insl-ant appeal, tax effect is well below the monetarv limit. 5' Therefore, the appeal rrled by the Revenue is dismissed in termsof the aforesaid circular No.9 of 2024 dated. rz.og.2o24. However, ifthe appeal c.mes -,'ithin the exception of . Circular No.5 of 2024, itrvould be open to the Income Tax Department to seek revival of theappeal. No costs. 6, As a sequel, miscellaneous applications pending if aly, shallstand closed sd/- K. [s] JolT REGISTRARCNON ,,TRUE To 1. 2.a4.ffi EOne CC $tl[,ij'dl*ll;:iitr.gd*"u'*iff[to ][Sri ][Venkata ][Rangi]t)Two CD [Copies]a4.ffi EOne CC $tl[,ij'dl*ll;:iitr.gd*"u'*iff[to ][Sri ][Venkata ][Rangi]t)Two CD [Copies] kam HIGH COUR]' DATED:1 [110?.12025] JUDGMENTlTTA.No.553 [of ][2010] DISMISSING THE APPEA.L I1 [,.3]/s/21 S ['AI]1Ii€ oq5'Po2I [li;i ][2[25]l,=\,D