Itta/554/2011 Of The Commissioner Of Income Tax-Iii v. M/S.srec Projects Private Limited

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD WEDNESDAY, THE THIRTIETH DAY OF APRILTWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYANDTHE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO: 554 OF 2011 lncome Tax Tribunal Appeal Under Section 260A of the lncome Tax Act,1961against the Order dated 27-08-2010 [passed ]in ITA No.979/Hyd/2009 for theAssessment Year 2005-2006 on the file of the lncome Tax Appellate Tribunal,Hyderabad Bench ['B', ]Hyderabad. Between: The Commissioner of lncome Tax-lll, lT Towers, AC Guards, Hyderabad ...Appellant AND lM/s SREC Projects Private Limited, Flat No.203, Niligiri, Aditya Enclave,Ameerpet, Hyderabad ...Respondent Counsel for the Appellant: Ms. B SAPNA REDDY, JUNIOR SC REPRESENTINGSRI J V PRASAD, SENIOR SC FOR INCOME TAX Counsel for the Respondent: _ _ _ _ The Court made the following: JUDGMENT * t\ THE HONOURABLE SRI JUSTICE P.SAIVI KOSHYANDTHE HONOURABLE SRI JUSTICE NARSING RAONANDTKONDA ITTA No.554 OF 201I JUDGMENT[(per ]lton'hle Sri Justicc P.Sam futsh1) Heard Ms. B.Sapna Reddy, leamed Junior StandingCounsel representing Mr. J.V.Prasad, learned Senior StandingCounsel for the [ncome ['l'ax ]Department fbr the appellant. Perusedthe record. 2. This appeal under Section 260,{ ol the lncome Tax Act,1961, has been preferred by the Revenuc as the appellantagainst the order dated 27 .08.201 0 passed bv thi: Income l-axAppellate Tribunal, Hyderabad Bench'B', Fhderabad,lnI.T.A.No.979,rHy d/2009 for the Assessment Year 20(t5 -10063. Central Board of Direct Taxes (CBD1') has issued CircularNo.9 of 2024 dated 17.09.2024, amending the previous CircularNo.5 of 2024 dated 15.03.2024,by further enhancinlr the uronetarylimits for filing appeals by the Income Tax Departrr ent before theIncome Tax Appellate Tribunals, High Courrs and Supreme Court \t l as a measure for reducing litigation. In [paragraph ]2 of [the ]saidCircular, we find that the monetary [timit ][fixed ][for ][filing ][an ][appeal]before the High Court is Rs.2.00 crore. 4. In the instant appeal, tax effect is well below the monetarylimit. 5. Therefore, the appeal lited by the Department is dismissed [in]terms of the aforesaid Circular No.9 of 2024 dated [11 ][.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 ofthe appeal. [-I'here ]shall [be ][no order ][as ][to ][costs] 6. Consequently, miscellaneous [petitions ][pending, ]if [any, ][shall]stand closed.stand closed. SD/- C.V.MALLIKARJUNA VARMAJOINT REGISTRAR (0-- //TRUE COPY// SECTION OFFICER To 1. The lncome Tax Appellate Tribunal, Hyderabad Bench [,8,, ]Hyderabad 2. One CC to Sri J V Prasad, Sr SC for lncome Tax, Advocate tOpUCl 3. Two CD Copies ABK HIGH COURTDATED: 3010412025./)41H€ [511].(../ ,,il10 sEP ;20trJUDGMENTt*O5ITTA.No.554 ot 2011 DISMISSING THE ITTA WITHOUT COSTSap(zo\