Itta/569/2012 Of Commissioner Of Income Tax (Tds) v. M/S. Vipanchi Chit Fund Ltd

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD TUESDAY, THE EIGHTEENTH DAY OF FEBRUARYTWO THOUSAND AND TWENry FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYANDTHE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO: 569 OF 2012 Appeal filed under Section 260(4) of the lncome-Tax Act., 1961, against theorder dated 11-08-2011 passed in lrA.No. B}4lHydt2o}g for the assessment year2005-2006 on the file of the lncome Tax Appellate Tribunal Hyderabad Bench 'B'Hyderabad preferred against the Order dated 28-02-2011 passed inlrA.No 0041/clr(A)-lll2009-10 on the file of the commissioner of lncome Tax(Appeals)-ll, Hyderabad preferred against the Order dated 26-12-2006 passed inPAN/GIR No.pvtuACV 8157 A on the fite of the Deputy commissioner of lncome Tax,Circle-3(3), Hyderabad. Between: Commissioner of lncome Tax (TDS), Hyderabad. ...APPELLANT/APPELLANT AND M/s- Vipanchi Chit Fund Ltd., Flat No.607, Babu Khan Estate, Basheerbagh,Hyderabad. ...RESPONDENT/RESPONDENT Counsel for the Appellant: Sri A, Ramakrishna Reddy, Standing Counsel for Income Tax Department Counsel for the Respondent: Sri Ganta RamakrishnaThe Court delivered the following JUDGMENT:The Court delivered the following JUDGMENT: TIIE TIONOURABLE [P'SAM ] AI\DTTIE HONOURABLE NANDIKONDA ITTA[No.569][ OF][ 2012] MENT[(per ][Hon'ble ][Sri ][Justice P ][Sam ][Koshy)] Heard Mr. [A. ][Ramakrishna ][Reddy' ][leamed ][Standing]counsel [for ][the ][Income ][Tax ][Department ][for ][the ][appellant' ][Perused]the record. This appeal appeal [[under Section 2604. ][of ][the lncome ][Tax Act']][[of ][the lncome ][Tax Act']][[the lncome ][Tax Act']][[Tax Act']] 2. This appeal appeal [[under Section 2604. ][of ][the lncome ][Tax Act']][[of ][the lncome ][Tax Act']][[the lncome ][Tax Act']][[Tax Act']]1961, has [been ][preferred ][by ][the ][Revenue ][as ][the ][appellant]against [the ][order dated ][11'08'2011 ][passed ][by ][the ][Income ][Tax]Appellate [Tribunal,, ][Hyderabad ][Bench ]['B" ][Hyderabad' ][in]I.T.A.No.804/FIYD [l20ll ][for ][the ][Assessment ][Year ][2005-06'] 3.CentralBoardofDirectTaxes(CBDT)hasissuedCircularNo.9of2024dated [.l.og.2o24,amendingthepreviousCircular]No'5of2024dated15.03.2024,byfurtherenhancingthemonetarylimits for [filing ][appeals ][by ][the Income ][Tax ][Department ][before ][the]Income Tax [Appellate ][Tribunals, ][High ][Courts ][and Supreme ][Court]as a measure [for ][reducing ][litigation' ][In ][paragraph ][2 ][of ][the ][said] II 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 monetaryIimit.Iimit. 5. Therefore, the appeal filed by the Department is dismissed interms of the aforesaid Circular No.9 of 2024 dated 17.09.2024.However, if the appeal comes within the exception of CircularNo.5 of 2024, it would be open to the Income Tax Department toseek revival ofthe appeal. There shall be no order as to costs. I 6. Consequently, miscellaneous petitions pending, if any, shallstand closed. Sd/. K. SRINIVRAOJOINTSTRAR //TRUE COPY// SECTION OFFICER To,1. One CC to Sri A. Ramakrishna Reddy, SC for lncome Tax DepartmenttoPUcl2. One CC to Sri Ganta Ramakrishna, [Advocate ] 3. Two CD CopiesVH/nsk(1. L HIGH COURT DATED: 1810212025 JUDGMENT!TTA.No.569 of 2012 DISMISSING ITTA/-v\2>[9] fF([o][e Ttl][ E ][Sra]3, 11 ,Fn ?wsIa(*.sPA?a1r1.