Itta/605/2006 Of The Commissioner Of Income Tax Iii v. M/S. Victory Projects Limited

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD WEDNESDAY, THE SECOND DAY OF AUGUSTTWO THOUSAND AND TWENTY THREE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE A. LAXMI NARAYANA INCOME TAX TRIBUNAL APPEAL No: 605 OF 2006 lncome Tax Tribunal Appeal Under Section 2604 of the lncome Tax Act, 1961arising out of the order of the lncome-tax Appellate Tribunal, Hyderabad Bench ['A ][']Hyderabad, in ITA No.284lHydl2O01 , for assessment Year 1996-97 datd 21-12-2005 preferred against the Order of the Commissioner of lncome Tax , AndhraPradesh-1, Hyderabad, Appeal No. H.Qrs.l/50(22)/2000-200'l,dated:20-03-2001,preferred against the Order of the Deputy Commissioner of lncome Tax Circle-4(6),Hyderabad PAN/GIR No.V-12'1l 96-97 dated. 26-03-1999. Between: The Commissioner of lncome Tax lll,, Hyderabad ...Appellant AND M/s. Victory Projects Limited, 6-3-626, 6th floor, Parameshwar Apartments,Anandhnagar, Hyderabad. ...Respondent Counsel for the Appellant: SRI J.V. PRASAD forSRI B. NARASIMHA SHARMA Counsel for the Respondent: [P. ] The Court delivered the following: HE HON'BLE SRI JUSTICE P.SAI\[ KOSH'T AND THI HON'BLE SRI JUSTICE A. LAXM) NAR,IT'ANA I.T.T.A. No. 6O5 of 2O06 JUDGMENT:6,et lot'ble Si JrLsttce P.SAM KOS,HY) Hear-d Sri l.V. Prasad, learned Senior Standirrg Cr,r n ;el rppezrring forthe appcllanrthe appcllanr 2. Thrs appr rl under Section 26OA o[ the Income It:: Act, 196 I. hasbcen prefr.rred b'r the Rt:venuc as the appcllant z f1, iltst thc ordcrdt.21.12.2t)05 p s;ed by tLLe Incorne Tax Appcllate Tri:r nal, IJl,ilerabadBcrrch A', H1'rle rbacl, in 1.l'.A.No 2SalHydl2OOt fcr rlr.e .\ssessmenr Year1996 97 . 3. Ccntral Bald of Direct Taxe s (CBDT) has ir;suerl (. rcu lar No. 1 7 of20 19 clt.08.08.-1.9, amending the previous Circular. No.3 of 2018dr. t 1.07.20 1U. Iurthcr enharcing lhe monetarv [imits Ior I iir-rg altpealsby t he Incornr: Tx D(lpartmont before the Incomc l'ax rr.; pr'llarc Trrbunals,High Courts anrSupreme Court as a measure [o' rt:<lu<.r-rg titigzrtion. lnpamgraph :2 o[ te said Circular, we tlnd that thc.nonotar'! limit fixed torfiling an aplteal L'fr,re the High Court is Rs- 1.OO crore, 4In th,r inst r-,, appezLl, ta-x effcct is w,ell belorr,, tlre rnc rr LzLn. limit5. Thcl:fore, h,: appeal filed by t.he Department rs rti:;rnr;serl in tcrms ofthc aforesard Clir ular No.17 of 2019 dt.08.08.20 19. Hov,,< r r, rf the appealcomes u.ithrn r1(' l\ ception under peLragraph I0 oi ( ircu.er \o_,1 of 20 18, it5. Thcl:fore, h,: appeal filed by t.he Department rs rti:;rnr;serl in tcrms ofthc aforesard Clir ular No.17 of 2019 dt.08.08.20 19. Hov,,< r r, rf the appealcomes u.ithrn r1(' l\ ception under peLragraph I0 oi ( ircu.er \o_,1 of 20 18, it would be open to the Income Tax Depa_r:tment to seek revival of the appealNo order as to costs. 6. Consequently, miscellaneous petitions pending, if any, shall standclosed. Sd/-B.S.CHIRANJEEVIJOINT REGISTRAR%secrroN [oFFICER] /ffRUE COPY// to'r. ' A' HyderabadTribunal' Hyderabad Bench ,n" lncome{ax Appellate 2. The Commi..ion"' [oi'i-ntote ][tax' ][nnonrapradesh-l' ][Hyderabad]3. The [Deputy ][Commistion"i ][of ][ln"o*" ][Tax Circle-4(6)' Hyderabad]4. One CC [to ] [e' ][NIARASh'!Hn ][SHARMA' ][Advocate IOPUCI]cc [i. ][snr ][p. ][uruner-r ][KRISHNA' ][AqYo:9le ][toPUCl];. o;; ;. il; [Cc ][io ][snr ][J'V' PRASAD' ][Advocate ][[oPUC]]7. Two CD [CoPies]kam6 HIGH COUR'' DATED:0210i 12023 JUDGMENT ITTA.No.605 rf 2006 THE APPEALIS DISMISSEI [I]b0aA${0,aT\ rlilci\{:r)I