Itta/669/2006 Of The Commissioner Of Income Tax-Iii v. Visakha Industries Ltd

IN THE HIGH COURT FOR AT HYDERABAD WEDNESDAY, THE NINTH TWO THOUSAND AND PRESENT THE HON'BLE SRI JUSTICE [P.SAM KOSHY] AND THE HON'BLE SRI JUSTICE A. LAXMI NARAYANA INCOME TAX TRIBUNAL APPEAL No: 669 of 2006 lncome Tax Tribunal Appeal Under [Section 260A ][of ][the ][lncome ][Tax ][Act']1961 arising out of the order of the [lncome{ax ][Appellate Tribunal, Hyderabad ][Bench]' B' Hyderabad, in ITA No.33/Hydl20O4, for Assessment Year 2002-03 dated 28-02-2006 preferred against the Order of the [Commissioner ][of ][lncome ][Tax ], [(Appeals)-lV,]Hyderabad in Appeal No. 180/AC-3(4yClT(A)-lV/2003-04dated:14-11-2OO3,preferred against the Order of the Assistant Commissioner of lncome-Tax Circle-3(4), Hyderabad, PAN No. AADCS4O12Q, [GIR No.V-02l2002-03 dated ][14-08-2003.] Between: . The Commissioner of lncome Tax-lll, Hyderabad. ...APPELLANT AND Visakha lndustries Ltd., [1-8-303/69/3, S.P.Road, Secunderabad.] ...RESPONDENT Counsel for the Appellant: [Mr. ][J.V. ][PRASAD, ][Learned Senior ][Standing ][Counsel] Counsel for the Respondent: [SRI C.V. NARASIMHAM]The Court delivered the following: THE HON'BLE SRI JUSTICE P.SAM KOSITY AND THE }ION'BLE SRI JUSTICE A. LAXMI NARAYANA I.T.T[.A. ][No.669 ]of 2O06 JUDGMENT:pe) H tL t)tt s,,,rjsr,l p.sAM KOSHr) Heard lr{r. IV Prrr:;ircl, lcrrrr-red Senior Standing (.ounsel appearingfor the appeilalrtfor the appeilalrt 2. This appeal trnrl'r S.r.1rr,r 160,4 of the lncome Tax Acr, t96i_ hasbeen preferred I, v thc iierrt-rrtrt' as the appellant agiLinsr the ordcrdt.28.O'2.2OO6 pas;scd by rhi' income Tax Appellate l.ribunal, HyderabadBench 'B', Hvder:t.lacl. r, LT.{.\. 33lHydl2OOa for tho Assessment year2002-03 3. Central B.t rcl o[ I)i.'r.r ]', rt s ICBDT) has issur.d Ci:c,la: No.17 of20 l9 dt.08.08.2O 19. arnrcrrrlrrg the previous Circu lar No.3 of 2L) Igdr. I 1.07.2018, bv iurthcr <:.1r..t.i,g the monetary limrts for filing appeatsbr thc- lncome Trr.r I)r,parrrnerrt ir,-.ii_,re tl,rc lncom., T.x Aplx:Uate Tribuna-ls.High Courts and iiuprcrnc CorLrt rrs a measure for reiiucrng litrgation. Inpzrragraph 2 0f rl'rt said cir.rrlirr ric nnd that the monct:rrv timit rrxed for!-rling ar.r appcal bc[.rrc th(j Iliqlr r]oLrr-t rs Rs.1.OO crore. 4. ln the instirr r_ altpeal. tirx cll|c.f is v.,ell below tI.Lc rnonct€rrv limit 5' 'lher efore, rl-r: ap,r'irl rr.rr l^ rhc L)eparrment is drsmissed in terms.ftht: ;rfor.saicl r.li r< rr rrr N. I i ,i. l0 ic) dr.CS.,g.2Ol9. Hor,r:r.et_. if the appeal<:omcs $'ithin Lhc r':.t''-Pltorr Lrn(l'.r r)iir.lgriiph I0 of circ.rlirr No.3 of 201g. iL would be open to the [Income ][Tax Department ][to ][seek ][revival ][of ][the ][appeal']No order as to costs 6Consequently, [miscellaneous ][petitions pending' ][if ][any' ][shal1 stand]closed sd/'c. [v. ][MALLTKARJUN^KtxA ]/ (-l!) //TRUE coPY/' aEcTtoN [OFF|CER] To, 1 . The [lncometax ][Appellate ][Tribunal' ][Hyderabad ][Bench ][' ][B' ][Hyderabad']2. The [Commissioner of lncome ][Tax ' (Appeals)-lV' ][Hyderabad']2. The [Commissioner of lncome ][Tax ' (Appeals)-lV' ][Hyderabad'] 3. The [Assistant Commissioner of lncome-Tax ][Circle-3(4)' ][Hyderabad'] 4. One [to ] [J'V ][PRASAD' SC FOR lT ] ] 5. One [to ] [NARASIIVIHAM' Advocate ] 6. Two [CoPies] kam g HIGH COURT DATED: 0910812023 JUDGMENT ITTA.No.669 of 2006 ITTA IS DISMISSED S[lATE][ OF]s!il-:)[Stt].Agt))I.,i..,(o\.pl1cr