Itta/678/2006 Of The Commissioner Of Income Tax-Iii v. M/S. Vishal Infrastructure Limited

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD WEDNESDAY, THE NINTH DAY OF AUGUSTTWO THOUSAND AND TWENTY THREE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE A. LAXMI NARAYANAINCOME TAX TRIBUNALAPPEAL No: 678 OF 2006 lncome Tax Tribunal Appeal Under Section 2604 of the lncome Tax Act,1961 arising out of the order of the lncome Tax Appellate Tribunal, HyderabadBench ['A', ]Hyderabad in ITA No.324lHydl200', for Assessment year 2001-02 dated29-03-2006 prefened against the Order of the Commissioner of lncome Tax,(Appeals)-lV, Hyderabad, lTA.No.290/ACIT-3(4yCtT(A)-tV.O4-05,dated:07-O1-2OOS,preferred against the Order of the Assistant Commissioner of lncome Tax Circle-3(4), Hyderabad, PAN/clR No. / V-070 dared 30{1-2004. Between: The Commissioner of lncome Tax-lll,, Hyderabad ...APPELLANT AND M/s. Vishal lnfrastructure Limited, 1-2251A, Anugriha Apartments, RukminiColony, West Marredpally, Secunderabad. ...RESPONDENT Counsel for the Appellant: Mr. J.V. PRASAD, Learned Senior Standing Counselappearing for SRI B.NARASIMHA SHARMA, SC for tT Depr. Counsel for the Respondent: SRI V.SUBRAHMANYAM The Court delivered the following: JUDGMENT THE HON'BLE SRI JUSTICE P.SAM KOSITYAND THE TION'BLE SRI WSTICE A. LA)CIII NARAYANA I.T.T.A. No.678 of 20O6 JUDGMEIT:pe: t lol'b[( .sn.tustice [p.SAIrI ]KOs,Hr) Heard Mr J.V. Prasad, Iearned Senlor Standing Counsel appeanngfor the appellant-for the appellant- 2 This appeal under Section 260A of the lncome Tax Act, 196 I, hasbeer: preferrecl by the Revenue as the appeilant agairrst the orderdt.29.03.2()O6 passed by the Income Tax Appellate Triburral. l{yderabaclBt i-rch 'A', Hyderabad, in I.T.A.No.324 /Hyd,/2OO5 for the Assessmenr \car2Ot't 02 3. Central Board of Direct Taxes (CBDT) has issued Circular No.17 of20I9 dt.O8.O8 2tJl9, amending the previous Circrrla-r I,lo.3 of 20 lEdt.l I.07.20 18, b1' further enhancing the monetary limits for tiling al>pealsbv the [ncome Ta-x Department before the Income Tax Appcllate Tribuna]s,High Courts and Supreme Court as a measure for reducrng lrtigatron lnparagraph 2 of the said Circuler, v,'e fmd that the moletary hmit irxed forhling an appeal bcfore thc High Court is Rs.l.OO crore. 4. [n the rnsrant appeal. teu. cffect is well below the monctirrv hmit 5. Therefore, the appr:al filed b5, ths Deparrment is clisrnissccl in terms c[thc aforesaid (lrrcular Nrr.17 o[ 2019 dt.08.08.20I9. However, if the appeatr:omcs uithin tir.i r)x(:(_.Dtion urrder paragraph lO of Cirr:ular No.3 of 2Oig, ir woutd be [open ][to the ][lncome ][Tax ][Department ][to ][seek ][revival ][of ][the ][appcal'] No order [ac ][to costs'] Consequently, [miscellaneou ][s ][petitions ][pending, ][if ][any, shall ][stand] 6 closed. s d/- M' JvJi$IA33,t?[iE ,ITRUE N OFFICER SECT To, 1. The [lncome ][Tax ][Appellate Tribunal' Hyderabad Bench ]['A" ][Hyderabad'] 2. The [Commissioner of lncome ][Tax ][' ][(Appeals)-lV' Hyderabad'] 3. The [Assistant Commissioner of lncome Tax Circle-3(4)' Hyderabad'] 4. one [CC to ] [B'NARASIMHA SHARMA' ] [for ][lT Dept' [oPUc]] 5. One [CC to SRI ][V' ][SUBRAHMANYAM' ][Advocate ] ] 6. Two [CD CoPies] kam IIIII I HIGH COURT DATED:0910812023 JUDGMENT ITTA.No.678 ot 2006 ITTA IS DISMISSED @q*{"o29\c\o Ir\F- [T,1I]F o((:)vi,.o0'j [S'tP ][?SA]i). [t ].'/'7:.-/