Itta/82/2010 Of Commissioner Of Income Tax-Ii v. Itw Signode India Limited

IN THE HIGH COURT FOR THE]STATE AT HYDERABAD MONDAY, THE FOURTEENTH DAY OF JULYTWO THOUSAND ANq TWENTY FIVE pneseNr THE HON'BLE SRI JUSTICE P.SAM ANDTHE HoN'BLE sRt JUSTIcE ltadstNc [RAo ][NANDIKoNDA] EAL NO: 82 OF 2010 INCOME TAX TRIBUNAL AP Appeal under section 260-4 of [the ][lncome Tax ][Act, ][against ][the ][order]dated 23-03-2007 in l T.A. No.566lHydl2002 [for ][the assessment year 1997-98 ][on]the file of the lncome Tax Appellate [Tribunal ]['A' ][Bench. ][Hyderabad] Between:Commissioner of Income Tax-ll, Hyderaba+ +...AppellantITW Signode lndia Limited, [Formerly [Signode ][lndia ][Ltd] ][Oio.3'd ][Floor,]Merchant Towers, Banjara Hills, HVderaba$....Respondent AND Counsel for the Appellant: Ms. J. Sunitha [(qR ] [TAX)] Counsel for the. Respondent: [Mr. ][Tarun Chadha, appearing ][on ][behalf ][qf]Mr. Karthik Rqmana PuttamreddY The Court delivered the following: JUDGMENT \\ THE TION'BLE SRI JUSTICE P.SAM KOSH\' AND THE HON'BLE SITI JUSTIC]E NARSING RAO NANDIKONDA INCOME, TAX TRIBIINAL APPEAL No.tl2 ol'2010 .II.-IDGMENT:tper rh, llt)n hle 9t Jrsticc ]'.Sdnt Loshy) IJeald Ms. J.Sunitha, lear-ned Senior Standing Cotrnscl fbr Incorne T'arDcpaftrne nt appearing on behalf of the appellant, ancl 1,1r. ['l'arun ]Chadha,lcarned counsel, appcaling on behalf of Mr. Karthik l{rrnrana l)utlauledcly.lcarned corrrtscl lirr tlrc rcspoudent. 2, Thc instant appeal under Section 2604. of the Incorrrc I'ax,,\ct, 1961, lrasbeen pref'erred by the Revenue as the appellant against the ordcl dated23.03.2.007, passed bv the Income Tax Appellate Tribunal. I11 clcrlbad Bcnch'A'. Ilvderabad, in l.l.A.No.566lH5,<J12002 tbr the Assessnrcnt lclr 1997-98 3. Central Board of Direct Taxes (CBDT) has issued [('ircuiar ]No.9 o12024datcd 17.09.2024. amending the previous Circular No.5 of 2024 dated15.03.2024, by furtlrcr enhancing the rnonetary limits lbr liling appeals b1, thcIncor-ne 1-ax Depaltrnent belore the Income Tax Appcllate 1r'ibunals, HighClourls and Suprerne Court as a [reasure for reducing litigation. In paragraph 2 I t 2 qfz of the said Circular, we find that the mo etary ftlimit llxed for filing an appeal befole the High Court is Rs.2 crore. 4. In the instant appeal, tax effect is wdll below the monetary limit. 5. Therefore, the appeal filed by theevenue is dismissed in tenns of theaforesaid Circular No.9 of 2024, dated 17.09.2024. However, if the appealcomes within the exception of Circularo.5 of 2024, it u,ould be open to theRcvcnue to scck revir,'al of the appeal 6. As a sequel, rniscellaneous petitio s pending if any', shall stand closed.However, there shall be no order as to cos Sd/- A. PRATHIMAEPUTY REGISTRAR //TRUE COI SECTION OFFICER To, 1The Income Tax Appellate Tribunal 'Bench. Hy erabad2.One CC to Ms. J. Sunitha (SR SC FOTNCOME rAX) 3One CC to Mr. Karthik Ramana Puttam eddy Advocate 4.Two CD CopiesKan:/gh,iw I HIGH COURT DATED:1410712025 JUDGMENTlTTA.No.82 ot 2010 DISMISSING OFTHE APPEAL Lr3\ 4urj[tlE Sf4]t,(21 rlJc [zffi]Iil,),:5'r.n r- I