Itta/82/2017 Of Commissioner Of Income Tax-Iii v. M/S Yalamanchali Finance And Trading Private Ltd

IN THE HIGH AT HYDERABAD MONDAY, THE SEVENTH TWO THOUSAND [TWENry ] PRESENT THE HON'BLE SRI [JUSTICE P.SAM KOSHY]ANDTHE HON'BLE INCOME TAX T [ | ][82 ][0F ][2017] under section [260A ][of the ][lncome Tax ][Act' ][1961 against ][the ][order]Appeal dated27.07-20,12in1TANo.1310/Hyd/2010inAssessmentyears2007-2008onthe file of the lncome [Tax Appellate Tribunal, Hyderabad Bench ]['B' ][Hyderabad] Between: Commissioner [of lncome ][Tax-lll, ][l.T.Towers, ][A'C ][Guards, ][Hyderabad ]...APPellant- ..ANDM/s Yalamanchali [Finance and Trading Private ][Limited ][, ][8_2-2681218115, ][Road ][No.]2, Baniara Hills, [Hyderabad-500 ][034' ]...Respondent Counsel for the [Appellant: ][Ms. ][B. ][Sapna Reddy, ] [lT DEPARTMENT]Counsel for the [Respondent: ][M/s. MN ][Advocates]The Court delivered [the ][following: ] THE HON'BLE SRI JUSTICE P.SAM KOSHYAND THE HON'BLE SRI JUSTICE NARSING RAO NANDTKONDA INCOME TAX TRIBUNAL APPEAL No.82 0F 2017 JUDGMENT: (per Hotl'bie Sn Justice p.S'.m Kosh!) Heard Ms.B.Sapna Reddy, learned Standing Counsel for Income Tax, appearing on behalf of the appellant, t t 2. The instant appear instant appear appear under Section 260A of the Income Tax Act,Section 260A of the Income Tax Act,260A of the Income Tax Act,of the Income Tax Act,the Income Tax Act,Income Tax Act,Tax Act,Act,1961, has been preferred by the Revenue as the appellant against theorder dated 27 'o7.2012 passed by the Income Tax Appellate Tribunal,Hyderabad "Et" Bench, Hyderabad, in I.T.A.No.13lO/Hyd/2O1O for theAssessment Year 2007-Og. The instant appear instant appear appear under Section 260A of the Income Tax Act,Section 260A of the Income Tax Act,260A of the Income Tax Act,of the Income Tax Act,the Income Tax Act,Income Tax Act,Tax Act,Act, 3' central Board of Direct Taxes (.BDT) has issued circurar rvo.o or I2024 dated 12.O9.2024, amending the previous Circular No.5 of 2O24dated 15'03'202a, by further enhancing the monetar5r limits for filingappeals by the Income Tax Department before the Income TaxAppellate Tribunars, High courts and Supreme court as a measure forreducing litigation. In paragraph 2 of the said circular, we find thatthe monetary timit fixed for filing an appeal before the High Court is1 [Rs.2.OO ][crore.] I In the instant [appeal, ][tax ][effect ][is well ][below ][the ][moneta5r ][limit'] 4 5. Therefore, the [appeal ][hled ][by the ][Revenue ][is ][dismissed ][in ][terms]of the aforesaid [Circular ][No'9 ][of ][2024 ][dated ][17'Og'2O24' ][However' ][if]the appeal [comes ][within ][the ][exception ][of Circular ][No ][' ][5 ][of ][2024 ]' [it]would be [open ][to the ][Income ][Tax Department ][to ][seek ][revival ][of ][the]appeal. [No ][costs.] 6As a sequel, [miscellaneous ][applications ][pending ][if ][arty'][ shall] Istand closed SD/. R. JOINT SECTION //TRUE 'B'HYderabad'Toench1.The lnco[me ][Tax ][APPellate][ Tribunal, ][HYderab][ a]EARTMENT B. SaPna [R][eddY, ][SC FOR lT ][D]2.One CC [to ][Ms']MN Advoca[tes ]J.One [to M/s']4.Two CD [CoPies]Kam/gh l* HIGH COURT DATED:0710412025 JUDGMENTITTA.No.82 of 2017 DISMISSING THE APPEAL b ::\('(-i'.).c21tlJEM.\a),,,t):5lp^TCvrr-9.