Itta/91/2014 Of The Commissionero F Income Tax-Iv v. M/S Legend Estates Pvt, Ltd

t3447 | IN THE HIGH COURT FOR THEi AT HYDER,ABAD MONDAY, THE NINTIH DAY OF JUNETWO THOUSAND ANP TWENry FIVE PRESENT THE HONOURABLE SRI .IJSTICE P.SAM KOSHYAND THE HONOURABLE SRTJUSTTCE RAO NANDTKONDAfensrr'rC INCOME TAX TRIBUNAL ACPEAL NO: 91 OF 2014 lncome Tax Tribunal Appeal Under Se;ction [2604 ][of ][the ][lncome ][Tax ][Act,1961]against the Order dated 20-12-2012 pass,pd in ITA No.1265/HYD/2012 for theAssessment Year 2006-07 on the file ofthe lncome Tax Appellate Tribunal,Hyderabad Bench'A', Hyderabad. Between : The Commissioner Of lncome Tax-lV, Hyderabad ...Appellant AND M/S Legend Estates PW,LTD., DN66-3-1238, Renuka Enclave, LegendApartments, 6th Floor, OppLancetoNecklace Road, Raj Bhavan Road,Somajiguda, Hyderabad. ...Respondent Counsel for the Appel!ant(s): Mr.K.Suar Reddy+ Counsel for the Respondents: Mr. K.Va antkumar1 The Court made the following: JUDGMENT THE HON'BLE [ E][ P.SAM KOSHY] ANDTHE HON'BLE [N] [o][ NANDIKONDA] INCOME TA:([TRIBUNAL APPEAL No][.91 ][0F ][2014] JUDGMENT: t)et [Hon'bte ][si ][Juslice ][P'so.m ][Kosha)] Heard Mr.K.Sudhar [Reddy, ][learned Standing ][Counsel ][for ][Income]Tax, appearing [on ][behalf ][of ][the ][appellant] 2. The instant [appeal ][under ][Section ][260A of ][the ][Income Tax ][Act']1961, has been [preferred ][by the ][Revenue ][as the appellant against the]order dated [20.12.2012 passed ][by ][the ][Income Tax ][Appeilate ][Tribunal']"A" [Bench, ][Hyderabad, ][in ][t'T'A'No' ][126-clH5'dl2C12 for ][the]Hyderabad Assessment [Year 2006-7 ][.] 3. Central Board. [of ][Direct ][Taxes ][(CBDT) ][has ][issued ][Circular ][No'9 ][of]2024 d.ated [17.Og.2024, ][amending ][the ][previous ][Circular ][No ][5 ][of ][2024]dated l5.O3.2024, [by further ][enhancing ][the ][monetarS" ][limits ][for ][filing]the [Income ][Tax ][Department before ][the ][Income ][Tax]appeals by Appellate Tribunals,.High [Courts ][and ][Supreme ][Court ][as a ][measure ][for]reducing litigation. [In ][paragraph ][2 ][of ][the ][saicl ][Circular' ][we ][find ][that]the monetar5r limit [fixed ][for ][frling ][an ][appeal ][before ][the ][High ][Court ][is]Rs.2.OO crore. 4. In the instant appeal, tax eis well below the monetary limit n 5. Therefore, the appeal hled bye Revenue is dismissed in termsof the a-foresaid Circular No.9 of 2O 4 dated 17.09.2024. However, ifPthe appeal comes within the excep on of Circular No.S of 2024, itwould be open to the lncome Taxepartment to seek revival of theappeal. No costs 6. As a sequel, rnis-cr:llaneous a plications perrding if any, shallIstand closed ISD/- A.V.S.S.C.S.M,SARMAJOINT REGISTRAR//TRUE CdPYII SECTION OFFICER To, 'l . The lncome Tax Appellate Tribunal. H]yderabad Bench'A', HYderabad2. One CC to [Mr.K.Sudhar ][ReddY, ][Advo]cate 2. One CC to [Mr.K.Sudhar ][ReddY, ][Advo]cate 3. One CC to Sri [K.Vasantkumar, ndvoc]] Ete IOPUC] 4. Two CD CoPies SVSh- HIGH COURT DATED:0910612025 JUDGMENTlTTA.No.91 of 2014 DISMISSING THE ITTAWITH OUT COSTSS G,rt("bX@ ) :'' :=a\l' ,,'j- . [(''].,. ". "i,i{.[:\], \\.i;>!.a \/,'-:.',:. "t22 lllE 2116 i i