Itta/9/2016 Of The Commissioner Of Income Tax I, Hyd v. M/S Vision 2K Inc., Hyd

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD MONDAY, THE TWENW FOURTH DAY OF MARCHTWO THOUSAND AND TWENry F|VE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHYANDTHE HON'BLE SRI JUSTICE NARSING RAO NANDIKONDA ITTA No: 9 of 2016 Appeal filed under section 2604 of the lncome Tax Act, 1961 against theorder dated 20-08-2014 in l.T.A. No.6481H12014 for A.Y.201 [0- ][1 ]1 on the file of thelncome-Tax Appellate Tribunal, Hyderabad Bench ['B' ]Hyderabad. Between: The Commissioner of lncome Tax l, Hyderabad. ...AppellanUAppellant AND M/s Vision 2K+ lNC., 6-2-9291A, Beside Zee Telugu Channel, Khairatabad,Hyderabad. ... RespondenURespondent Counsel for the Appellant: Ms. B. Sapna Reddy, Junior Standing Counselrepresenting Mr. J.V. Prasad (Senior SC FOR INCOME TAX) Counsel for the Respondent: Mr. A.V.A. Siva Kartikeya The Court delivered the following: JUDGMENT THE HONOURABLE SRIJUSTICE [P.SAM XOSHY]ANDTHE HONOURABLE SRIJUSTICE NANDIKOIYDA ITTA No.9 OF 2016 JUDGMENT[(per ][Hon'ble ][Sri ][Justice ][P.Sam ][Koshy)] Heard Ms. B.Sapna Reddy, [leamed ][Junior ][Standing]Counsel representing Mr. [J.V.Prasad, ][leamed ][Senior ][Standing]Counsel for the Income Tax [Department for ][the ][appellrnt. ][Perused]the record. 2. This appeal under Section 260,4. of [the ][Inco ][rre ][Tax ][Act,]1961, has been [preferred ]by the [Revenue ][as ][the ][appellant]against the order dated 20.08.2014 [passed ][by the ][Income ]['fax]Appellate -I ribunal, Hyderabad Bench 'B', H'rderabad, inl.T.A.No.648/Hydl2Ol4 for the Assessment [Year ][201()- ] [l.] l. Central Board of Direct Taxes [(CBDT) ][has ][issued ][Circular]No.9 of 2024 dated 17.09.2024, amending [the previous Circular]No.5 ol'2024 dated 15.03.2024, by [further enhancing ][the monetary]limits for filing appeats by the Income Tax Department [belore ][the]Income Tax Appetlate Tribunals, [High ][Courts and ][Strpreme ][Court] as a measure for reducing litigation. In paragraph 2 of the saidCircular, we find that the monetary limit fixed for filing an appealbefore the High Court is Rs.2.00 crore. 4. In the instant appeal, tax effect is well below the monetarylimit. 5. Therefore, the appeal filed by the Department is dismissed interms of the aforesaid Circular No.9 of 2024 dated 17.09.2024However, if the appeal comes within the exception of CircularNo.5 of 2024, it would be open to the lncome Tax Department toseek revival of the appeal. There shall be no order as to costs. 6. Consequently, miscellaneous petitions pending. if any, shallstand closed. Sd/. K. SRINIVASA RAOOINT REGISTRAR //TRUE COPY// ECTION OFFICER To, 1. The lncome-Tax Appellate Tribunal, Hyderabad Be ch'B'Hyderabad2. One CC to Mr. J.V. Prasad, Senior SC FOR INCOME TAXIOPUCI3. One CC to Mr. A.V.A. Siva Kartikeya, Advocate IOPUC]4 Two CD CopiesKanr/PS L HIGH COURTDATED:2410312025 JUDGMENTlTTA.No.9 of 2016 DISMISSING OFTHE APPEAL ,lbl 6lad I o"(/Jc(o[ 1 lut 2025CotSPATCHEo