Itta/95/2017 Of Commissioner Of Income Tax-Ii, Hyd v. Gland Pharma Ltd, Hyderabad

HIGH COURT FOR THE STATE OFLANGANA AT HYOERABAD WEDNESDAY,THE NIN H DAY OF APRILTWO THOUSAND.ANTWENry FIVE PRESET THE HONOURABLE SRI JSTICE P.SAM KOSHYANDSING RAO NANDIKONDA THE HONOURABLE SRI JUSTICE INCOME TAX TRIBUNAL PEAL NO: 95 OF 20'17 lncome Tax Tribunal Appeal Under Sion 2604 of the lncome Tax Act,1961against the Order dated 28.02.2007 pas ed in ITA No.55/HYD/200'1 for theAssessment Year 1997-1998 on the file othe lncome Tax Appellate Tribunal,Hyderabad Bench'A', Hyderabad. Between: COMMISSIONER OF INCOME TAX-II HYD, Hyderabad ...APPELLANT AND GLAND PHARMA LTD, HYDERABAD, 6-862, Ameerpet, Hyderabad. ...RESPONDENT Counsel for the Appellant: Ms. J. SUNITHStanding Counsel FOR INCOMETAX DEPT. SMT. K MAMATA CHOUDARY,ENIOR Standing Counsel FORINCOME TAX DEPT. Counsel for the Respondent: SRI K VASNTKUMARThe Court made the following: JUDGMEN \ THE HON'BLESRIJUSTICE P.SAMANDTHE HON'BLESRI JUSTICENARSINGRAONANDIKONDAPEALNo.95OF20L7INCO[M] [TA)(][ TRI] JUDGMENT: 1p". [ao"'at' s" ][Justice ][I' ][som Koshu)]Flear: [lvl ][s.J ][' ][Sun.:lra, learned ][S,:iin:irrg Courisel ][for ][Income ][Tax,]appearing [on ][behalf ][of ][the ][appellant'] 2. The instant [appeal ][under ][Seclion ][260A ][of ][the ][Income ][Tax ][Act']1961, [has ][been ][preferred by ][the ][Revenue as ][the appellant ][against the]order dated [28'A2'2AO7 passecl ][by ][the ][lncome ][Tax ][Appellate ][Tribunal']Hyderabad ["A" ][Bench' ][Hyderabad' ][in ][l'T'A ][No'51;lHydl2OOl ][for ][the]Assessment [ear ][1,99'/ ][-98 ]['] 3. Central [Board ol Direct ][Taxes ][(CBDT) ][has ][issued ][Circular ][No'9 ][of]2024 [d'aLed, ][17 ]['ug ]['20'24 ]' [arnend'ing ][ttie ][previous ][C) ][rrcuiar ][No'S ][of ][2O24]dated [15.03'2 O24, ][by further ][enhancing tt:e ][mor:t:tary ][iirnits for ][hling]appeals [bl ][the ][Inccme ][Tax ][Dellartment befcre ][t'he ][Incorne ][Tax]Appellate [Tribrrnzls, ][i-Iigh ][Court-s ][anrl ][Suprtrne ][Corrt ][as ][a measure ][for]reducing [liiigntion' ][1r' pa-ragraph ][1l ][of ][the ][said' ][Circular' ][we ][hnd ][that]the monet_ary [li.it ][rrred for ][rrling ][an ][appeal ][befc.e ][the ][High ][court ][is] Rs.2.O0 [crore] PaCe 23 4. In the instant appeal, tax effectis well below the monetary limit. 5. Therefore, the appeal hled byRevenue is dismissed in termsof the aforesaid Circular No.9 of 2O4 dated 17 .O9 .2024. However, ifthe appeal comes ',r,ithin the excepon of Circular No.S of 2024, itwould be open to the Income Taxpartment to seek revival of theappeal. No costs 6. As a sequel, miscellaneous astand closed. lications pending if any, shall SD/- A.V.S.S.C.S.M. JINT REGISTRAR /ITRUE CPYII SECTION To, erabad Bench ['A', ][HYderabad] 'l . The lncome Tax Appellate Tribunal, [H] 2. One CC to [SMT. ] [MAMATAAdvoca]IoPUCI 3. One CC [to SRl. ] vocate 4. Two CD [CoPies] TPK/ghw :i.!!el!!-_::'q& a HIGH COURT DATED:0910412025 JUDGMENTITTA.No.95 ot 2A17 ITTA IS DISMISSED 6oef4k* /.-:a _ -=-:\.s i4 7.\s/c!.''i(('IliJ?22 [ilE]tot'Y..-,'ri+i\r.--r'-/,