Sri Krishna Drugs Ltd., C-4, Lndustrialarea, Uppal, Hyderabad- [500 039 v. Krishna Koundinya

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD WEDNESDAY, THE SIXTEENTH DAY OF NOVEMBERTWO THOUSAND AND TWENTY TWO PRESENT THE HON'BLE THE CHIEF JUSTICE UJJAL BHUYANANDTHE HON'BLE SRI JUSTICE C.V. BHASKAR REDDY INCOME TAX TRIBUNAL APPEAL NO: 170 OF 2006 Appeal Under Section 260- A of the Income Tax Act, 1961against the order of the lncome Tax Appellate Tribunal, Hyderabad Bench ["A"]Hyderabad in ITA No. 542 lHyd l2OO2 daled 13-10-2005 for AssessmentYear 1998-99 preferred against the order of the Commissioner of lncomeTax (Appeals )-lV, Hyderabad inAppeal No.372 /JCSR -4lClT (A) lV/01-02 dated 13-03-2002 preferred against the order of the JointCommissioner of lncome Tax ( Assts ) Special Range -4, Hyderabad dated13-12-1999 in Pan / GIR No. S-125. Between: The Commissioner of lncome Tax-lll, Hyderabad. ...APPELLANT AND Sri Krishna Drugs Ltd., C-4, lndustrialArea, Uppal, Hyderabad- [500 039.] ...RESPONDENT Counsel for the Appellant: SRl. J V PRASAD [(Sr. ]SC FOR INCOME [TAX)]Counsel for the Respondent: SRI A.V.A. SIVA KARTIKEYA, representedfor SRI A. V. KRISHNA KOUNDINYA The Court delivered the following: Judgment THE HON'BLE THE CHIEF JUSTICE UJJAL BHIIYAN AND THE HON'BLE SRI JUSTICE C.V.BHASKAR REDDYI.T.T.A. No.17O of 20O6 JUDGMENT: (Per the Horr'ble the Chtef Justice Ujjal Bhugan) Heard Mr. J.V.Prasad, learned Standing Counsel, IncomeTax Department for the appellant and Mr. A.V.A.Siva Kartikeya,learned counsel representing Mr. A.V.Krishna Koundinya, learnedcounsel for the respondent. 2. This appeal has been preferred by the Revenue as theappellant under Section 260A of the Income Tax Act, 196 I (brieflyreferred to hereinafter as the Act), assailing the legality andvalidit-l' of the orcler dated 13.10.2005 passed by the Income Ta-rAppellate Tribunal, Hvderabad Bench A', Hyderabad (Tribunal) ir.rITA No.542lHydl'2OO2 for the assessment year 1998-99 3. Mr. J.V.Prasad, learned Standing Counsel fairly submitsthat ta-x eflect in :his appeal is below the monetary limit for filingappeal 4. Central Board of Direct Taxes (CBDT) has issued Circular No. l7 ol 2O19, dated 08.08.2019, amending the previous Circular No.3 of 2O 18, dated 11.O7 .2018, by further enhancing themonetary limits for filing appeals by the Income Tax Departmentbefore the Income Tax Appellate Tribunals, High Courts andSupreme Court as a measure for reducing litigation. In paragraph2 of ti:,e said circular we find that the monetary limit fixed for filingan appeal before the High Court is Rs.1.OO crore 5. Therefore, the appeal filed by the Department1Sdismissed in terms of the aforesaid Circular No.17 of 2019, dated08.O8.2O19. However, if the appeal comes within the exceptionunder paragraph 1O of Circular No.3 of 2018, it would be open tothe Income Tax Department to seek revival of the appeal. Nocosts. 6. Miscellaneous applications pending, il an.y, in thisappeal shall stand closed. Sd/. K. SRINIVAS JOINT REGISTRAR/t '-! u-'SECTION OFFICER /ffRUE COPY// To l. The lncome [Tax ][Appellate ][Tribunal, ][Hyderabad Bench ]["A" ][Hyderabad] 2. The Commissioner [of lncome ][Tax ][(Appeal) lV, ][Hyderabad] 3. The Joint [commissioner ][of ][lncome ][Tax ][( ][Assts ][) ][special ][Range ][-4,]HyderabadHyderabad 4.onecctoSRl.JVPRASAD(ST.SCFoRINCoMETAX)Advocate[oPUC] 5. One CC to SRl. A. [V. ] [Advocate ][ ] 6, Two CD Copies vH A)-- HIGH COURT HCJ & CVBR"I DATED: 1611112022 JUDGN{EN]'ITTA.No.170 of 2006 DISr\IISSI\C l'HL l'II A \\'I'l'tlOLIT COSTSI\\A--t7\[>)] /@;o//2 3 Ji\il ?!n