Wta/1/2012 Of The Commissioner Of Income Tax-I, Hyderabad v. M/S Anies Vaibhav Agricultural Properties Private Limited

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD THURSDAY, THE THIRTEENTH DAY OF FEBRUARYTWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHYAND THE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA WEALTH TAX APPEAL NO: 1 OF 2012 Appeal under Section 27 (A) of the Wealth Tax Act, 196'l arising out of theOrder of the lncome Tax Appellate Tribunal, Hyderabad Bench ["8" ]Hyderabad madein W.T.A.No. 45lHydl2004 dated 13-10-2006 preferred against the Order of theCommissioner of lncome tax (Appeals)-ll Hyderabad in WTA No. 0211 &0210/ClT(A)-lll04-05 Dated 21-02-2004 preferred against the order of the DeputyCommissioner of Wealth Tax, Circle-1('1), Hyderabad made in No.A-246lDCIT-1 (1) t2004-0 5 dated 24-09 -2004. Between: The Commissioner of lncome Tax-|, Hyderabad ...APPELLANT AND M/s. Anies Vaibhav Agricultural Properties Private Limited,, H.No.2-2-57120, PanBazar, Secunderabad - 500 003. ...RESPONDENT Counsel for the Appellant: Ms. BOKARO SAPNA REDDY,S.C. FOR INCOME TAX DEPARTMENT ----Counsel for the Respondent: The Court delivered the following: JUDGMENT !\ THE. HON'BLE SRI JUSTICE P.SAM KOSHYAND THE HON'BLE SRI JUSTICE NARSING RAO NANDIKONDA WEALTH TA)( APPEAL No. 1 OF 2OL2 JUDGMENT ['. ]tx, L I )rL tJi, s,- .-/ushce r,..sarn (oshr// Heard Ms.Bokaro Sapna Reddy, learned Standing Counsel forIncome Tax, appearing on behalf of the appellantIncome Tax, appearing on behalf of the appellant 2. The instant appeal under 27(A) of the Wealth Tax Act, 1957, hasbeen preferred bv the Revenue as the appellant against the orderdated 13.10.2006 passed by rhe lncome Tax Appetlate Tribunal,Hyderabad "B" Bench, Hyderabad, in W.T.A.No.aSlHy<1l2OO4 for theAssessment Year I 998-99. 3. Central Board ol Direct Taxes (CBDT) has issued Circular No.9 ol2024 dated 17.O9.2024, amending the previous Circular No.5 of 2024dated 15.03.2024, bv further enhancing the monetar5r limits for filingappeals by the Income Tax Department before the Income TaxAppellate Tribunals, High Courts and Supreme Court as a measure forreducing litigation. [n paragraph 2 of tine said Circular, we find thatthe monetary limit fixed for filing an appeal before the High court isRs.2.00 crore. \I a^) 4In the instant appeal, tax effect is well belolr, the monetarv limit. 5. Therefore, the appeal filed by the Revenue is dismissed in termsof the aforesaid circular No.9 of 2024 dated rr.og.2o24. However, ifthe appeal comes within the exception of Circular No.S of 2024, itwould be open to the Income Tax Department to seek revival of theappeal. No costs. 6. As a sequel, miscellaneous applications pending if any, shallstand closed. Sd/. K. SRINIVASA RAOJOINT REGISTRAR ,TRUE COPY// ECTION OFFICER To,1. The lncome Tax Appellate Tribunal, Hyderabad Benrecords if any) "B", Hyderabad (withI{ 2. The Commissioner of lncome tax (Appeals)-ll, Hyderabad I3. The Deputy Commissioner of Wealth Tax, Circle-1(1), Hyderabad4. One One CC to IVls. Bokaro IVls. Bokaro Bokaro Sapna Reddy, S.C. for S.C. for for lncome Tax Department 4. One One CC to IVls. Bokaro IVls. Bokaro Bokaro Sapna Reddy, S.C. for S.C. for for lncome Tax DepartmentloPUCl w 5. Two CD Copies Plp/DL HIGH COURT DATED:1310212025 JUDGMENT WTA.No.1 of 2012 DISMISSING THE APPEALWITHOUT COSTS @3 lHE [Si ]14ti [2t ][nr,t ][yy15]i/Dr"... .. ,,. ,