THE COMMISSIONER OF INCOME TAX-III, HYDERABAD. V. ML/S SRI KRISHNA DURGS LTD., HYD.

ITTA/181/2006

AI Insights

The case involves an appeal by the Commissioner of Income Tax-III, Hyderabad against M/s Sri Krishna Drugs Ltd., concerning an order passed by the Income Tax Appellate Tribunal, Hyderabad. The appeal was based on the legality and validity of the Tribunal's order dated 31.08.2005 for the assessment year 2007-08. However, the Department's appeal was dismissed due to the monetary limits set by the CBDT to reduce litigation. The court acknowledged the possibility of revival of the appeal if it falls under exceptions specified in the circular.

• Counselvise Citation: [2022] 140 COUNSELVISE.COM (IT) 699131 (HC-TELANGANA)
• Appeal Type: Others
• Pronouncement Date: 16-11-2022
• Assessment Year: misc
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: A V A KARTIKEYA
• Assessee Lawyers: J V PRASAD
• Keywords: Appeal; CBDT Circular; Income Tax; Monetary limit
• Section: 260A

Judgement Text

"o IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD WEDNESDAY.THE SIXTEENTH DAY OF NOVEMBER TWO THOUSAND AND TWENTY TWO PRESENT THE HON'BLE THE CHIEF JUSTICE UJJAL BHUYAN AND THE HON'BLE SRI JUSTICE C.V. BHASKAR REDDY INCOME TAX TRIBUNAL APPEAL NO: ,'81 OF 2006 Appeal Under Section 260Aof the lncome Tax Act, 1961 against the order dated 31-08-2005 in ITA No. 662 I Hydl 2004 on the file of the lncome Tax Appellate Tribunal, Hyderabad Bench-B, Hyderabad preferred against the order of the Commissioner of Income Tax ( Appeals ) lV Hyderabad dated 16-09-2004 in Appeal No. 285 / AC -3 (2) / CIT (A) -lV / 03-04 preferred against the order of the Assistant Commissioner of lncome Tax - 3 (2) , Hyderabad dated 31-12-2003 in PAN / GIR No. AADCS4056Q / S -118 Between: The Commissioner Of lncome Tax-lll, Hyderabad. ...APPELLANT AND M/s SRI KRISHNA DRUGS LTD., C-4, lndustrial Area, Uppal, Hyderabad -39. ...RESPONOENT Counsel for the Appellant: SRl. J. V. PRASAD Sr. SC FOR INCOME TAX Counsel forthe Respondent: SRI A.V.A. SIVA KARTIKEYA rep. Mr.. A.V. KRISHNA KOUNDINYA The Court made the following: JUDGMENT o I t THE HON'BLE THE C JUSTICE UJJAL BHUYAN AND THE HON'BLE SRI JUSTICE C.V.BHASKAR REDDY I.T.T.A. No.181 of2O06 JUDGMENT i (Per the Hon'ble the Chief Justice Ujjal Bhugan) Heard Mr. J.V.Prasad, learned Stalding Counsel, Income Tax Department for the appellant and Mr. A.V.A.Siva Kartikeya, learned counsel representing Mr. A.V.Krishna Koundinya, learned counsei for the respondent. 2. This appeal has been prelerred by the Revenue as the appellant under Section 26OA of the Income Tax Act, 196 1 (briefly referred to hereinafter as the Act'), assailing the legality and validity of the order dated 31.08.2005 passed by the Income Tax Appellate Tribuna-l, Hyderabad Bench 'B', Hyderabad (Tribunal) in I.T.A.No.662 /Hyd/2OOa for the assessment year 2OO7-O2. 3. Mr. J.V.Prasad, learned Standing Counsel fairly submits that tax effect in this appeal is below the monetary limit for filing appeal. 4. Central Board of Direct Taxes (CBDT) has issued Circular No.17 of 2019, dated 08.08.2019, amending the previous , / 2 HC] & CVBRJ ^ I.T.T.A.No.18l of 2006 Circular No.3 of 20 18, dated 1 1.07.201g, by further enhancing the monetary limits for filing appeals by the Income Tax Department before the Income Tax Appellate Tribunals, High Courts and Supreme Court as a measure for reducing litigation. In paragraph 2 of the said circular we find that the monetary limit frxed for filing arl appeal before the High Court is Rs. 1.00 crore. 5. Therefore, the appeal liled by the Department 1S dismissed in terms of the aforesaid Circular No.17 of 2019, dated 08.08.20 19. However, if the appeal comes within the exception under paragraph 10 of Circular No.3 of 20i8, it urould be open to the Income Tax Department to seek revival of the appeal. No costs. 6. Miscellaneous applications pending, if any, in this appeal shall stand closed /ffRUE COPY// *:\"atPH'#iETI SECTION OFFICER illir#itiqiH+sti'n'l*ruxtrlFN1i:'\"'\" S. On\" CC to Snf' A V KRISHNA KOUNDINYA Advocate [OPUCI 6. Two CD Copies A^- a o HIGH COURT DATED:16/1112022 JUDGMENT ITTA.No.181 of 2006 DISMISSING THE ITTA WITHOUT COSTS Mk 1HE ST4 o 12 APRMS ( b C. tvl t i >f o I I l "