COMMISSIONER OF INCOME TAX-III V. M/S.SHRILEKHA HIRE PURCHASE FINANCE LIMITED

ITTA/451/2012

AI Insights

The case involves an appeal by the Commissioner of Income Tax-III against M/s. Shrilekha Hire Purchase Finance Limited concerning an order passed by the Income Tax Appellate Tribunal, Hyderabad. The appeal was filed under Section 260A of the Income Tax Act, 1961, challenging the tribunal's decision for the assessment year 2001-2002. The primary legal issue was whether the appeal should proceed given the monetary limits set for litigation by the CBDT. The court, referencing the CBDT's Circular No.9 of 2024, found that the tax effect was below the prescribed limit, leading to the dismissal of the appeal.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 728324 (HC-TELANGANA)
• Appeal Type: Others
• Pronouncement Date: 17-02-2025
• Assessment Year: misc
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Others
• Court: HIGH COURT
• Assessee Lawyers: BOKARO SAPNA REDDY
• Keywords: Appeal; Dismissal; Income Tax; Monetary limit
• Section: 260A

Judgement Text

"13447 | IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD MONDAY, THE SEVENTEENTH DAY OF FEBRUARY TWO THOUSAND AND TWENTY FIVE PRESENT , THE HONOURABLE SRI JUSTICE P.SAM KOSHY AND THE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNA L APPEAL NO: 451 OF 2012 Appeal filed under Section 260(4) of the lncome Tax Act, 196.1, against the order dated 03-03-20'10 passed in lrA.No. 927lHydt2004 for the assessment year 2001-2002 on the flle of the lncome Tax Appellate Tribunal Hyderabad Bench ,B' Hyderabad preferred against the order dated 13-07 -2004 passed in Appeal. No. 37lAclr-3(1)/clr(A)-lv/04-05 on the file of the commissioner of lncome Tax (Appeals)lV, Hyderabad preferred against the order dated 15-03-2004 passed in PAN/GIR No.sH-82/ AAccsg03BD on the file of the Assistant commissioner of lncome Tax, 3('1), Hyderabad. Between: Commissioner of lncome Tax-lll, lT Towers, AC Guards, Hyderabad ...APPELLANT AND M/s. shrilekha Hire Purchase Finance Limited, 1o-3-s614t1, East Marredpally, Secunderabad. ...RESPONDENT Counsel for the Appellant: Ms. Bokaro Sapna Reddy, Standing Counsel for lncome Tax Counsel for the Respondent: The Court delivered the following JUDGMENT: THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAx TRIBUNAL APPEAL !to.451 OF 2012 JUDGMENT: (!Et Hon'bl' sn rustice P.s<,m Koshs) Heard Ms.Bokaro Sapna Reddy, learned Standing Ccunsel for Income Tax, appearing on behalf of the appellant. 2. The instant appeal under Section 260A or thc lncome Tax Act, 1961, has been preferred by the Revenue as i.ht appellat.rt aglainst the order dated 03.03.2010 passed by the Income Ta-x Appellzrte 'l'ribunal, Hyderabad \"B\" Bench, Hyderabad, in I.T.A.No.927 lllyd/2OCa for the Assessment Y ear 2OO | -2OO2. 3. Central Board of Direct Taxes (CBDT) has issueci Circr-tleLr No.9 of 2024 dated 17.O9.2024, amending the previorts Circtrlar No.i-r of 2O24 dated 15.03.2024.l>y further enhancing the monetaty litnits for frling appeals by the Income Tax Department l)r,ore the Income Tex Appellate Tribunals, High Courts and Supreme {)ourt a.s .r rneasure for reducing litigation. In paragraph 2 of the said Circular, u.e hrrd that the monetary limit fixed for fiiing an appeal bt'li;:-e the l-ligh Court is Rs.2.OO crore. I I Page 2 of 3 4. In the instant appeal, tax effect is weli below the monetary limit. 5. Therefore, the appeal fired by the Revenue is dismissed in terms of the aforesaid Cir<:ul:rr No.9 of 2024 d.ated, lZ.Og.2O24. However, if the appeal comes within the exception of Circular No.S of 2024, it would be open to the Income Tax Department to seek revival of the appeal. No costs. 6 As a scquel, nris<:ellaneous applications pending if any, shall stand closecl SD/-K.SRINIVASA RAO JOINT REGISTRAR //TRUE COPY// ECTION OFFICER 1. The lncome Tax Appellate Tribunal Hyderabad Bench 'B' Hyderabad 2. The Commissioner of lncome Tax (Appeals)lV, Hyderabad 3. The Assistant Commissioner of lncome Tax, 3(1), Hyderabad' 4. One CC to Ms. Bokaro Sapna Reddy' Standing Counsel for lncome Tax loPUCl 5. Two CD CoPies To, VH/PSb- f HIGH COURT DATED:1710212025 JUDGMENT lTTA.No.451 of 2012 DISMISSING ITTA o o o a B ItiE S14 It ? 1 Afi, ?J::5 ,-I ,I -:l * It-':- o "