PRINCIPLE COMMISSIONER INCOME TAX-2 V. JEEVAN SHAKTHI CHIT FUND PVT LTD.,

ITTA/56/2015

AI Insights

This case involves an appeal by the Principal Commissioner of Income Tax-2, Hyderabad against the order of the Income Tax Appellate Tribunal, Hyderabad. The appeal was related to the assessment year 2009-2010 and concerned the tax effect which was below the monetary threshold for filing appeals as specified in the recent circulars by the Central Board of Direct Taxes (CBDT). The court, referencing Circular No. 17 of 2019, dismissed the appeal due to the tax effect being below Rs. 1.00 crore, which is the monetary limit for filing appeals in such cases.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 720154 (HC-TELANGANA)
• Appeal Type: Others
• Pronouncement Date: 03-08-2023
• Assessment Year: misc
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: A V A SIVA KARTIKEYA
• Assessee Lawyers: J V PRASAD
• Keywords: Appeal Dismissal; Income Tax; Monetary limit; Tax effect; Tax effect
• Section: 260A

Judgement Text

"I I ; 3 : E i I i i I 5 I i i t ! t I I I I I I t I I I t I i I I I I I [ 33861 IN HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THURSDAY ,THE THIRD DAY OF AUGUST TWO THOUSAND AND TWENW THREE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHY AND THE HONOURABLE SRt JUSTICE LAXMI NARAYANA ALISHETW INCOME TAX TRIBUNAL APPEAL NO: 56 OF 2015 (lncome Tax Tribunal Appeal Under Section 260-A of the lncome Tax Act, against the order of the lncome Tax Appellate Tribunal, Hyderabad Bench ' B\" Hyderabad in ITA No. 97OtHydl2O14, for assessment Year 2009-2010 dated 25{9-2014 preferred against the order of the commissioner of lncome Tax - ll Hyderabad, in File No.23lClT-ll/263t21O3-14. dated 3043-2014, preferred against the order of the Assistant commissioner of lncome Tax Circle2(1), Hyderabad PAN/GIR No. - AAACJ5056C dated 09-1 1-201 1 .) Between: Principal Commissioner of slncome Tax.2, lT Towers, A.C.Guards, Hyderabad. ...APPELLANT/RESPONDENT AND [/Vs. Jeevan Shakthi Chit Fund Pvt Ltd.,,2O7,2nd Floor, Pancom Business Centre, Ameerpet, Hyderabad- 500073' ...RESPONDENT/RESPONDENT Counsel for the Appellant : SRI J.V. PRASAD Counsel for the Respondent: Sri A. V. A. SIVA KARTIKEYA The Court made the following: THE HON'BLE SRI JUSTICE P.SAM KOSIIY AND THE HON'BLE SRI JT'STICE A. LA)(}II NARAYANA I.T.T.A. No. 56 of 20l5 JIIDGMENT:6,e r |lotl'bte Sn,iustt(-e P.SAItl KOSHY) Heard Sri J.V.Prasad. leanred Senior Standing Counsel appearing for t}e appellant. 2. This appeal Lrnder Section 260A of the Income Tax A(:t, 1961, has been preferred by the rtcvenuc as the appelta_nr aqainst thc order dt.25,09.2014 passed by the lncomc Tax Appellare Tribuna], Hydcrabad Ilench 'B'. Hr,