The Commissioner of Income Tax-III, Hyderabad V. M/s. V.B.C. Ferro Alloys Limited

ITTA/424/2006

AI Insights

This case involves an appeal by the Commissioner of Income Tax-III, Hyderabad against M/s. V.B.C. Ferro Alloys Limited concerning an income tax assessment for the year 2000-2001. The appeal was directed against the order of the Income Tax Appellate Tribunal, Hyderabad, which had previously decided on the matter. The primary legal issue was whether the appeal met the necessary criteria, particularly the monetary threshold, for consideration by the High Court as stipulated by recent CBDT circulars aimed at reducing litigation. The court concluded that the appeal did not meet the monetary limit and did not qualify for any exceptions, leading to its dismissal.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 685879 (HC-TELANGANA)
• Appeal Type: Others
• Pronouncement Date: 02-08-2023
• Assessment Year: misc
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: CHALLA GUNARANJAN
• Assessee Lawyers: J V PRASAD
• Keywords: Appeal; Assessment year 2000-2001; Income Tax; Litigation reduction; Monetary limits
• Section: 260A

Judgement Text

"t 3386 I IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD WEDNESDAY, THE SECOND DAY OF AUGUST TWO THOUSAND AND TWENTY THREE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE A. LAXMI NARAYANA INCOME TAX TRIBUNAL APPEAL No:424 OF 2006 lncome Tax Tribunal Appeal Under Section 2604 of the lncome Tax Act, 1961 arising out of the order of the lncometax Appellate Tribunal, Hyderabad Bench ' B' Hyderabad, in ITA No.1226lHydl2004, for Assessment Year 2000-2001 dated:15-09-2005, preferred against the Order of the Commissioner of lncome Tax , (Appeals) lV, Hyderabad, Appeal No.9/AC-3(a)iClT(A)-lV/04-05,dated:7-10- 2004,preferred againsl the Order of the Assistanl Commissioner of lncome Tax Circle-3(4), Hyderabad PAN/GlR No.AAACV725BA / V-004 dated:05-03-2004. Between: The Commissioner of lncome Tax-lll, Hyderabad ...APPELLANT AND M/s. V.B.C. Ferro Alloys Limited, 6-2-913t914,3'd Floor, Progressive Towers, Khairatabad, Hyderabad. ...RESPONDENT Counsel for the Appellant: SRI J.V. PRASAD, SENIOR SC FOR INCOME TAX Counsel for the Respondent: SRI CHALLA GUNARANJAN The Court delivered the following: JUDGMENT T IIi HON'BLE SRI JUSTICE P.SAM KOSIN' AND THE toN'BLE SRI JUSTICE A. LAXIVII NARAYI .A I.T.T.A. No. 424 of 2O06 JUDGMENT; g.r,t . t bl,z Si,htstrc.r P. SA.[I I(OSIry/ Hear,l Sri r.Frasad, learncd Senior Stalding Col-r rs;el appearing for , I the:rppellalt. 2. This appe been prefe:rei Appellate 'li-itu.ta]. Hyderabad bird in LT.A.No.1226lHydl2OO4 f;r the.d.sse;smenL Ycar u-l :f Dircct 'lnxcs (CBDT) has issued ll .cu ar No.17 of J 9, amending tlre previous C:rcula: No.3 of 2018 l- rr her enhancing the rnonetary limits lirr fi ing appcals ( D€par'l-ment bcfore the lncome Tax Appt: a1: Tribunals, S:rpremc Court as a measure for red,,r:irrEj litigation. In 3 said Circular, wt: find that the rnonet,lr', Iirnit hxed for [ore the High Courr is Rs.1.OO cror,:. 1t appeal, tax efl'ect is well below the mor rer ary limit. rr appeal hled bi the Department s disr:ri.,sec in terms of rLar l,io.17 ot 2019 dt.08.08.2019. Hou'er,r:r, i' the appeal :xception undcr paragraph 10 of Circular I'lo.li of 20I8, it ..--. 2 would be open to the Income Tax Department to seek reviyal of the appeal No order as to costs 6 Consequently, miscellaneous petitions pending, if aly, shall stand To, closed Sd/.C.V.MALLIKARJ UNA V MA JOINT REGI TRAR //TRUE COPY// SECTION OFFICER 1 . The lncometax Appellate Tribunal, Hyderabad Bench ' B' Hyderabad. 2. The Commissioner of lncome Tax , (Appeals) lV, Hyderabad. 3. The Assistant Commissioner of lncome Tax Circle-3(4), Hyderabad. 4. One CC to SRI J.V. PRASAD, SENIOR SC FOR INCOME TAX [OPUC] 5. One CC to SRI CHALLA GUNARANJAN, Advocate IOPUC] 6. Two CD Copies kam HIGH COURI DATED:0210t t2.023 JUDGMENT ITTA.No.424 rfi 2006 THE APPEA - IS DISMISSE ) ..$ ==s I il l a, {r( };: 6 U .t ) ) "