The Commissioner of Income Tax-III V. M/s.Vani Chemicals AND Intermediates Ltd

ITTA/187/2006

AI Insights

This case involves an appeal by the Revenue against the order of the Income Tax Appellate Tribunal, Hyderabad, concerning the assessment year 2000-2001. The appeal was dismissed based on the monetary limits set by the CBDT to reduce litigation. The court acknowledged the updated circulars that specify the financial thresholds for filing appeals in tax matters, emphasizing the need to adhere to these limits unless exceptional circumstances justify otherwise.

• Counselvise Citation: [2022] 140 COUNSELVISE.COM (IT) 699230 (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 KOUNDINYA
• Assessee Lawyers: J V PRASAD
• Keywords: Appeal; CBDT Circular; Income Tax; Monetary limit
• Section: 260A

Judgement Text

"IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD PRESENT THE HON'BLE THE CHIEF JUSTICE UJJAL BHUYAN AND THE HON'BLE SRIJUSTICE C.V. BHASKAR REDDY INCOME TAX TRIBUNAL APPEAL NO: 187 OF 2006 Appeal Under Section 260 A of the lncome Tax Act '1961 aggrieved by the order dated 05-09-2005 in |.T.A.No. 1147 / Hyd/ 2004 ( Asst. Year 2000-2001 ) on the file of the Court of the lncome Tax Appellate Tribunal, Hyderabad Bench -A, Hyderabad preferred against the order dated 09-09-2004 of the Commissioner of lncome Tax ( Appeals )lV Hyderabad in Appeal No. 75/AC -3 (4) / CIT (A) -lV / 04-05 Hyderabad preferred against the order of the Asst. Commissioner of lncome Tax , Circle -3 (4) Hyderabad dated 01-03- 2004 in GIR No. AAACV8I55C/ V -199 Between: ...APPELLANT AND M/s.Vani Chemicals & lntermediates Limited, Hyderabad 'l-306 & 307, Divyashakti Complex, 7-1-58, Ameerpet, Hyderabad. ...RESPONDENT Counsel for the Appellant: SRl. J. V. PRASAD (Senior SC FOR INCOME TAX) Counsel for the Respondent: SRI A. V. KRISHNA KOUNDINYA The Court made the following: JUDGMENT WEDNESDAY HE SIXTEENTH DAY OF NOVEMBER TWO THOUSAND AND TWENTY TWO The Commissioner of lncome Tax-lll, Hyderabad THE HO]Y'IILE THE CHIEF JUSTICE UJJAL BHI'YAN AND THE HON'BLE SRI JUSTICE C.V.BHASKAR REDDY I.T.T.A.No.187 of 2O06 JUDGMENT: (Per the llofl'ble the Chicf Justice Ujjal Bhullan) Heard Mr. J.V.Prasad, learned Standing Counsel for Income Tax Department appearing for the appellant. 2. This appeal under Section 26OA of the Income Tax Act, 1961 (briefly, 'the Act' hereinafter), has been preferred by the Revenue as the appellant against the order dated 05.09.2005 passed by the lncome Tax Appellate Tribunal, Hyderabad Bench 'A', H-vderabad (Tribunal), 1n I.T.A.No. 1 147 I Hlrd l2OO4 for the assessment year 2OO0-O 1 . 3. Mr. J.V.Prasad, learned Standing counsel fairly submits that tax effect in this appeal is below the monetar5r limit for filing appeal 4. Central Board of Direct Ta-xes (CBDT) has issued Circular No.17 of 2019, dated 08.08.2019, amending the prev1ous Circular No.3 ol 2018, dated 11.O7.2018, by t 2 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 fixed for filing an appeal before the High Court is Rs.1.0O crore. 5. Therefore, the appeal filed by the Revenue is dismissed in terms of the aforesaid Circular No. 17 of 2O 19, dated 08.08.20 19. However, if the appeal comes within the exception under paragraph 1O of Circular No.3 of 2018, it would be open to the Income Tax Department to seek revival of the appeal. Miscellaneous applications pending, if any, shall stand ciosed. Hou,ever, there shall be no order as to costs. Sd/-B.S.CHIRANJEEVI JOINT REGISTRAR //TRUE COPY// ( rj) SECTION OFFICER To 1. The lncome Tax Appellate Tribunal, Hyderabad Bench -A, 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 SRl. J V PRASAD (Senior SC FOR INCOME TAX) [OPUC] 5. One CC to SRI A V KRISHNA KOUNDINYA, Advocate TOPUCI 6. Two CD CoPies . .- HIGH COURT DATED:1611112022 JUDGMENT ITTA.No.187 of 2006 DISMISSING THE ITTA WITHOUT COSTS &s- ,.) 2 3 lli',l ?fi: 1 .dE s iAr ( .:. ,:/ ',,1, l7lr r' "