The Commissioner of Income Tax-III, V. Visakha Industries Ltd.,

ITTA/669/2006

AI Insights

The case involves an appeal by the Commissioner of Income Tax-III, Hyderabad against Visakha Industries Ltd. concerning an order passed by the Income Tax Appellate Tribunal, Hyderabad. The appeal was related to the assessment year 2002-03. The primary legal issue was whether the appeal met the monetary threshold required for the High Court's consideration, as stipulated by recent circulars from the Central Board of Direct Taxes (CBDT). The court found that the monetary limit for filing appeals was not met, leading to the dismissal of the appeal.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 739615 (HC-TELANGANA)
• Appeal Type: Others
• Pronouncement Date: 09-08-2023
• Assessment Year: misc
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: C V NARASIMHAM
• Assessee Lawyers: J V PRASAD
• Keywords: Appeal; Assessment Year 2002-03; Dismissal; Income Tax; Monetary limit
• Section: 260A

Judgement Text

"[ 3386 ] IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD WEDNESDAY, THE NINTH 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: 669 of 2006 lncome Tax Tribunal Appeal Under Section 260A of the lncome Tax Act' 1961 arising out of the order of the lncome{ax Appellate Tribunal, Hyderabad Bench ' B' Hyderabad, in ITA No.33/Hydl20O4, for Assessment Year 2002-03 dated 28-02- 2006 preferred against the Order of the Commissioner of lncome Tax , (Appeals)-lV, Hyderabad in Appeal No. 180/AC-3(4yClT(A)-lV/2003-04dated:14-11-2OO3, preferred against the Order of the Assistant Commissioner of lncome-Tax Circle- 3(4), Hyderabad, PAN No. AADCS4O12Q, GIR No.V-02l2002-03 dated 14-08-2003. Between: . The Commissioner of lncome Tax-lll, Hyderabad. ...APPELLANT AND Visakha lndustries Ltd., 1-8-303/69/3, S.P.Road, Secunderabad. ...RESPONDENT Counsel for the Appellant: Mr. J.V. PRASAD, Learned Senior Standing Counsel Counsel for the Respondent: SRI C.V. NARASIMHAM The Court delivered the following: JUDGMENT THE HON'BLE SRI JUSTICE P.SAM KOSITY AND THE }ION'BLE SRI JUSTICE A. LAXMI NARAYANA I.T.T .A. No.669 of 2O06 JUDGMENT:pe) H tL t)tt s,,,rjsr,l p.sAM KOSHr) Heard lr{r. IV Prrr:;ircl, lcrrrr-red Senior Standing (.ounsel appearing I I for the appeilalrt 2. This appeal trnrl'r S.r.1rr,r 160,4 of the lncome Tax Acr, t96i_ has been preferred I, v thc iierrt-rrtrt' as the appellant agiLinsr the ordcr dt.28.O'2.2OO6 pas;scd by rhi' income Tax Appellate l.ribunal, Hyderabad Bench 'B', Hvder:t.lacl. r, LT.{. . 33lHydl2OOa for tho Assessment year 2002-03 3. Central B.t rcl o[ I)i.'r.r ]', rt s ICBDT) has issur.d Ci:c,la: No.17 of 20 l9 dt.08.08.2O 19. arnrcrrrlrrg the previous Circu lar No.3 of 2L) Ig dr. I 1.07.2018, bv iurthcr <:.1r..t.i,g the monetary limrts for filing appeats br thc- lncome Trr.r I)r,parrrnerrt ir,-.ii_,re tl,rc lncom., T.x Aplx:Uate Tribuna-ls. High Courts and iiuprcrnc CorLrt rrs a measure for reiiucrng litrgation. In pzrragraph 2 0f rl'rt said cir.rrlirr ric nnd that the monct:rrv timit rrxed for !-rling ar.r appcal bc[.rrc th(j Iliqlr r]oLrr-t rs Rs.1.OO crore. 4. ln the instirr r_ altpeal. tirx cll|c.f is v.,ell below tI.Lc rnonct€rrv limit 5' 'lher efore, rl-r: ap,r'irl rr.rr l^ rhc L)eparrment is drsmissed in terms.f tht: ;rfor.saicl r.li r< rr rrr N. I i ,i. l0 ic) dr.CS.,g.2Ol9. Hor,r:r.et_. if the appeal <:omcs $'ithin Lhc r':.t''-Pltorr Lrn(l'.r r)iir.lgriiph I0 of circ.rlirr No.3 of 201g. iL 2 would be open to the Income Tax Department to seek revival of the appeal' No order as to costs Consequently, miscellaneous petitions pending' if any' shal1 stand 6 closed kam g sd/'c. v. MALLTKARJUN^KtxA / (-l!) //TRUE coPY/' aEcTtoN OFF|CER To, 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' SC FOR lT DEPARTMENT IOPUC] 5. One CC to SRI C V NARASIIVIHAM' Advocate [OPUC] 6. Two CD CoPies HIGH COURT DATED: 0910812023 JUDGMENT ITTA.No.669 of 2006 ITTA IS DISMISSED s !i gt Stt .A SlATE OF ) ) ) .,i. . l-: I .,( cr o pl1 "