The Pr. Commissioner of Income Tax-2 V. Sri Venkatesh Granites Pvt. Ltd.,

ITTA/173/2022

AI Insights

This case involves an appeal by the Income Tax Department against the order of the Income Tax Appellate Tribunal, Hyderabad, which was related to the assessment year 2014-2015. The appeal was dismissed based on the monetary limits set by the CBDT to reduce litigation. The Department's appeal did not meet the financial threshold required for further litigation as per the updated guidelines in the Circular No. 17 of 2019. The court's decision emphasizes the procedural adherence to the monetary limits for filing appeals, aiming to minimize unnecessary legal disputes.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 729294 (HC-TELANGANA)
• Appeal Type: Others
• Pronouncement Date: 06-03-2024
• Assessment Year: misc
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: P SOMASHEKAR REDDY
• Assessee Lawyers: SUNITHA
• Keywords: Appeal; CBDT Circular; Income Tax; Monetary limit
• Section: 260A

Judgement Text

"I s379 I IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD WEDNESDAY THE SIXTH DAY OF MARCH TWO THOUSANO AND TWENW FOUR PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHY AND THE HONOURABLE SRI JUSTICE N.TUKARAMJI INCOME TAX TRIBUNAL APPEAL NOi 173 0F 2022 lncome Tax Tribunal Appeal Under Section 260-A of the lncome Tax Act,1961 against the order of the lncome Tax Appellate Tribunal, Hyderabad Bench 'A', Hyderabad in lTA.Nos.1 250 lHydt2119, for assessment Year 2014'15 dated 25{8- 2O21, preferrd against the Order of the lncome Tax Circle-l(2), Hyderabad, ITA No.0303/2017-18/DCIT-Central Circte-i121, Hyd/clT(A)-1 1 Hvdl17'18, dated 19.03.2018 preferred against the Order of the Commissioner of lncome Tax' (Appeals)-1 1, PAN/GIR No. AANCS0546D, dated: 29.02.2016 Between: The Pr. Commissioner of lncome Tax-2, 6th Floor, Signature Towers, Kondapur, Opp Botanical Gardens, Hyderabad. ...APPELLANT AND Sri Venkatesh Granites Pvt. Ltd., H.No.4-2-74, Tower Market, Main Road, Karimnagar, AANCSO546D ...RESPONDENT Counsel for the Appellant : Ms. Sunitha leamed counsel representing Mr. A Radha Krishna(Senior SC For lT DEPT.,/Appellant) Counsel for the Respondent : Mr. P. Soma Shekar Reddy The Court made the following: THE HON'BLE SRI JUSTICE P.SAM KOSITY AND THE HON'BLE SRI JUSTICE N.TUKARAIVIJI I.T.T.A.No.173 of 2o22 JUDGMENT | (per Hon'ble Srt,tustir:e p.sArr r' "