The Commissioner of Income Tax - IV vs. Nagarjuna Aqua Exports Ltd.

134471 IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD TUESDAY, THE EIGHTEENTH DAY OF FEBRUARY TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHY AND THE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO: 269 OF 2012 Appeal filed under Section 260(A) of the lncome-Tax Act, against the order dated. 27 -06-2008 passed in lTA.No.991/Hydl2OOG for Assessment Year 2003-2004 on the file of the lncome Tax Appellate Tribunal Hyderabad Bench 'B', Hyderabad preferred against the Order dated. 21-08-2006 passed in ITA No.3-19 lo 322lAClT- 16(1)/CIT(A)-V/2005-06 on the file of the Commissioner of lncome Tax (Appeals)-V, Hyderabad preferred against the Order dated: 22-02-2004 passed in PAN/GIR No. A/vqCN7326D on the file of the Assistant Commissioner of lncome Tax, Circle-16(1), Hyderabad. Between: The Commissioner of lncome Tax - lV, Hyderabad. ...APPELLANT AND Nagarjuna Aqua Exports Ltd., 6, Nagarjuna Hills, Punjagutta, Hyderabad - 82. .,.RESPONDENT Counsel for the Appellant: Ms. B. SAPNA REDDY, JUNIOR S.C. REP. FOR SRI J.V. PRASAD, SENIOR S.C. INCOME TAX DEPT. Counsel forthe Respondent: SRI A. V. RAGHU RAM The Court delivered the following: JUDGMENT ' I i t

-Z THE HONOURABLE SRI JUSTICE P.SAM KOSIIY AND THE HONOT]RABLE SRI JUSTICE NARSING R,'\O NANDIKONDA ITTANo. 269 oF 2012 JUDGMENT (per Hnn'ble Sri Justice P.Sam Koshy) Heard Ms. B.Sapna Reddy, leamed Junior Standing Counsel representing Mr. J.V.Prasad, learned Senior S:anding Counsel for the Income Tax Department for the appellant' 'l)erused the record. 2. This appeal under Section 260.4 of the Income '[ax Act' lg6l,hast,eenpreferredbytheRevenueastherrppellant against the rrlder dated 27.06-2008 passed by the lnc'rme Tax Appellate l'ribunal, Hyderabad Bench 'B', Hyder:rbad' in I.T.A.No.99lltryD/2006 for the Assessment Year 2003-0'+' 3. Central Board of Direct Taxes (CBDT) has issued Circular No.9 of 2024 dated 17.09.2024, amending the previou:' Circular No.5 of 2024 dated 15.03'2024, by further enhancing the monetary limits for filing appeals by the Income Tax Department before the Income 'fax r\ppe1late Tribunals, High Courts and Supre'me Court I , I I r

2 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.2.00 crore. 4. In the instant appeal, tax effect is well below the monetary limit. 5. Therefore, the appeal filed by the Department is dismissed in terms of the aforesaid Circular No.9 of 2024 dated 17.09.2024. T{owever, if the appeal comes within the exception of Circular No.5 of 2024, it would be open to the Income Tax Department to seek revival ofthe appeal. There shall be no order as to costs. 6. Consequently, miscellaneous petitions pending, if any, shall stand closed. To, 1 2 4 5 Ct SD/.K.SRINIVASA RAO JOINT REGISTRAR //TRUE COPY// s CTION OFFICER The lncome Tax Appellate Tribunal Hyderabad Bench 'B', Hyderabad The Commissioner of lncome Tax (Appeals)-V, Hyderabad The Assistant Commissioner of lncome Tax, Circle-16(1), Hyderabad. One CC to Sri J.V. Prasad, S.C. for lncome Tax [OPUC] One CC to Sri A. V. Raghu Ram, Advocate [OPUC] Two CD Copies Plp/PSL

HIGH COURT DATED:1810212025 JUDGMENT ITTA.No.269 ot 2012 DISMISSING THE APPEAL R o .HE S flr.i )aTC I 14 nzs ( 1 Os- a (r i(- t o t 1 ql?r{ \ \