Commissioner of Wealth Tax VI vs. Nb Afzal Ali Khan

[3447 | IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THURSDAY, THE THIRTEENTH DAY OF FEBRUARY TWO THOUSAND AND TWENTY FIVE PRESENT THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE NARSING RAO NANDIKONDA WEALTH TAX APPEAL No: 7 of 2007 Appeal under Section 27 (A) o't the Wealth Tax Act ,1957 arising out of the Order of the lncome Tax Appellate Tribunal, Hyderabad Bench '4" Hyderabad made in W.T.A No 48/Hyd/'1998 dated 28-02-2003 prefened against the Order of the Deputy Commissioner of lncome tax, (Appeals), Hyderabad in Appeal No. WT/ACIT-1(3)/36195-96 dated 29-12-1997 preferred against the order of the Assistant Commissioner of Wealth Tax, Circle 1 (3), Hyderabad made in pAN/GlR No. 4-750 dated 30-03-1995. Between: Commissioner of Wealth tax Vl, Hyderabad ...Appella nt AND Nb Afzal Ali Khan,Sio Julfikhan Jah C/o Trustees of HEH the Nizams, Jewellery Trust, 22-3-660, Purani Haweli, Hyderabad ...Respondent Counsel for the Appellant: Ms. Bokaro Sapna Reddy, Standing Counsel for lncome Tax Counsel for the Respondent: None Appeared The Court delivered the following: JUDGMENT

. ii*.r:{FY , t THE HON'BLE siRI JUSTICE P.SAJtr KOSHY AND THE HON'BLE SRI JUSTICE NARSING RAO NANDIKONDA WEALTH TAX APPEA.L No.7 OF 2(X)7 JUDGMENT: An t I,n' e s^ htst,ct P son Koshs) Heard Ms.Bokaro Sapna Reddy, learned Starding Counsel for Income Tax, appearing on behalf of the appellant 2. The instant appeal under 27 (1t), of the Wealth Tax Act, 1957, has been preferred by the Revenue as the appellant zrgainst the order dated 24 .01.2003 passed by the Income Tax Appeliate Tribunal, Hyderabad "A" Bcnch, Hyderabad, in W.T.A.No.48/Hyd/1998 for the Assessment Ycar 1 99O-9 1. 3. Central Roard of Direct Taxes (CBDT) has issued Circular No.9 of 2024 dated 17.O9.20'24, amending the previous Circular No.5 of 2024 dated 15.03.2O24, by further enhancing the monetaqr limits for filing appeals by the lncome Tax Department before the Income Tax Appellate Tribunals, IJigh Courts and Supreme Courl ;rs a measure for reducing litigation. ln paragraph 2 of tll.e said Circr-rlar, we frnd that the monetary limit fi-xed for filing an appeal before the High Court is Rs.2.00 crore. I I

Page 2 of 3 4. In the instant appeal, tax effect is well below the monetary limit 5. Therefore, the appeal hled by the Revenue is dismissed in terms of the aforesaid Circular No.9 of 2024 daLed 17 -O9.2O24. However, if tlre appeal comes within the exception of Circular No.S of 2024 ' it would be open to the Income Tax Department to seek revival of the appeal. No costs. 6 As a sequel, rniscellaneous applications pending if any, shall stand closed. SD/-K,SRINIVASA RAO' OINT REGISTRAR //TRUE COPY// ECTION OFFICER '1 . The lncome Tax Appellate Tribunal, Hyderabad Bench "A" Hyderabad. 2. The Deputy Commissioner of lncome tax, (Appeals), Hyderabad. 3. The Assistanl Commissioner of Wealth Tax, Circle 1 (3), Hyderabad. 4. One CC to Ms. Bokaro Sapna Reddy, Standing Counsel for lncome Tax loPUCl 5. Two CD Copies kam/l)SL To, w

HIGH COURT DATED:1 310212025 JUDGMENT WTA.No.7 of 2007 DISMISSING OF THE APPEAL ,10 /,pn znts 'fr- lHE s14 ( (: I I I I I I I c