Loading judgment…
No AI summary yet for this case.
13447 | IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD TUESDAY, THE TWENTY FOURTH DAY OF JUNE TWO THOUSAND AND TWENry FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHY AND THE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAL NO: 249 OF 2015 Appeal filed under Sec.260A of the lncome Tax Act, i961 against the order of the lncome-tax Appellate Tribunat, Bench ,B,, Hyderabad in ITA.No.470/H/2014, dated 28.8.2014 for the Assessment year 2009-10 (served on 24.1O.201 4 in PAN.No.AABCM4751 G. Between: THE PRL COMMR OF INCOME TAX-|V, HYDERABAD, Hyderabad ...APPELLANT AND M/S MARGADARSI CHIT FUND tPI LTD,, HYDERABAD, 5-10-195, OPP Police Control Room Hyderabad ...RESPONDENT Counsel for the Appellant: SRl. J V PRASAD Standing Counset For lncome Tax Department. Counsel for the Respondents: SRI C V NARASIMHAM The Court made the following: ORDER
( t THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNAL APPEAI No.249 OF 2015 WDGMENT: bter Ho^'bte sri.htsdce .e.sam xosr.y, The instant appeal is filed under Section 260A of the Income Tax Act, 196 1 (for short, .the Act, 196 1,), has been preferred by the appellant-Principal Commissioner of Income Tax-IV against the order, dated 2g.Og.2Ol4, in LT.A.No.470 lHydl2ola passed by the learned Income Tax Appellate Tribuna_I, Hy{erabad ,B,,Bench, Hyderabad, for the Assessment Year 2OO9 -2O lO. 2. Heard learned counsel appearing for the parties. 3. The Central Board of Direct Taxes (CBDT) has issued Circular No.9 of 2024 dated 12.O9.2024, amending the previous Circuiar No.S of 2024 dated 15.03.2024, by further enhancing the monetar5z 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 hxed for fiIing an appeal before the High Court is Rs.2.00 crore. \
In the instant appeal, tax effect is well below the monetary limit. 5. Therefore, the appeal filed by the Revenue is dismissed in terms of the afore said Circuiar No.9 of 2024, dated 17.09.2024. However, if the appeal comes within the exception of Circular No.5 of 2024, dated 15.03.2024, rt would be open to the Income Tax Department to seek revival of the appeal. No costs. 6. Miscellaneous petitions, if any, pending shall stand closed. SD/- A.V.S.S.C.S.M. SARMA JOINT REGISTRAR //TRUE COPY// SECTION OFFICER 1. The lncome-Tax Appellate Tribunal, Bench-'B', Hyderabad. 2. The Commissioner, lncome Tax lV, Hyderabad. 3. One CC to SRl. J V PRASAD,Standing Counsel for income tax department, advocate [opuc] 4. One CC to SRl. C V NARASIMHAM Advocate [OPUC] 5. Two CD Copies W II To,
HIGH COURT DATED:2410612O25 ORDER lTTA.No.249 ot 2015 DISMISSING THE APPEAL 0 5 AU6 2025 :o rtl I a +a * Pa tcHFro '( .LD ex 7 a) ()