The Commissioner of Income Tax-III, Hyderabad vs. M/s. V.B.C. Ferro Alloys Limited

t 3386 I IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD WEDNESDAY, THE SECOND 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:424 OF 2006 lncome Tax Tribunal Appeal Under Section 2604 of the lncome Tax Act, 1961 arising out of the order of the lncometax Appellate Tribunal, Hyderabad Bench ' B' Hyderabad, in ITA No.1226lHydl2004, for Assessment Year 2000-2001 dated:15-09-2005, preferred against the Order of the Commissioner of lncome Tax , (Appeals) lV, Hyderabad, Appeal No.9/AC-3(a)iClT(A)-lV/04-05,dated:7-10- 2004,preferred againsl the Order of the Assistanl Commissioner of lncome Tax Circle-3(4), Hyderabad PAN/GlR No.AAACV725BA / V-004 dated:05-03-2004. Between: The Commissioner of lncome Tax-lll, Hyderabad ...APPELLANT AND M/s. V.B.C. Ferro Alloys Limited, 6-2-913t914,3'd Floor, Progressive Towers, Khairatabad, Hyderabad. ...RESPONDENT Counsel for the Appellant: SRI J.V. PRASAD, SENIOR SC FOR INCOME TAX Counsel for the Respondent: SRI CHALLA GUNARANJAN The Court delivered the following: JUDGMENT

T IIi HON'BLE SRI JUSTICE P.SAM KOSIN' AND THE toN'BLE SRI JUSTICE A. LAXIVII NARAYI\N.A I.T.T.A. No. 424 of 2O06 JUDGMENT; g.r,t . t bl,z Si,htstrc.r P. SA.[I I(OSIry/ Hear,l Sri \r.Frasad, learncd Senior Stalding Col-r rs;el appearing for , I the:rppellalt. 2. This appe been prefe:re<l dr, t:t.09.20r15 Pr Bench 'B', I{vrlcr 2000-01 . 3. Central Br 20 r9 dt.08.08.2 dr. I r.07.20 l8 r; by the lncorle 1'r I Iigh Courts anrl paragraph 2l of t. filing zrn app,eal b 4. In the in str 5. 'lhereforr:. the ;rforesair l (lir< comr:s withi n tltr: I urder Section 2(i0A of the Income 'I'z x Act, 1961, has rv 1.he Revenue as the appellrtrLt ir11ir nst the order ;sed by the lncome Ta>i Appellate 'li-itu.ta]. Hyderabad bird in LT.A.No.1226lHydl2OO4 f;r the.d.sse;smenL Ycar u-l :f Dircct 'lnxcs (CBDT) has issued ll .cu ar No.17 of J 9, amending tlre previous C:rcula: No.3 of 2018 l- rr her enhancing the rnonetary limits lirr fi ing appcals ( D€par'l-ment bcfore the lncome Tax Appt: a1: Tribunals, S:rpremc Court as a measure for red,,r:irrEj litigation. In 3 said Circular, wt: find that the rnonet,lr', Iirnit hxed for [ore the High Courr is Rs.1.OO cror,:. 1t appeal, tax efl'ect is well below the mor rer ary limit. rr appeal hled bi the Department s disr:ri.,sec in terms of rLar l,io.17 ot 2019 dt.08.08.2019. Hou'er,r:r, i' the appeal :xception undcr paragraph 10 of Circular I'lo.li of 20I8, it ..--.

2 would be open to the Income Tax Department to seek reviyal of the appeal No order as to costs 6 Consequently, miscellaneous petitions pending, if aly, shall stand To, closed Sd/.C.V.MALLIKARJ UNA V MA JOINT REGI TRAR //TRUE COPY// SECTION OFFICER 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, SENIOR SC FOR INCOME TAX [OPUC] 5. One CC to SRI CHALLA GUNARANJAN, Advocate IOPUC] 6. Two CD Copies kam

HIGH COURI DATED:0210t t2.023 JUDGMENT ITTA.No.424 rfi 2006 THE APPEA - IS DISMISSE ) ..$ ==s \ I il l a, {r( };: 6U .t ) )