THE COMMISSIONER OF INCOMETAX -III vs. M/S. SHRIRAM CHITS PVT. LTD.,

IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD WEDNESDAY ,THE TWENry EIGHTH DAY OF DECEMBER TWO THOUSAND AND TWENTY TWO PRESENT THE HON'BLE THE CHIEF JUSTICE UJJAL BHUYAN AND THE HON'BLE SRI JUSTICE C.V. BHASKAR REDDY INCOME TAX TRIBUNAL APPEAL NO: 199 OF 2005 Appeal Under Section 260 A of the lncome Tax Act, 1961 against the order dated 05-09-2005 in ITA No. 506 / Hyd/ 1999 ( Assessment Year 1995- 96) on the file of the lncome Tax Appellate Tribunal, Hyderabad Bench B Hyderabad preferred against the order of the Commissioner of lncome Tax (Appeals ) , Hyderabad dated 30-03-1999 in Appeal No. 132 / DCSR/ CIT (A) -l / 98-99 preferred against the order of the Deputy Commissioner of lncome Tax ( Assts ) Special Range -3 , Hyderabad. Dated 17-11-1997 in Pan ./ GIR No. S- 17l Sr. 3 ...APPELLANT AND M/s. Shriram Chits Pvt. Ltd., Hyderabad ,..RESPONDENT Counsel for the Appellant:SRl. J V PRASAD (SC FOR INCOME TAX) Counsel for the Respondent: SRI R.V. EASWAR The Court delivered the following: JUDGMENT \ Between: The Commissioner Of lncometax -lll, Hyderabad.

THE HON'BLD THE CHIEF JUSTICE UJJAL BHIIYAN AND THE II()N'BLE SRI JUSTICE C.V.BHASKAR REDDY I.T.T.A. No.199 of 2OOS JUDGM.ENT: (Per the Hon'ble the Chief Justice Ujjal Bhuya/L) Heard Mr. J.V.Prasad, learned Standing Counsel for Income Tax Department appearing for the appellant and Mr. R.V.Easwar, learned Senior Counsei lor the respondent. 2. Tbis appeai under Section 260A of the Income Tax Act, 19b1, has been filed against the order dated 26.07.2OO4 passed by the Income Tax Appellate Tribunal, Hyderabad Bench ts', Hyderabad (Tribunal) in I.T.A.No.506/Hydl1999 for the assessnlent year 1995-96. 3. Mr. J.V.Prasad, learned Standing counsel fairly submits that ta-x effect in this appeal is below the monetary limit for liling appeal. 4. Central Board of Direct Taxes (CBDT) has issued Circular No.17 of 2019, dated 08.08.2019, amending the previous Circular No.3 of 2018, dated I 1.07.20 18, by further enhancing the monetary limits for filing appeals by the I I Income Tax Department before the Income Tax Appellate I I

2 :.\ 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 fixed for filing an appeal before the High Court is Rs.1.00 crore. 5. Therefore, the appeal Iiled by the Department is dated 08.08.2019. However, if the appeal comes within the exception under paragraph 10 of Circular No.3 of 2018, it would be open to the Income Tax Department to seek revival of the appeal. Miscellaneous applications pending, if any, shall stand closed. However, there shall be no order as to costs. Sd/-K.SRINIVASA RAO JOrNT REGTSFRAR //TRUE COPY// . / V SECTION OFFICER Tor. The lncome Tax Appellate Tribunal, Hyderabad Bench B Hyderabad z. The Commissioner of lncome Tax (Appeals ) , Hyderabad r. The Deputy Commissioner of lncome Tax ( Assts ) Special Range -3 , Hyderabad. 4. One CC to SRl. J V PRASAD (SC FOR INCOME TAX) Advocate [OPUC] 5. One CC to SRl. R.V. EASWAR , Advocate [OPUC] 6. Two CD Copies q dismissed in terms of the aforesaid Circular No.17 of 2019, \

HIGH COURT DATED:281121"2022 JUDGMENT ITTA.No.199 of 2005 DISMISSINC THE IlI'A 1 HE Sl4 74 ( i) 21 JAil ?[?3 I I @*r;q b,e--- (o.\*