The Commissioner of Income Tax -III vs. M/s. Suman Chit Funds (P) Limited

I 13447 | IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THURSDAY, THE THIRTEENTH DAY OF FEBRUARY TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHY AND THE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA WEALTH TAX APPEAL NO: 10 OF 2008 Appeal under Section 27 (A) of the Wealth Tax Act, 1957 arising out of the Order of the lncome Tax Appellate Tribunal, Hyderabad Bench "A" Hyderabad made in W.T.A.No- 245lHydh997 daled 21-11-2002 preferred against the Order of the Deputy Commissioner of lncome tax Circle - 9(1), Hyderabad in PAN/GIR.No.lt/-742 Dated 1 1-02-1 997. Between: Commissioner of Wealth Tax-Vl, Hyderabad. ...APPELLANT AND Nb.Muktaruddin, Hyderabad. ...RESPONDENT Counsel for the Appellant : Ms. Bokaro Sapna Reddy, Sc for lncome Tax Counsel for the Respondents: _ _ _ The Court deliveredd the following: Judgment

THE HC,N'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BI,E SRI JUSTICE NARSING RAO NANDII(ONDA WIDALTH TAX APPEAL No. 10 OF 2OO8 JUDGMENT'. (1t. t I:t tt)r( sri rustlce P.sc:m Koshlr) Heard Ms.Br1.:iLro Sapna Reddy, learned Standir-r11 (lounsel for Income Ta-x, apperrr rrg on behalf of the appellant 2. The instant rp1>eal under 27(A) of the Wealth Tax I'ct, 1957, has been preferreci b' t re Revenue as the appellant agains.. the order dated 2 1. ) 1 .2O0 , l,assed by the Income Tax Appel1at,: Tribunal, \ ,r Hyderabad "A" Benr;r. Hyderabad, in W.T.A.No.245/H1c1 11997 for the Assessment Year ic)!'0-9 I 3. Central Boalcl of Direct Ta-xe s (CBDT) has issued Circ,rlar No.9 of 2024 dated 17 092C21 , amending the previous Cir,:ulzLl Nr.5 of 2024 dated I5.O3.2O2,1 ir',' further enhancing the monetarl. Im.ts for filing appeals by ti-ie In c ome Tax Department before the I rrcome Tax Appeilate Tribun:r s, High Courts and Supreme Court as a rneasure for reducing litigatior Ir paragraph 2 of the said Cirt:u1ar. v'e find that the monetary Lmir l:xed lor filing an appeal before the llii3h Court is Rs.2.O0 crore

Page 2 of 3 4. In the instalt appeal, tax effect is well below the monetary limit. 5. Therefore, the appeal filed by the Revenue is dismissed in terms of the aforesaid Circular No.9 of 2024 dated 17.O9.2O24. However, if the appeal comes within the exception of Circular No. 5 ol 2024 , it would be open to the Income Tax Department to seek revival of the appeal. No costs. 6. As a sequel, miscellaneous applications pending if any, shall stand closed SD/.K.SRINIVASA RAO JOINT REGISTRAR //TRUE COPY// I secrrJr.f orrrcen To, 1 The lncome Tax Appellate Tribunal, Hyderabad Bench ,,A,, Hyderabad 2- Deputy Commissioner of lncome tax Circle - 9(1), Hyderabad ? 9"" 99 to Ms. Bokaro Sapna Reddy, Sc for tncome Tax [OpUC] 4. Two CD Copies ADK/DL {

, HIGH COIJF:T DATED:1 ,31C1212025 JUDGMEI!T WTA.No.10 of 2008 WITHOUTCOSTS l i ''" 'tii'"' ^lr .s \= $ ts\ I I DISMISSII\Ci THE ITTA 4 6I !