THE COMMISSIONER OF INCOME TAX vs. BELLAD BAGEWADI URBAN SOUHARD

ITA/100055/2014HC KarnatakaKAHC02009561201420 February 2017Bench: SREENIVAS HARISH KUMAR,VINEET KOTHARI2 pages

AI SummaryWithdrawn

What did the High Court hold?

The High Court allowed the Revenue's request to withdraw the appeal. The decision was based on the submission made by the learned counsel for the Revenue, citing CBDT Circular No. 21/2015. This circular mandates that appeals should not be filed by the Revenue if the monetary limit of the dispute is below Rs. 20,00,000/-. Since the Revenue stated that the present appeal's monetary stake was less than this limit, and the assessee had no objection, the Court permitted the withdrawal. Consequently, the appeal was dismissed as withdrawn, with no costs awarded.

What were the facts?

The Revenue, comprising the Commissioner of Income Tax and the Assistant Commissioner of Income Tax, filed an Income Tax Appeal under Section 260A of the Income Tax Act, 1961, before the High Court of Karnataka, Dharwad Bench. The appeal was directed against an order passed by the Income Tax Appellate Tribunal, Panaji Bench, in ITA.No.322/PNJ/2013, dated March 6, 2014. The assessee in this appeal is Bellad Bagewadi Urban Souhard Sahakari Bank Niyamith. The High Court heard the appeal on February 20, 2017.

What were the issues?

The primary issue before the High Court was whether the appeal filed by the Revenue should be permitted to be withdrawn. The Revenue's contention was based on Circular No. 21/2015 dated December 10, 2015, issued by the CBDT. This circular stipulated that appeals should not be filed if the monetary stake was less than Rs. 20,00,000/-. The Revenue argued that the present appeal fell within this category and therefore sought permission to withdraw it. The assessee's counsel had no objection to the withdrawal of the appeal.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KARNATAKA DHARWAD BENCH DATED THIS THE 20TH DAY OF FEBRUARY 2017 PRESENT THE HON’BLE DR. JUSTICE VINEET KOTHARI AND THE HON’BLE MR. JUSTICE SREENIVAS HARISH KUMAR INCOME TAX APPEAL No.100055/2014 BETWEEN 1. THE COMMISSIONER OF INCOME TAX, DR B.R. AMBEDKAR ROAD, BELGAUM 2. THE ASST. COMMISSIONER OF INCOME TAX CIRCLE-I, BELGAUM ... APPELLANTS (By Sri. Y V RAVIRAJ, ADV) AND 1. BELLAD BAGEWADI URBAN SOUHARD SAHAKARI BANK NIYAMITH BELLAD BAGEWADI TQ:HUKKERI DIST: BELGAUM ... RESPONDENT (By: Sri.SANGRAM S KULKANI, ADV) THIS INCOME TAX APPEAL IS FILED UNDER SECTION 260A OF THE INCOME-TAX ACT, 1961 AGAINST THE ORDER PASSED IN ITA.NO.322/PNJ/2013 DTD:06.03.2014 ON THE FILE OF THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, PANAJI, THE APPEAL IS HEREBY DISMISSED.

Date of Judgment 20.02.2017 in ITA.No.100055.2014 The Commissioner of Income Tax and another V/s. Shri Bellad Bagewadi Urban Souhard Sahakari Bank Niyamith. . : 2 : THIS APPEAL COMING ON FOR FINAL HEARING THIS DAY, DR.VINEET KOTHARI. J, DELIVERED THE FOLLOWING: J U D G M E N T Mr. Y V RAVIRAJ, Adv. for appellants. Mr. SANGRAM S KULKANI Adv. for respondent. 1. Learned Counsel for the Revenue submits that in view of the Circular No.21/2015 dated 10.12.2015 issued by the CBDT, the present appeal filed by the Revenue has Revenue stake of less than monetary limits of Rs.20,00,000/- and therefore, he may be permitted to withdraw the present appeal. 2. Opposite counsel for the Assesee has no objection to the same. 3. Accordingly, the present appeal of Revenue is dismissed as withdrawn. No Costs. Sd/- JUDGE Sd/- VB/- JUDGE

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