THE COMMISSIONER OF INCOME TAX vs. M/S ASM TECHNOLOGIES LTD

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ITA/664/2015HC KarnatakaKAHC01048399201517 March 2016Bench: B.V.NAGARATHNA,JAYANT PATEL2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court noted the concession made by the learned counsel for the appellants (revenue) regarding the tax effect of Rs. 14,17,621/-. Following the Circular dated 10/12/2015, which states that appeals with a tax effect below Rs. 20.00 lakh should not be pressed, the Court held that the appeal was not to be pressed. Consequently, the appeal was disposed of as not pressed. No specific findings were made on the merits of the ITAT's order, and the operative direction was to dispose of the appeal as not pressed.

What were the facts?

The appellants, the Commissioner of Income-Tax and the Deputy Commissioner of Income-Tax, filed an appeal under Section 260-A of the Income Tax Act, 1961, before the High Court of Karnataka. The appeal arose out of an order dated 30/07/2015 passed by the Income Tax Appellate Tribunal (ITAT) in ITA No. 524/Bang/2015. The assessment year in question was 2010-2011. The respondent is M/s. ASM Technologies Ltd. The matter was listed for orders.

What were the issues?

The High Court had to decide whether to entertain the appeal filed by the revenue. The revenue, represented by Mr. K.V. Aravind, conceded that the tax effect in the impugned order of the ITAT was Rs. 14,17,621/-. The revenue relied on Circular dated 10/12/2015, which stipulates that appeals with a tax effect less than Rs. 20.00 lakh are not to be pressed. The respondent did not record any arguments.

Which sections of the Income-tax Act were involved?

Section 260-A

AI-generated summary — verify with the full judgment below

- 1 -

IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 17TH DAY OF MARCH, 2016

PRESENT

THE HON'BLE MR. JUSTICE JAYANT PATEL

AND

THE HON’BLE MRS. JUSTICE B.V.NAGARATHNA

I.T.A. NO.664/2015

BETWEEN:

1.

THE COMMISSIONER OF INCOME-TAX, 5TH FLOOR, BMTC BUILDING, 80 FEET ROAD, KORMANGALA, BANGALORE – 560 095.

2.

THE DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE -1(1)(1), 2ND FLOOR, BMTC BUILDING, 80 FEET ROAD, KORMANGALA, BANGALORE – 560 095.

... APPELLANTS

(BY SRI: K.V. ARAVIND, ADVOCATE)

AND:

M/S. ASM TECHNOLOGIES LTD., #80/2, LUSANNE COURT, RICHMOND ROAD, BANGALORE – 560 025. PAN: AABCA 4362P.

... RESPONDENT

*****

THIS ITA IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED:30/07/2015 PASSED IN ITA NO.524/BANG/2015, FOR THE ASSESSMENT YEAR 2010-2011.

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THIS ITA COMING ON FOR ORDERS THIS DAY, JAYANT PATEL J., DELIVERED THE FOLLOWING:-

J U D G M E N T

When the matter is taken up today, Mr.K.V.Aravind, learned counsel appearing for appellants fairly concedes that the tax effect in the impugned order of the Tribunal is Rs.14,17,621/-. Therefore, as per the Circular dated 10/12/2015, where the tax effect is less than Rs.20.00 lakh, the appeal is not to be pressed. Hence, the appeal is disposed of as not pressed.

Sd/- JUDGE

Sd/-

JUDGE

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