THE PR COMMISSIONER OF INCOME TAX CIT(A) vs. M/S FULCRUM FUND SERVICES INDIA PVT LTD

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ITA/109/2020HC KarnatakaKAHC01014769202022 November 2022Bench: P.S.DINESH KUMAR,T.G. SHIVASHANKARE GOWDA3 pages
AI SummaryDismissed

What did the High Court hold?

The High Court held that the appeal was not maintainable based on the submitted tax effect and the CBDT circular. The appeal was accordingly dismissed.

What were the facts?

The Revenue filed an appeal before the High Court against an ITAT order. The Revenue's counsel conceded that the tax effect was less than Rs. 1.00 Crore.

What were the issues?

The primary issue was the maintainability of the appeal before the High Court due to the tax effect being below the prescribed monetary limit.

Which sections of the Income-tax Act were involved?

Section 260-A

AI-generated summary — verify with the full judgment below

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ITA No. 109 of 2020

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 22ND DAY OF NOVEMBER, 2022 PRESENT THE HON'BLE MR.JUSTICE P.S.DINESH KUMAR AND THE HON'BLE MR.JUSTICE T G SHIVASHANKARE GOWDA INCOME TAX APPEAL NO. 109 OF 2020 BETWEEN: 1. THE PR. COMMISSIONER OF INCOME TAX CIT(A) 5TH FLOOR, BMTC BUILDING 80 FEET ROAD KORMANGALA BENGALURU-560 095 2. THE INCOME-TAX OFFICER WARD-3 3(1)(1) 2ND FLOOR, BMTC BUILDING 80 FEET ROAD KORMANGALA BENGALURU-560 095 …APPELLANTS

(BY SHRI. M. DILIP ADVOCATE FOR SHRI. K.V. ARAVIND, STANDING COUNSEL)

AND: M/S. FULCRUM FUND SERVICES INDIA PVT.LTD., FLAT 102, ARADHANA APARTMENTS SRINIVAGILU, 2ND MAIN ROAD S.T.BED LAYOUT, KORAMANGALA BENGALURU-560 047 PAN-AABCF 1230B …RESPONDENT

Digitally signed by YASHODHA N Location: High Court Of Karnataka

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ITA No. 109 of 2020

(BY SHRI. ANKUR PAI DHUNGAT, ADVOCATE)

THE INCOME TAX APPEAL IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 23.10.2019 PASSED IN ITA NO.2589/BANG/2017, FOR THE ASSESSMENT YEAR 2011-2012 PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED THEREIN AND ALLOW THE APPEAL AND SET ASIDE THE ORDERS PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, BENGALURU IN ITA NO. 2589/BANG/2017 DATED 23.10.2019 FOR ASSESSMENT YEAR 2011-2012 ANNEXURE-D AND CONFIRMING THE ORDER OF THE APPELLATE COMMISSIONER AND CONFIRM THE ORDER PASSED BY THE INCOME TAX OFFICER, WARD-3(1)(1), BENGALURU AND ETC.

THIS INCOME TAX APPEAL, COMING ON FOR ORDERS, THIS DAY, P.S.DINESH KUMAR J., DELIVERED THE FOLLOWING:

JUDGMENT

Sri M.Dilip, learned advocate appearing for the appellants, in his usual fairness, submits that the Tax Effect is less than Rs.1.00 Crore and hence, the appeal is not maintainable. He has filed a memo of even date to the said effect.

2.

Memo be kept in record.

3.

In view of the aforesaid submission and based on the Circular No.17/2019, dated 8th August, 2019 of Central Board of

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ITA No. 109 of 2020

Direct Taxes, the appeal is not maintainable and the same is accordingly dismissed.

No costs.

Sd/- JUDGE

Sd/- JUDGE

YN List No.: 1 Sl No.: 51

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