THE COMMISSIONER OF INCOME TAX vs. M/S EDGEVERSE SYSTEMS LTD

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ITA/239/2021HC KarnatakaKAHC01011232202120 June 2022Bench: P.S.DINESH KUMAR,C.M. POONACHA3 pages
AI SummaryDismissed

What did the High Court hold?

The High Court noted that the tax effect was less than Rupees one crore. Following its previous practice in similar cases and in view of the relevant circular, the appeal was dismissed.

What were the facts?

The Revenue filed an appeal against an ITAT order for AY 2019-2020. The assessee's counsel submitted that the tax effect was below Rupees one crore.

What were the issues?

Whether the appeal filed by the Revenue should be dismissed 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

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 20TH DAY OF JUNE, 2022 PRESENT THE HON'BLE MR. JUSTICE P.S.DINESH KUMAR AND THE HON’BLE MR. JUSTICE C.M. POONACHA ITA NO. 239 OF 2021

BETWEEN

1 . THE COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION 4TH FLOOR, BMTC BUILDING, 80 FEET ROAD, KORMANGALA, BENGALURU -560 095.

2 . THE DEPUTY COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION, CIRCLE-1(1), 4TH FLOOR, BMTC BUILDING, 80 FEET ROAD, KORAMANGALA, BENGALURU-560 095. ...APPELLANTS (By Sri : ARAVIND K V, ADVOCATE)

AND

M/S EDGEVERSE SYSTEMS LTD 44/97A, KONAPPANA AGRAHARA, HOSUR ROAD, ELECTRONIC CITY, BENGALURU-560 100

2 PAN AADCE6300K TAN BLRE06897C …RESPONDENT (By Sri T SURYANARAYANA, SENIOR COUNSEL FOR MS.TANMAYEE RAJKUMAR)

THIS ITA IS FILED UNDER SECTION 260-A OF THE INCOME TAX ACTR, 1961, IS ARISING OUT OF ORDER DATED 10/09/2020 PASSED IN IT(IT)A NO.14/BANG/2020 FOR THE ASSESSMENT YEAR 2019-2020 PRAYING TO FORMULATED THE SUBSTANTIAL QUESTIONS OF LAW STATED AND ALLOW THE APPEAL AND ETC.,

THIS ITA COMING ON FOR ADMISSION, THIS DAY P.S. DINESH KUMAR J., DELIVERED THE FOLLOWING:

JUDGMENT

Sri T. Suryanarayana, learned Senior Advocate for the respondent/Assessee submits that the tax effect is less than Rupees one crore i.e. Rs.82,53,237/-. He has filed a memo dated 16.11.2021 indicating/showing the tax effect.

2.

Sri Aravind K.V., learned Standing counsel for the appellants submits that in similar cases this Court has disposed of the appeal reserving liberty to the Revenue to reopen the case in the event, the tax effect is more than Rupees one crore.

3 3. In view of the Circular dated 24.06.2019, the tax effect in this appeal being less than rupees one crore, appeal stands dismissed.

Sd/-

JUDGE

Sd/-

JUDGE

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