THE COMMISSIONER OF INCOME TAX vs. M/S. GINA ENTERPRISES

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ITA/117/2009HC KarnatakaKAHC01019221200906 January 2015Bench: B.VEERAPPA,N.KUMAR3 pages
AI SummaryDismissed

What did the High Court hold?

The High Court held that the appeal was not maintainable in view of CBDT instructions regarding monetary limits for appeals, as interpreted by the Court. However, liberty was reserved for the Revenue to seek revival if they succeed before the Apex Court.

What were the facts?

The Revenue preferred an appeal against an order passed by the Income Tax Appellate Tribunal (ITAT) which had granted relief to the assessee. The net tax effect in the appeal was less than Rs. 10,00,000/-.

What were the issues?

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

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 9TH DAY OF JANUARY, 2015 PRESENT THE HON' BLE MR. JUSTICE N. KUMAR AND THE HON' BLE MR. JUSTICE B. VEERAPPA INCOME TAX APPEAL No.117/2009 BETWEEN:

1.

THE COMMISSIONER OF INCOME-TAX

C.R. BUILDING,

QUEENS ROAD,

BANGALORE

2.

THE ASSISTANT COMMISSIONER OF INCOME-TAX,

CIRCLE-7(1), C.R. BUILDING QUEENS ROAD BANGALORE.

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

AND:

M/S. GINA ENTERPRISES No.45, 11TH CROSS, 1ST STAGE INDIRANAGAR BANGALORE-560 038.

... RESPONDENT (BY SRI B.G. CHIDANANDA URS, ADVOCATE)

2 THIS ITA IS FILED UNDER SECTION 260-A OF THE INCOME TAX ACT, 1961 ARISING OUT OF ORDER DATED 08.10.2008 PASSED IN ITA NO. 155/BANG/2007 AND ITA NO.175/BANG/2007, FOR THE ASSESSMENT YEAR 2003-04, PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED THEREIN AND TO ALLOW THE APPEAL AND SET ASIDE THE ORDERS PASSED BY THE ITAT, BANGALORE IN ITA No.155/BANG/2007 AND ITA No.175/BANG/2007 DATED 08.10.2008 AND CONFIRM THE ORDER PASSED BY THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(1), BANGALORE, IN THE INTEREST OF JUSTICE AND EQUITY.

THIS ITA COMING ON FOR HEARING THIS DAY, N. KUMAR, J., DELIVERED THE FOLLOWING:

JUDGMENT

The revenue has preferred this appeal against the order passed by the Tribunal granting relief to the assessee.

2.

The net tax effect, which is the subject matter of this appeal, is less than Rs.10,00,000/-. In view of the instructions bearing No.3/2001 issued by the CBDT which has been interpreted by this Court to

3 be retrospective in operation in the case of COMMISSIONER OF INCOME TAX vs RANKA & RANKA 352 ITR PAGE 121, the appeal is not maintainable.

3.

However, it is submitted that the revenue has challenged the judgment in the Apex Court and it is pending consideration. In the event the revenue succeeding in the appeal before the Apex Court, liberty is reserved to the revenue to seek for revival of this appeal. As on today, in view of the judgment, the appeal is not maintainable. Accordingly, appeal is dismissed.

Sd/-

JUDGE

Sd/-

JUDGE Sbs*

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