THE COMMISSIONER OF INCOME TAX vs. M/S C M FINANCE & LEASING PRIVATE LTD

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ITA/6/2007HC KarnatakaKAHC01031439200712 September 2012Bench: B.MANOHAR,K.SREEDHAR RAO3 pages
AI SummaryDismissed

What did the High Court hold?

The High Court dismissed the appeals based on a circular and a previous decision of the court regarding monetary limits for appeals. The court did not delve into the merits of the case.

What were the facts?

The appeals were filed by the Income Tax Department against an order of the ITAT. The monetary limit of the appeals was less than one lakh rupees.

What were the issues?

The primary issue was whether the appeals should be entertained given the low monetary limit, in light of departmental circulars and judicial precedents.

Which sections of the Income-tax Act were involved?

Section 260-A

AI-generated summary — verify with the full judgment below

Heard together (2 matters)

ITA No.1337/Bang/2005
ITA No.1336/Bang/2005

Read from the judgment's own cause title. This page is filed under one of them.

1 IN THE HIGH COURT OF KARNATAKA, BANGALORE DATED THIS THE 12TH DAY OF SEPTEMBER, 2012 PRESENT THE HON'BLE MR. JUSTICE K.SREEDHAR RAO AND THE HON'BLE MR. JUSTICE B.MANOHAR I.T.A. No.6 OF 2007 C/W. I.T.A. No.7 OF 2007 I.T.A. No.6 OF 2007:- BETWEEN:- 1. The Commissioner of Income Tax, No.55/1, Shilpashree, Vidhyaranya Complex, Vishveshwaranagar, Mysore. 2. The Assistant Commissioner of Income Tax, Circle-1(2), No.55/1, Shilpashree, Vidhyaranya Complex, Vishveshwaranagar, Mysore. Appellants (By Sri Sanmathi Indrakumar, Advocate) AND:- M/s.C.M. Finance & Leasing Pvt. Ltd., Kothwal Ramaiah Street, Mysore. Respondent (By Sri A. Shankar, Advocate)

2 This I.T.A. is filed U/s.260-A of I.T. Act, 1961 arising out of order dated 21.07.2006 passed in I.T.A.No.1337/Bang/2005 for the Assessment Year 2001-02, praying that this Hon’ble Court may be pleased to (i) formulate the substantial questions of law stated therein and (ii) allow the appeal and set-aside the order of the ITAT, Bangalore in ITA No.1337/Bang/2005 dated 21.07.2006 and confirm the order of the Appellate Commissioner confirming the order passed by the Asst. Commissioner of Income Tax, Circle-1(2), Mysore, in the interest of justice and equity. I.T.A. No.7 OF 2007:- BETWEEN:- 1. The Commissioner of Income Tax, No.55/1, Shilpashree, Vidhyaranya Complex, Vishveshwaranagar, Mysore. 2. The Assistant Commissioner of Income Tax, Circle-1(2), No.55/1, Shilpashree, Vidhyaranya Complex, Vishveshwaranagar, Mysore. Appellants (By Sri Sanmathi Indrakumar, Advocate) AND:- M/s.C.M. Finance & Leasing Pvt. Ltd., Kothwal Ramaiah Street, Mysore. Respondent (By Sri A. Shankar & Sri M. Lava, Advocates)

3 This I.T.A. is filed U/s.260-A of I.T. Act, 1961 arising out of order dated 21.07.2006 passed in I.T.A.No.1336/Bang/2005 for the Assessment Year 2000-01, praying that this Hon’ble Court may be pleased to (i) formulate the substantial questions of law stated therein and (ii) allow the appeal and set-aside the order of the ITAT, Bangalore in ITA No.1336/Bang/2005 dated 21.07.2006 and confirm the order of the Appellate Commissioner confirming the order passed by the Asst. Commissioner of Income Tax, Circle-1(2), Mysore, in the interest of justice and equity. These appeals are coming on for final hearing this day, SREEDHAR RAO, J., delivered the following: J U D G M E N T In both the appeals, the monetary limit is less than one lakh. In view of Circular No.2/05 and the decision of this Court in ITA No.907/2006 decided on 20.09.2011, the appeals are dismissed. Sd/- JUDGE Sd/- JUDGE NM*

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