Loading judgment…
No AI summary yet for this case.
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 17TH DAY OF DECEMBER, 2015
PRESENT
THE HON'BLE MR. JUSTICE VINEET SARAN
AND
THE HON’BLE MRS. JUSTICE S.SUJATHA
ITA No. 548/2013
BETWEEN
THE COMMISSIONER OF INCOME TAX PARK VIEW BUILDING, NO.284/1, 4TH MAIN, P.J.EXTENSION, DAVANAGERE-577 002.
THE ADDL. COMMISSIONER OF INCOME TAX, DAVANAGERE BRANCH, PARK VIEW BUILDING, NO.284/1, 4TH MAIN, P.J.EXTENSION, DAVANAGERE-577 002.
...APPELLANTS
(BY SRI. K.V. ARAVIND & MS. PREETHI.J.D.-ADVs)
AND
THE DAVANAGERE URBAN COOPERATIVE BANK LIMITED, BANK LIMITED, PB ROAD, DAVANAGERE.
... RESPONDENT
(BY S. PARTHASARATHI & JINITA CHATTERJEE-ADVs)
THIS ITA IS FILED UNDER SECTION 260A OF INCOME TAX ACT, 1961, PRAYING TO SET ASIDE THE ORDER PASSED BY THE ITAT, BANGALORE IN ITA NO.919/BANG/2012 DATED: 5.7.2013, ETC.
THIS ITA COMING ON FOR HEARING THIS DAY, VINEET SARAN J., DELIVERED THE FOLLOWING:
JUDGMENT
Learned counsel for the appellants-Revenue has placed before us a recent Circular No.21/2015 dated 10.12.2015, issued by the Central Board of Direct taxes, wherein the monetary limit of the tax effect for filing appeals before the High Court has been enhanced from Rs.10 lacs to Rs.20 lacs. In paragraph-10 of the said Circular, it has been clarified that the same will apply retrospectively to pending appeals also, which, if below the specified tax limits, may be withdrawn/not pressed.
Learned counsel for the appellants has stated that the tax effect in the present appeal is below the specified limit of Rs.20 lacs.
Accordingly, in view of the Circular No.21/2015 dated 10.12.2015, the tax effect in this appeal being less than Rs.20 lacs, the appeal stands dismissed.
Sd/-
JUDGE
Sd/-
JUDGE TL