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

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ITA/238/2021HC KarnatakaKAHC01011230202121 June 2022Bench: P.S.DINESH KUMAR,C.M. POONACHA3 pages
AI SummaryDismissed

What did the High Court hold?

The High Court, in view of the Circular dated 24.06.2019 and the tax effect being less than Rs. One Crore, dismissed the appeal.

What were the facts?

The Revenue filed an appeal before the High Court against an ITAT order. The respondent-assessee submitted that the tax effect in the appeal was less than Rs. One Crore.

What were the issues?

The primary issue was whether the appeal filed by the Revenue should be dismissed due to the tax effect being below the threshold stipulated in the circular.

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 21ST DAY OF JUNE, 2022

PRESENT

THE HON’BLE MR. JUSTICE P.S. DINESH KUMAR

AND THE HON’BLE MR. JUSTICE C.M. POONACHA

I.T.A NO.238 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

KORMANGALA

BENGALURU - 560 095.

.…APPELLANTS

(BY SHRI. ARAVIND K.V., ADVOCATE)

AND:

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

…RESPONDENT

(BY Ms. MAHIMA GOUD, ADVOCATE FOR Ms. TANMAYEE RAJKUMAR, ADVOCATE)

THIS ITA IS FILED UNDER SECTION 260-A OF THE INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED:10.09.2020 PASSED IN IT(IT)A NO.12/BANG/2020, FOR THE ASSESSMENT YEAR 2017-2018 PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW AND ETC.

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

JUDGMENT

Ms.Mahima Goud, learned Advocate for the respondent-assessee submits that the tax effect is less than Rs.One Crore, i.e., Rs.97,41,315/-. She has filed a memo dated 16.11.2021 indicating the tax effect.

2.

Shri K.V.Aravind, 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 Rs.One Crore.

3.

In view of the Circular dated 24.06.2019, the tax effect in this appeal being less than Rs.One Crore, the appeal stands dismissed.

No costs.

Sd/- JUDGE

Sd/- JUDGE

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