COMMISSIONER OF INCOME TAX vs. M/S VANSHEE BUILDERS AND

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ITA/460/2013HC KarnatakaKAHC01036112201322 April 2021Bench: ALOK ARADHE,M.G.S. KAMAL3 pages
AI SummaryDismissed

What did the High Court hold?

The High Court accepted the assessee's submission that the appeal falls below the monetary limit prescribed by the CBDT circular. Consequently, the appeal was dismissed on this ground.

What were the facts?

The Revenue filed an appeal under Section 260-A of the Income Tax Act against an order of the ITAT. The assessee argued that the appeal should be entertained based on a CBDT circular regarding monetary limits for appeals.

What were the issues?

Whether the appeal filed by the Revenue is maintainable considering the monetary limit prescribed by the CBDT 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 22ND DAY OF APRIL 2021

PRESENT

THE HON’BLE MR. JUSTICE ALOK ARADHE

AND

THE HON’BLE MR. JUSTICE M.G.S. KAMAL

I.T.A. NO.460 OF 2013 BETWEEN:

1.

COMMISSIONER OF INCOME TAX

BANGALORE-III

BANGALORE.

2.

INCOME TAX OFFICER

WARD 12(2), BANGALORE. .... APPELLANTS (BY MR. JEEVAN J. NEERALGI, ADV.,)

AND:

M/S. VANSHEE BUILDERS AND DEVELOPERS P. LTD., NO.684, 9TH A MAIN BINNAMANGALA 1ST STAGE, INDIRANAGAR BANGALORE-560034. ... RESPONDENT (BY MR. A. SHANKAR, SR. COUNSEL A/W MR. RAVISHANKAR, ADV., FOR MR. M. LAVA, ADV.,) - - - THIS I.T.A. IS FILED UNDER SEC. 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 12.04.2013 PASSED ITA NO.536/BANG/2011, FOR THE ASSESSMENT YEAR 2007-08, PRAYING TO (i) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED THEREIN.

(ii) ALLOW THE APPEAL AND SET ASIDE THE ORDER PASSED BY THE ITAT, BANGALORE IN ITA NO.536/BANG/2011 DATED 12.04.2013.

THIS I.T.A. COMING ON FOR HEARING, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING:

JUDGMENT

Sri. A. Shankar, learned Senior Counsel along with Sri. Ravishankar, learned counsel for Sri. M Lava, learned counsel for the assessee.

Sri. Jeevan J. Neeralgi, learned counsel for the revenue.

2.

This appeal under Section 260-A of the Income Tax Act, 1961 has been field by the revenue against the order dated 12.04.2013 of the Income Tax Appellate Tribunal, Bengaluru.

3.

When the matter was taken up today, learned counsel for the assessee submitted that the appeal may be entertained in view of the circular dated 08.08.2019 issued by the Government of India, Department of Revenue, Central Board of Direct Taxes, Judicial Section

as in the instant case, it is less than Rupees One Crore. The aforesaid submission could not be disputed by the learned counsel for the revenue.

4.

In view of the circular dated 08.08.2019, the appeal is dismissed on the ground of monetary limit.

Sd/- JUDGE

Sd/- JUDGE Mds/-

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