THE COMMISSIONER OF INCOME TAX vs M/S. SAPTHARSHI CREDIT COOPERATIVE SOCIETY LTD.

1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 21ST DAY OF SEPTEMBER 2016

PRESENT

THE HON’BLE MR.JUSTICE JAYANT PATEL AND THE HON’BLE MR.JUSTICE ARAVIND KUMAR ITA NO.596/2013 BETWEEN:

THE COMMISSIONER OF INCOME-TAX, C R BUILDING, QUEENS ROAD, BANGALORE.

THE INCOME-TAX OFFICER , WARD-3(1), C R BUILDING, QUEENS ROAD, BANGALORE.

... APPELLANTS

(BY SRI.K.V.ARAVIND, ADV. FOR SRI.G.KAMALADHAR, ADV.)

AND:

M/S. SAPTHARSHI CREDIT CO-OPERATIVE SOCIETY LTD, #6/1, MALLIKARJUNA TEMPLE STREET,

2 DVG ROAD, BASAVANAGUDI, BANGALORE - 560 004.

... RESPONDENT

(RESPONDENT SERVED)

THIS ITA IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 13/06/2013 PASSED IN ITA NO.1662/BANG/2012, FOR THE ASSESSMENT YEAR 2009-10, PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED THEREIN AND ALLOW THE APPEAL AND SET ASIDE THE ORDER DATED 13/06/2013 PASSED BY THE ITAT, BANGALORE IN ITA NO.1662/BANG/2012 CONFIRMING THE ORDER OF THE APPELLATE COMMISSIONER AND CONFIRM THE ORDER PASSED BY THE INCOME TAX OFFICER, WARD-3(1), BANGALORE.

THIS APPEAL COMING ON FOR HEARING THIS DAY, JAYANT PATEL J., DELIVERED THE FOLLOWING:

JUDGMENT

When the matter is taken up for hearing, the learned counsel appearing for the Revenue states that as per the Circular dated 10.12.2015 issued by the Central Board of Direct Taxes (‘CBDT’ for short), as the monetary limit for pursuing the appeal is raised from

3 Rs.10,00,000/- (Ten Lakhs) to Rs.20,00,000/- (Twenty lakhs) for the High Court litigation and same would apply to all pending matters and as the subject matter of the present appeal is not exceeding Rs.20 lakhs, he does not press the present appeal. Hence, the appeal shall stand disposed of as not pressed.

Sd/- JUDGE

Sk/-

THE COMMISSIONER OF INCOME TAX vs. M/S. SAPTHARSHI CREDIT COOPERATIVE SOCIETY LTD.