THE COMMISSIONER OF INCOME TAX vs M/S CANARA BANK

1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 18TH DAY OF DECEMBER 2015

PRESENT

THE HON’BLE MR.JUSTICE VINEET SARAN

AND

THE HON’BLE MRS.JUSTICE S SUJATHA

ITA NO.462/2015

BETWEEN

THE COMMISSIONER OF INCOME-TAX

LTU

JSS TOWERS

BSK III STAGE

BANGALORE-560 085.

THE INCOME-TAX OFFICER

LTU

JSS TOWERS

BSK III STAGE

BANGALORE-560 085 …APPELLANTS (BY SRI K V. ARAVIND, ADV. & MS. PREETHI J.D., ADV.,)

AND

M/S.CANARA BANK ET & T SECTION HEAD OFFICE BANGALORE. … RESPONDENT

THIS APPEAL IS FILED UNDER SECTION.260- A OF INCOME TAX ACT 1961, PRAYING TO SET ASIDE THE ORDERS PASSED BY THE ITAT,

2 BANGALORE IN ITA NO.1081/BANG/2014 DATED 30.12.2014 AND CONFIRM THE ORDER OF THE APPELLATE COMMISSIONER CONFIRMING THE ORDER PASSED BY THE INCOME TAX OFFICER, LTU, BANGALORE.

THIS APPEAL COMING ON FOR ORDERS, 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that the same will apply retrospectively to pending appeals also, which, if below the specified tax limits, may be withdrawn/not pressed.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

AN/-

THE COMMISSIONER OF INCOME TAX vs. M/S CANARA BANK