THE COMMISSIONER OF INCOME TAX vs. M/S BAL PHARMA LTD.,

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ITA/241/2013HC KarnatakaKAHC01020250201318 December 2015Bench: S.SUJATHA,VINEET SARAN3 pages
AI SummaryDismissed

What did the High Court hold?

The High Court, following a CBDT circular, dismissed the appeal. The circular enhanced the monetary limit for filing appeals to the High Court and allowed for withdrawal of pending appeals below the specified limit.

What were the facts?

The Revenue filed an appeal before the High Court challenging an ITAT order. The tax effect in the present appeal was below the enhanced monetary limit for filing appeals.

What were the issues?

Whether the appeal filed by the Revenue should be dismissed due to the tax effect being below the revised monetary limit prescribed by a CBDT circular.

Which sections of the Income-tax Act were involved?

Section 260-A

AI-generated summary — verify with the full judgment below

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.241/2013

BETWEEN

1.

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

2.

THE INCOME TAX OFFICER WARD – 16[1] NO.59, HMT BHAVAN, 4TH FLOOR, BELLARY ROAD, GANGANAGAR BANGALORE … APPELLANTS (BY SRI K V ARAVIND, ADV. & MS. PREETHI J.D. ADV.)

AND

M/S. BAL PHARMA LTD., NO.10/1, 5TH FLOOR, LAXMINARAYAN COMPLEX, PALACE ROAD, BANGALORE – 560 052 ... RESPONDENT

(BY M/S. S. PARTHASARATHI, ADV., & MS. JINITHA CHATTERJEE, ADV.,)

2 THIS INCOME TAX APPEAL IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, PRAYING TO SET ASIDE THE ORDERS PASSED BY THE ITAT, BANGALORE IN ITA NO.1261/BANG/2011 DATED:4/1/2013 CONFIRMING THE ORDER OF THE APPELLATE COMMISSIONER AND CONFIRM THE ORDER PASSED BY THE INCOME TAX OFFICER, WARD – 16[1], BANGALORE.

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that the same will apply retrospectively to pending appeals also, which, if below the specified tax limits, may be withdrawn/not pressed.

2.

Learned counsel for the appellants has stated that the tax effect in the present appeal is below the specified limit of Rs.20 lacs.

3.

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

AN/-

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