THE COMMISSIONER vs M/S THE URBAN CO OPERATIVE BANK LTD

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.591/2015

BETWEEN

THE COMMISSIONER OF INCOME-TAX

PARK VIEW BUILDING

NO.284/1, 4TH MAIN,

P.J. EXTENSION,

DAVANGERE – 577 202

THE ASST. COMMISSIONER

INCOME TAX,

CIRCLE – 1, NO.70, 100 FEET ROAD, GOPALAGOWDA EXTENSION SHIMOGA – 577 201 …APPELLANTS (BY SRI K.V. ARAVIND, ADV. & MS. PREETHI J.D., ADV.,)

AND

M/S. THE URBAN CO-OPERATIVE BANK LTD., OLD SANTHE MAIDAN SHIKARIPURA

…RESPONDENT

THIS APPEAL IS FILED UNDER SECTION 260- A OF INCOME TAX ACT 1961, PRAYING TO SET ASIDE THE ORDER PASSED BY THE ITAT, BANGALORE, IN ITA NO.1461/BANG/2014 DATED 29.5.2015 CONFIRMING THE ORDER OF THE APPELLATE COMMISSIONER AND CONFIRM THE ORDER PASSED BY THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, SHIMOGA.

THIS APPEAL COMING ON FOR ADMISSION, 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that the same will apply retrospectively to pending appeals also, which, if below the specified tax limits, may be withdrawn/not pressed.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 vs. M/S THE URBAN CO OPERATIVE BANK LTD