THE COMMISSIONER OF INCOME TAX vs. M/S M K AGROTECH PVT LTD

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ITA/89/2010HC KarnatakaKAHC01018686201017 December 2015Bench: S.SUJATHA,VINEET SARAN2 pages
AI SummaryDismissed

What did the High Court hold?

The High Court, following the CBDT circular, held that appeals with a tax effect below the specified limit should not be pressed. Consequently, the appeals were dismissed.

What were the facts?

The Revenue filed appeals before the High Court. The tax effect in these appeals was below the enhanced monetary limit for filing appeals. The CBDT issued a circular enhancing the monetary limit for filing appeals to the High Court.

What were the issues?

Whether the appeals filed by the Revenue should be dismissed based on the revised monetary limit for filing appeals as per the CBDT circular.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 17TH DAY OF DECEMBER, 2015

PRESENT

THE HON'BLE MR. JUSTICE VINEET SARAN

AND

THE HON’BLE MRS. JUSTICE S.SUJATHA

ITA No. 88/2010 C/W ITA NO.89/2010

BETWEEN:

1.

THE COMMISSIONER OF INCOME TAX, NO.55/1, SHILPASHREE, VIDYARANYA COMPLEX, VISHVESHWARANAGAR MYSORE.

2.

THE ADDL. COMMISSIONER OF INCOME TAX RANGE-2, NO.55/1, SHILPASHREE, VIDYARANYA COMPLEX, VISHVESHWARANAGAR, MYSORE. ... APPELLANTS (COMMON)

(BY SRI.K.V.ARAVIND & MS.PREETHI.J.D-ADVs)

AND:

M/S M.K. AGROTECH PVT., LTD., M.B.ROAD, SRIRANGAPATNA, MANDYA DISTRICT. ... RESPONDENT (COMMON)

(BY SRI.A.SHANKAR & M.LAVA–ADVs)

THESE ITAs ARE FILED UNDER SECTION 260A OF INCOME TAX ACT, 1961, PRAYING TO SET ASIDE THE ORDERS PASSED BY THE ITAT, BANGALORE IN ITA Nos.443/BNG/2009 AND 401/BANG/2009 RESPECTIVELY DATED: 30.09.2009, ETC.

THESE ITAs 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that the same will apply retrospectively to pending appeals also, which, if below the specified tax limits, may be withdrawn/not pressed.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 appeals 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 these appeals being less than Rs.20 lacs, the appeals stand dismissed.

Sd/-

JUDGE

Sd/-

JUDGE TL

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