Beretrospectiveinoperationin.thecase€Otcommissioner Of Income Tax v. Ranka &Ranka3952 Itr Page 121The Appeal Is Notmaintainable

IN THE HIGH COURT OF KARNATAKA AT BENGALURUDATBD THIS THER DAY OF JANUARY, 2015 PRESENT THR HON' BLE MR. JUSTICK N. KUMAR ANT) THR HON' BLE MR. JUSTICEK B. VEBRAPPA INCOME TAX APPEAL No.117/2009 BBRTWEHR 1.)THR COMMISSIONBR OF INCOME-TAX C.R. BUILDING, QUEENS ROAD, BANGALORE iaTHE ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-7(1),C.R. BUILDINGC.R. BUILDING QUEENS ROAD BANGALORE. _ APPBRLLANTS| (BY SRI K V ARAVIND, ADVOCATE) AND: M/S. GINA ENTERPRISESNo.45, 11[‘T]CROSS, 1 STAGEHEINDIRANAGAR|BANGALORE -560 O38. ... RESPONDENT (BY SRI B.G. CHIDANANDA URS, ADVOCATE) THIS ITA IS FILED UNDER SECTION 260-A OFTHE INCOME TAX ACT, 1961 ARISING OUT OF ORDER)DATED|O8.10.2008PASSEDIN|ITANO.155/BANG/2007 AND ITA NO.175/BANG/2007, FOR:THE ASSESSMENT YEAR 2003-04, PRAYING TO)FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW.STATED THEREIN AND TO ALLOW THE APPBAL AND|SET ASIDE THE ORDERS PASSED BY THE ITAT,BANGALORE IN ITA No.195/BANG/2007 AND ITANo.175/BANG/2007—DATED|08.10.2008ANT)CONFIRM THR ORDER PASSBD BY THE ASSISTANT|COMMISSIONER.ORINCOMETAX,CIRCLE-7(1),.BANGALORE, IN THE INTEREST OF JUSTICE AND)EQUITY. THIS ITA COMING ON FOR HEARING THIS DAY,N. KUMAR, J., DELIVERED THE FOLLOWING: JUDGMENT The revenue has preferred this appeal against theorder passed by the Tribunal granting relief to theaSSECSSFEC 2 |The net tax effect, which is the subject matter of this appeal, is less than Rs.10,00,000/-. Inview of the instructions bearing No.3/2001 issued bythe CBDT which has been interpreted by this Court to beretrospectiveInoperationin.theCaSE€oT|COMMISSIONER OF INCOME TAX vs RANKA &RANKA|3952 ITR PAGE 121the appeal is not|maintainable. 3.|However, it 1s submitted that the revenuehas challenged the judgment in the Apex Court and it is"pending consideration. In the event the revenue|succeeding in the appeal before the Apex Court, libertyis reserved to the revenue to seek for revival of this|appeal. As on today, in view of the judgment, theappeal is not maintainable. Accordingly, appeal isdismissed, Sbs* od/-|JUDGE| od/- JUDGE