Case Otthe Commissioner Of Income Tax And Another v. M/S Ranka And Ranka [352 Itr 121(Kar)]‘Has Held
High Court
20 Jun 2014 In favour of: Assessee
Forum / Bench
High Court · karnataka_bng_old
Parties
Case Otthe Commissioner Of Income Tax And Another v. M/S Ranka And Ranka [352 Itr 121(Kar)]‘Has Held
Date of order
20 Jun 2014
Assessment year(s)
—
Outcome
Dismissed
The order — as passed by the High Court
Case summary
In Case Otthe Commissioner Of Income Tax And Another v. M/S Ranka And Ranka [352 Itr 121(Kar)]‘Has Held, the High Court (2014) dismissed the appeal. The decision went in favour of the assessee.
Decision: However,liberty is reserved to the revenue to revive the appealif the said order passed by this Court is set aside bythe Apex Court.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THB HIGH COURT OF KARNATAKA AT BANGALOREDATED THIS THE 20[th]DAY OF JUNE 2014
PRESENT
THR HON BLE MR. JUSTICE N. KUMAR.
AND
THR HON’BLE MR. JUSTICK B. MANOHAR|ITA No.35 OF 2008
BETWEEN;
1.The Commissioner of Income-Tax,C.R.Building,Queens Road, Bangalore.
2 The Asst. Commissioner ofIncome-Tax, Central Circle-1(4) |C.R.Building, Queens Road,Bangalore... APPELLANTS(By Sri G Kamaladhar, Advocate)AND:sri Chengalaraya NaiduRep. by Sri V Ananda NaiduNo.119, 8[th]Cross, 30[th]MainBoK | StageBangalore._ RBSPONDENT
(By Sri Ashok A Kulkarni tor M/s.K R Prasad, Advocate) -Q-O-O-O-O-
This ITA is filed under Section 260-A of I.T. Act,|1961 arising out of Order dated 24.8.2007 passed inIT(SS)A.No.30/Bang/2006 for the Block AssessmentPeriod1.4.1990|TO23.8.2000CO formulate.the|substantial questions of law stated therein and to allowthe appeal and set aside the order passed by the ITAT,Bangalore|1nNCrob.No.75/B/2007|1NIT(SS)A.No.30/Bang/2006 dated 24.8.2007 confirmingthe order of the Appellate Commissioner and confirmthe order passed by the Assistant Commissioner ofIncome Tax, Central circle — 1(4), Bangalore.
This appeal coming on for hearing this day,N.,KUMAR, J.delivered the following:-
JUDGMENT
TheTEVENUEhas preferred|thisappealchallenging the order passed by the Tribunal.
2. The net tax effect which is the subject matter|of this appeal is Rs.4,47,/792/-. In view of instructionNo. 3/2011 issued by the Department of Revenueprescribing Rs.10,00,000/- as the monetary limit forfiling appeals to this Court, which this Court in the
case ot|The Commissioner Of Income Tax And Another|
Vs M/S Ranka and Ranka [352 ITR 121(KAR)]‘has held
to be retrospective and applicable to pending appeals.
3. Hence, the appeal is dismissed as _ nomaintainable only on the ground of the subject matterbeing within the monetary limit prescribed andwithout going into any other question. However,liberty is reserved to the revenue to revive the appealif the said order passed by this Court is set aside bythe Apex Court.
Sd/-
JUDGE|
Sd/-.
JUDGE
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