It 1S Contended By The Learned Counsel For The v. Ranka ®& Ranka(352

IN THE HIGH COURT OF KARNATAKA AT BANGALORE DATED THIS THR 12[th]DAY OF DECEMBER, 2014 PRESENT THR HON' BLE MR. JUSTICK N.KUMAR AND THR HON' BLE MR. JUSTICK B. MANOHAR ITA No. 294/2009 BBRTWEHR 1.The Commissioner ofIncome Tax,C.R. Building,Queens Road,Bangalore. a2The Income Tax Officer,Ward-16(2),C.R. Building,|Queens Road, Bangalore, ... APPELLANTS (BY SRI K.V. ARAVIND, ADVOCATE) AND: M/s. Margasoochi Chits Pvt. Ltd.,No.912/2, 18[th]‘A’ Main,Rajajinagar, 9[th]Block,Bangalore-560 O10. ... RESPONDENT (BY SRI A SHANKAR & M. LAVA, ADVOCATES) This ITA is filed under Section J6O0O-A of th Income Tax Act, 1961 arising out of Order dated 16.1.2009 passed in ITA No.996/BNG/2008 for theassessment year 2006-07 praying to formulate thesubstantial questions of law stated therein and to allowthe appeal and set aside the order passed by the ITATBangalore in ITA No.996/BNG/2008 dated 16.1.2009—confirming the order of the Appellate Commissioner andconfirm the order passed by the Income Tax Officer,Ward-12(2), Bangalore. This ITA coming on for Hearing this day, N. KumarJ., deliveredthe following: JUDGMENT The net tax effect in this appeal is less than Rs.10lakhs. 2. It 1s contended by the learned Counsel for the, revenue that the net tax effect is excluding interest andit has to be added. Even if the interest is added, the nettax effect would be less than Rs.10 lakhs, in which.event, in view of Circular No.3/2011 which is held to beretrospective in operation by this Court in the case ofCOMMISSIONER OF INCOME TAX vs RANKA ®& RANKA(352 ITR 121), the appeal is not maintainable. However, it issubmitted that the revenue has preferred an appeal to the Apex Court against the judgment of this Court which is pending consideration. ~ 3. Accordingly, the appeal is dismissed reserving liberty to the revenue to seek for revival in the event of itsucceeding in appeal. sd/-|Judgeod/-/JudgeNsu/-_