Ita/1077/2017 Of The Pr. Commissioner Of Income Tax v. M/S Aci Worldwide Solutions P Ltd

IN THE HIGH COURT OF KARNATAKA AT BENGALURUDATED THIS THE 22[ND|]DAY OF DECEMBER 20270PRESENT| THE HON’BLE MR. JUSTICE ALOK ARADHE AND| THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASADILT.A. NO.10/77 OF 201 BETWEEN: 1.|THE PR. COMMISSIONER OF INCOME-TAX| 5TH FLOOR, BMTC BUILDING| SO FEET ROAD, KORMANGALA> BENGALURU-560095. 2.|THE DEPUTY COMMISSIONER OF INCOME-TAX. CIRCLE-1(1)(1), 2ND FLOOR| BMTC BUILDING, 80 FEET ROAD. KORMANGALA, BENGALURU-560095. _... APPELLANTS (BY SRI. DILIPKUMAR, ADV., FOR SRI. K.V. ARAVIND, ADV.,) AND" M/S. ACI WORLDWIDE SOLUTIONS P. LTD.,.(FORMERLY KNOWN AS VISUAL WEBSOLUTIONS P. LTD), NO.9°SALARPURIA CAMBRIDGE MALL|CAMBRIDGE ROAD, BENGALURU-560008|PAN: AAACV /7566R. (BY SRI. NARENDRAKUMAR J. JAIN, ADV.,) ~. RESPONDENT THIS I.T.A. IS FILED UNDER SEC. 260-A OF INCOME TAX|ACT 1961, ARISING OUT OF ORDER DATED 26.07.2017 PASSEDIN IT(TP)A NO.262/BANG/2015 FOR THE ASSESSMENT YEAR2010-11, ANNEXURE-D PRAYING TO: (i) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW,STATED ABOVE. (ii) ALLOW THE APPEAL AND SET ASIDE THE ORDERS.PASSED BY THE INCOME-TAX APPELLATE TRIBUNAL, BENGALURUIN IT(TPJA NO.262/BANG/2015 DATED 26.07.2017, ANNEXURE-D, CONFIRMING THE ORDER OF THE DRP AND CONFIRM THE ORDER.PASSED BY THE DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE-1(1)(1), BENGALURU & ETC. THIS ILT.A. COMING ON FOR’ HEARING, THIS DAY, | ALOK ARADHE J.,DELIVERED THE FOLLOWING: | JUDGMENT Mr.Dilip Kumar, learned counsel for Mr.K.V.Aravind,| learned counsel for the revenue. Mr.Narendra Kumar J.Jain, learned counsel for the. aSSeSSee, ?. Learned counsel for the assessee submits that the|tax effect in this appeal is less than Rs.1 Crore and therefore,the appeal should not be entertained at the instance of therevenue in view of the Circular No.17/2019 dated 08.08.2019issued by the Central Board of Direct Taxes. It is also)submitted that the aforesaid Circular binds the revenue. 3. On the other hand, learned counsel for the revenue.submits that ne be granted liberty to revive the appeal incase the matter falls within the exceptions under theaforesaid Circular dated 08.08.2019. 4. In view of the aforesaid submissions, the appeal isdisposed of with liberty as prayed for by the learned counselfor the revenue. Sd/-JUDGE Sd/-—JUDGE RV