Ita/115/2013 Of Commissioner Of Income Tax v. M/S Krishna Enterprises

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 29 DAY OF AUGUST, 2019 PRESENT THE HON'BLE MR.JUSTICE L. NARAYANA SWAMY AND THE HON BLE MR.JUSTICE R. DEVDAS| .INCOME TAX APPEAL Nos.1151116/201 BETWEEN: 1.Commissioner of Income Tax, Bengaluru-III, Bengaluru. 2).Assistant Commissioner of Income Tax,Circle 6(1), Bengaluru.Circle 6(1), Bengaluru. ... Appellants - (By Sri E.R. Indrakumar, Senior Counsel! forSri E.I. Sanmathi, Advocate)Sri E.I. Sanmathi, Advocate) AND: M/S Krishna Enterprises (Housing &Infrastructures) Pvt. Ltd., (Formerly knownAs Krishna Enterprises)No.357/9, 2[$5]Floor, MSR Road,Matnikere, |Bengaluru — 560 054. ... Respondent | (By Sri M.Lava, Advocate) These Income Tax Appeals are filed under Section 260-A of|the Income Tax Act, 1961, arising out of order dated 19.10.2012 passed in ITA No.1256/Bang/2010 and ITA No.1372/Bang/2010and.ITANo./73/C-6(1)/CIT(A)-I1/BNG/2009-10.dated19.08.2010 for the Assessment Year 2007-2008 and praying to: (a).Formulate the substantial questions of law statedtherein,therein, 1C2To allow the appeal and set aside the order of theITAT, Bengaluru bearing ITA No.1256/Bang/2010and 1372/Bang/2010 dated 19.10.2012 and order of Commissioner|OT|Income.Tax,(Appeals )-IIIBengaluru dated 19.08.2010 in Appeal No. ITANo./73/C-6(1 )/CIT(A)-I1I/BNG/ 2009-forthe.Assessment Year 200/-O08.ITAT, Bengaluru bearing ITA No.1256/Bang/2010and 1372/Bang/2010 dated 19.10.2012 and order of Commissioner|OT|Income.Tax,(Appeals )-IIIBengaluru dated 19.08.2010 in Appeal No. ITANo./73/C-6(1 )/CIT(A)-I1I/BNG/ 2009-forthe.Assessment Year 200/-O08. 1(2Pass sucn otner suitable orders as this Hon’bie Courtdeems fit to grant on the facts and circumstances otfthe case in the interest of justice and equity.deems fit to grant on the facts and circumstances otfthe case in the interest of justice and equity. Tnese Income Tax Appeals coming on for Final Hearing,|this day,DEVDAS J.,Delivered tne following: JUDGMENT Tne learned counsel for the appellant-Revenue brings to.the notice of this Court a Circular bearing No.17 of 2019 datedO8[/7]August, 2019 wherein the further ennancement of monetary|limit for filing of appeals by the Departments before the Income-Tax Appeliate Tribunals, High Courts and Special LeavePetitions/Appeals before the Supreme Court stands amended,and by the said amendment the earlier monetary limit ofRs.50,00,000/- (Rupees fifty lakh) has not been raised to Rs.1,00,00,000/- (Rupees one crore). The earlier monetary limitwas prescribed as per Circular No.3 of 2018 dated 11[/7]July,2018. In the light of the same, the learned counsel submits that|tnese appeals are not maintainable and in view of the Circular,|tnese appeals may be permitted to be withdrawn. Further, the|jearned counsel would also draw the attention of this Court to Clause 10 of the Circular No.3 of 2018 dated 11[/7]July, 2018wherein certain exceptions are carved out. The learned counselsubmits that at the present stage it may not be possible for himto submit whether the matter falls under any of the exceptions.Therefore, it is prayed that liberty may be reserved to theappellants to move this Court, if it is found that the matter fallswithin the exception carved out in Clause 10 of Circular bearingNumber 3 of 2018. 2. On the query of the Court as to whether the Circular is |applicable to pending matters, the learned counsel draws theattention of this Court to the communication dated 20[/7]AUGUST,2019 made by the Central Board of Direct Taxation to all theChief Commissioners of Income Tax clarifying at paragrapn No.3 that the monetary limit prescribed in Circular No.17 of 2019 isapplicable to all pending Special Leave Petitions, Appeals, CrossObjections and References. 2. On the query of the Court as to whether the Circular is |applicable to pending matters, the learned counsel draws theattention of this Court to the communication dated 20[/7]AUGUST,2019 made by the Central Board of Direct Taxation to all theChief Commissioners of Income Tax clarifying at paragrapn No.3 that the monetary limit prescribed in Circular No.17 of 2019 isapplicable to all pending Special Leave Petitions, Appeals, CrossObjections and References. 3. In view of the above, we permit the appellants to)withdraw these appeals for the reasons stated above. Liberty isalso granted to the appellants to seek revival of these appeals, ifit is found that the matter falls within the exception carved out inClause 10 of Circular bearing No.3 of 2018. BvkK/- SD/-—JUDGE SD/-—JUDGE