Ita/116/2014 Of The Commissioner Of Income-Tax v. M/S. Sir.m.visveshwaraya Co-Operative Bank Ltd

IN THE HIGH COURT OF KARNATAKA AT BBNGALURU DATBD THIS THR 17 DAY OF DECEMBER, 20109 PRESENT THR HON'BLE MR. JUSTICK VINEBT SARAN| AND THR HON’BLE MRS. JUSTICK S.SUJATHA ITA No. 116/2014 1. THE COMMISSIONER OF INCOME-ITAX C.R.BUILDING, QUEENS ROAD, BANGALORE. 2. THE ASST. COMMISSIONER OF | INCOME TAX, CIRCLE-3(1), C.R.BUILDING, QUEENS ROAD, BANGALORE. | _ APPBRLLANTS) (BY SRI.G. KAMALADHAR-ADV)| AND M/s SIR. M.VISVESHWARAYA |CO-OPERATIVE BANK LTD.,.# 109, CORPORATE OFFICE,SHANKARAMUTT ROAD,|SHANKARAPURAM,|BANGALORE -560 O04.—. RESPONDENT (BY SRI. S. PARTHASARATHI & JINITA CHATTERJEE-ADVs) THIS ITA IS FILED UNDER SECTION Q6O0A OF INCOMETAX ACT, 1961, PRAYING TO SET ASIDE THE ORDERS PASSEDBY THE ITAT, BANGALORE IN ITA NO.1693/BANG/2013 DATED:20.10.2013, ETC. THIS ITA COMING ON FOR HEARING THIS DAY, |VINEET SARAN J..DELIVERED THE FOLLOWING: JUDGMENT Learned counsel for the appellants-Revenue hasplaced before us a recent Circular No.21/2015 dated|10.12.2015, issued by the Central Board of Direct taxes,wherein the monetary limit of the tax eftect for filing appealsbefore the High Court has been enhanced from Rs.10 lacs to |Rs.20 lacs. In paragraph-10 of the said Circular, it has beenclarified that the same will apply retrospectively to pending|appeals also, which, if below the specified tax limits, may bewithdrawn/not pressed. 2.Learned counsel for the appellants has stated|that the tax effect in the present appeal is below the specifiedlimit of Rs.20 lacs. 3.Accordingly, in view of the Circular No.21/2015dated 10.12.2015, the tax effect in this appeal being less|than Rs.20 lacs, the appeal standsdismissed. TTL Sd/-. JUDGE| Sd/-. JUDGE|