Ita/147/2009 Of The Commissioner Of Income Tax v. Ms Deepa S Pai

IN THE HIGH COURT OF KARNATAKA AT BENGALURUDATED THIS THE 20 DAY OF JANUARY 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND| THE HON’BLE MR. JUSTICE RAVI V.HOSMANL1LT.A. NO.147 OF 2009 BEI|WEEN 1.THE COMMISSIONER OF INCOME TAX. C.R. BUILDING, ATTAVARA MANGALORE. 2).THE DEPUTY COMMISSIONER OF INCOME TAX. CIRCLE-1, UDUPI. ... APPELLANTS (By Sri. E.I. SANMATHI, ADV.) AND" MS. DEEPA S. PAL|NO.5, CHITRAKALA’™ANANTHANAGAR_MANIPAL-5 /6104. ... RESPONDENT (By Sri. S. PARTHASARATHI, ADV.)| THIS I.7.A. IS FILED UNDER SECTION 260-A OF I.I.ACT, 1961 ARISING OUT OF ORDER DATED 24-11-2008|PASSED IN ITA NO.334/BNG/2008, FOR THE ASSESSMENTYEAR 2004-05, PRAYING TO FORMULATE THE SUBSTANTIAL|QUESTIONS OF LAW STATED THEREIN. ALLOW THE APPEAL| AND SET ASIDE THE ORDER PASSED BY THE [TAT|BANGALORE BENCH ‘A’ IN ITA NO.334/BNG/2008, DATED.24-11-2008 CONFIRM THE ORDERS OF THE APPELLATE|COMMISSIONER AND CONFIRM THE ORDER PASSED BY THE!ASSESSING OFFICER IN THE INTEREST OF JUSTICE AND|EQUITY. THIS I.7T.A. COMING ON FOR HEARING, THIS DAY,ALOK ARADHE J.,DELIVERED THE FOLLOWING: JUDGMENT Mr.E.I.Sanmathi, learned counsel for appellants. Mr.S.Parthasarathi,learned|counsel|for.therespondent. 2. This appeal under Section 260-A of the Income|Tax Act, 1961 (hereinafter referred to as ‘the Act’, forsnort) nas been filed by the assessee. 3. After hearing the learned counsel for the parties, it is evident that the amount involved in this appeal is=90,57,063/- which is below the monetary limit of=1.Crore. 4. At this stage, learned counsel for the revenue|nas filed a memo in wnichn it is stated tnat if the notional tax effect for future years on the basis of the orderpassed by the Income Tax Appellate Tribunal is takeninto consideration, the amount is more than 41 Crore. 5. However, as per the circular dated 08.08.2019,|the notational tax effect is not required to be taken intoaccount. Therefore, the aforesaid memo of calculation isof no assistance to the revenue in this appeal. 6. In the result, we hold that this appeal is not)maintainabie In|VIEWoftne|instructionsdated08.08.2019 issued by the Central Board of Direct TaxesAccordingly, the appeal is dismissed as_ notmaintainable. RV| Sd/-JUDGE Sd/-|JUDGE