Ita/158/2010 Of The Commissioner Of Income Tax v. Deepak Cables (I) Ltd

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 No.158/2010 BETWEEN: 1.THE COMMISSIONER OF INCOME-TAX, |C.R. BUILDING, QUEENS ROAD,BANGALORE. 2).Tne DEPUTY COMMISSIONER OF INCOME-TAX,CENTRAL CIRCLE-2(1),C.R. BUILDING,QUEENS ROAD,BANGALORE. APPELLANTS (BY SRI. ARAVIND K.V. AND SRI DILIP M., ADVOCATES) AND: DEEPAK CABLES (I) LTD.,NO.313, EMBASSY CENTRE,( FLOOR, CRESCENT ROAD,BANGALORE. ... RESPONDENT (BY S.R. ANURADHA, ADVOCATE) THIS INCOME TAX APPEAL IS. FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDERDATED 27.11.2009 PASSED IN ITA NO.690/BNG/2008, FOR THEASSESSMENT YEAR 2002-2003, PRAYING TO: I. FORMULATETHE SUBSTANTIAL QUESTIONS OF LAW STATED THEREIN; |I]. ALLOW THE APPEAL AND SET ASIDE THE ORDER PASSED BYTHE INCOME-TAX APPELLATE TRIBUNAL, BANGALORE IN ITANO. 690/BANG/2008 DATED 27.11.2009 CONFIRMING THEORDER OF THE APPELLATE COMMISSIONER AND CONFIRM THEORDER PASSED BY THE DEPUTY COMMISSIONER OF [NCOMETAX, CENTRAL CIRCLE-2(1), BANGALORE. THIS ITA COMING ON FOR FINAL HEARING, THIS DAY, DEVDAS J., DELIVERED THE FOLLOWING: JUDGMENT Tne learned counsel for the appellant-Revenue brings to.the notice of this Court a Circular bearing No.17 of 2019 datedO8[9#]August, 2019 wherein the further ennancement of monetary|limit for filing of appeals by the Departments before the Income-Tax Appellate 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 toRs.1,00,00,000/- (Rupees one crore). The earlier monetary limitwas prescribed as per Circular No.3 of 2018 dated 11[9#]July,2018. In the light of the same, the learned counsel submits that| the appeal is not maintainable and in view of the Circular, theappeal may be permitted to be withdrawn. Further, the learnedcounsel would also draw the attention of this Court to Clause 10of the Circular No.3 of 2018 dated 11[9#]July, 2018 wherein|certain exceptions are carved out. Tne learned counsel submitstnat at the present stage it may not be possible for nim tosubmit 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 isapplicable to pending matters, the learned counsel draws theattention of this Court to the communication dated 20[9#]August,2019 made by the Central Board of Direct Taxation to all theChief Commissioners of Income Tax clarifying at paragraph No.3that the monetary limit prescribed in Circular No.1/7 of 2019 isapplicable to all pending Special Leave Petitions, Appeals, CrossObjections and References.| 3. In view of the above, we permit the appellant towithdraw tne appeal for the reasons stated above. Liberty isalso granted to the appellant to seek revival of this appeal, if it isfound tnat the matter falls within the exception carved out inClause 10 of Circular bearing No.3 of 2018. BvkK/- Sd/-—JUDGE Sd/-—JUDGE