Ita/290/2012 Of Commissioner Of Income Tax -Iii v. M/S Sterling Developers Pvt Ltd

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 28 DAY OF AUGUST, 2019 PRESENT THE HON'BLE MR.JUSTICE L. NARAYANA SWAMY AND THE HON’ BLE MR.JUSTICE R. DEVDASINCOME TAX APPEAL No.290/2012 BETWEEN: 1.|COMMISSIONER OF INCOME TAX -III|REVENUE BUILDINGS, QUEENS ROAD|BANGALORE-560001_REVENUE BUILDINGS, QUEENS ROAD|BANGALORE-560001_ 2 |THE ASSISTANT COMMISSIONER OFINCOME TAX, CENTRAL CIRCLE 12(3)BANGALORE |... APPELLANTS (BY SRI E.R.INDRAKUMAR, SENIOR COUNSEL FOR SRI E.I.SANMATHI,ADV.) AND: M/S STERLING DEVELOPERS PVT LTDNO.401/A, QUEENS CORNER, BANGALORE ... RESPONDENT (BY SRI VIVEK HOLLA, ADV.) THIS ITA IS FILED UNDER SECTION 260-A OF I.T. ACT, 1961,|ARISING OUT OF ORDER DATED 20/04/2012 PASSED IN ITA’NO.1503/BANG/2010,FOR.THE|ASSESSMENTYEAR|2006-0,PRAYING TO: I. FORMULATE THE SUBSTANTIAL QUESTION OF LAW|STATED THEREIN, Il. SET ASIDE THE COMMON APPELLATE ORDER_ DATED 20/04/2012 PASSED BY THE ITAT, B BENCH, BANGALORE, IN|APPEAL PROCEEDINGS ITA NO.1503/BANG/2010 AS SOUGHT FOR IN-THIS APPEAL. THIS ITA COMING ON FOR ORDERS, THIS DAY,DEVDAS JiDELIVERED THE FOLLOWING: JUDGMENT The learned counsel for the appellant-Revenue brings totne notice of this Court a Circular bearing No.1/7 of 2019 datedO8[:.]August, 2019 wherein the further enhancement 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 toRs.1,00,00,000/- (Rupees one crore). The earlier monetary limitwas prescribed as per Circular No.3 of 2018 dated 11[:.]July,2018. In the light of the same, the learned counsel submits that|tne appeal is not maintainable and in view of the Circular, the|appeal may be permitted to be withdrawn. Further, the learned|counsel would also draw the attention of this Court to Clause 10|of the Circular No.3 of 2018 dated 11[:.]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.Tnerefore, 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 wnether the Circular is |applicable to pending matters, the learned counsel draws theattention of this Court to the communication dated 20[:.]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 the appeal for the reasons stated above. Liberty isalso granted to the appellant to seek revival of this appeal, if it is 96734�:.1:�:./�A1::/2�91008�@>:.>3�:./�/C5/;:>63�512</4�67:�>3� �0178/����69��>257012�=/12>3?��6�(�69������� 033� ����������������������