Ita/313/2013 Of The Commissioner Of Income Tax v. Vasavi Shelters

IN THR HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 21 DAY OF SKHPTRBMBER 2016 PRESENT THR HON’BLE MR.JUSTICE JAYANT PATEL AND THR HON’BLE MR.JUSTICK ARAVIND KUMAR| ITA NO.313/2013C/WITA.NO.314/2013 IN ITA NO.313/2013: BETWEEN: 1. THE COMMISSIONER OF INCOME-TAX,C.R.BUILDING,|QUEENS ROAD,BANGALORE. 2. THE INCOME-TAX OFFICER,WARD-4(1),C R BUILDING,QUEENS ROAD,BANGALORE. _. APPBLLANTS (BY SRI.K.V.ARAVIND, ADV. FOR|oORI.G.KAMALADHAR., ADV.) AND: VASAVI SHELIERSNO.174/40, 22 CROSS( ‘F’ MAIN,* BLOCK, JAYANAGAR, BANGALORE — 560 O11. _ RESPONDENT (BY SRIA.SHANKAR & SRI.M.LAVA, ADVOCATES) THIS ITA IS FILED UNDER SEC.260-A OF I.T. ACT,1961, ARISING OUT OF ORDER DATED 22/02/2013|PASSEDIN|ITANO.499 /BANG/2012,FOR,THERASSESSMENT YEAR 2007-08, PRAYING TO FORMULATE|THRSUBSTANTIAL|QUESTIONS|OF|LA WSTATEDTHBRBRBIN AND ALLOW THR APPBAL AND SBT ASIDE THORDEROF|THRITAT,BANGALORE.IN|ITANO.499/BANG/2012 DATED 22/02/2013 AND CONFIRM|THRE ORDER OF THR APPBLLATK COMMISSIONERCONFIRMING THR ORDBR PASSED BY THR INCOME|TAX OFFICER, WARD-4(1), BANGALORE. IN ITA NO.314/2013 BETWEEN: 1. THE COMMISSIONER OF INCOME-TAX,C R BUILDING, ©QUEENS ROAD,BANGALORE. 2. THE INCOME-TAX OFFICER ,WARD-4(1),CR BUILDING ,QUEENS ROAD,BANGALORE. ... APPBLLANTS (BY SRI.K.V.ARAVIND, ADV. FOR|oRI.G.KAMALADHAR, ADV.) AND: VASAVI SHELTERS,NO. 174/40, 22 CROSS,|( ‘FF’ MAIN, |* BLOCK, JAYANAGAR,BANGALORE — 560 O11. _. RESPONDENT (BY SRI.A.SHANKAR & SRI.M.LAVA, ADVOCATES) THIS [TA IS FILED UNDER SEKC.260-A OF INCOMETAX ACT 1961, ARISING OUT OF ORDER DATED|22/02/2013 PASSED IN ITA NO.500/BANG/2012, FOR.THE ASSESSMENT YEAR 2008-2009, PRAYING TO |FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW|STATKD THRRBIN AND ALLOW THR APPBAL AND SKEEASIDE THE ORDER PASSED BY THE ITAT, BANGALORE|IN ITA NO.500/BANG/2012 DATED 22/02/2013, AND)CONFIRMTHE|ORDEROFTH FAPPBRLLATECOMMISSIONBR CONFIRMING THR ORDER PASSED BY!THE INCOME TAX OFFICER, WARD-4(1), BANGALORE. THRSK APPBALS ARE COMING ON FOR HBARING|THIS|DAY,JAYANTPATELJ*)DRBLIVBRHBTHBRKOLLOWING: JUDGMENT When the matter is taken up for hearing, thelearned counsel appearing for the Revenue states thatas per the Circular dated 10.12.2015 issued by theCentral Board of Direct Taxes (‘CBDT” for short), as themonetary limit for pursuing the appeal is raised fromRs.10,00,000/- (Ten Lakhs) to Rs.20,00,000/- (Twentylakhs) for the High Court litigation and same wouldapply to all pending matters and as the subject matterof the present appeal is not exceeding Rs.20 lakhs, hedoes not press the present appeal. Hence, the appeals shall stand disposed of as not pressed. ok/- Sd/-.JUDGE. Sd/-.JUDGE.