Ita/3/2014 Of Commissioner Of Income Tax v. M/S Shriram Chits

IN THE HIGH COURT OF KARNATAKA AT BENGALURUDATED THIS THE 5 DAY OF OCTOBER 2020| PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND| THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD ILT.A. NO.3 OF 2014 BEI|WEEN 1.COMMISSIONER OF INCOME TAX) C.R. BUILDINGS, QUEENS ROAD| BENGALURU, 2).ASSISTANT COMMISSIONER OF INCOME-TAX. CIRCLE-12(3), BENGALURU. ... APPELLANTS (BY SRI. E.I1. SANMATHI, ADV.) AND" M/S. SHRIRAM CHITS (KARNATAKA) PVT. LTD., NO.259/31, 1 FLOOR, 10 CROSSWILSON GARDEN, BANGALORE-560027. ~.. RESPONDENT| (BY SRI. BALRAM R. RAO, ADV.,). THIS IJ§.T.A. IS FILED UNDER SECTION 260-A OI.L.T.ACT, 1961, ARISING OUT OF ORDER DATED 14-08-201PASSED IN ITA NO.1315/BANG/2012 AND 1282/BANG/2012,.FOR THE ASSESSMENT YEAR 2008-09, PRAYING TO: I. DECIDE THE FOREGOING QUESTION OF LAW AND/OR|SUCH OTHER QUESTIONS OF LAW AS MAY BE FORMULATED|BY THE HON’BLE COURT AS DEEMED FIT. II. SET ASIDE THE APPELLATE ORDER DATED 14-08-2013|PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, “B™BENCH, BANGALORE, IN APPEAL PROCEEDINGS NO.ITA|NO.1315/BANG/2012 AND ITA NO.1282/BANG/2012 FOR)THE ASSESSMENT PERIOD 2008-09 AS SOUGHT FOR IN!THIS APPEAL; AND TO GRANT SUCH OTHER RELIEF AS|DEEMED FIT. THIS I.T.A. COMING ON FOR FINAL HEARING, THISDAY,ALOK ARADHE J.,DELIVERED THE FOLLOWING: JUDGMENT Mr.E.I.Sanmathi, learned counsel for the revenue. Mr.Balram R.Rao, learned counsel for the assessee. ?. Learned counsel! for the assessee submits thatthe tax effect in this appeal is less than41 Crore andtherefore, the appeal may not be maintainable in view oftne Circular No.17/2019 dated 08.08.2019 issued by theCentral Board of Direct Taxes. 3. On the other hand, learned counsel for therevenue submits that he be granted liberty to revive the appeal in case the matter falls within the exceptionsunder the aforesaid Circular dated 08.08.2019. 4. In view of the aforesaid submissions, the appeal is disposed of with liberty as prayed for by the learned counsel! for the revenue. RV| Sd/-JUDGE Sd/-JUDGE