Ita/339/2014 Of Commissioner Of Income Tax-Iii v. M/S Prasad Technology

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 28[tn]DAY OF SEPTEMBER 2020. PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND| THE HON’BLE MR. JUSTICE M.I. ARUN. LT.A. NO.339 OF 2014 BEI|WEEN 1.COMMISSIONER OF INCOME TAX-III. C.R. BUILDINGS, QUEENS ROAD| BANGALORE-560001. 2).DEPUTY COMMISSIONER OF INCOME TAX) CIRCLE-12(2), KARNATAKA, BANGALORE.| ... APPELLANTS (BY Mr. E.I. SANMATHI, ADV.) AND" M/S. PRASAD TECHNOLOGY PARK PVT. LTD.NO.2/10, POOJARI LAYOUT., FLOOR, 80 FEET ROAD|RMV II STAGE, BANGALORE-94. ... RESPONDENT (BY Ms. JIMITA CHATTERJEE, ADV., FOR) Mr. S. PARTHASARATHI, ADV.,) THIS IJ§.T.A. IS FILED UNDER SECTION 260-A OI.T.ACT, 1961, ARISING OUT OF ORDER DATED 21-03-2014| PASSED IN ITA NO.303/BANG/2013, FOR THE ASSESSMENTYEAR 2009-10, 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. Il. SET ASIDE THE APPELLATE ORDER DATED 21-03-2014|PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, ‘“B”BENCH, BANGALORE IN APPEAL PROCEEDINGS NO.ITA.NO.303/BANG/2013 FOR ASSESSMENT YEAR 2009-10. THIS I.T.A. COMING ON FOR HEARING, THIS DAY,ALOK ARADHE J.,DELIVERED THE FOLLOWING: JUDGMENT Mr.E.I.Sanmathi, learned counsel for the revenue. Smt.Prathiba, learned counsel for the assessee has| entered appearance through video conferencing. ?. 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 ofthe Circular No.1/7/2019 dated 08.08.2019 issued by the Central 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 counse|l for the revenue RV| Sd/-JUDGE Sd/-"JUDGE