Ita/35/2013 Of Commissioner Of Income Tax v. The Bhatkal Urban Co-Operative Bank Ltd
High Court
17 Dec 2015 In favour of: Assessee
Forum / Bench
High Court · karnataka_bng_old
Parties
Ita/35/2013 Of Commissioner Of Income Tax v. The Bhatkal Urban Co-Operative Bank Ltd
Date of order
17 Dec 2015
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Ita/35/2013 Of Commissioner Of Income Tax v. The Bhatkal Urban Co-Operative Bank Ltd, the High Court (2015) dismissed the appeal. The decision went in favour of the assessee.
Decision: 3.Accordingly, in view of the Circular No.21/2015dated 10.12.2015, the tax effect in this appeal being less|than Rs.20 lacs, the appeal stands—dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
IN THE HIGH COURT OF KARNATAKA AT BBNGALURU
DATBD THIS THR 17 DAY OF DECEMBER, 20109
PRESENT
THR HON'BLE MR. JUSTICK VINEBT SARAN|
AND
THR HON’BLE MRS. JUSTICK S.SUJATHA
ITA No. 35/2013
1. COMMISSIONER OF INCOME TAX,
MANGALORE.
2. DEPUTY COMMISSIONER OFINCOME TAX, CIRCLE-1,UDUPI.
. APPHLLANTS >
(BY SRI. E.I. SANMATHI-ADV)
AND
THER BHATKAL URBAN CO-OPERATIVE BANK LTD.,P.B.NO.15, 66/1, URBAN BANK BUILDING, MAIN ROAD,BHAITKAL-581 320.~ RESPONDENT(BY SRI. B.G. CHIDANANDA URS-ADV)
THIS TTA IS FILED UNDER SECTION JoOA OF [INCOME|TAX ACT, 1961, PRAYING TO MODIFY THE APPELLATE ORDERDATED: 12.10.2012 PASSED BY THE ITAT, ‘A’ BENCH,BANGALORE,LN|APPEALPROCBHDINGSITA|NO.929/BANG/2011 DATED 12.10.2012, ETC.THIS ITA COMING ON FOR HEARING THIS DAY,VINEET SARAN J..DELIVERED THE FOLLOWING:
JUDGMENT
Learned counsel for the appellants-Revenue has/placed before us a recent Circular No.21/2015 dated|10.12.2015, issued by the Central Board of Direct taxes,|wherein the monetary limit of the tax eftect for filing appealsbefore the High Court has been enhanced from Rs.10 lacs to |Rs.20 lacs.
In paragraph-10 of the said Circular, it has been)clarified that the same will apply retrospectively to pendingappeals also, which, if below the specified tax limits, may bewithdrawn/not pressed.
2.Learned counsel for the appellants has stated|that the tax effect in the present appeal is below the specifiedlimit of Rs.20 lacs.
3.Accordingly, in view of the Circular No.21/2015dated 10.12.2015, the tax effect in this appeal being less|than Rs.20 lacs, the appeal stands—dismissed.
TL
Sd/- |
JUDGE|
Sd/-.
JUDGE|
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