Ita/380/2013 Of The Commissioner Of Income Tax v. M/S Agnus Holdins Pvt Ltd

IN THE HIGH COURT OF KARNATAKA AT BENGALURUDATED THIS THE 1 DAY OF OCTOBER 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND| THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD LT.A. NO.380 OF 2013 BEI|WEEN 1.THE COMMISSIONER OF INCOME-TAX C.R. BUILDING, QUEENS ROAD BANGALORE. 2).THE DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE-11(1), RASHTROTHANA BHAVANNRUPATHUNGA ROAD, BANGALORE.|NRUPATHUNGA ROAD, BANGALORE.| ... APPELLANTS (BY Mr. K.V. ARAVIND, ADV.,) AND M/S. AGNUS HOLDINGS PVT. LTD.,STAR II, OPP: IIMB, BILEKAHALLIBANNERGHATTA MAIN ROADBANGALORE-5600 /6. ~.. RESPONDENT| (BY Ms. PRATHIBHA R, 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 28-03-2013| PASSED IN ITA NO.941/BANG/2011, FOR THE ASSESSMENTYEAR 2007-08, PRAYING TO: I. FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW|STATED THEREIN.» I]. ALLOW THE APPEAL AND SET ASIDE THE ORDER PASSEDBY THE ITAT, BANGALORE IN ITA NO.941/BANG/2011—DATED 28-03-2013 CONFIRMING THE ORDER OF THE!APPELLATE COMMISSIONER AND CONFIRM THE ORDER!PASSED BY THE DEPUTY COMMISSIONER OF INCOME TAX,|CIRCLE-11(1), BANGALORE. THIS I.T.A. COMING ON FOR FINAL HEARING, THISDAY,ALOK ARADHE J.,DELIVERED THE FOLLOWING: JUDGMENT Mr.K.V.Aravind, learned counsel for the revenue. Smt.PrathibaR.,|jiearnedcounsel]for Mr.S.Parthasarathi, learned counsel for the assessee. 2. Learned counsel! for the assessee submits tnatthe 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 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 counse|l for the revenue RV| Sd/-JUDGESd/-JUDGE