Ita/382/2016 Of The Pr.commissioner Of Income Tax v. M/S Sai Bhagawan Traders

IN THE HIGH COURT OF KARNATAKA AT BENGALURUDATED THIS THE 2/[TH|]DAY OF JANUARY 2071| PRESENT| THE HON’BLE MR. JUSTICE ALOK ARADHE AND| THE HON’‘’BLE MR. JUSTICE NATARAJ RANGASW AILT.A. NO.382 OF 2016 BETWEEN: 1.|THE PR, COMMISSIONER OF INCOME-TAX| 5TH FLOOR, BMTC BUILDING| SO FEET ROAD, KORMANGALA> BANGALORE-560095. 2.|THE INCOME-TAX OFFICER. WARD-1, 2ND FLOOR| BMTC BUILDING, 80 FEET ROAD. KORMANGALA, BANGALORE-560095. (BY MR. K.V. ARAVIND, ADV.,) .... APPELLANTS AND" M/S. SAI BHAGAWAN TRADERSC/O, M/S. CHALLAKERE SOLVENTS &|REFINERY LID.,HOTT EPPANAHALLI VILLAGECHALLAKERE TALUK|CHITRADURGA DISTRICT|PAN: AAYES Q634G. (BY MR. S. ANNAMALAI, ADV., FORMR. M. LAVA, ADV.,) ~. RESPONDENT THIS I.T.A. IS FILED UNDER SEC. J6O0-A OF INCOME TAXACT 1961, ARISING OUT OF ORDER DATED 20.10.2015 PASSED IN ITA NO.16/BANG/2014 FOR THE ASSESSMENT YEAR 2007-08,PRAYING TO: |(i) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW,STATED ABOVE. (ii) ALLOW THE APPEAL AND SET ASIDE THE ORDERS.PASSED BY THE ITAT, BENGALURU IN ITA NO.16/BANG/2014.DATED 20-1L0-20L5 CONFIRMING THE ORDER OF THE APPELLATECOMMISSIONER AND CONFIRM THE ORDER PASSED BY THEINCOME TAX OFFICER, WARD-1, BENGALURU. (iii) PASS SUCH OTHER SUITABLE ORDERS AS THIS)HON BLE COURT DEEMS FIT TO GRANT IN THE FACTS AND|CIRCUMSTANCES OF THE CASE IN THE INTERES! OF JUSTICE.AND EQUITY. THIS I.T.A. COMING ON FOR’ HEARING, THIS’ DAY, |ALOK ARADHE J.,DELIVERED THE FOLLOWING: | JUDGMENT Mr.Dilip Kumar, learned counsel for Mr.K.V.Aravind,| learned counsel for the revenue. Mr.S.Annamalal, }earned counsel for the assessee. ?. Learned counsel for the assessee submits that the|tax effect in this appeal is less than Rs.1 Crore and therefore,the appeal snouid not be entertained at the instance of therevenue in view of the Circular No.17/2019 dated 08.08.2019issued by the Central Board of Direct Taxes. It Is also}submitted that the aforesaid Circular binds the revenue. 3. On the other hand, learned counsel for the revenue.submits that ne be granted liberty to revive the appeal in case the matter falls within the exceptions under theaforesaid Circular dated 08.08.7019. 4. In view of the aforesaid submissions, the appeal isdisposed of with liberty as prayed for by the learned counselfor the revenue. Sd/-JUDGE Sd/-—JUDGE RV