Ita/438/2014 Of The Commissioner Of Income-Tax v. M/S Biocon Ltd

IN THE HIGH COURT OF KARNATAKA AT BENGALURUDATED THIS THE 19 DAY OF OCTOBER 272020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND| THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASADILT.A. NO.438 OF 2014 BEITWEEN 1.THE COMMISSIONER OF INCOME-TAX. LTU, JSS TOWERS BSK III STAGE, BANGALORE. 2D.THE DEPUTY COMMISSIONER OF INCOME-TAX LTU, JSS TOWERS BSK III STAGE, BANGALORE-560085.... APPELLANTS... APPELLANTS (BY Mr. K.V. ARAVIND, ADV.) AND M/S. BIOCON LTD.,.J2OTH KM HOSUR ROADFELECTRONIC CITY HEBBAGODI, BANGALORE-560100. | ... RESPONDENT (BY Ms. MANASA ANANTHAN, FOR) Mr. T. SURYANARAYANA, ADV.) | THIS I.T.A. IS. FILED UNDER SECTION 260-A OFI.T.ACT, 1961, ARISING OUT OF ORDER DATED 30-04-2014 PASSED IN ITA NO.371/BANG/2010, FOR THE ASSESSMENTYEAR 2006-07, PRAYING TO: I. FORMULATE THE SUBSTANTIAL QUESTIONS OF LAWSTATED ABOVE. I] ALLOW THE APPEAL AND SET ASIDE THE ORDERS|PASSED|BY|THE|ITAT, BANGALOREIN|ITANO.3/71/BANG/2010 DATED 30-04-2014 AND CONFIRM THEORDER OF THE APPELLATE COMMISSIONER CONFIRMINGTHE ORDER PASSED BY THE DEPUTY COMMISSIONER OFINCOME TAX, LTU, CIRCLE-11(2), BANGALORE. THIS I.T.A. COMING ON FOR HEARING, THIS DAY,|ALOK ARADHE J.,DELIVERED THE FOLLOWING: JUDGMENT Mr.K.V.Aravind, learned counsel for the revenue|has entered appearance through video conferencing. Smt.ManasaAnanthan,learnedcounsel forMr.1.Suryanarayana, learned counsel for the assessee. 2. Learned counsel for the assessee submits thatthe tax effect in this appeal is less than Rs.1 Crore andtherefore, the appeal should not be entertained at theinstance of the revenue in view of the Circular.No.17/2019 dated 08.08.2019 issued by the CentralBoard 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 he be granted liberty to revive theappeal in case the matter falls within the exceptions.under the aforesaid Circular dated 08.08.2019. 4. In view of the aforesaid submissions, the appealis disposed of with liberty as prayed for by the learnedcounsel for the revenue. Sd/-JUDGE Sd/-'JUDGE RV