Ita/592/2023 Of The Pr Commissioner Of Income Tax v. M/S Hemavathy Power And Light Pvt Ltd

Digitallysigned byNARAYANAUMALocation:HIGH COURTOFKARNATAKA IN THE HIGH COURT OF KARNATAKA AT BENGALURUDATED THIS THE 16 DAY OF DECEMBER, 2024 PRESENT| THE HON'BLE MR JUSTICE V KAMESWAR RAO ANDTHE HON'BLE MR JUSTICE S RACHAIAH |INCOME TAX APPEAL NO. 592 OF 2023 BETWEEN: 1.THE PR. COMMISSIONER OF INCOME TAX.5 FLOOR, BMTC BUILDING, 80 FEET ROAD,KORMANGALA, BENGALURU —- 560 O95.5 FLOOR, BMTC BUILDING, 80 FEET ROAD,KORMANGALA, BENGALURU —- 560 O95. 2D.THE DEPUTY COMMISSIONER OF INCOME-TAXCIRCLE-11(4)/ CIRCLE-3(1)(2)/ CIRCLE-3(1)(3)/ CIRCLE-3(1)(1).PRESENT ADDRESSCIRCLE-11(4)/ CIRCLE-3(1)(2)/ CIRCLE-3(1)(3)/ CIRCLE-3(1)(1).PRESENT ADDRESS DCIT CIRCLE-3(1)(1),2 FLOOR, BMTC BUILDING, |2 FLOOR, BMTC BUILDING, | 8O FEET ROAD, KORMANGALABENGALURU - 560 095..BENGALURU - 560 095.. APPELLANTS (BY SRI. RAVI RAJ, ADVOCATE FOR|SRI. DILIP M, ADVOCATE)SRI. DILIP M, ADVOCATE) AND: M/S. HEMAVATHY POWER AND LIGHT PVT LTD) SUIT NO 701 AND 702, |+ FLOOR, PRESTIGE MERIDIAN IIM.G. ROAD, BENGALURU —- 560 OOL.+ FLOOR, PRESTIGE MERIDIAN IIM.G. ROAD, BENGALURU —- 560 OOL. PAN: AABCH12745E. RESPONDENT (BY SRI. A SHANKAR, SENIOR COUNSEL FORSRI. MADHUSUDHAN A, ADVOCATE)SRI. MADHUSUDHAN A, ADVOCATE) - 2 - NC: 2024:KHC:51751-DBITA No. 592 of 2023 THIS ITA IS FILED UNDER SEC.260-A OF INCOME TAX)ACT 1961, PRAYING TO SET ASIDE THE ORDERS PASSED BY THE INCOME-TAX APPELLATE TRIBUNAL, BENGALURU IN ITANO. 2/718/BANG/2018 DATED 23.06.2022 FOR ASSESSMENTYEAR 2013-2014 ANNEXURE-A AND CONFIRM THE ORDER OF|THE APPELLATE COMMISSIONER CONFIRMING THE ORDER)PASSED BY THE DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE-3(1)(1), BENGALURU. THIS APPEAL, COMING ON FOR ORDERS, THIS DAY,JUDGMENT WAS DELIVERED THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE V KAMESWAR RAO and | HON'BLE MR JUSTICE S RACHAIAH ORAL JUDGMENT (PER: HON'BLE MR JUSTICE V KAMESWAR RAO) 1.|Mr.A.Snankar, learned Senior Counsel appearing forthe respondent states that as the tax effect in this appeal is.less than Rs.2.00 Crores and in view of the circular issued by.the Department of Revenue, Central Board of Direct Taxes.dated 17.09.2024, this appeal shall not be maintainable. 2.Learned counsel for the appellants states that itappears that the issue which arises for consideration shall fall in.the exception carved out in the Circular No.5/2024 dated15.03.2024. He states that the appeal be closed by granting|liperty to the revenue, in the eventuality the appeal falls within. NC: 2024:KHC:51751-DBITA No. 592 of 2023 the exception as carved out in the Circular dated 15.03.2024,the revenue / appellants to revive this appeal. It is ordered.accordingly. Appeal isclosedPending I.A. does not survive for consideration and the.Same Is also disposed of. — UN|List No.: 1 S| No.: 21| Sd/-|(V KAMESWAR RAO).JUDGE| Sd/-|(S RACHAIARH)JUDGE|