Ita/596/2013 Of The Commissioner Of Income Tax v. M/S. Saptharshi Credit Cooperative Society Ltd

IN THR HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 21 DAY OF SKHPTRBMBER 2016 PRESENT THR HON’BLE MR.JUSTICE JAYANT PATEL AND THR HON’BLE MR.JUSTICK ARAVIND KUMAR| ITA NO.596/2013 BETWEEN: 1. THE COMMISSIONER OF INCOME-TAX, |C R BUILDING, QUEENS ROAD,BANGALORE. | 2. LHE INCOME-TAX OFFICER, |WARD-3(1),.C R BUILDING, QUEENS ROAD,BANGALORE.|_. APPELLANTS (BY SRI.K.V.ARAVIND, ADV. FOR|oRI.G.KAMALADHAR, ADV.) AND: M/S. SAPTHARSHI CREDIT CO-OPERATIVESOCIETY LTD, 6/1, MALLIKARJUNA TEMPLE STREET, DVG ROAD, BASAVANAGUDI,BANGALORE - 560 OO4. _ RESPONDENT (RESPONDENT SERVED) THIS JTA IS FILED UNDER SEC.260-A OFINCOME TAX ACT 1961, ARISING OUT OF ORDER)DATED)13/06/2013PASSEDIN|ITANO.1662/BANG/2012, FOR THE ASSESSMENT YEAR2009-10,PRAYINGTO.RFORMULATETHERSUBSTANTIAL QUESTIONS OF LAW STATED THEREIN|AND ALLOW THR APPKAL AND SKIT ASIDB THE:ORDER DATED 13/06/2013 PASSED BY THE ITAT,BANGALOREIN|ITANO.1662/BANG/2012CONFIRMINGTH EORDERORTHEAPPBRLLATECOMMISSIONER AND CONFIRM THE ORDER PASSED|BYTHEINCOMETAX|OFFICER,WARD-3(1),BANGALORE.| THIS APPKBAL COMING ON FOR HBARING THISDAY,JAYANT PATEL J., DELIVERED THE FOLLOWING: JUDGMBNT When the matter is taken up for hearing, thelearned counsel appearing for the Revenue states thatas per the Circular dated 10.12.2015 issued by theCentral Board of Direct Taxes (‘CBDT” for short), as themonetary limit for pursuing the appeal is raised from Rs.10,00,000/- (Ten Lakhs) to Rs.20,00,000/- (Twentylakhs) for the High Court litigation and same wouldapply to all pending matters and as the subject matterof the present appeal is not exceeding Rs.20 lakhs, hedoes not press the present appeal. | Hence, the appeal shall stand disposed of as notpressed. ok/- Sd/-.JUDGE| Sd/-.JUDGE|