Ita/73/2012 Of The Commissioner Of Income Tax v. M/S. First India Corporation
High Court
17 Dec 2015 In favour of: Assessee
Forum / Bench
High Court · karnataka_bng_old
Parties
Ita/73/2012 Of The Commissioner Of Income Tax v. M/S. First India Corporation
Date of order
17 Dec 2015
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Ita/73/2012 Of The Commissioner Of Income Tax v. M/S. First India Corporation, the High Court (2015) dismissed the appeal. The decision went in favour of the assessee.
Decision: 3.Accordingly, in view of the Circular No.21/2015dated 10.12.2015, the tax effect in this appeal being less|than Rs.20 lacs, the appeal stands—dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
IN THE HIGH COURT OF KARNATAKA AT BBNGALURU
DATBD THIS THR 17 DAY OF DECEMBER, 20109
PRESENT
THR HON'BLE MR. JUSTICK VINEBT SARAN|
AND
THR HON’BLE MRS. JUSTICK S.SUJATHA
ITA No. 73/2012
1. THE COMMISSIONER OF INCOME TAX.
C.R.BUILDING, QUEENS ROAD, ©
BANGALORE.
2. THERE DEPUTY COMMISSIONER OF
INCOME TAX, CIRCLE 11(3),
BANGALORE.
. APPHLLANTS >
(BY SRI. K.V. ARAVIND & MS. PREETHI.J.D.-ADVs)
AND
M/S FIRST INDIA CORPORATION, |5 FLOOR, BLOCK ‘A’ LAKEVIEW,BAGAMANE TECH PARK,C.V.RAMAN NAGAR,BANGALORE -560 093.—. RESPONDENT
(BY SRI. T. SURYANARAYANA FOR KING & PARTRIDGE-ADV)
THIS ITA IS FILED UNDER SBCTION QJ6O0A OF INCOMTAX ACT, 1961, PRAYING TO SET ASIDE THE ORDER DATED:12.12.2011 PASSED BY THE ITAT, BANGALORE IN ITA!NO.1441/BANG/2010, ETC.
THIS ITA COMING ON FOR HEARING THIS DAY, |VINEET SARAN J..DELIVERED THE FOLLOWING:
JUDGMENT
Learned counsel for the appellants-Revenue has/placed before us a recent Circular No.21/2015 dated|10.12.2015, issued by the Central Board of Direct taxes,|wherein the monetary limit of the tax eftect for filing appealsbefore the High Court has been enhanced from Rs.10 lacs to |Rs.20 lacs.
In paragraph-10 of the said Circular, it has been)clarified that the same will apply retrospectively to pendingappeals also, which, if below the specified tax limits, may bewithdrawn/not pressed.
2.Learned counsel for the appellants has stated|that the tax effect in the present appeal is below the specifiedlimit of Rs.20 lacs.
3.Accordingly, in view of the Circular No.21/2015dated 10.12.2015, the tax effect in this appeal being less|than Rs.20 lacs, the appeal stands—dismissed.
TTL
Sd/- |JUDGE|
Sd/-.
JUDGE|
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