Ita/826/2009 Of The Commissioner Of Income Tax v. M/S.m N Rama Rao & Co

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.826/2009 C/W ITA NO.827/2009 BETWEEN: 1. THE COMMISSIONER OF INCOME TAX,|99/1, SHILPASHREE,|99/1, SHILPASHREE,| VIDYARANYA COMPLEX,| VISHVESHWARANAGAR,| MYSORE — 570 OO8. 2. THE ASST. COMMISSIONER OF INCOME TAX,| CIRCLE— 2 (1),| BANGALORE. ... APPELLANTS| (COMMON) | (BY SRI.K.V.ARAVIND & MS.PREETHI.J.D-— ADVs) AND M/S M.N.RAMA RAO & CO.,NO.18, VICTORIA ROAD, VIVEK NAGAR, BANGALORE. .. RESPONDENT (COMMON) (BY SRI.A.SHANKAR & SRI.M.LAVA- ADVs)| THESE JITAs ARE FILED UNDER SECTION 260A OFINCOME TAX ACT, 1961, PRAYING TO SET ASIDE THE ORDERS—PASSED BY THE ITAT, BANGALORE IN ITA Nos.992/BNG/2008AND 991/BNG/2008 RESPECTIVELY DATED: 24.7.2009, ETC. VINEET SARAN J..DELIVERED THE FOLLOWING: THESE ITAs COMING ON FOR HEARING THIS DAY, JUDGMENT Learned counsel for the appellants-Revenue hasplaced 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 beenclarified that the same will apply retrospectively to pending|appeals 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 appeals is below the|specified limit of Rs.20 lacs. 3.Accordingly, in view of the Circular No.21/2015dated 10.12.2015, the tax effect in these appeals being less|than Rs.20 lacs, the appeals standdismissed. TL Sd/- |JUDGE| Sd/-. JUDGE|