Ita/837/2017 Of The Commissioner Of Income Tax v. M/S Shyamaraju & Company

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 29 DAY OF AUGUST, 2019 PRESENT THE HON'BLE MR.JUSTICE L. NARAYANA SWAMY AND THE HON BLE MR.JUSTICE R. DEVDAS| INCOME TAX APPEAL No.837/2017 BETWEEN: 1.THE COMMISSIONER OF INCOME TAX.TDS,TDS, NO.59, HMT BHAVAN, BELLARY ROAD, GANGANAGAR,BENGALURU - 560 032.BENGALURU - 560 032. 2.THE ASSISTANT COMMISSIONER OF INCOME TAX (TDS) CIRCLE-18(2), PRESENT ADDRESSCIRCLE-18(2), PRESENT ADDRESS CIRCLE-3(1), NO.59, HMT BHAVAN, BELLARY ROAD,GANGANAGAR,BENGALURU - 560 032.GANGANAGAR,BENGALURU - 560 032. _. APPELLANTS. (BY SRI K.V. ARAVIND AND SRI DILIP M., ADVOCATES) AND M/S. SHYAMARAJU & COMPANY(INDIA) PVT. LTD.,| DIVYASHREE CHAMBERS,|“A WING, NO.11,. O'SHAUGNESSY ROAD,BENGALURU - 560 025.PAN : AACCS 6562L| ... RESPONDENT (BY SRI M. LAVA, ADVOCATE) THIS ITA IS FILED UNDER SEC.2Z2600-A OF INCOME TACT, 1961, ARISING OUT OF ORDER DATED 16.06.2017 PASSED|IN ITA NO.545/BANG/2014, FOR THE ASSESSMENT YEAR 2002-2003,PRAYING TO)1).FORMULATE|THE|SUBSTANTIAL.QUESTIONS OF LAW STATED ABOVE, ti). ALLOW THE APPEAL.AND SET ASIDE THE ORDERS PASSED BY THE INCOME-TAX|APPELLATE TRIBUNAL, BENGALURU IN ITA NO.545/BANG/2014|DATED 16.06.2017 CONFIRMING THE ORDER OF THE APPELLATE.COMMISSIONER AND CONFIRM THE ORDER PASSED BY THE’ASSISTANT COMMISSIONER OF INCOME TAX (TDS), CIRCLE-3(1), BENGALURU, iii). TO PASS SUCH OTHER SUITABLE.ORDERS AS THIS HON BLE COURT DEEMS FIT TO GRANT IN THE|FACTS AND CIRCUMSTANCES OF THE CASE IN THE INTEREST OF.JUSTICE AND EQUITY. THIS ITA COMING ON FOR FINAL HEARING, THIS DAY,|DEVDAS J., DELIVERED THE FOLLOWING: JUDGMENT The learned counsel for the appellant-Revenue brings totne notice of this Court a Circular bearing No.1/7 of 2019 datedO8[>2]August, 2019 wherein the further ennancement of monetary|limit for filing of appeals by the Departments before the Income-Tax Appeliate Tribunals, High Courts and Special LeavePetitions/Appeals before the Supreme Court stands amended,and py tne said amendment the earlier monetary limit of Rs.50,00,000/- (Rupees fifty lakh) has not been raised toRs.1,00,00,000/- (Rupees one crore). The earlier monetary limitwas prescribed as per Circular No.3 of 2018 dated 11[>2]July,2018. In tne light of the same, the learned counsel submits that|the appeal is not maintainable and in view of the Circular, the|appeal may be permitted to be withdrawn. Further, the learned|counsel would also draw the attention of this Court to Clause 10|of the Circular No.3 of 2018 dated 11[>2]July, 2018 wherein|certain exceptions are carved out. Tne learned counsel submitsthat at the present stage it may not be possible for him tosubmit whether the matter falls under any of the exceptions. |Therefore, it is prayed that liberty may be reserved to theappellants to move this Court, if it is found that the matter fallswithin the exception carved out in Clause 10 of Circular bearingNumber 3 of 2018. 2. On the query of the Court as to whether the Circular isapplicable to pending matters, the learned counsel draws theattention of this Court to the communication dated 20[>2]August,2019 made by the Central Board of Direct Taxation to all tne Chief Commissioners of Income Tax clarifying at paragraph No.3tnat the monetary limit prescribed in Circular No.17 of 2019 isapplicable to all pending Special Leave Petitions, Appeals, CrossObjections and References.| 3. In view of the above, we permit the appellant towithdraw tne appeal for the reasons stated above. Liberty isalso granted to the appellant to seek revival of this appeal, if it isfound tnat the matter falls within the exception carved out inClause 10 of Circular bearing No.3 of 2018. BvkK/- Sd/- JUDGE Sd/-JUDGE