Order v. M/Sranka And Ranka, Ita

IN THE HIGH COURT OF KARNATAKA AT BANGALORE Dated this the 22[nd]day of June, 2012 PRESENT THE HON’BLE MR. JUSTICE N KUMAR ANT THE HON’BLE MR. JUSTICE RAVI MALIMATH BBRITIWE RP No. 118 of 2012 IN ITA No. 270 of 2010 1.Commissioner ot Income Tax-Ill Central Revenue Buildings Queens Road Bangalore 2.The Income Tax Officer Ward-1, Udupi...Petitione (By Sri E. R. Indrakumar tor sri E. I. Sanmathi, Advocates) AND: M/s. Famous Commercial Complex Near City B Stand Udupi ... Respond This Review Petition is filed under Order 4/7 Rule 1 and of CPC praying for review of the order dated 02-11-2011 in ITANo.270/2010, on the file of the Hon’ble High Court ofKarnataka, Bangalore. This Review Petition coming on for orders this day,N KUMARJ>made the following:- ORDER The Revenue is seeking to review the order passed by thisCourt on 2.11.2011 whereunder this Court dismissed theappeal on the ground that the net tax effect which is thesubject matter of the appeal was less than Rs.10,00,000/-, byfollowing the judgment of this Court in the case of,THECOMMISSIONER OF INCOME TAX AND ANOTHER vs M/SRANKA AND RANKA, ITA No. 3191/2005disposed of on2,11.201 1 2. It is submitted that the revenue is preferring anappeal against the order passed by this Court holding that theinstruction No. 3/2011 is retrospective in nature and thereforethey s ubmit that this petition has to await the decision of theApex Court in the aforesaid appeal to be filed. 3. On that ground it is not possible to keep this matterpending. All that we can do is, as the appeal is dismissedfollowing the judgment in the aforesaid case of M/s. Ranka andRanka, in the event of the Apex Court setting aside the saidorder and holding it as prospective, then it is open to therevenue to seek for review of the order. Reserving such liberty,this petition is dismissed. Sd/-JUDGE Sd/-JUDGE