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 ANI THE HON’BLE MR. JUSTICE RAVI MALIMATH R.P. No. 331 of 2012 IN ITA No. 929 ot 2007 BETWEEN: 1.The Commissioner ot Income TaxC.R. BuildingAttavaraC.R. BuildingAttavara Mangalore ooThe Deputy Commissioner ofIncome TaxIncome Tax Central Circle Mangalore _.. Petition (By Sri K.V. Aravind, Advocate) AND: M/s. Praveen Auto Fin Pvt. Ltd.,Ganesh Complex Darbe, PutturD.K. 574 202. ... Respond This Review Petition is filed under Order 47 Rule 1 and 2of CPC praying for review of the order dated 20-03-2012 passedin ITA No. 929 of 2007, 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 20.3.2012 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. 3191/2005)disposed of on92,11.2011 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 therefore they submit 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 &>(