Otcommissioner Of Income Tax v. Ranka And

IN THB HIGH COURT OF KARNATAKA AT BANGALORE DATED THIS THE 23 DAY OF JUNE, 2014. PRESENT THR HON’BLE MR.JUSTICK N. KUMAR AN D THR HON’BLE MR.JUSTICEK B.MANOHAR INCOME TAX APPBKEAL NO.613 YAOVS BBRITIWE 1. THR COMMISSIONER OF INCOME TAX C.R.BUILDING QUEENS ROAD.BANGALOREBANGALORE ”.2. THRE ASSISTANT COMMISSION OF INCOME TAX. CIRCLE -1 (1)| C.R.BUILDING QUEENS ROAD BANGALORE ... APPBKRLLANTS (BY SRI.K.V.ARAVIND, ADVOCATE) ANT) SHRI GHANASHYAM GUPIA.NO.26, R.V.LAYOUT, 2 KLOORKUMARAPARK (WEST)BANGALORE - 20,.. RESPONDENT (BY SRI.V.JAVAHAR, ADVOCATE) THIS INCOMB TAX APPKAL [IS FILED UNDERSECTION 260-A OF INCOME TAX ACT, 1961 ARISING OUT)OF|ORDERDATED|1.12.2007PASSEDIN-IT(SS)ANO.18/BANG/2006, FOR THE BLOCK ASSESSMENT YEAR|1988-89 TO 1998-99, PRAYING TO FORMULATE THE|SUBSTANTIAL QUESTIONS OF LAW STATED THEREIN ANDTO ALLOW THR APPBAL AND SBT ASIDB THR ORDERS|PASSEDBY|THBKITAT,|BANGALORE,IN-IT(SS)ANO.18/BANG/2006 DATED 7.12.2007 AND CONFIRM THE|ORDEROF|THRAPPBRLLATECOMMISSION BRANDCONFIRMING THR ORDER PASSKD BY THE ASSISTANT|COMMISSIONBROF|INCOMETAX,|CIRCLE.1(1),|BANGALORE. THIS APPEAL COMING ON FOR HEARING THIS DAY,N.KUMAR J., DELIVERED THE FOLLOWING:-. JUDGMENT It is reported that the respondent is dead. 2.|The net tax effect in this appeal is less than Rs.10lakh. In view of the judgment of this Court in the case oT|COMMISSIONER OF INCOME TAX vs. RANKA AND RANKAreported in)(2013) 352 ITR 121 (KAR), whereinthis Court held that the benefit granted underInstructions 3/11 is prospective in nature, this appealis not maintainable. However, liberty is reserved to the Revenue to seek for revive of this appeal, in the event ofApex Court taking contrary view to the view taken bythis Court. Liberty is also reserved to the Revenue tobring the legal representatives of the deceased assesseeon record in such event. Accordingly, appeal is dismissed. _ AHB Sd/-JUDGESd/-JUDGE