Rp/199/2016 Of The Director Of Income Tax v. M/S Informatica Business

IN THR HIGH COURT OF KARNATAKA AT BENGALURU DATEKD THIS THR 1 DAY OF FEBRUARY 2017 PRESENT THR HON’BLE MR.JUSTICE JAYANT PATEL AND THR HON’BLE MRS..JUSTICEHK S SUJAT REVIEW PETITION NO.199/2016INITA NO.180/2012 BETWEEN: 1.THR DIRBCTOR OF [INCOMBE-TAXINTERNATIONAL TAXATION,RASHTROTHANA BHAVAN,NRUPATHUNGA ROADBANGALORE|INTERNATIONAL TAXATION,RASHTROTHANA BHAVAN,NRUPATHUNGA ROADBANGALORE| 2.THR DEPUTY DIRECTOR OF [INCOME-TAXINTERNATIONAL TAXATION,INTERNATIONAL TAXATION, CIRCLE-I(1),RASHTROTHANA BHAVAN,NRUPATHUNGA ROAD,BANGALORE|RASHTROTHANA BHAVAN,NRUPATHUNGA ROAD,BANGALORE| _ PETITIONBRS) (BY SRILARAVIND K V, ADVOCATE) AND: M/S INFORMATICA BUSINESS SOLUTIONS PVT LTD.,DIAMOND DISTRICT,TOWER ‘B’, 3 FLOOR, NO.150|BANGALORE-560 011 ~ RESPONDENT (BY SRI.S.SHARATH, ADVOCATE FOR —oORI.CHYTHANYA K K, ADVOCATE) THIS RBEVIBW PETITION IS FILED UNDEBR ORDE47 RULE 1 OF CPC, PRAYING TO REVIEW THE ORDER|DATED:17/12/2015 PASSED IN ITA NO.180/2012, ON|THBRKILE|OF|THBRHON'BLEHIGHCOURTOFKARNATAKA, BENGALURU. THIS PRTITION COMING ON FOR ORDERS THIS|DAY,JAYANT PATEL J., PASSED THE FOLLOWING: ORDER The present review petition is preferred by the.petitioners-appellants contending interalia that the taxeffect in the main ITA was Rs.20,03,054/- and thereforewould not be covered by the Circular No.21/2015 dated10.12.2015 of the Central Board oft Direct Taxes. OoThelearnedCounsel appearingfor.therespondent has brought to our notice the record of ITANo.180/2012 and in the said assessment order, the net tax effect is shown as of Rs.19,26,013/-, which in anycase, is less than Rs.20,00,000/-. The other amount ofinterest is Rs.77,041/-, which in any case, is to beexcluded for considering the net tax effect. 3. In view of the above, as the net tax effect of thesubject assessment was Rs.19,26,013/-, it cannot besaid that the subject was exceeding Rs.20,00,000/-,.since the interest is to be excluded for considering thetax effect. 4. Under the circumstances, we do not find anyvalid ground for review. Hence the review petition isdismissed. JT/- Sd/-.JUDGE| Sd/-.JU DGE