Rp/582/2024 Of The Pr Commissioner Of Income Tax v. M/S Shiva Ferric Pvt Ltd

Digitally signedby NIRMALADEVILocation: HIGHCOURT OFKARNATAKA RP No. 582 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 28 DAY OF FEBRUARY, 2025 PRESENT THE HON'BLE MR JUSTICE S.G.PANDIT AND THE HON'BLE MR JUSTICE C.M. POONACHA REVIEW PETITION NO. 582 OF 2024 BETWEEN: 1. THE PR COMMISSIONER OF INCOME TAX CENTRAL, 3RD FLOOR, C R BUILDING, QUEENS ROAD, BANGALORE-560 001. 2. THE PR. COMMISSIONER OF INCOME TAX CENTRAL, PRESENT ADDRESS DCIT, CENTRAL CIRCLE-2(1), 3 FLOOR, C R BUILDING, QUEENS ROAD, BANGALORE-560 001. …PETITIONERS (BY SRI DILIP, ADVOCATE FOR SRI Y V RAVIRAJ, ADVOCATE) SRI Y V RAVIRAJ, ADVOCATE) AND: M/S SHIVA FERRIC PVT LTD NO. 193, 4 FLOOR, SHIV SADAN OUTER RING ROAD, B. NARAYANAPURA, BANGALORE-560 016. PAN . REP. BY ITS MANAGING DIRECTOR. …RESPONDENT THIS RP IS FILED UNDER ORDER 47 RULE 1 AND 2 R/W SEC. 114 OF CPC, PRAYING TO REVIEW THE ORDER DATED 30.09.2024 PASSED BY THIS HONBLE COURT IN ITA NO.404/2023 AND TO PASS SUCH OTHER SUITABLE ORDERS AS THIS HONBLE COURT DEEMS FIT TO BE GRANTED IN THE FACTS AND CIRCUMSTANCES OF THE CASE IN THE INTEREST OF JUSTICE AND EQUITY AND ETC. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE S.G.PANDIT and HON'BLE MR JUSTICE C.M. POONACHA ORAL ORDER (PER: HON'BLE MR JUSTICE S.G.PANDIT) Heard learned counsel Sri Dilip appearing for learned counsel Sri Y.V.Raviraj, for the Review Petitioner/Revenue. 2. Review Petitioner is before this Court under XLVII Rule 1 of the Code of Civil Procedure, 1908 (for short ‘CPC’) with a prayer to review the order dated 19.8.2024 in ITA No.389/2023 placing reliance on Circular Nos.5/2024 dated 15.3.2024 and 9/2024, dated 17.9.2024 and contending that where the tax effect is not quantifiable and orders under Section 263 of the Income Tax Act, 1961, as mentioned in para 3.1(f) of the Circular, the Circular would have no application and the appeal is to be considered on merits. 3. We have considered the submission of the learned Counsel Sri Dilip and we have also gone through the Review Petition. On going through the Review Petition, it is seen that - 3 - the Review Petition itself states the disputed tax amount i.e., `13,12,724/-. In the order under review, we have noted the monetary value involved in the appeal i.e., less than `2 crores and thereafter, in terms of Circular No.5/2024 dated 15.3.2024, the appeal was disposed of. 4. In the above circumstances, we do not find any error in the order under review. Accordingly, Review Petition stands rejected. Consequently, IA.No.1/2024 stands disposed of. Sd/- (S.G.PANDIT) JUDGE Sd/- (C.M. POONACHA) JUDGE ND List No.: 1 Sl No.: 4