Thetevenuehas Preferred Thisappealchallenging The Order Passed By The Tribunal v. M/S Ranka And Ranka [Ita

IN THE HIGH COURT OF KARNATAKA AT BANGALORE DATED THIS THE 13 DAY OF JUNE 2014| PRESENT THR HON'BLEK MR.JUSTICE N. KUMAR AND THR HON'BLEK MR.JUSTICE B. MANOHAR 1.T.A. NO.437/2008 BBRTWERE 1. THE COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE, ©C R BUILDING,QUEENS ROAD,BANGALORE | 2. THERE ASST. COMMISSIONER O INCOME TAX.CENTRAL CIRCLE 1(2)C R BUILDING,QUEENS ROAD,BANGALOREK ©. APPKBLLANTS (BY SRI.K.V.ARAVIND, ADV.) AND: SHRI.P.SRINIVAS NAIK SINCHK DECKASED BY LEGAL REPRESENIATIVES 1. PUSHPA S. NAYAKW/O P.S.NAYAKFLAT NO.502 ‘B’ BLOCK,SRI. MAHAMAYA SANNIDHI APARTMENTS.NEAR SRI.MAHAMAYA TEMPLE.CAR STREET,|MANGALORE-575 OO1 2. PRATIBHA S. NAYAKELDEST D/O P.S. NAYAKW/O U. SADASHIVA NAYAKFLAT NO.502 ‘B’ BLOCK,SRI. MAHAMAYA SANNIDHI APARTMENTS.NEAR SRI.MAHAMAYA TEMPLE.CAR STREET,|MANGALORE-575 OO1 3. PRAVEBNA GIRIDHARA KINI D/O LATE PS NAYAKW/O GIRIDHARA KINIFLAT NO.12A, MADHUBHAN APARTMENTSGEN J HOSALE MARG|NARIMAN POINT, |MUMBAI-400 O021 4 PRABHA ANIL BHAT. D/O LATE PS NA YA KW/O ANIL MOHANDAS BHATFLAT NO.502 ‘B’ BLOCK,SRI. MAHAMAYA SANNIDHI APARTMENTS.NBAR SRI.MAHAMAYA TEMPLE.CAR STREETMANGALORE-575 OO1 —. RESPONDENTS. (AMENDED VIDE COURT ORDER DATED 13.6.2014) (BY SRIL.A.SHANKAR & SRI.M.LAVA, ADVS.) THIS INCOME TAX APPEAL IS UNDER SEC.260-A OF|INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED|27/11/2007 PASSED IN ITA NO.962/BNG/2007, FOR THEASSESSMENT YREAR 2001-2002. PRAYING THIS HON'BLECOURT TO: 1. FORMULATE THE SUBSTANTIAL QUESTIONS OFLAW STATR THRRBIN| 2. ALLOW THE APPEAL AND SEIT ASIDE THE ORDERDATED 27/11/2007 PASSED BY THE INCOME TAXAPPBRLLATETRIBUNAL,BANGALORE,INITA| NO.962/BNG/2007 CONFIRMING THE ORDERS OF THE|APPELLATECOMMISSIONERANILASSISTANTCOMMISSIONER OF INCOME TAX, CENTRAL CIRCLE — 1(2),BANGALORE. THIS APPEAL COMING ON FOR ORDERS, THIS DAY,N.KUMAR, J.,DELIVBRED THE FOLLOWING: JU DGMENT TheTEVENUEhas preferred thisappealchallenging the order passed by the Tribunal. 2. The net tax effect which is the subject matter|of this appeal is Rs.6,34,392/-. In view of instructionNo. 3/2011 issued by the Department of Revenueprescribing Rs.10,00,000/- as the monetary limit forfiling appeals to this Court, which this Court in thecase ot|The Commissioner Of Income Tax And Another| Vs M/S Ranka and Ranka [ITA No. 3191/2005]disposed of on2.11.2011,has held to be retrospectiveand applicable to pending appeals. 3. Hence, the appeal is dismissed as notmaintainable only on the ground of the subject matterbeing within the monetary limit prescribed and without going into any other question. However, liberty is reserved to the revenue to revive the petitionif the said order passed by this Court is set aside by the Apex Court. sd/- |JUDGE|sd/-JUDGE|RS/*,