The Joint Commissioner of Income Tax (OSD) (Exemptions), Bangalore V. M/s Karnataka Industrial Area Development Board, Bangalore

MA 51/BANG/2020

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 9595 (ITAT-BANGALORE)
• Duration Of Justice: 4 month(s) 8 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 10-07-2020
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2011-2012
• Appeal Filed On: 02-03-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MANJEET SINGH BENGALURU
• Assessee Lawyers: H PADAMCHAN D KHINCHA
• Keywords: Tax effect
• Section: 254(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI A K GARODIA , ACCOUNTANT MEMBER MP 51/BANG/2020 [ IT A NO. 1333/BANG/2016 ] ASSESSMENT YEAR: 2011 - 12 THE JOINT COMMISSIONER OF INCOME TAX (OSD) (EXEMPTIONS), CIRCLE 1, BENGALURU. VS. KARNATAKA INDUSTRIAL AREA DEVELOPMENT BOARD, 143, R P BUILDING, 2 ND FLOOR, NRUPATUNGA ROAD, BANGALORE 560 001. PAN: AAATK 1350J A P P L IC ANT RESPONDENT APP L IC ANT BY : SHRI MANJEET SINGH, ADDL. CIT(DR)(ITAT), BENGALURU. RESPONDENT BY : SHRI H PADAMCHAND KHINCHA, CA DATE OF HEARING : 1 0 .0 7 .2020 DATE OF PRONOUNCEMENT : 10 .0 7 .2020 O R D E R PER N.V. VASUDEVAN, VICE PRESIDENT THIS MISCELLANEOUS PETITION IS FILED BY THE REVE NUE U/S. 254(2) OF THE INCOME-TAX ACT, 1961 [THE ACT] PRAYING THAT THE ORD ER OF THE TRIBUNAL DATED 28.08.2019 DISMISSING THE APPEAL OF THE DEPARTMENT FOR LOW TAX EFFECT AS LAID DOWN IN CBDT CIRCULAR NO.17/2019 DATED 08.08.2 019 SHOULD BE RECALLED. 2. THE REVENUE HAS POINTED OUT THAT THE TAX EFFECT IN THE AFORESAID APPEAL IS MORE THAN RS.50 LAKHS AND THEREFORE THE A PPEAL OF THE REVENUE OUGHT NOT TO HAVE BEEN DISMISSED ON LOW TAX EFFECT. THE LD. COUNSEL FOR THE MP NO.51/BANG/2020 PAGE 2 OF 2 ASSESSEE ACCEPTED THE STAND OF THE DEPARTMENT. HEN CE, THE ORDER DISMISSING THE ABOVE APPEAL ON THE GROUND OF LOW TA X EFFECT IS RECALLED. THE REGISTRY IS DIRECTED TO FIX THE APPEAL FOR HEARING IN DUE COURSE AFTER NOTICE TO THE PARTIES. 3. IN THE RESULT, THE MISCELLANEOUS PETITION BY THE REVENUE IS ALLOWED. PRONOUNCED IN THE OPEN COURT ON THIS 10 TH DAY OF JULY, 2020. SD/- SD/- ( A K GARODIA ) ( N V VASUDEVAN ) ACCOUNTANT MEMBER VICE PRESIDENT BANGALORE, DATED, THE 10 TH JULY, 2020. / DESAI S MURTHY / COPY TO: 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. BY ORDER ASSISTANT REGISTRAR ITAT, BANGALORE.