Case Law Details
Case Name : CIT Vs. M/s Ranka & Ranka (Karnataka High Court)
Related Assessment Year :
Courts :
All High Courts Karnataka High Court
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CIT Vs. M/s Ranka & Ranka (Karnataka High Court)
In this judgment HC held that CBDT’s Instruction No. 3 of 2011 dated 9.2.2011 applies to appeal filed before the issue of instruction also and all appeal pending on the date of instruction before High Court in which tax effect does not exceed the monetary limits of Rs. 10 Lakh for filing appeal by Income Tax Department can be held as non Maintainable. High Court has held as follows:-
Though paragraph 11 of Instruction No. 3/2011 provides that the revised tax limits will apply only to fresh appeals, the same has to be held to be applica...
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Lot of litigation between the revenue and small and medium scale assessees is solved with this judgment. The Hon’ble High Court has rightly held it is retrospective in nature and unless such interpretation is given, the benefit goes only to a sect, though the litigation amount involved in appeals filed earlier and now are the same. With this the pend ency will be reduced and fresh filing will also gets diluted at the earliest state.