- 1 - HC-KAR NC: 2025:KHC:48295-DB RP No. 98 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 21ST DAY OF NOVEMBER, 2025 PRESENT THE HON'BLE MR. JUSTICE S.G.PANDIT AND THE HON'BLE MR. JUSTICE C.M. POONACHA REVIEW PETITION NO. 98 OF 2025 BETWEEN: 1. THE PR. COMMISSIONER OF INCOME TAX CIT(A), 5TH FLOOR, BMTC BUILDING, 60 FEET ROAD, KORAMANGALA, BANGALORE-560085 2. THE ASSISTANT COMMISSIONER OF INCOME TAX LTU, BMTC COMPLEX, KORAMANGALA, BENGALURU-560095 …PETITIONERS (BY SRI. SANMATHI E I, ADVOCATE) AND: M/S YOKOGAWA INDIA LTD PLOT NO.96, 3RD CROSS, ELECTRONIC CITY, HOSUR ROAD, BENGALURU-560100 PAN AAACY0840P REP BY ITS DIRECTOR …RESPONDENT Digitally signed by NIRMALA DEVI Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:48295-DB RP No. 98 of 2025 THIS REVIEW PETITION IS FILED UNDER ORDER 47 RULE 1 R/W SEC. 114 OF CPC, PRAYING TO REVIEW THE REVIEW THE JUDGMENT DATED 24.09.2024 PASSED IN ITA NO.579/2023 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 C.M. POONACHA) 1. The present review petition is filed under Order XLVII Rule 1 read with Section 114 of the Code of Civil Procedure, 19081 to review the judgment dated 24.9.2024 passed in ITA No.579/2023, whereunder the appeal filed by the revenue was disposed of by noticing that the said appeal would not be maintainable in view of the Circular No.9/2024, dated 17.9.2024, issued by the Central Board of Direct Taxes since the tax effect in the appeal is less than `2.00 crores. However, liberty was granted to the revenue to seek revival of the appeal. 1 hereinafter referred to as 'CPC' - 3 - HC-KAR NC: 2025:KHC:48295-DB RP No. 98 of 2025 2. Learned counsel for the revenue submits that as per the assessment order dated 25.10.2019 passed under Section 143(3) read with Section 144C(13) of the Income Tax Act, 19612, the transfer pricing adjustment is `34,91,01,798/-, other additions is `39,44,94,429/- and the tax effect being 30% of the said amount is `3,20,69,059/-. Hence, it is submitted that the appeal would be maintainable and would not be covered under the aforesaid Circular dated 17.9.2024. 3. The appeal was disposed of before issuance of notice to the respondent. 4. Having regard to the fact that the tax effect is more than `2.00 crores as contended by the learned counsel for the review petitioners, it is just and expedient that the present review petition be allowed and the judgment dated 24.9.2024 passed in ITA No.579/2023 be reviewed/recalled. 5. Hence, the following: ORDER i. The above petition is allowed; 2 hereinafter referred to as 'IT Act' - 4 - HC-KAR NC: 2025:KHC:48295-DB RP No. 98 of 2025 ii. The judgment dated 24.9.2024 passed in ITA No.579/2023 is reviewed/recalled. iii. Re-list ITA No.579/2023 before the roster Bench after two weeks. Sd/- (S.G.PANDIT) JUDGE Sd/- (C.M. POONACHA) JUDGE ND List No.: 1 Sl No.: 26