THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. SHRI BASAWESHWAR CO OP CREDIT SOCIETY

ITA/100131/2015HC KarnatakaKAHC02011609201516 December 2015Bench: S.ABDUL NAZEER,P.S.DINESH KUMAR2 pages

AI SummaryWithdrawn

What did the High Court hold?

The Tribunal noted the submission of the learned counsel for the appellants (revenue) that the appeal is not pressed in view of Circular No. 21/2015 dated 10.12.2015. The submission was placed on record. Consequently, the appeal was dismissed as withdrawn. No costs were awarded. The specific reasoning behind the circular or why it led to the withdrawal of the appeal is not detailed in the judgment. The operative direction is the dismissal of the appeal as withdrawn.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax and the Income Tax Officer against an order passed by the Income Tax Appellate Tribunal, Panaji Bench. The assessment years are not specified in the judgment. The appeal challenges the ITAT's order in ITA No.15/PNJ/2015, dated 20.03.2015. The assessee is Shri Basaweshwar Co-op. Credit Society Ltd. The revenue is represented by the Principal Commissioner of Income Tax and the Income Tax Officer. The procedural history is that the revenue filed this appeal under Section 260A of the Income Tax Act, 1961.

What were the issues?

1. Whether the appeal filed by the revenue should be dismissed as withdrawn in view of Circular No. 21/2015 dated 10.12.2015? (Question of law). The revenue, through its counsel, submitted that it does not press the appeal in view of the aforementioned circular. No arguments were recorded for the respondent assessee.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KARNATAKA DHARWAD BENCH DATED THIS THE 16TH DAY OF DECEMBER, 2015 PRESENT THE HON’BLE MR.JUSTICE S. ABDUL NAZEER AND THE HON’BLE MR.JUSTICE P.S.DINESH KUMAR ITA No.100131 OF 2015 BETWEEN: 1 THE PRINCIPAL COMMISSIONER OF INCOME TAX, DR. B.R.AMBEDKAR ROAD, BELAGAVI. 2 THE INCOME TAX OFFICER, NIPANI, DIST:BELAGAVI.

… APPELLANTS (BY SRI Y.V.RAVIRAJ, ADV.) AND SHRI BASAWESHWAR CO-OP. CREDIT SOCIETY LTD., SOMWAR PETH, CHIKKODI, DIST:BELAGAVI, AAAAB 1335 Q … RESPONDENT THIS ITA IS FILED UNDER SECTION 260A OF THE INCOME TAX ACT, 1961 TO SET ASIDE THE ORDER PASSED

2 BY THE INCOME TAX APPELLATE TRIBUNAL,PANAJI BENCH, PANAJI, IN ITA NO.15/PNJ/2015, DTD:20.03.2015 AND ETC. THIS ITA COMING ON FOR ORDERS THIS DAY, P.S.DINESH KUMAR, J., DELIVERED THE FOLLOWING: JUDGMENT Sri Y.V.Raviraj, learned counsel appearing for the appellants submits that he does not press this appeal in view of the circular No.21/2015 in F.No.279/ Misc.142/2007-ITJ(Pt), dated 10.12.2015. 2. The submission of the learned counsel appearing for the appellants is placed on record. The appeal is dismissed as withdrawn. No costs.

Sd/- JUDGE.

Sd/- JUDGE. KLY/

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