THE COMMISSIONER OF INCOME TAX vs. SHREE BASAVESHWAR CO-OP BANK LIMITED

ITA/100188/2015HC KarnatakaKAHC02014395201531 May 2016Bench: H.G.RAMESH,RATHNAKALA2 pages

AI SummaryDismissed

What did the High Court hold?

The High Court of Karnataka, Dharwad Bench, dismissed the appeal filed by the Revenue. The dismissal was based on a submission made by the learned counsel for the appellants (Revenue). The counsel fairly submitted that the question raised in the present appeal had already been answered against the appellants in previous appeals, specifically ITA Nos.100047, 100048-49/2015, decided on December 16, 2015. Therefore, following the precedent set by those earlier decisions, the present appeal was also dismissed. The High Court did not independently decide the substantial question of law but relied on its prior ruling. No specific relief was granted to the assessee, as the appeal was dismissed on procedural grounds related to prior judgments.

What were the facts?

This case involves an appeal filed by the Commissioner of Income Tax and the Deputy Commissioner of Income Tax (the Revenue) against an order passed by the Income Tax Appellate Tribunal, Panaji Bench. The appeal is preferred under Section 260A of the Income Tax Act, 1961. The Revenue is challenging an order of the Tribunal which was in favor of the assessee, Shree Basaveshwar Co-op Bank Limited. The specific assessment year(s) and the amount in dispute are not explicitly stated in the provided text. The procedural history indicates that the Revenue is seeking to set aside the Tribunal's order and confirm the order of the Assistant Commissioner of Income Tax, Belagavi.

What were the issues?

1. Whether the substantial question of law formulated in the appeal requires the High Court to decide in favor of the Revenue. (Question of law) Assessee's Contention: The judgment does not record any specific contentions made by the assessee. The assessee is the respondent in this appeal before the High Court. Revenue's Contention: The Revenue, as the appellant, contends that the order passed by the Income Tax Appellate Tribunal is erroneous and seeks to set it aside. They aim to confirm the order passed by the Assistant Commissioner of Income Tax. The Revenue relies on the substantial question of law formulated in their appeal to justify the intervention of the High Court.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

ITA No.100188 OF 2015 -1- IN THE HIGH COURT OF KARNATAKA DHARWAD BENCH DATED THIS THE 31st DAY OF MAY 2016 PRESENT THE HON’BLE MR. JUSTICE H.G.RAMESH AND THE HON’BLE MRS. JUSTICE RATHNAKALA ITA No.100188 OF 2015 BETWEEN 1. THE COMMISSIONER OF INCOME TAX DR.B.R.AMBEDKAR VEEDHI, BELAGAVI 2. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, BELAGAVI ... APPELLANTS (By Sri Y.V. RAVIRAJ, ADV.) AND SHREE BASAVESHWAR CO-OP BANK LIMITED CTS.NO.704 & 705, 1ST FLOOR, RAVIVAR PETH, BELAGAVI. PAN:AAAAB3041M ... RESPONDENT THIS ITA IS FILED U/S.260A OF THE INCOME-TAX ACT 1961, PRAYING TO (a) FORMULATE THE SUBSTANTIAL QUESTION OF LAW STATED ABOVE (b) ALLOW THE APPEAL AND SET ASIDE THE ORDERS PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH, PANAJI, IN ITA NO.420/PNJ/2014, DTD:13.07.2015 AND CONFIRM THE ORDER PASSED BY THE ASSISTANT COMMISSIONER OF INCOME TAX, BELAGAVI, IN THE INTEREST OF JUSTICE AND EQUITY. THIS ITA COMING ON FOR ADMISSION THIS DAY, H.G. RAMESH J., DELIVERED THE FOLLOWING:

ITA No.100188 OF 2015 -2- JUDGMENT H.G.RAMESH, J. (Oral): Learned counsel appearing for the appellants fairly submits that the question raised in this appeal is answered against the appellants in ITA Nos.100047, 100048-49/2015 (DD 16.12.2015). Accordingly, this appeal is dismissed. Appeal dismissed. Sd/- JUDGE Sd/- JUDGE kmv

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