THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. SHRI. KALMESHWAR CO-OP CREDIT SOCIETY LTD

ITA/100195/2015HC KarnatakaKAHC02013967201516 December 2015Bench: S.ABDUL NAZEER,P.S.DINESH KUMAR2 pages

AI SummaryWithdrawn

What did the High Court hold?

The High Court noted the submission made by the learned counsel appearing for the appellants (revenue). The counsel stated that he did not press the appeal in view of Circular No. 21/2015 in F.No.279/Misc.142/2007-ITJ(Pt), dated December 10, 2015. Based on this submission, the High Court placed the submission on record and dismissed the appeal as withdrawn. No costs were awarded. The specific findings or reasoning of the Tribunal that were under challenge are not detailed, nor is the content of the circular mentioned, beyond its date and reference number.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax and the Income Tax Officer (Appellants) against Shri. Kalmeshwar Co-op Credit Society Ltd. (Respondent). The appeal challenges an order passed by the Income Tax Appellate Tribunal, Panaji Bench, in ITA No.35/PNJ/2015, dated July 15, 2015. The Appellants sought to set aside the Tribunal's order and confirm the order passed by the Income Tax Officer, Ward - 1(2), Belagavi. The present appeal was filed under Section 260A of the Income-Tax Act, 1961.

What were the issues?

The primary issue before the High Court was whether to formulate substantial questions of law and allow the appeal filed by the revenue. The revenue, represented by the Principal Commissioner of Income Tax and the Income Tax Officer, sought to set aside the order of the Income Tax Appellate Tribunal and uphold the order of the Income Tax Officer. The respondent, Shri. Kalmeshwar Co-op Credit Society Ltd., was the assessee. The judgment does not explicitly state the specific grounds or arguments presented by either side, other than the submission made by the revenue's counsel.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PANAJI BENCH PANAJI,

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.100195 OF 2015 BETWEEN: 1. THE PRINCIPAL COMMISSIONER OF INCOME TAX, DR.B.R.AMBEDKAR VEEDHI, BELAGAVI. 2. THE INCOME TAX OFFICER, WARD - 2(3), BELAGAVI. ..... APPELLANTS (BY SRI. Y V RAVIRAJ, ADV.) AND: SHRI. KALMESHWAR CO-OP CREDIT SOCIETY LTD., MARATHA COLONY, B.K.KANGRALI, BELAGAVI, 1 FORT, BELAGAVI. PAN: AAAJS 2317 N ..... RESPONDENT (BY SRI H.R.KAMBIYAVAR, ADV.) THIS ITA IS FILED UNDER SECTION 260A OF THE `INCOME-TAX ACT, 1961 PRAYING TO (a) FORMULATE THE

2 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.35/PNJ/2015, DTD: 15.07.2015 AND CONFIRM THE ORDER PASSED BY THE INCOME TAX OFFICER, WARD - 1(2), BELAGAVI 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. Naa

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