THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. KRISHNA COOPERATIVE CREDIT SOCIETY LTD

ITA/100203/2015HC KarnatakaKAHC02013931201516 December 2015Bench: S.ABDUL NAZEER,P.S.DINESH KUMAR2 pages

AI SummaryWithdrawn

What did the High Court hold?

The High Court of Karnataka, Dharwad Bench, noted the submission of the learned counsel for the appellants (revenue) that the appeal was not being pressed in view of Circular No. 21/2015 dated 10.12.2015. The Court placed the submission on record and dismissed the appeal as withdrawn. No specific finding was given on the merits of the case, as the appeal was disposed of on a procedural ground based on the revenue's decision not to pursue it. No costs were awarded. The operative direction was to dismiss the appeal as withdrawn.

What were the facts?

This is an appeal filed by the Principal Commissioner of Income Tax and the Income Tax Officer (Appellants) against Krishna Cooperative Credit Society Ltd. (Respondent). The appeal is filed under Section 260A of the Income-Tax Act, 1961, challenging an order passed by the Income Tax Appellate Tribunal, Panaji Bench, in ITA No.97/PNJ/2015, dated 29.07.2015. The Appellants sought to set aside the Tribunal's order and confirm the order passed by the Income Tax Officer, Ward-1(3), Belagavi. The appeal was listed for orders before the High Court of Karnataka, Dharwad Bench.

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 Sri Y.V. Raviraj, submitted that they do not press the appeal in view of Circular No. 21/2015 dated 10.12.2015. The judgment does not record any specific arguments or contentions from the respondent (assessee). The question of law, if any, was to be formulated based on the substantial question of law stated in the appeal memo, which is not detailed in this excerpt.

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.100203 OF 2015 BETWEEN: 1. THE PRINCIPAL COMMISSIONER OF INCOME TAX DR B R AMBEDKAR VEEDHI, BELAGAVI 2. THE INCOME TAX OFFICER, WARD - 1(4), BELGAVI ... APPELLANTS (By Sri. Y V RAVIRAJ, ADV.) AND: KRISHNA COOPERATIVE CREDIT SOCIETY LTD., JAINPETH, AT POST & TALUK: ATHANI DIST: BELAGAVI PAN: AAAAK0261G ... RESPONDENT THIS ITA IS FILED UNDER SECTION 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

2 INCOME TAX APPELLATE TRIBUNAL, PANAJI BENCH PANAJI, IN ITA NO.97/PNJ/2015, DTD: 29.07.2015 AND CONFIRM THE ORDER PASSED BY THE INCOME TAX OFFICER, WARD-1(3), 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. YN.

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