M/S TUMKUR DCC BANK LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

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ITA/12/2021HC KarnatakaKAHC01052189201925 February 2021Bench: SATISH CHANDRA SHARMA,V SRISHANANDA2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court noted that the learned counsel for the appellant had filed a memo dated 09.02.2021 seeking withdrawal of the appeal. The Court allowed this prayer. Consequently, the appeal was dismissed as withdrawn. No decision was made on the merits of the original challenge to the Income Tax Appellate Tribunal's order. The operative direction was to dismiss the appeal as withdrawn.

What were the facts?

The appellant, M/s. Tumkur DCC Bank Ltd., filed an appeal under Section 260-A of the Income Tax Act, 1961, before the High Court of Karnataka. The appeal challenged an order passed by the Income Tax Appellate Tribunal, Bangalore 'A' Bench, in ITA No. 01/Bang/2019 for the Assessment Year 2012-13. The appellant sought to set aside the findings in the Tribunal's order to the extent they were against the appellant. The respondent was the Assistant Commissioner of Income Tax, Circle-1, Tumkur. The appeal was filed on January 25, 2021.

What were the issues?

The High Court was to decide whether to allow the appeal filed by M/s. Tumkur DCC Bank Ltd. against the order of the Income Tax Appellate Tribunal. The appellant sought to set aside the findings of the Tribunal that were adverse to it. The judgment does not record specific arguments from either the appellant or the respondent regarding the merits of the case. The primary procedural aspect was the appellant's subsequent filing of a memo seeking withdrawal of the appeal.

Which sections of the Income-tax Act were involved?

Section 260-A

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 25TH DAY OF FEBRUARY, 2021

PRESENT

THE HON’BLE MR. JUSTICE SATISH CHANDRA SHARMA

AND

THE HON’BLE MR. JUSTICE V. SRISHANANDA

I.T.A. NO. 12 OF 2021

BETWEEN:

M/S. TUMKUR DCC BANK LTD., REP. BY ITS MANGAING DIRECTOR, PRAKASH G, P.B.No.44, TOWN POLICE STATION, TUMKUR-572 102. PAN:AAAAD2860J ... APPELLANT (BY SRI.ANNAMALAI S, ADVOCATE)

AND:

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAMAKRISHNANAGAR, KUNIGAL ROAD, TUMKUR-572 105.

... RESPONDENT - - -

THIS I.T.A. IS FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, PRAYING TO SET ASIDE THE FINDINGS TO THE EXTENT AGAINST THE APPELLANT IN THE ORDER PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE ‘A’ BENCH IN ITA 01/BANG/2019 DATED

12.07.2019 FOR THE ASSESSMENT YEAR 2012-13 ANNEXURE-A.

THIS ITA COMING ON FOR ORDERS THIS DAY, SATISH CHANDRA SHARMA. J., DELIVERED THE FOLLOWING:

JUDGMENT

Learned counsel for the appellant has filed a memo dated 09.02.2021 seeking withdrawal of the appeal. The prayer is allowed.

The appeal is dismissed as withdrawn.

Sd/-

JUDGE

Sd/- JUDGE

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