M/S TUMKUR DCC BANK LTD vs. The Assistant Commissioner

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ITA/14/2021HC KarnatakaKAHC01052191201926 February 2021Bench: SATISH CHANDRA SHARMA,V SRISHANANDA2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court allowed the memo filed by the appellant. Consequently, the appeal was dismissed as withdrawn. The Court granted the appellant the liberty to review the decision if the dispute was not settled under the Direct Tax Vivad-se-Vishwas Act, 2020. The reasoning was based on the appellant's undertaking to settle the tax dispute under the aforementioned scheme and their request for withdrawal. The operative direction was the dismissal of the appeal as withdrawn with liberty to review.

What were the facts?

The appellant, M/s Tumkur DCC Bank Ltd., filed an appeal before the High Court of Karnataka against an order passed by the Income Tax Appellate Tribunal (ITAT), Bengaluru 'A' Bench, in ITA No.03/BANG/2019 dated 12.07.2019. The appeal pertained to the Assessment Year 2014-2015. The appellant subsequently filed a memo dated 09.02.2021, informing the Court that it had filed necessary documents for a declaration and undertaken to pay taxes on the disputed income under the Direct Tax Vivad-se-Vishwas Act, 2020. The appellant prayed for permission to withdraw the appeal with liberty to review if the dispute was not settled under the said Act.

What were the issues?

The primary issue before the High Court was whether to allow the appellant to withdraw the appeal. The appellant's contention, as stated in the memo, was that they had opted for the Direct Tax Vivad-se-Vishwas Act, 2020, for settlement of the disputed income for Assessment Year 2014-15. The appellant sought permission to withdraw the appeal with liberty to review the decision if the settlement under the Act was unsuccessful. The judgment does not record any specific arguments from the revenue's side regarding the 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

1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 26TH 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.14/2021 BETWEEN: M/S TUMKUR DCC BANK LTD., REPRESENTED BY ITS MANAGING DIRECTOR, PB NO.44, TOWN POLICE STATION TUMKUR-572102. PAN NO.AAAAD2860J .... APPELLANT (BY SRI V CHANDRASEKHAR, ADVOCATE FOR SRI S. ANNAMALAI, ADVOCATE) AND: THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAMAKRISHNA NAGAR, KUNIGAL ROAD, TUMKUR-572 105. ... RESPONDENT THIS I.T.A. IS FILED UNDER SEC. 260-A OF INCOME TAX ACT 1961, PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW AS STATED IN THIS APPEAL AND ANSWER THE SAME IN FAVOUR OF THE APPELLANT AND TO ALLOW THE APPEAL AND SET ASIDE THE FINDINGS TO THE EXTENT AGAINST THE APPELLANT IN THE ORDER PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, BENGALURU ‘A’ BENCH IN ITA NO.03/BANG/2019 DATED 12.07.2019 FOR THE

2 ASSESSMENT YEAR 2014-2015 ANNEXURE-A AND TO PASS SUCH OTHER ORDERS, AS THIS HON’BLE COURT TO DEEMS FIT AND PROPER TO MEET THE ENDS OF JUSTICE. THIS I.T.A. 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 intimating this Court that, the appellant has filed necessary documents for declaration and undertaken to pay the taxes on disputed income under scheme of Direct Tax Vivad-se-Vishwas Act, 2020 for the Assessment Year 2014-15 before the concerned authority, and prays permission of this court to withdraw the appeal with a liberty to the appellant to review, in case if the dispute is not settled under the said Act.

The said memo is allowed. The appeal is dismissed as withdrawn, with the liberty as sought for. Sd/-

JUDGE Sd/- JUDGE KGR*

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