COMMISSIONER OF INCOME TAX vs. M/S UDAYA SOUHARDA CREDIT CO-OPERATIVE SOCIETY LTD

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ITA/168/2015HC KarnatakaKAHC01026463201501 September 2015Bench: B.MANOHAR,VINEET SARAN2 pages
AI SummaryDismissed

What did the High Court hold?

The High Court of Karnataka noted that the question involved in the present appeal is covered by its earlier decision in the case of Commissioner of Income Tax –vs- Sri Biluru Gurubasava Pattina Sahakari Sangha Niyamitha Bagalkot, decided on February 5, 2014, in ITA No.5006/2013. Following this precedent, the High Court dismissed the appeal. The specific findings or reasoning of the ITAT that were relied upon or distinguished are not detailed in this judgment. The ratio decidendi is that if a matter is covered by a binding precedent of the High Court, the appeal on that issue will be dismissed. No specific issue was left undecided.

What were the facts?

The Revenue, comprising the Commissioner of Income Tax and the Income Tax Officer, has filed an appeal under Section 260-A of the Income Tax Act, 1961, against an order dated September 26, 2014, passed by the Income Tax Appellate Tribunal (ITAT), 'A' Bench, Bangalore. The appeal pertains to the assessment year 2010-2011 and challenges the ITAT's decision in appeal proceedings bearing number ITA No.1308/Bang/2013. The assessee is M/s Udaya Souharda Credit Co-operative Society Ltd. The High Court of Karnataka heard the appeal.

What were the issues?

1. Whether the ITAT's order dated 26.09.2014, in ITA No.1308/Bang/2013 for AY 2010-2011, is sustainable in law? The Revenue contended that the appeal involves a substantial question of law and sought to set aside the order of the ITAT. The judgment does not record any specific arguments made by the Revenue beyond the general submission that the appeal involves a substantial question of law. The judgment does not record any arguments made by the Respondent (assessee).

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 1ST DAY OF SEPTEMBER, 2015

PRESENT

THE HON'BLE MR. JUSTICE VINEET SARAN

AND

THE HON’BLE MR. JUSTICE B.MANOHAR

ITA NO.168/2015

BETWEEN

1.

COMMISSIONER OF INCOME

TAX, C.R. BUILDINGS,

QUEENS ROAD,

BANGALORE – 560 001.

2.

THE INCOME TAX OFFICER

WARD 4(2),

BANGALORE. ... APPELLANTS (BY SRI.E.I. SANMATHI,ADV.)

AND

M/S UDAYA SOUHARDA CREDIT CO-OPERATIVE SOCIETY LTD., NO.372, 2ND FLOOR, 9TH MAIN, HANUMANTHANAGAR, BANGALORE – 560 019. …RESPONDENT

THIS ITA IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED: 26.09.2014 PASSED IN ITA NO.1308/BANG/2013, FOR THE ASSESSMENT YEAR 2010-2011. PRAYING TO SET ASIDE THE APPELLATE ORDER

DATED:26.09.2014 PASSED BY THE ITAT, ‘A’ BENCH, BANGALORE, IN APPEAL PROCEEDINGS NO.ITA NO.1308/BANG/2013 FOR ASSESSMENT YEAR 2010-2011.

THIS ITA COMING ON FOR ADMISSION THIS DAY, VINEET SARAN J. DELIVERED THE FOLLOWING:

JUDGMENT

Heard Sri E.I.Sanmathi, learned counsel for the appellants and perused the records.

2.

The question involved in this appeal is covered by the decision of this Court in the case of Commissioner of Income Tax –vs- Sri Biluru Gurubasava Pattina Sahakari Sangha Niyamitha Bagalkot in ITA No.5006/2013 decided on 05.02.2014.

In the light of the aforesaid judgment, this appeal stands dismissed. Sd/-

JUDGE

Sd/-

JUDGE TL

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