THE PR.COMMISSIONER OF INCOME-TAX vs. M/S. AO SMITH INDIA WATER PRODUCTS PVT.LTD.,

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ITA/175/2019HC KarnatakaKAHC01034125201929 July 2021Bench: SATISH CHANDRA SHARMA,SACHIN SHANKAR MAGADUM2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court noted that a memo for withdrawal of the appeal was filed by the appellants. Consequently, the Court accepted the memo and dismissed the appeal as withdrawn. No decision was made on the merits of the case. The Court granted liberty to the appellants to approach the Court again if the need arises in the future. The specific issues that were to be decided by the Tribunal, and the arguments of the parties on those issues, were not addressed as the appeal was withdrawn.

What were the facts?

The appellants, the Principal Commissioner of Income-Tax and the Assistant Commissioner of Income-Tax, filed an appeal under Section 260-A of the Income Tax Act, 1961, before the High Court of Karnataka. The appeal arose from an order dated September 12, 2018, passed by the Income-Tax Appellate Tribunal (ITAT), Bengaluru Bench, in ITA(TP) No. 216/Bang/2016. This order confirmed the order of the Dispute Resolution Panel (DRP) and the assessment order passed by the Assistant Commissioner of Income-Tax for the Assessment Year 2011-2012. The assessee is M/s AO Smith India Water Products Pvt. Ltd. The appeal was filed seeking to set aside the ITAT's order.

What were the issues?

The High Court was to decide the substantial questions of law arising from the ITAT's order. The appellants sought to formulate these questions. However, the judgment does not explicitly state the substantial questions of law that were to be decided, nor does it record the arguments presented by either the assessee or the revenue. The primary procedural event recorded is the filing of a memo for withdrawal of the appeal by the appellants.

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 29TH DAY OF JULY, 2021

PRESENT

THE HON'BLE MR. JUSTICE SATISH CHANDRA SHARMA

AND

THE HON’BLE MR. JUSTICE SACHIN SHANKAR MAGADUM

I.T.A NO. 175 OF 2019

BETWEEN:

1.

THE PR.COMMISSIONER OF INCOME-TAX, 5TH FLOOR, BMTC BUILDING, 80 FEET ROAD, KORAMANGALA, BENGALURU-560 095.

2.

THE ASST. COMMISSIONER OF INCOME-TAX CIRCLE-1(1)(1), 2ND FLOOR, BMTC BUILDING, 80 FEET ROAD, KORMANGALA, BENGALURU-560 095. ...APPELLANTS (BY SRI.ARAVIND K.V., ADVOCATE)

AND: M/S AO SMITH INDIA WATER PRODUCTS PVT. LTD., NO.300, PHASE II, KIADB, INDUSTRIAL AREA HAROHALLI, KANAKAPURA TALUK, RAMANAGARA DIST., PAN: AAFCA 8954R …RESPONDENT (BY SRI. K.R.VASUDEVAN, ADVOCATE)

THIS ITA IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 12.09.2018 PASSED IN ITA(TP) NO.216/BANG/2016, FOR THE ASSESSMENT YEAR 2011- 2012 PRAYING THIS HON'BLE COURT TO (I) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED ABOVE; (II) ALLOW THE APPEAL AND SET ASIDE THE ORDER PASSED BY THE INCOME- TAX APPELLATE TRIBUNAL, BENGALURU IN IT(TP)A NO.216/BANG/2016 DATED 12.09.2018 FOR ASSESSEMENT YEAR 2011-2012 ANNEXURE-D CONFIRMING THE ORDER OF THE DRP AND CONFIRM THE ORDER PASSED BY THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE - 1(1), BENGALURU.

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

JUDGMENT

Memo for withdrawal of the appeal is accepted.

The appeal is dismissed as withdrawn.

Liberty is certainly granted to approach this Court again in case need so arises in future.

Sd/- JUDGE

Sd/- JUDGE

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