M/S JSW STEEL LIMITED vs. THE ASSISTANT COMMISSIONER

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ITA/20/2012HC KarnatakaKAHC01011080201213 February 2020Bench: ALOK ARADHE,RAVI V HOSMANI2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court of Karnataka, acknowledging the submission by the assessee's counsel that the substantial questions of law have become academic due to subsequent events, granted the assessee's request to withdraw the appeal. The Court allowed the appeal to be disposed of in terms of the liberty prayed for, which was to withdraw the appeal with the option to revive it later. No decision on the merits of the substantial questions of law was made.

What were the facts?

The appeal was filed by M/s JSW Steel Limited (formerly Jindal Vijayanagar Steel Limited) against an order dated May 31, 2010, passed in ITA No. 931/BANG/2009 by the Income Tax Appellate Tribunal (ITAT), Bangalore Bench. The assessment year in question is 2005-2006. The appeal is filed under Section 260-A of the Income Tax Act, 1961. The appellant is represented by senior advocate Sri. A Shankar and advocate Sri. Venkatesh K Pani, while the respondent revenue is represented by advocate Sri. K.V. Aravind.

What were the issues?

The substantial questions of law involved in this appeal have been rendered academic due to subsequent events. The assessee's counsel sought leave to withdraw the appeal with liberty to revive it if occasion arises. The revenue's contentions are not recorded in the judgment as the appeal was withdrawn by the assessee.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 13THDAY OF FEBRUARY 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND

THE HON’BLE MR. JUSTICE RAVI V. HOSMANI

ITA No.20/2012

BETWEEN:

M/s JSW Steel Limited, (Formerly known as Jindal Vijayanagar Steel Limited) Jindal Mansion, 5A, Dr. G Deshmukh Marg. Mumbai 400 026 ...APPELLANT

(By Sri. A Shankar, Senior Advocate a/w Sri. Venkatesh K Pani, Advocate)

AND: The Assistant Commissioner of Income Tax, Circle-11(5), C.R.Building Queens Road, Bangalore 560 001

…RESPONDENT

(By Sri. K. Aravind, Advocate)

THIS INCOME TAX APPEAL IS FILED UNDER SECTION 260-A OF THE INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED

2 31.5.2010 PASSED IN ITA NO.931/BANG/2009,FOR THE ASSESSMENT YEAR 2005-2006.

THIS APPEAL COMING ON FOR FINAL HEARING, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING:

JUDGMENT

Mr. A Shankar, learned senior counsel along with Mr. Venkatesh K. Pani, learned counsel for the respondent. Sri. K.V. Aravind , learned counsel for the revenue. Learned Senior counsel for the assessee submits that on account of subsequent events, the substantial questions of law involved in this appeal is rendered academic, he therefore seeks leave of this Court to withdraw the appeal with liberty to revive as and when occasion arises. Accordingly, the appeal is disposed of in terms of the liberty as prayed.

Sd/- JUDGE

Sd/-

JUDGE Psg*

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