THE PR COMMISSIONER OF INCOME TAX vs. M/S EXIDE LIFE INSURANCE CO LTD

PDF · subscribers
ITA/201/2020HC KarnatakaKAHC01019880202005 January 2021Bench: ALOK ARADHE,V SRISHANANDA2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court noted that the learned counsel for the Revenue had filed a memo seeking leave to withdraw the appeal. The Court took the aforesaid memo on record. For the reasons assigned in the memo, the High Court dismissed the appeal as withdrawn. No decision was made on the merits of the substantial questions of law that the Revenue had sought to formulate and have decided. The operative direction was to dismiss the appeal as withdrawn.

What were the facts?

This case involves an appeal filed by the Principal Commissioner of Income-tax and the Deputy Commissioner of Income-tax (the Revenue) against an order dated December 13, 2019, passed by the Income Tax Appellate Tribunal (ITAT), Bengaluru Bench. The appeal pertains to Assessment Year 2013-14 and concerns M/s. Exide Life Insurance Co. Ltd. (the Assessee). The ITAT's order had confirmed the order of the Appellate Commissioner, which in turn had likely modified or set aside the order of the Deputy Commissioner. The Revenue has filed this appeal under Section 260-A of the Income Tax Act, 1961, seeking to set aside the ITAT's order.

What were the issues?

1. Whether the substantial questions of law formulated by the Revenue are to be decided by this Court? (Question of law) Contentions: Assessee: No arguments are recorded for the Assessee in the provided judgment. Revenue: The Revenue, through its counsel, has filed a memo seeking leave of the Court to withdraw 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 5TH DAY OF JANUARY 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE V. SRISHANANDA I.T.A. NO.201 OF 2020 BETWEEN: 1. THE PR. COMMISSIONER OF INCOME-TAX

5TH FLOOR, BMTC BUILDING

6TH BLOCK, 80 FEET ROAD

KORAMANGALA, BENGALURU-560095. 2. THE DEPUTY COMMISSIONER OF INCOME-TAX

CIRCLE-2(1)(2), 2ND FLOOR

BMTC BUILDING, 6TH BLOCK

80 FEET ROAD, KORAMANGALA

BENGALURU-560095. .... APPELLANTS (BY MR. K.V. ARAVIND, ADVOCATE) AND: M/S. EXIDE LIFE INSURANCE CO. LTD., 3RD FLOOR, JP TECHNO PARK NO.3/1, MILLERS ROAD BANGALORE-560001 PAN No:AAACI 7940L. ... RESPONDENT - - - THIS I.T.A. IS FILED UNDER SEC. 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 13.12.2019 PASSED IN ITA NO.1004/BANG/2019 FOR THE ASSESSMENT YEAR 2013- 14, PRAYING TO:

2 (i) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED ABOVE. (ii) ALLOW THE APPEAL AND SET ASIDE THE ORDERS PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, BENGALURU IN ITA NO.1004/BANG/2019 DATED 13/12/2019 FOR ASSESSMENT YEAR 2013-14 ANNEXURE-A CONFIRMING THE ORDER OF THE APPELLATE COMMISSIONER AND CONFIRM THE ORDER PASSED BY THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1), BENGALURU. THIS I.T.A. COMING ON FOR ORDERS, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING: JUDGMENT Mr.K.V.Aravind, learned counsel for the revenue. Learned counsel for the revenue has filed a memo seeking leave of this Court to withdraw the appeal. The aforesaid memo is taken on record. 2. For the reasons assigned in the memo, the appeal is dismissed as withdrawn. Sd/- JUDGE Sd/- JUDGE RV

More judgments on Section 260-A

All 2,570 judgments and leading authorities on Section 260-A →

Recent GST High Court judgments

Search GST case law →