M/S. ANANTHA REFINERY PVT. LTD, vs. DEPUTY COMMISSIONER OF INCOME TAX

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ITA/285/2014HC KarnatakaKAHC01029463201404 January 2021Bench: ALOK ARADHE,V SRISHANANDA2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court of Karnataka considered a memo filed by the learned counsel for the assessee seeking leave to withdraw the appeal. The memo was taken on record. For the reasons assigned in the memo, the High Court dismissed the appeal as withdrawn. The assessee was granted liberty to revive the appeal if occasion so arises. No decision was made on the substantial questions of law or the merits of the ITAT's order.

What were the facts?

The assessee, M/s. Anantha Refinery Pvt Ltd., filed an appeal before the High Court of Karnataka against an order dated February 13, 2014, passed by the Income Tax Appellate Tribunal (ITAT) in ITA Nos. 1553 and 1554/Bang/2013. These appeals before the ITAT pertained to assessment years 2006-07 and 2007-08. The appeal before the High Court was filed under Section 260-A of the Income Tax Act, 1961. The assessee sought to formulate substantial questions of law and set aside the findings of the ITAT to the extent they were against the assessee. The revenue was represented by the Deputy Commissioner of Income Tax, Central Circle-1(2).

What were the issues?

1. Whether the substantial questions of law are to be formulated and answered in favour of the appellant (assessee)? 2. Whether the appeal is to be allowed and the findings of the ITAT are to be set aside to the extent against the appellant? Assessee's contention: The assessee, through its learned counsel, filed a memo seeking leave of the High Court to withdraw the appeal. No specific arguments on the merits of the case were recorded. Revenue's contention: The revenue, through its learned counsel, was present. No specific arguments on the merits of the case were recorded.

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 4TH DAY OF JANUARY 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE V. SRISHANANDA I.T.A. NO.285/2014 BETWEEN: M/S. ANANTHA REFINERY PVT LTD., REP. BY MR. N. RAVISHANKAR ITS MANAGING DIRECTOR SIDDAPURA VILLAGE BANGALORE ROAD CHALLAKERE-577522. .... APPELLANT (BY MR. M. LAVA, ADV.,) AND: DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(2) C.R. BUILDING, QUEEN'S ROAD BANGALORE-560001.

... RESPONDENT (BY MR. K.V. ARAVIND, ADV.,) - - - THIS I.T.A. IS FILED UNDER SEC. 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 13.02.2014 PASSED IN ITA NO.1553 AND 1554/BANG/2013 FOR THE ASSESSMENT YEAR 2006-07 & 2007-08, PRAYING TO: (i) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW AS STATED ABOVE AND ANSWER THE SAME IN FAVOUR OF THE APPELLANT. (ii) ALLOW THE APPEAL AND SET ASIDE THE FINDINGS TO THE EXTENT AGAINST THE APPELLANT IN THE COMMON ORDER

2 PASSED BY THE ITAT IN ITA NOS.1553 AND 1554/BANG/2013 DATED 13.02.2014 FOR THE ASSESSMENT YEAR 2006-07 AND 2007-08 RESPECTIVELY. THIS I.T.A. COMING ON FOR HEARING, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING: JUDGMENT Mr.M.Lava, learned counsel for the assessee. Mr.K.V.Aravind, learned counsel for the revenue. Learned counsel for the assessee 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 with liberty to the assessee to revive the same if occasion so arises. Sd/- JUDGE Sd/- JUDGE RV

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