M/S. RAVIPRAKASH REFINERIES PVT LTD, vs. DEPUTY COMMISSIONER OF INCOME TAX

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ITA/287/2014HC KarnatakaKAHC01029465201417 December 2020Bench: ALOK ARADHE,H.T. NARENDRA PRASAD2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court took on record a memo filed by the learned counsel for the assessee seeking leave to withdraw the appeal. For the reasons assigned in the memo, the High Court dismissed the appeal as withdrawn.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 the occasion arose. No decision was made on the substantial questions of law or the merits of the ITAT's order.

What were the facts?

The appeal was filed by M/s. Raviprakash Refineries Pvt Ltd against an order dated February 13, 2014, passed by the Income Tax Appellate Tribunal (ITAT) in ITA Nos. 1551 & 1552/Bang/2013. These appeals before the ITAT pertained to the assessment years 2006-07 and 2007-08. The assessee, M/s. Raviprakash Refineries Pvt Ltd, represented by its Director Mr. N.T. Prakash, challenged the ITAT's findings. The revenue was represented by the Deputy Commissioner of Income Tax, Central Circle-1(2), Bangalore. The present appeal before the High Court was filed under Section 260-A of the Income Tax Act, 1961.

What were the issues?

The substantial questions of law were to be formulated and answered in favour of the appellant. The primary issue was whether the High Court should allow the appeal and set aside the findings to the extent they were against the appellant in the common order passed by the ITAT. The assessee's counsel sought leave to withdraw the appeal. The revenue's counsel was present. No specific arguments from either side regarding the merits of the ITAT's order were recorded in the judgment, as the appeal was withdrawn at the outset.

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 17TH DAY OF DECEMBER 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD I.T.A. NO.287 OF 2014 BETWEEN: M/S. RAVIPRAKASH REFINERIES PVT LTD REP. BY ITS DIRECTOR MR. N.T. PRAKASH POST BOX NO.18, A.G. ROAD CHALLAKERE-577522. ... APPELLANT (BY SRI. V. CHANDRASHEKHAR, ADV., & SRI. M. LAVA, ADV.,) AND: DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(2) C.R. BUILDING, QUEEN'S ROAD BANGALORE-560001. ... RESPONDENT (BY SRI. K.V. ARAVIND, ADV.,) - - - THIS ITA IS FILED UNDER SECTION 260-A OF I.T. ACT, 1961 ARISING OUT OF ORDER DATED 13.02.2014 PASSED IN ITA NOS.1551 & 1552/BANG/2013, FOR THE ASSESSMENT YEAR 2006-07 & 2007-08, PRAYING TO: (I) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW AS STATED ABOVE AND ANSER THE SAME IN FAVOUR OF THE APPELLANT.

2 (II) ALLOW THE APPEAL AND SET ASIDE THE FINDINGS TO THE EXTENT AGAINST THE APPELLANT IN THE COMMON ORDER PASSED BY THE INCOME TAX APPELLATE TRIBUNAL IN ITA NOS.1551 & 1552/BANG/2013 DATED 13.02.2014 FOR THE ASSESSMENT YEARS 2006-07 AND 2007-08 RESPECTIVELY. THIS ITA COMING ON FOR HEARING, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING: JUDGMENT Mr.V.Chandrashekar, 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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