PR. COMMISSIONER OF vs. M/S MYSORE MERCANTILE CO LTD

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ITA/300/2016HC KarnatakaKAHC01030441201610 October 2017Bench: L.NARAYANA SWAMY (AG.CJ),P.S.DINESH KUMAR2 pages
AI SummaryDismissed

What did the High Court hold?

The High Court of Karnataka, while hearing the appeal, noted the submission made by the learned counsel for the appellants. The counsel fairly conceded that the questions raised in the present appeal had already been decided against the appellants by this Court in the case of CIT v. Subhash Kabini Power Corporation Ltd. [(2016) 385 ITR 592 (Karn)]. Based on this concession and the binding precedent, the Court found no merit in entertaining the appeal further. Consequently, the appeal was dismissed. No specific findings on the merits of the ITAT's order were made, as the appeal was disposed of based on the admitted position of law as established by the earlier judgment.

What were the facts?

The appellants, the Principal Commissioner of Income Tax-4 and Commissioner of Income Tax Officer-III, Bangalore, filed an appeal under Section 260-A of the Income Tax Act, 1961, against the order dated 04.11.2015 passed by the Income Tax Appellate Tribunal (ITAT), 'B' Bench, Bengaluru. The appeal pertains to the assessment year 2009-2010. The respondent is M/s Mysore Mercantile Co. Ltd. The appellants sought to formulate substantial questions of law and set aside the ITAT's order.

What were the issues?

1. Whether the ITAT erred in its decision regarding the substantial questions of law arising from the assessment for the assessment year 2009-2010, as per Section 260-A of the Income Tax Act, 1961. The appellants' contention was that the questions raised in this appeal were answered against them by this Court in the case of CIT v. Subhash Kabini Power Corporation Ltd. [(2016) 385 ITR 592 (Karn)]. The revenue did not present any specific arguments beyond this submission regarding the precedent.

Which sections of the Income-tax Act were involved?

Section 260-A

AI-generated summary — verify with the full judgment below

ITA No.300/2016

-1-

IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 10TH DAY OF OCTOBER 2017

PRESENT

THE HON’BLE MR.H.G.RAMESH ACTING CHIEF JUSTICE

AND

THE HON’BLE MR. JUSTICE P.S.DINESH KUMAR INCOME TAX APPEAL NO.300/2016

BETWEEN :

1.

PR. COMMISSIONER OF INCOME TAX-4 BMTC COMPLEX KORMANGALA, BANGALORE

2.

COMMISSIONER OF INCOME

TAX OFFICER-III

BANGALORE

...APPELLANTS

(BY SRI SANMATHI E.I, ADVOCATE)

AND :

M/S MYSORE MERCANTILE CO. LTD. NO.201 & 202, ‘SHRESTHA BUMI’ NO.87, K.R.ROAD BASAVANAGUDI BANGALORE – 560 004

...RESPONDENT

(BY SRI BALARAM R. RAO, ADVOCATE)

THIS INCOME TAX APPEAL IS FILED UNDER SECTION 260-A OF I.T.ACT, 1961 PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW AND TO SET ASIDE THE ORDER DATED 04.11.2015 IN ITA NO.489/BANG/2014 FOR THE

ITA No.300/2016

-2-

ASSESSMENT YEAR 2009-2010 PASSED BY THE ITAT, ‘B’ BENCH, BENGALURU.

THIS INCOME TAX APPEAL COMING ON FOR ADMISSION, THIS DAY, THE ACTING CHIEF JUSTICE, DELIVERED THE FOLLOWING:

JUDGMENT Ag.CJ (Oral):

Learned Counsel appearing for the appellants fairly submits that the questions raised in this appeal are answered against the appellants by this Court in CIT v. Subhash Kabini Power Corporation Ltd. [(2016) 385 ITR 592 (Karn)]. The appeal is accordingly dismissed.

Appeal dismissed.

Sd/-

ACTING CHIEF JUSTICE

Sd/-

JUDGE

KSR

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