TTK PRESTIGE LTD vs. THE ASSISTANT COMMISSIONER OF

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ITA/308/2014HC KarnatakaKAHC01026104201415 September 2020Bench: ALOK ARADHE,H.T. NARENDRA PRASAD2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court noted that the learned counsel for the assessee had filed a memo seeking leave to withdraw the appeal. This memo was taken on record. Consequently, the High Court dismissed the appeal as withdrawn. No decision was made on the merits of the case or the substantial questions of law that were intended to be formulated. The operative direction was to dismiss the appeal.

What were the facts?

The assessee, TTK Prestige Ltd., filed an appeal before the High Court of Karnataka at Bengaluru against an order dated April 11, 2014, passed by the Income Tax Appellate Tribunal (ITAT) in ITA No. 1257/Bang/2011. This appeal pertained to the assessment year 2005-06. The appeal was filed under Section 260-A of the Income Tax Act, 1961. The revenue was represented by the Assistant Commissioner of Income Tax, Circle-12(4), Bangalore. The High Court was considering the appeal for final hearing.

What were the issues?

The High Court was asked to formulate substantial questions of law and allow the appeal, setting aside the ITAT's order dated April 11, 2014. The specific substantial questions of law were not detailed in the provided text, but the appeal itself was filed under Section 260-A of the Income Tax Act, 1961, which typically involves questions of law. The assessee's contention was to allow the appeal and set aside the order. The revenue's contention was not recorded in the provided text.

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 15TH DAY OF SEPTEMBER 2020

PRESENT

THE HON’BLE MR. JUSTICE ALOK ARADHE

AND

THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD

I.T.A. NO.308 OF 2014

BETWEEN:

TTK PRESTIGE LTD., 11TH FLOOR, BRIGADE TOWERS 135, BRIGADE ROAD BANGALORE-560025. ... APPELLANT (BY Dr. R.B. KRISHNA, ADV.)

AND:

THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-12(4), 4TH FLOOR RASHTROTHANA BHAVAN NRUPATHUNGA ROAD, OPP. RBI BANGALORE-560001. ... RESPONDENT (BY SRI. E.I. SANMATHI, FOR SRI. JEEVAN J. NEERALGI, ADV.,)

THIS I.T.A. IS FILED UNDER SECTION 260-A OF I.T.ACT, 1961, ARISING OUT OF ORDER DATED 11-04-2014 PASSED IN ITA NO.1257/BANG/2011, FOR THE ASSESSMENT YEAR 2005-06, PRAYING TO: I. FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED ABOVE.

II. ALLOW THE APPEAL AND SET ASIDE THE ORDER DATED 11-04-2014 IN ITA NO.1257/BANG/2011 FOR THE ASSESSMENT YEAR 2005-06.

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

JUDGMENT

Dr.R.B.Krishna, learned counsel for the assessee. Mr.E.I.Sanmathi, learned counsel for the revenue.

2.

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. In the result, the appeal is dismissed as withdrawn.

Sd/- JUDGE

Sd/- JUDGE

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