TTK PRESTIGE LTD vs. THE DEPUTY COMMISSIONER OF

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ITA/310/2014HC KarnatakaKAHC01020278201415 September 2020Bench: ALOK ARADHE,H.T. NARENDRA PRASAD2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court of Karnataka took on record a memo filed by the assessee, TTK Prestige Ltd., seeking leave to withdraw the appeal. Consequently, the High Court dismissed the appeal as withdrawn. No decision was made on the merits of the substantial questions of law that were to be formulated. The operative direction was to dismiss the appeal. No issues were expressly left undecided as the appeal was disposed of on a procedural ground.

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), Bangalore Bench, in ITA No.131/BANG/2011. This appeal pertained to the assessment year 2007-08. The revenue was represented by the Deputy Commissioner of Income Tax, Circle-12(4). The appeal was filed under Section 260-A of the Income Tax Act, 1961. The High Court was to consider substantial questions of law formulated by the assessee and decide whether to allow the appeal and set aside the ITAT's order.

What were the issues?

1. Whether the High Court should formulate substantial questions of law arising from the ITAT's order dated April 11, 2014, in ITA No.131/BANG/2011 for the assessment year 2007-08. Assessee's contention: The assessee, TTK Prestige Ltd., sought to withdraw the appeal filed under Section 260-A of the Income Tax Act, 1961. No specific arguments or reliance on authorities were recorded in the judgment regarding the merits of the case as the appeal was withdrawn. Revenue's contention: The revenue, represented by the Deputy Commissioner of Income Tax, was present through its counsel. No specific arguments or reliance on authorities were recorded in the judgment regarding the merits of the case as the appeal was withdrawn.

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.310 OF 2014

BETWEEN:

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

AND:

THE DEPUTY 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.131/BANG/2011, FOR THE ASSESSMENT YEAR 2007-08, 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.131/BANG/2011 FOR THE ASSESSMENT YEAR 2007-08.

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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