THE PR. COMMISSIONER OF vs. M/S KAVERI GRAMEENA BANK

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ITA/333/2017HC KarnatakaKAHC01032535201722 November 2017Bench: L.NARAYANA SWAMY (AG.CJ),P.S.DINESH KUMAR2 pages
AI SummaryWithdrawn

What did the High Court hold?

The learned counsel appearing for the appellants (Revenue) sought leave to withdraw the appeal. Leave was granted by the Court. Consequently, the appeal was disposed of as withdrawn. The High Court did not adjudicate on the merits of the ITAT's order or the substantial questions of law that the Revenue sought to formulate. No finding was reached on any specific issue related to the assessment year 2009-10 or the ITAT's order. The operative direction was to dispose of the appeal as withdrawn.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax and the Assistant Commissioner of Income Tax, Mysore (the Revenue), against M/s. Kaveri Grameena Bank (formerly Cauvery Kalpatharu Grameena Bank) (the Assessee). The appeal challenges an order dated 18/11/2016 passed by the Income Tax Appellate Tribunal (ITAT), Bengaluru, in ITA No.1049/BANG/2013 for the Assessment Year 2009-10. The High Court of Karnataka at Bengaluru heard the appeal. The procedural history involves the Revenue filing this appeal under Section 260-A of the Income Tax Act, 1961, seeking to formulate substantial questions of law and set aside the ITAT's order.

What were the issues?

1. Whether substantial questions of law arise for consideration in this appeal, warranting interference with the ITAT's order dated 18/11/2016 in ITA No.1049/BANG/2013 for the Assessment Year 2009-10? (Question of law) The Revenue's contention is that substantial questions of law arise from the ITAT's order, which they seek to have set aside. No specific arguments or reliance on authorities by the Revenue are recorded in the judgment regarding the merits of the ITAT's decision. The Assessee's contention is not recorded in the judgment. The judgment only notes the appearance of counsel for the respondent (Assessee).

Which sections of the Income-tax Act were involved?

Section 260-A

AI-generated summary — verify with the full judgment below

ITA No.333/2017

-1- IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 22ND DAY OF NOVEMBER 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.333/2017

BETWEEN :

1.

THE PR. COMMISSIONER OF INCOME TAX, CIT(A) 55/1, SHILPASHREE VIDHYARANYA COMPLEX MYSORE-570 008

2.

THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(2) 55/1, SHILPASHREE VIDHYARANYA COMPLEX MYSORE-570 008

...APPELLANTS

(BY SRI K.V.ARAVIND, ADVOCATE)

AND:

M/S.KAVERI GRAMEENA BANK (FORMERLY CAUVERY KALPATHARU GRAMEENA BANK), CA-20 2ND STAGE, VIJAYANAGARA MYSORE

...RESPONDENT

(BY SRI A.SHANKAR & SRI M.LAVA, ADVOCATES)

THIS INCOME TAX APPEAL IS FILED UNDER SECTION 260-A OF INCOME TAX ACT, 1961, PRAYING TO FORMULATE THE

ITA No.333/2017

-2- SUBSTANTIAL QUESTIONS OF LAW AND TO SET ASIDE THE ORDER DATED 18/11/2016 PASSED IN ITA NO.1049/BANG/2013 FOR THE ASSESSMENT YEAR 2009-10 BY THE ITAT, 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 seeks leave to withdraw the appeal. Leave granted. The appeal is accordingly disposed of as withdrawn. Appeal disposed of.

Sd/-

ACTING CHIEF JUSTICE

Sd/-

JUDGE

bkv

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