M/S PANCHAJANYA CHITS PVT LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

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ITA/421/2016HC KarnatakaKAHC01039953201619 April 2021Bench: ALOK ARADHE,M.G.S. KAMAL2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court took on record the memo filed by the learned counsel for the appellant seeking leave to withdraw the appeal. For the reasons stated in the memo, the Court dismissed the appeal as withdrawn. The Court granted liberty to the assessee to revive the appeal if the occasion arises. No decision was made on the merits of the substantial questions of law that were intended to be formulated, as the appeal was disposed of on a procedural ground.

What were the facts?

The appellant, M/s. Panchajanya Chits Pvt. Ltd., filed an appeal under Section 260-A of the Income Tax Act, 1961, before the High Court of Karnataka at Bengaluru. The appeal arose from an order dated May 11, 2016, passed in ITA No. 393/Bang/2013 for the Assessment Year 2009-10. The assessment order for the Assessment Year 2009-10 was dated December 26, 2011, and was passed by the Deputy Commissioner of Income Tax, Circle-12(2), Bangalore. The appellant sought to formulate substantial questions of law and call for the records from the lower authorities.

What were the issues?

The High Court was to consider the appeal filed by M/s. Panchajanya Chits Pvt. Ltd. against the order of the Income Tax Appellate Tribunal (ITAT) for the Assessment Year 2009-10. The specific substantial questions of law were to be formulated by the Court. The appellant, through its counsel, filed a memo seeking to withdraw the appeal. The respondent, Deputy Commissioner of Income Tax, was represented by counsel. No specific arguments from either side regarding the merits of the case were recorded in the judgment, as the appeal was withdrawn.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

1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 19TH DAY OF APRIL 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE M.G.S. KAMAL I.T.A. NO.421 OF 2016 BETWEEN: M/S. PANCHAJANYA CHITS PVT. LTD., NO.344, 1ST FLOOR VINAYAKA COMPLEX CHICKPET, BANGALORE-560053 PAN:AACCP5556H. REPRESENTED BY ITS MANAGING DIRECTOR AND AUTHORIZED SIGNATORY HOLDER MR. PRASHANTH R. DHONDALE AGED ABOUT 40 YEARS S/O D. RAMACHANDRASA. .... APPELLANT (BY MR. SHIVAPRASAD E, ADV.,) AND: DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-12(2), NO.14/3, 4TH FLOOR RASTROTHANA BHAVAN OPP. RBI, NRUPATHUNGA ROAD BANGALORE. ... RESPONDENT (BY MR. K.V. ARAVIND, ADV.,) - - - THIS I.T.A. IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 11.5.2016 PASSED IN

2 ITA 393/BANG/2013 FOR THE ASSESSMENT YEAR 2009-10, PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW AS STATED ABOVE OR FRAME SUCH OTHER QUESTIONS AS THIS HON'BLE COURT DEEMS IT FIT. CALL FOR THE ENTIRE LOWER COURT/APPELLATE TRIBUNAL/APPELLATE AUTHORITY/ASSESSING OFFICER RECORDS PERTAINING TO THE ASSESSMENT ORDER DATED 26.12.2011 FOR THE ASSESSMENT YEAR 2009-10, PERTAINING TO THE APPELLANT COMPANY BEARING PAN NO.AACCP556H, FROM THE RESPONDENT NO.01 AUTHORITY & ETC. THIS I.T.A. COMING ON FOR ORDERS, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING: JUDGMENT Mr.Shivaprasad E., learned counsel for the appellant 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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