THE PR. COMMISSIONER OF INCOME TAX CIT (A) vs. M/S FNF INDIA PVT LTD

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ITA/489/2019HC KarnatakaKAHC01027011201926 February 2021Bench: SATISH CHANDRA SHARMA,V SRISHANANDA2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court noted that the respondent had filed a memo dated 24.02.2021, informing the Court that the matter had been amicably settled between the parties under the Vivad-se-Vishwas Scheme. Consequently, the respondent sought permission to withdraw the appeal. The Court allowed the said memo and dismissed the appeal as withdrawn. No decision was made on the merits of the substantial questions of law that might have been raised in the appeal.

What were the facts?

The appeal was filed by the Principal Commissioner of Income-Tax and the Deputy Commissioner of Income-Tax (appellants) against M/s FNF India Pvt. Ltd (respondent). The appeal challenged an order passed by the Income Tax Appellate Tribunal, Bengaluru, for the Assessment Year 2010-2011. The appellants sought to set aside the Tribunal's order and confirm the orders passed by the Dispute Resolution Panel and the Deputy Commissioner of Income-Tax. The respondent company was formerly known as FNF Business Process Outsourcing Services Pvt. Ltd.

What were the issues?

1. Whether the substantial questions of law, as stated in the appeal, warrant formulation and consideration by this Hon'ble Court. Assessee's Contention: The respondent has filed a memo intimating that the matter has been amicably settled between the parties under the Vivad-se-Vishwas Scheme and seeks permission to withdraw the appeal. Revenue's Contention: The revenue, as the appellant, is seeking to challenge the order of the Income Tax Appellate Tribunal. However, the judgment records no specific arguments from the revenue regarding the substantive issues of the appeal, other than their prayer to set aside the Tribunal's order.

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 26TH DAY OF FEBRUARY, 2021 PRESENT THE HON’BLE MR. JUSTICE SATISH CHANDRA SHARMA AND THE HON’BLE MR. JUSTICE V. SRISHANANDA I.T.A. NO. 489/2019 BETWEEN: 1. THE PR. COMMISSIONER OF

INCOME-TAX, CIT(A)

5TH FLOOR, BMTC BUILDING

80 FEET ROAD, KORMANGALA

BENGALURU-560 095. 2. THE DEPUTY COMMISSIONER OF INCOME-TAX

CIRCLE-3(1)(2), PRESENT ADDRESS

CIRCLE-3(1)(1), 2ND FLOOR, BMTC BUILDING

80 FEET ROAD, KORMANGALA

BENGALURU-560 095. .... APPELLANTS (BY SRI ARAVIND K.V, ADVOCATE) AND: M/S FNF INDIA PVT. LTD (FORMERLY KNOWN AS FNF BUSINESS PROCESS OUTSOURCING SERVICES PVT. LTD) SURVEY NO.46(P) & 47 (P) ELECTRONIC CITY, PHASE-II HOSUR ROAD, BENGALURU – 560 100 PAN: AAECP 1100B ... RESPONDENT (BY SRI K.R.VASUDEVAN, ADVOCATE)

2 THIS I.T.A. IS FILED UNDER SEC. 260-A OF INCOME TAX ACT 1961, PRAYING THIS HON’BLE COURT TO: FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED THEREIN AND ALLOW THE APPEAL AND SET ASIDE THE ORDERS PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, BENGALURU IN IT(TP)A NO.221/BANG/2015 DATED 31.01.2019 FOR ASSESSMENT YEAR 2010-2011 ANNEXURE-D AND CONFIRM THE ORDER OF THE DRP CONFIRMING THE ORDER PASSED BY THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1), BENGALURU AND TO PASS SUCH OTHER SUITABLE ORDERS AS THIS HON’BLE COURT DEEMS FIT TO GRANT IN THE FACTS AND CIRCUMSTANCES OF THE CASE IN THE INTEREST OF JUSTICE AND EQUITY. THIS I.T.A. COMING ON FOR ORDERS THIS DAY, SATISH CHANDRA SHARMA J., DELIVERED THE FOLLOWING: JUDGMENT Learned counsel for the respondent has filed a memo dated 24.02.2021 intimating that this matter has been amicably settled between the parties under Vivad-se- Vishwas Scheme and seeks permission of the Court to withdraw the appeal.

The said memo is allowed. The appeal is dismissed as withdrawn. Sd/-

JUDGE Sd/- JUDGE KGR*

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