THE PR.COMMISSIONER vs. M/S CENTUM ELECTRONICS LTD

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ITA/50/2017HC KarnatakaKAHC01019737201701 August 2017Bench: K.S.MUDAGAL,H.G.RAMESH2 pages
AI SummaryDismissed

What did the High Court hold?

The High Court of Karnataka dismissed the appeal. The Court noted that the learned counsel for the appellants (Revenue) fairly submitted that the question raised in this appeal had already been answered against the appellants by this Court in the case of CIT v. Yokogawa India Ltd. [(2012) 341 ITR 385 (Karn)]. Based on this concession and the precedent set by the earlier judgment, the appeal was accordingly dismissed. No specific issue was left undecided; the appeal was disposed of based on the established legal position.

What were the facts?

This case involves an appeal filed by the Principal Commissioner of Income-Tax and the Deputy Commissioner of Income-Tax (the Revenue) against an order passed by the Income Tax Appellate Tribunal (ITAT). The assessment year in question is 2004-2005. The appeal is filed under Section 260-A of the Income Tax Act, 1961, challenging the ITAT's order in ITA No. 794/BANG/2012, dated May 11, 2016. The respondent in this appeal is M/s. Centum Electronics Ltd. The High Court of Karnataka is hearing the appeal.

What were the issues?

1. Whether the substantial question of law raised in this appeal is to be formulated and decided. The Revenue's contention is that the question raised in this appeal has been answered against them by this Court in the case of CIT v. Yokogawa India Ltd. [(2012) 341 ITR 385 (Karn)]. The Revenue does not appear to have presented any arguments against this submission. The assessee's contentions are not recorded in the judgment.

Which sections of the Income-tax Act were involved?

Section 260-A

AI-generated summary — verify with the full judgment below

ITA No.50/2017

-1-

IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 01ST DAY OF AUGUST 2017

PRESENT

THE HON’BLE MR. JUSTICE H.G.RAMESH

AND

THE HON’BLE MRS. JUSTICE K.S.MUDAGAL

INCOME TAX APPEAL NO.50/2017

BETWEEN :

1.

THE PR.COMMISSIONER OF INCOME-TAX

CIT (A), 5TH FLOOR, BMTC BUILDING

80 FEET ROAD, KORAMANGALA

BENGALURU-560 095

2.

THE DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-11(2) PRESENT ADDRESS CIRCLE-2(1)(1)

2ND FLOOR, BMTC BUILDING

80 FEET ROAD, KORAMANGALA

BENGALURU-560 095

...APPELLANTS

(BY SRI ARAVIND.K.V. ADVOCATE)

AND :

M/S.CENTUM ELECTRONICS LTD. NO.44, KHB INDUSTRIAL AREA YELAHANKA NEW TOWN BENGALURU PAN: AAACC7369P

...RESPONDENT

THIS INCOME TAX APPEAL IS FILED UNDER SECTION 260-A OF I.T.ACT, 1961 PRAYING TO FORMULATE THE SUBSTANTIAL QUESTION OF LAW AND TO SET ASIDE THE APPELLATE ORDER DATED:11.05.2016 PASSED BY THE ITAT IN

ITA No.50/2017

-2-

ITA NO.794/BANG/2012, FOR THE ASSESSMENT YEAR 2004- 2005.

THIS INCOME TAX APPEAL COMING ON FOR ADMISSION, THIS DAY, H.G.RAMESH J., DELIVERED THE FOLLOWING:

JUDGMENT

H.G.RAMESH, J. (Oral):

Learned counsel for the appellants fairly submits that the question raised in this appeal is answered against the appellants by this Court in CIT v. Yokogawa India Ltd. [(2012) 341 ITR 385 (Karn)]. The appeal is accordingly dismissed.

Appeal dismissed.

Sd/-

JUDGE

Sd/-

JUDGE

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