THE PR.COMMISSIONER OF INCOME-TAX,CIT (A) vs. M/S ADCOCK INGRAM LTD

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ITA/62/2019HC KarnatakaKAHC01032967201928 May 2021Bench: SATISH CHANDRA SHARMA,R. NATARAJ2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court of Karnataka noted the submission made by the learned counsel for the appellants that the respondent-Company has opted for the Vivad Se Vishwas Scheme, 2020, with liberty to seek revival of the appeal if the need arises. This submission was placed on record. Consequently, the Court dismissed the appeal as withdrawn, granting the liberty as prayed for by the appellant. The specific findings of the ITAT on the merits of the transfer pricing issue or any other substantive matter were not adjudicated upon by the High Court due to the withdrawal of the appeal. The operative direction was to dismiss the appeal as withdrawn with liberty.

What were the facts?

The appeal was filed by the Principal Commissioner of Income-tax and the Deputy Commissioner of Income-tax against an order of the Income Tax Appellate Tribunal (ITAT), Bengaluru, for the Assessment Year 2012-2013. The ITAT's order was dated 03.08.2018 in IT(TP)A No.125/BANG/2017. The appellants sought to set aside the ITAT's order and confirm the order of the Dispute Resolution Panel (DRP), which in turn had confirmed the order of the Deputy Commissioner of Income-tax. The respondent is M/s. Adcock Ingram Ltd. The matter came up for hearing before the High Court of Karnataka.

What were the issues?

1. Whether the substantial questions of law, as stated in the appeal, warrant formulation by this Hon'ble Court? 2. Whether the appeal filed by the Revenue should be allowed, setting aside the order of the ITAT dated 03.08.2018 in IT(TP)A No.125/BANG/2017 for Assessment Year 2012-2013, and confirming the order of the DRP and the Deputy Commissioner of Income-tax? The Revenue contended that the respondent-Company has opted for the Vivad Se Vishwas Scheme, 2020, with liberty to seek revival of the appeal if needed. The Revenue's submission was placed on record. No specific arguments were recorded for the respondent-Company.

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 28TH DAY OF MAY, 2021

PRESENT

THE HON'BLE MR. JUSTICE SATISH CHANDRA SHARMA

AND

THE HON'BLE MR. JUSTICE NATARAJ RANGASWAMY

I.T.A. NO.62 OF 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-1(1)(2), PRESENT ADDRESS DCIT, CIRCLE-1(1)(1), 2ND FLOOR, BMTC BUILDING, 80 FEET ROAD, KORMANGALA, BENGALURU-560 095. ...APPELLANTS

(BY SRI. K.V.ARAVIND, ADVOCATE)

AND:

M/S. ADCOCK INGRAM LTD., NO.49 C & D, BOMMASANDRA INDUSTRIAL AREA, ANEKAL TALUK, BENGALURU-560 099. PAN:AAGCA 4343M …RESPONDENT (BY SRI. CHYTHANYA K.K., ADVOCATE)

THIS APPEAL IS FILED UNDER SECTION 260-A OF THE INCOME TAX ACT, 1961 ARISING OUT OF THE ORDER DATED 03.08.2018 PASSED IN IT(TP)A NO.125/BANG/2017, FOR THE ASSESSMENT YEAR 2012-2013, PRAYING THIS HON`BLE COURT TO (I) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED IN THE APPEAL AND (II) ALLOW THE APPEAL AND SET ASIDE THE ORDER PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, BENGALURU IN IT(TP)A NO.125/BANG/2017 DATED 03.08.2018 FOR ASSESSMENT YEAR 2012-2013 ANNEXURE-D AND CONFIRM THE ORDER OF THE DRP CONFIRMING THE ORDER PASSED BY THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), BENGALURU AND ETC.

THIS APPEAL COMING ON FOR HEARING THIS DAY, SATISH CHANDRA SHARMA J., DELIVERED THE FOLLOWING:

JUDGMENT

Learned counsel for appellants submits that the respondent-Company has opted for Vivad Se Vishwas Scheme, 2020, with liberty to seek revival of the same, if need arises. His submission is placed on record.

The appeal is dismissed as withdrawn with liberty as prayed for.

Sd/- JUDGE

Sd/- JUDGE sma

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