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

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ITA/632/2017HC KarnatakaKAHC01039060201719 April 2021Bench: ALOK ARADHE,M.G.S. KAMAL2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court considered the memo filed by the learned counsel for the appellant seeking leave to withdraw the appeal. The Court took the memo on record and, for the reasons assigned therein, dismissed the appeal as withdrawn. The Court granted liberty to the assessee to revive the appeal if occasion so arises. No decision was made on the merits of the case.

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. The appeal challenged an assessment order dated February 22, 2013, for the Assessment Year 2010-11. The respondent was the Deputy Commissioner of Income Tax, Circle-12(2). The appeal was filed by the assessee company, represented by its Managing Director. The case came up for orders before the High Court.

What were the issues?

The primary issue before the High Court was to formulate substantial questions of law arising from the assessment order dated February 22, 2013, for the Assessment Year 2010-11, concerning the appellant company. The appellant, through its counsel, sought leave to withdraw the appeal. The judgment does not record any specific arguments made by the revenue.

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.632 OF 2017 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), NEW CIRCLE 5(1)(1) NO.14/3, 4TH FLOOR RASTROTHANA BHAVAN OPP. RBI, NRUPATHUNGA ROAD BANGALORE. ... RESPONDENT (BY MR. T.N.C. SRIDHAR, ADV., FOR MR. SANMATHI E.I. ADV.,) - - -

2 THIS I.T.A. IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW AS STATED ABOVE OR FRAME SUCH OTHER QUESTION OR 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 22.2.2013 FOR THE ASSESSMENT YEAR 2010-11, 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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