PRAXAIR INDIA PRIVATE LTD vs. ASSISTANT COMMISSIONER OF INCOME TAX

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ITA/680/2016HC KarnatakaKAHC01050221201622 February 2021Bench: ALOK ARADHE,R. NATARAJ2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court took on record the memo filed by the assessee's counsel seeking leave to withdraw the appeal. For the reasons stated in the memo, the High Court dismissed the appeal as withdrawn.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 to be formulated.

What were the facts?

The assessee, Praxair India Private Ltd., filed an appeal before the High Court of Karnataka against an order dated July 27, 2016, passed by the Income Tax Appellate Tribunal (ITAT) in IT (TP) A No.23/Bang/2012. This order pertained to the assessment year 2007-2008. The appeal was filed under Section 260-A of the Income Tax Act, 1961. The revenue was represented by the Assistant Commissioner of Income Tax, LTU, Bangalore. The appeal was listed for hearing on February 22, 2021.

What were the issues?

The High Court was to decide the substantial questions of law arising from the ITAT's order dated July 27, 2016, concerning the assessment year 2007-2008. The specific questions of law were not detailed in the provided text, but the appeal sought to set aside the findings of the ITAT to the extent they were against the appellant. The assessee's counsel filed a memo seeking leave to withdraw the appeal. The revenue's counsel was present. No specific arguments from either side regarding the merits of the case or the substantial questions of law were recorded.

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 22ND DAY OF FEBRUARY, 2021

PRESENT

THE HON’BLE MR.JUSTICE ALOK ARADHE

AND

THE HON’BLE MR.JUSTICE NATARAJ RANGASWAMY

I.T.A. NO.680 OF 2016

BETWEEN:

PRAXAIR INDIA PRIVATE LTD., POST BOX NO.4251, NO.8, ULSOOR ROAD, BANGALORE-560042. ...APPELLANT (BY SRI. ANKURPAI, ADVOCATE FOR SRI. K.R.VASUDEVAN, ADVOCATE)

AND:

ASSISTANT COMMISSIONER OF INCOME TAX, LTU, JSS TOWERS, 100 FEET ROAD, BANSHANKARI 3RD STAGE, BANGALORE-560085.

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

THIS APPEAL IS FILED UNDER SECTION 260-A OF THE INCOME TAX ACT, 1961 ARISING OUT OF ORDER DATED 27.07.2016 PASSED IN IT (TP) A NO.23/Bang/2012, FOR THE ASSESSMENT YEAR 2007-2008 PRAYING TO; (a) FORMULATE THE SUBSTANTIAL QUESTION OF LAW STATED ABOVE AND ANSWER THE SAME IN FAVOUR OF THE APPELLANT;

2 (b) ALLOW THE APPEAL AND SET ASIDE THE FINDINGS TO THE EXTENT AGAINST THE APPELLANT IN THE ORDER PASSED BY THE HON’BLE ITAT IN IT (TP) A NO.23/Bang/2012 DATED 27.07.2016 (ANNEXURE-E) IN THE INTEREST OF JUSTICE AND EQUITY.

THIS APPEAL COMING ON FOR HEARING THIS DAY, ALOK ARADHE, J., DELIVERED THE FOLLOWING:

JUDGMENT Mr.Ankur Pai, learned counsel for Mr.K.R.Vasudevan, learned counsel for the assessee. Mr.K.V.Aravind, learned counsel for the revenue.

Learned counsel for the assessee has filed a memo seeking leave of this Court to withdraw the appeal.

2.

The aforesaid memo is taken on record. For the reasons assigned in the memo, the appeal is dismissed as withdrawn with liberty to revive the same in case the occasion so arises.

Sd/- JUDGE

Sd/- JUDGE GH

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