M/S SEA ROCK INVESTMENTS LTD vs. THE DEPUTY COMMISSIONER

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ITA/682/2017HC KarnatakaKAHC01040190201715 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 learned counsel for the appellant seeking leave to withdraw the appeal. For the reasons assigned in the memo, the High Court dismissed the appeal as withdrawn. The court granted liberty to the appellant to revive the appeal in case occasion arises. No decision was made on the merits of the case, and the specific findings or reasoning of the ITAT were not discussed or adjudicated upon by the High Court. The operative direction was the dismissal of the appeal as withdrawn.

What were the facts?

The appellant, M/s Sea Rock Investments Ltd., filed an appeal before the High Court of Karnataka against an order dated May 1, 2017, passed by the Income Tax Appellate Tribunal (ITAT) in ITA No.1323/BANG/2012. This appeal pertained to the assessment year 1996-97. The revenue was represented by the Deputy Commissioner of Income-tax, Circle-1. The appeal was filed under Section 260-A of the Income Tax Act, 1961, seeking to set aside the ITAT's order concerning the appellant's appeal for the specified assessment year. The High Court was to consider substantial questions of law.

What were the issues?

The primary issue before the High Court was whether to allow the appeal filed by M/s Sea Rock Investments Ltd. against the ITAT's order dated May 1, 2017, for the assessment year 1996-97. The appellant sought to have the ITAT's order set aside. The judgment does not explicitly state the specific substantial questions of law that were to be formulated or decided. The appellant's counsel filed a memo seeking leave to withdraw the appeal. The revenue's counsel was present. No arguments were recorded for either the appellant or the revenue regarding the merits of the case, as the appeal was withdrawn.

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 15TH DAY OF FEBRUARY 2021

PRESENT

THE HON’BLE MR. JUSTICE ALOK ARADHE

AND

THE HON’BLE MR. JUSTICE NATARAJ RANGASWAMY

I.T.A. NO.682 OF 2017

BETWEEN:

M/S SEA ROCK INVESTMENTS LTD., SYNDICATE HOUSE, MANIPAL – 576104, REPRESENTED BY ITS

SRI P.P.MURALIDHARAN AGED ABOUT 58 YEARS, SON OF SRI KARUNAKARAN K .... APPELLANT

(BY SMT.PRATIBHA.R, ADV. FOR SRI.S.PARTHASARATHI., ADV.)

AND:

THE DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-1, AYAKAR BHAVAN, MALPE ROAD, AMBALPADY POST, ADIUDUPI, UDUPI – 576 103.

... RESPONDENT

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

THIS I.T.A. IS FILED UNDER SEC. 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 01/05/2017 PASSED

IN ITA NO.1323/BANG/2012, FOR THE ASSESSMENT YEAR 1996- 97, PRAYING TO:- (A) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED ABOVE; (B) ALLOW THE APPEAL AND SET-ASIDE THE ORDER OF THE ITAT DATED: 01/05/2017 IN SO FAR AS IT PERTAINS TO THE APPELLANT’S APPEAL IN ITA NO.1323/BANG/2012 FOR THE ASSESSMENT YEAR 1996-97; AND (C) PASS SUCH OTHER SUITABLE ORDERS AS THIS HON’BLE COURT DEEMS FIT TO GRANT ON THE FACTS AND CIRCUMSTANCES OF THE CASE IN THE INTEREST OF JUSTICE AND EQUITY.

THIS I.T.A. COMING ON FOR FINAL HEARING, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING:

JUDGMENT

Smt.Pratibha.R, learned counsel appearing for Sri.S.Parthasarathi, learned counsel for the appellant.

Sri.K.V.Aravind, learned counsel for the revenue.

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.

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

Sd/- JUDGE

Sd/- JUDGE

dn/-

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