THE COMMISSSIONER OF INCOME TAX vs. M/S STATE BANK OF MYSORE

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ITA/752/2017HC KarnatakaKAHC01041537201705 June 2018Bench: H.T. NARENDRA PRASAD,RAGHVENDRA S.CHAUHAN2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court noted that the learned counsel for the appellants had filed a memo for withdrawing the appeal. The memo was taken on record. Consequently, the High Court dismissed the appeal as withdrawn. No decision was made on the merits of the case, and therefore, no specific findings or reasoning were provided by the court regarding the substantive issues that might have been raised in the appeal.

What were the facts?

The appellants, the Commissioner of Income-Tax and the Joint Commissioner of Income-Tax, filed an appeal under Section 260-A of the Income Tax Act, 1961, before the High Court of Karnataka. The appeal was against an order dated 24.03.2017 passed by the Income-Tax Appellate Tribunal (ITAT), Bengaluru, in ITA No.440/BANG/2013. The ITAT's order had confirmed the order of the Appellate Commissioner, which in turn had presumably overturned or modified an order passed by the Joint Commissioner of Income-Tax, LTU, Bengaluru. The assessment year in question was 2007-2008. The respondent in the appeal was M/s. State Bank of Mysore.

What were the issues?

The High Court was asked to formulate substantial questions of law. The appellants sought to allow the appeal, set aside the ITAT's order, and confirm the order of the Joint Commissioner of Income-Tax. The judgment does not explicitly state the specific questions of law or the arguments made by either the assessee or the revenue. It only records that the appellants' counsel filed a memo for withdrawing the appeal.

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 5TH DAY OF JUNE 2018

PRESENT

THE HON'BLE MR. JUSTICE RAGHVENDRA S. CHAUHAN

AND

THE HON’BLE MR. JUSTICE H. T. NARENDRA PRASAD I.T.A.No.752/2017

BETWEEN:

1.

THE COMMISSIONER OF INCOME-TAX, LTU, JSS TOWERS, BSK III STAGE, BENGALURU-560085.

2.

THE JOINT COMMISSIONER OF INCOME-TAX, LTU, C.R.BUILDING, JSS TOWERS, BSK III STAGE, BENGALURU-560085.

...APPELLANTS

(BY SRI K. V. ARAVIND, ADVOCATE)

AND:

M/S. STATE BANK OF MYSORE, HEAD OFFICE, K.G.ROAD, BENGALURU-560009.

... RESPONDENT

(BY SRI T. SURYANARAYANA, ADVOCATE)

THIS I.T.A. IS FILED UNDER SECTION 260-A OF THE INCOME TAX ACT, 1961, ARISING OUT OF ORDER DATED 24.03.2017 PASSED IN ITA NO.440/BANG/2013, FOR THE ASSESSMENT YEAR 2007-2008, PRAYING THIS HON'BLE COURT TO: I. FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED ABOVE. II. ALLOW THE APPEAL AND SET ASIDE THE ORDERS PASSED BY THE INCOME-TAX APPELLATE TRIBUNAL, BENGALURU IN ITA NO.440/BANG/2013 DATED 24.3.2017 CONFIRMING THE ORDER OF THE APPELLATE COMMISSIONER AND

2 CONFIRM THE ORDER PASSED BY THE JOINT COMMISSIONER OF INCOME TAX, LTU, BENGALURU. III. TO PASS SUCH OTHER SUITABLE ORDERS AS THIS HON'BLE COURT DEEMS FIT TO GRANT IN THE FACTS AND CIRCUMSTANCES OF THE CASE IN THE INTEREST OF JUSTICE AND EQUITY.

THIS I.T.A. COMING ON FOR ORDERS THIS DAY, RAGHVENDRA S. CHAUHAN J, DELIVERED THE FOLLOWING:

J U D G M E N T

The learned counsel for the appellants has filed a memo for withdrawing the appeal. The memo shall be taken on record.

2.

The appeal is, hereby, dismissed as withdrawn.

Sd/- JUDGE

Sd/- JUDGE

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