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

ITA/753/2017HC KarnatakaKAHC01041905201705 June 2018Bench: H.T. NARENDRA PRASAD,RAGHVENDRA S.CHAUHAN2 pages

AI SummaryWithdrawn

What did the High Court hold?

The learned counsel for the appellants (Revenue) 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 Consequently, the High Court dismissed the appeal as withdrawn.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. The judgment does not record any specific findings or reasoning on the substantive issues that might have been before the Tribunal or the lower appellate authorities.

What were the facts?

The appeal was filed by the Commissioner of Income-Tax (LTU) and the Assistant Commissioner of Income-Tax (LTU) against M/s. State Bank of Mysore. The assessment year in question is 2006-2007. The appeal arises out of an order dated March 24, 2017, passed by the Income-Tax Appellate Tribunal, Bengaluru, in ITA No. 718/Bang/2015. The appellants sought to set aside the Tribunal's order and confirm the order of the Appellate Commissioner, which in turn had confirmed the order of the Assistant Commissioner of Income Tax.

What were the issues?

The substantial questions of law were to be formulated by the High Court. The appellants sought to set aside the order of the Income-Tax Appellate Tribunal and confirm the order of the Appellate Commissioner, which had confirmed the order of the Assistant Commissioner of Income Tax. The judgment does not record specific arguments made by either the assessee or the revenue, nor does it name any specific provisions of the Income Tax Act, circulars, or precedents relied upon by either party.

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.753/2017

BETWEEN:

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

THE ASST. 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.718/BANG/2015, FOR THE ASSESSMENT YEAR 2006-2007, 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.718/BANG/2015 DATED 24.3.2017 AND CONFIRM THE ORDER OF THE APPELLATE COMMISSIONER

2 CONFIRMING THE ORDER PASSED BY THE ASSISTANT 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.

The appeal is, hereby, dismissed as withdrawn.

Sd/- JUDGE

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