M/S AMBIKA BULLION TRADING PVT LTD vs. PRINCIPAL COMMISSIONER OF INCOME TAX

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WP/25336/2023HC KarnatakaKAHC01058260202331 December 2024Bench: SURAJ GOVINDARAJ2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court of Karnataka, while hearing the writ petition, was approached by the learned counsel for the petitioner seeking permission to withdraw the petition. The petitioner requested this liberty with the intention of approaching the respondent authority under the 'Vivad se Vishwas Scheme'. The Court, in its oral order, granted this liberty to the petitioner. Consequently, the writ petition was disposed of, reserving the liberty for the petitioner to pursue the 'Vivad se Vishwas Scheme'. No decision was made on the merits of the challenge to the order passed under Section 154 read with Section 143(3) and the demand notice under Section 156.

What were the facts?

The petitioner, M/s Ambika Bullion Trading Pvt. Ltd., engaged in bullion trading, filed a writ petition before the High Court of Karnataka. The petition challenged an order passed under Section 154 read with Section 143(3) of the Income Tax Act, 1961, dated March 30, 2023, and a notice of demand issued under Section 156 of the Act, both pertaining to Assessment Year 2015-16. These orders were passed by the Income Tax Officer, Ward 1(1)(2), and the Principal Commissioner of Income Tax, Bengaluru-1, respectively. The petitioner sought to quash these impugned orders and notices.

What were the issues?

1. Whether the order passed under Section 154 read with Section 143(3) of the Income Tax Act, 1961, and the subsequent demand notice under Section 156 of the Act for Assessment Year 2015-16 are legally valid and ought to be quashed? (Question of law and fact, concerning Sections 143(3), 154, and 156 of the Income Tax Act, 1961). The petitioner argued for the quashing of the impugned order and notice. The revenue, represented by its counsel, accepted notice. The judgment does not record specific arguments from either side regarding the merits of the case. The petitioner sought permission to withdraw the petition with liberty to approach the respondent under the 'Vivad se Vishwas Scheme'.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 154,Section 156

AI-generated summary — verify with the full judgment below

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NC: 2024:KHC:53357 WP No. 25336 of 2023

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 31ST DAY OF DECEMBER, 2024 BEFORE THE HON'BLE MR JUSTICE SURAJ GOVINDARAJ WRIT PETITION NO. 25336 OF 2023 (T-IT) BETWEEN:

M/S AMBIKA BULLION TRADING PVT., LTD., (COMPANY ENGAGED IN THE BUSINESS OF BULLION TRADING) HAVING ITS REGD. OFFICE AT NO.1, MDP MARKET, BETTAPPA LANE C.T. STREET CROSS, BENGALURU-560002 PAN:AAMCA4555F REPRESENTED BY ITS MANAGING DIRECTOR RAMESH KOTHARI S/O MANIK CHAND.H AGED ABOUT 53 YEARS …PETITIONER (BY SRI. BALRAM R.RAO., ADVOCATE) AND:

1.

PRINCIPAL COMMISSIONER OF INCOME TAX BENGALURU-1, HAVING ITS OFFICE AT BMTC BUILDING, 80 FEET ROAD 6TH BLOCK, KORAMANGALA BENGALURU-560095

2.

INCOME TAX OFFICER WARD 1(1)(2) HAVING ITS OFFICE AT BMTC BUILDING, 80 FEET ROAD 6TH BLOCK, KORAMANGALA BENGALURU-560 095 …RESPONDENTS (BY SRI.TIRUMALESH., ADVOCATE FOR SRI.M.DILIP., ADVOCATE)

Digitally signed by SHWETHA RAGHAVENDRA Location: HIGH COURT OF KARNATAKA

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NC: 2024:KHC:53357 WP No. 25336 of 2023

THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF CONSTITUTION OF INDIA, PRAYING TO ISSUE A WRIT OF CERTIORARI OR A WRIT IN THE NATURE OF CERTIORARI OR ANY OTHER APPROPRIATE WIRT, ORDER OR DIRECTION UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA CALLING FOR THE RECORDS OF THE PETITIONERS CASE AND AFTER EXAMINING THE LEGALITY AND VALIDITY THEREOF BE PLEASED TO QUASH AND SET ASIDE THE IMPUGNED ORDER PASSED UNDER SECTION 154 R.W.S. 143(3) OF THE ACT DATED 30.03.2023 IN DIN & ORDER NO. ITBA/REC/S/154_1/2022-23/1051648913(1) (ANNEXURE-Q) AS WELL AS NOTICE OF DEMAND ISSUED UNDER SECTION 156 OF THE ACT IN DIN AND NOTICE NO.ITBA/REC/S/156.1/2022- 23/1051649496(1) (ANNEXURE-Q1) PASSED BY THE RESPONDENT FOR THE ASSESSMENT YEAR 2015-16 AND ETC.

THIS WRIT PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE SURAJ GOVINDARAJ

ORAL ORDER 1. Sri.Tirumalesh., learned counsel is directed to accept notice for respondents No.1 and 2. 2. Learned counsel for the petitioner seeks permission to withdraw the above petition, with liberty to approach the respondent under the “Vivad se Vishwas Scheme”. 3. Reserving such liberty, the petition stands disposed of. Sd/- (SURAJ GOVINDARAJ) JUDGE SR/List No.: 3 Sl No.: 15

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