M/S K MOHAN & COMPANY vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

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ITA/417/2015HC KarnatakaKAHC01040786201507 June 2022Bench: P.S.DINESH KUMAR,ANANT RAMANATH HEGDE3 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court granted the appellant's request to withdraw the appeals. Consequently, the appeals were dismissed as withdrawn by the court.

What were the facts?

The appellant, M/s K Mohan & Company (Exports) Pvt. Ltd., filed two Income Tax Appeals before the High Court of Karnataka. These appeals were filed under Section 260-A of the Income Tax Act, 1961.

What were the issues?

The primary issue was the appellant's request to withdraw their pending Income Tax Appeals before the High Court.

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 7TH DAY OF JUNE, 2022 PRESENT THE HON’BLE MR. JUSTICE P.S.DINESH KUMAR AND THE HON’BLE MR. JUSTICE ANANT RAMANATH HEGDE INCOME TAX APPEAL NO.211/2016 C/W INCOME TAX APPEAL NO.417/2015 IN ITA NO.211/2016: BETWEEN: M/S K MOHAN & COMPANY (EXPORTS) PVT. LTD., B1, 62-5, BEGUR ROAD, BOMMANAHALLI, BANGALORE-560 068, REPRESENTED BY DIRECTOR SMT. POOJA RAJU MAHTANEY, AGED ABOUT 59 YEARS, WIFE OF SRI RAJU MOHANDAS MAHTANEY. …APPELLANT (BY SMT.JINITA CHATTERJEE, ADVOCATE FOR SRI S PARTHASARATHI) AND: THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 11(5), 14/3, RASTROTHANA BHAVAN, 5TH FLOOR, NRUPATUNGA ROAD, BANGALORE-560 001. …RESPONDENT (BY SRI K.V.ARAVIND, ADVOCATE)

2 THIS I.T.A IS FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 06/11/2015 PASSED IN M.P.NO.96/BANG/2015 ARISING OUT OF ITA NO.1057/BANG/2012, FOR THE ASSESSMENT YEAR 2008-09 PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW AND TO ALLOW THE APPEAL BY INCLUDING THE PROFIT ON THE CANCELLATION OF FORWARD CONTRACT FOR CONSIDERING ELIGIBILITY FOR DEDUCTION U/S.10B OF THE ACT VIDE TRIBUNAL ORDER DT. 06.11.2015 IN M.P.NO.96/BANG/2015 ARISING OUT OF ITA NO.1057/BANG/2012 FOR ASST YEAR: 2008-09 ANNEXURE-‘A’. IN ITA NO.417/2015: BETWEEN: M/S K MOHAN & COMPANY (EXPORTS) PVT. LTD., B1, 62-5, BEGUR ROAD, BOMMANAHALLI, BANGALORE-560 068, REPRESENTED BY DIRECTOR SRI RAJU M MAHTANEY, AGED ABOUT 65 YEARS, SON OF SRI MOHANDAS KUNDANMAL MAHTANEY. …APPELLANT (BY SMT.JINITA CHATTERJEE, ADVOCATE FOR SRI S PARTHASARATHI) AND: THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 11(5), 14/3, RASTROTHANA BHAVAN, 5TH FLOOR, NRUPATUNGA ROAD, BANGALORE-560 001. …RESPONDENT (BY SRI K.V.ARAVIND, ADVOCATE) ---- THIS I.T.A IS FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 24/04/2015 PASSED IN ITA NOS.1093/BANG/2009 AND 1266/BANG/2010 FOR THE ASSESSMENT YEAR 2006-07 AND 2007-08 (ANNEXURE-A) PRAYING TO FORMULATE THE SUBSTANTIAL

3 QUESTIONS OF LAW AND TO ALLOW THE APPEAL AND SET ASIDE THE COMMON ORDER OF THE ITAT BEARING ITA NOS.1093/BANG/2009 AND 1266/BANG/2010 FOR A.YRS:2006- 07 AND 2007-08 DT: 24/04/2015 (ANNEXURE-A). THESE APPEALS COMING ON FOR ORDERS THIS DAY, P.S. DINESH KUMAR J, DELIVERED THE FOLLOWING:- JUDGMENT Learned advocate for the appellants has filed a memo on 03.06.2022 seeking leave to withdraw these appeals. 2. Leave granted. Appeals are accordingly dismissed as withdrawn.

No costs. Sd/- JUDGE Sd/- JUDGE HD

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