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

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