What did the High Court hold?

The High Court allowed the withdrawal of the appeal for the Assessment Year 2003-04. This was based on the assessee's submission that they had opted for the Direct Tax Vivad Se Vishwas Act, 2020, for settlement of the disputed income for that year.

The assessee filed an appeal under Section 260A of the Income Tax Act against the ITAT's order for Assessment Years 2002-03 to 2004-05. The assessee later filed a memo to withdraw the appeal for the Assessment Year 2003-04.

What were the issues?

The primary issue was whether the appeal could be withdrawn due to the assessee opting for a settlement scheme. The court considered the impact of the Direct Tax Vivad Se Vishwas Act, 2020 on the pending appeal.

M/S Sridevi Dairy Farms (P)… vs DCIT | Karnataka High Court 2021

IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 26TH DAY OF OCTOBER, 2021

PRESENT

THE HON’BLE MRS. JUSTICE S. SUJATHA AND

THE HON’BLE MR. JUSTICE E.S. INDIRESH

I.T.A. NO.158/2012

BETWEEN

M/S SRIDEVI DAIRY FARMS (P) LIMITED REP. BY ITS MANAGING DIRECTOR SRI. D. NARASIMHALU NAIDU @ D.N. NAIDU,NO. 356, 24TH "B" CORSS, 9TH MAIN, II STAGE, BANASHANKARI, BANGALORE - 560070

…APPELLANT

(BY SRI A SHANKAR, SENIOR COUNSEL A/W SRI BHAIRAV KUTTAIAH, ADVOCATE)

AND:

THE DEPUTY COMMISSIONER OF INCOME-TAX CENTRAL CIRCLE -1 (1) C.R. BUILDING, QUEENS ROAD, BANGALORE - 560001.

… RESPONDENT (BY SRI SANMATHI E I., ADVOCATE)

THIS APPEAL IS FILED UNDER SECTION 260A OF THE INCOME-TAX ACT, 1961, ARISING OUT OF ORDER DATED 20.01.2012 PASSED IN ITA NO.1093 TO 1095/BANG/2010 FOR THE ASSESSMENT YEAR 2002-03, 2003-04 AND 2004-05, PRAYING THAT THIS HON’BLE COURT MAY BE PLEASEED TO: (i) FORMULATE THE SUBSTANTIAL QUESTION OF LAW STATED THEREIN. (ii) ALLOW THE APPEAL AND SET ASIDE THE FINDINGS TO THE EXTENT AGAINST THE APPELLANT IN THE ORDER

PASSED BY THE TRIBUNAL IN ITA NO.1093 TO 1095/Bang/2010 DATED 20.01.2012 REFERRED AS ANNEXURE-A.

THIS APPEAL COMING ON FOR HEARING, THIS DAY, S. SUJATHA J., DELIVERED THE FOLLOWING:

JUDGMENT

This appeal is filed by the assessee under Section 260A of the Income Tax Act, 1961 (‘Act’ for short) against the common order of the Income Tax Appellate Tribunal, ‘B’ Bench, Bangalore (for short ‘Tribunal’) in ITA Nos.1093 to 1095/Bang/2010 relating to the Assessment Years 2002-03 to 2004-2005.

Learned counsel for the assessee has filed a memo dated 26.10.2021 for withdrawal of the appeal relating to the assessment year 2003-04. The said memo reads as under: 1. “The above named appellant has filed Income Tax Appeal under Section 260A of the Income Tax Act, 1961, challenging the order passed by the Income Tax Appellate Tribunal, Bangalore Bench for the Assessment Year 2003-04.

The Appellant filed Form-1 and Form-2 for declaration and undertaking for paying taxes on disputed income under the scheme named The

Direct Tax Vivad Se Vishwas Act, 2020 for the Assessment Year 2003-04

Thereafter, the Principal Commissioner of Income Tax, Bengaluru-1 issued Form-3 certificate under sub-section (1) of Section 5 of the Direct Tax Vivad Se Viswas Act, 2020 dated 02.09.2021, after verifying Form-1 and Form-2. Copy of the Form-3 is enclosed herewith for the Hon’ble Court’s reference and records.

Wherefore, in view of the above submissions the Appellant humbly prays this Hon’ble Court may pleased to permit the Appellant to withdraw the above Income Tax Appeal with liberty to revive, in case, if the dispute is not settled under the scheme the Direct Tax Vivad Se Vishwas Act, 2020 in the interest of justice and equity.”

Memo is placed on record. Accordingly, appeal is disposed of as withdrawn in terms of the memo.

Sd/- JUDGE

Sd/- JUDGE SB

M/S SRIDEVI DAIRY FARMS (P) LIMITED vs. THE DEPUTY COMMISSIONER OF INCOME-TAX

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