M/S KARNATAKA VIKAS GRAMEENA BANK vs. ASST. COMMISSIONER OF INCOME TAX

IN THE HIGH COURT OF KARNATAKA DHARWAD BENCH

DATED THIS THE 12TH DAY OF NOVEMBER, 2021 PRESENT THE HON’BLE MR.JUSTICE S. SUNIL DUTT YADAV AND THE HON’BLE MS.JUSTICE J.M. KHAZI I.T.A.NO.100003/2021

BETWEEN:

M/S KARNATAKA VIKAS GRAMEEN BANK, REP. BY ITS GENERAL MANAGER, CHANDRASHEKAR D. MORO, HEAD OFFICE, H.O. BUILDING, BELAGAUM ROAD, DHARWAD. …..APPELLANT (BY SRI SHASHANK S. HEGDE, ADV.)

AND : ASST. COMMISSIONER OF INCOME TAX CIRCLE 2(1), CENTRAL REVENUE BUILDING, HUBBALLI. …..RESPONDENT

THIS APPEAL IS FILED UNDER SECTION 260-A OF THE INCOME TAX ACT, 1961 PRAYING TO FORMULATE THE SUBSTANTIAL QUESTION OF LAW AS STATED ABOVE AND ANSWER THE SAME IN FAVOUR OF THE APPELLANT AND TO ALLOW THE APPEAL AND SET ASIDE THE FINDINGS TO THE EXTENT AGAINST THE ASSESSEE IN THE COMMON

ORDER PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, BENGALURU C BENCH IN ITA NOS.2054/Bang/2017 FOR THE A.Y. 2014-15 VUDE ANNEXURES-A.

THIS APPEAL COMING ON FOR ORDERS THIS DAY, S.SUNIL DUTT YADAV J., DELIVERED THE FOLLOWING:

JUDGMENT The counsel for the appellant has filed a memo, which reads as follows: 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 in ITA No.2054/Bang/2017 dated 10.09.2020 for the Assessment Year 2014-15. 2. 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. 3. Thereafter, the Principal Commissioner for Income-Tax, Hubli issued Form-3 certificate under sub-section (1) of Section

5 of the Direct Tax Vivad Se Viswas Act, 2020 dated 19.04.2021, after verifying Form-1 and Form-2. Copy of the Form-3 is enclosed herewith for this Hon’ble Court’s reference and records. 4. Wherefore, in view of the above submissions the Appellant humbly prays this Hon’ble Court may be 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. In light of the same, appeal is dismissed as withdrawn.

Sd/- JUDGE

Sd/- JUDGE Naa