M/S SUBHA AND PRABHA BUILDERS PVT. LTD., vs. PRINCIPAL COMMISSIONER OF INCOME TAX

1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 28TH DAY OF JULY, 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE HEMANT CHANDANGOUDAR ITA NO.685 OF 2016 BETWEEN: M/S SUBHA & PRABHA BUILDERS PVT. LTD., FLAT NO.203, R.K.HOYSALA RESIDENCY, 3RD MAIN, 9TH MAIN, 9TH CROSS, HOYSALANAGAR, BENGALURU-16002C PAN NO.AAICS5023J, BY ITS MANAGING DIRECTOR: MR.T.D.RAMAKRISHNA ... APPELLANT (BY SRI KIRAN KUMAR K, ADVOCATE) AND: 1. PRINCIPAL COMMISSIONER OF

INCOME TAX, B-6

BMTC BUILDING, 80 FEET ROAD,

KORAMANGALA,

BENGALURU-95. 2. INCOME TAX OFFICER,

WARD-6(1) (4), BMTC BUILDING,

80 FEET ROAD,

KORAMANGALA,

BENGALURU-95. ... RESPONDENTS

2 (BY SRI T.N.C.SRIDHAR, ADVOCATE) THIS ITA IS FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, PRAYING TO: (a) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED IN THIS MEMORANDUM OF APPEAL.

(b) DELETE THE IMPUGNED ADDITION OF RS. 4,18,000/- AND ETC., THIS ITA COMING ON FOR HEARING, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING: JUDGMENT Mr. Kiran Kumar K., learned counsel for the assessee. Mr.T.N.C. Sridhar, learned counsel for the Revenue. Learned counsel for the assessee submits that the dispute in this appeal has been amicably settled under the provisions of the “Vivad Se Vishwas’ scheme, therefore he seeks leave of this Court to withdraw the appeal with a liberty to revive the same, if occasion so arises.

3 The aforesaid submission is placed on record. In view of the aforesaid submission, the appeal is dismissed as withdrawn with a liberty as prayed for. Sd/- JUDGE Sd/- JUDGE HR