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1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 27TH DAY OF JULY, 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE HEMANT CHANDANGOUDAR ITA NO. 399 OF 2018 BETWEEN: 1. THE PR. COMMISSIONER OF INCOME TAX, CIT(A)
5TH FLOOR, BMTC BUILDING,
80 FEET ROAD, KORAMANGALA,
BENGALURU - 560 095. 2. THE INCOME-TAX OFFICER,
WARD-11(1), PRESENT ADDRESS
WARD-1(1)(2),
2ND FLOOR, BMTC BUILDING,
80 FEET ROAD, KORAMANGALA,
BENGALURU - 560 095. ... APPELLANTS (BY SRI K.V.ARAVIND, ADVOCATE) AND: M/S ATRIA POWER CORPORATION LTD., #1, PALACE ROAD, BENGALURU - 560 001. PAN:AABCA 1880E. ... RESPONDENT (BY SRI SHANKAR SR.COUNSEL FOR SRI ANNAMALAI S, ADVOCATE)
2 THIS ITA IS FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 22.12.2017, VIDE ANNEXURE-C, PASSED IN ITA NO.1394/BANG/2013 FOR THE ASSESSMENT YEAR 2010-2011, PRAYING TO: I. FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED ABOVE. II. ALLOW THE APPEAL AND SET ASIDE THE ORDERS PASSED BY THE INCOME-TAX APPELLATE TRIBUNAL, BENGALURU IN ITA NO. 1394/BANG/2013, DATED 22.12.2017, VIDE ANNEXURE-C, AND CONFIRM THE ORDER OF THE APPELLATE COMMISSIONER CONFIRMING THE ORDER PASSED BY THE INCOME TAX OFFICER, WARD - 1(1)(2), BENGALURU. III. TO PASS SUCH OTHER SUITABLE ORDERS AS THIS HON'BLE COURT DEEMS FIT TO GRANT IN THE FACTS AND CIRCUMSTANCES OF THE CASE IN THE INTEREST OF JUSTICE AND EQUITY. THIS ITA COMING ON FOR ADMISSION, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING: JUDGMENT Mr. K.V. Aravind, learned counsel for the revenue. Mr. A. Shankar, learned senior counsel along with Mr. S.Annamali, learned counsel for the assessee. This appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act for short) has been preferred by the revenue against the order dated 22.12.2017 passed by the Income Tax Appellate Tribunal. The subject matter of the appeal pertains to the Assessment year 2010- 2011. The appeal was admitted by a bench of this Court on
3 the following substantial question of law: "Whether on the facts and circumstances of the case, the Tribunal is right in law in holding that the assessee is governed by the different Acts and Rules and is not required to prepare its profit and loss account and balance sheet as per Part II and III of Schedule VI of the Companies Act, hence the provisions of Section 115JB cannot be invoked in the instant case?"
When the matter was taken up today, the learned senior counsel for the assessee submitted that the aforesaid substantial question of law involved in this appeal has already been answered in favour of the assessee for the previous assessment year namely 2005-2006, by this Court vide judgment dated 16.01.2020 passed in ITA No.18/2014 and other connected appeals. 3. The aforesaid submission could not be disputed by the learned counsel for the revenue.
For the reasons assigned by us in the judgment dated 16.01.2020 passed in ITA No.18/2014 and other connected appeals, the substantial question of law framed in
4 this appeal is answered in favour of the assessee and against the revenue. In the result, appeal filed by the revenue fails and is hereby dismissed. Sd/- JUDGE Sd/- JUDGE HR