THE PR. COMMISSIONER OF INCOME-TAX vs. M/S. BRIGADE ENTERPRISES LTD.

1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 22ND DAY OF OCTOBER 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD I.T.A. NO.21 OF 2016 BETWEEN: 1. THE PR. COMMISSIONER OF INCOME-TAX

5TH FLOOR, BMTC BUILDING

80 FEET ROAD, KORAMANGALA

BANGALORE-560095. 2. THE DEPUTY COMMISSIONER OF INCOME-TAX

CIRCLE - 11(2), 2ND FLOOR

BMTC BUILDING, 80 FEET ROAD

KORMANGALA, BANGALORE-560095. ... APPELLANTS (BY Mr. K.V. ARAVIND, ADV.,) AND: M/S. BRIGADE ENTERPRISES LTD. 29TH & 30TH FLOOR WORLD TRADE CENTRE BRIGADE GATEWAY CAMPUS 26/1, DR. RAJKUMAR ROAD RAJAJINAGAR, BANGALORE - 560 0055 PAN: AAACB 7459F. ... RESPONDENT (BY Mr. CHYTHANYA K.K., ADV.) - - - THIS ITA IS FILED UNDER SECTION 260-A OF I.T. ACT, 1961 ARISING OUT OF ORDER DATED 08.07.2015 PASSED IN ITA

2 NO.1323/BANG/2014 FOR THE ASSESSMENT YEAR 2010-2011, PRAYING THAT THIS HON’BLE COURT MAY BE PLEASED TO: (I) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED THEREIN. (II) ALLOW THE APPEAL AND SET ASIDE THE ORDER PASSSED BY THE ITAT, BANGALORE IN ITA NO.1323/BANG/2014 DATED 08.07.2015 AND CONFIRM THE ORDER OF THE APPELLATE COMMISSIONER CONFIRMING THE ORDER PASSED BY THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(2), BENGALURU. THIS ITA COMING ON FOR HEARING, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING: JUDGMENT 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. The subject matter of the appeal pertains to the Assessment year 2009-10. The appeal was admitted by a bench of this Court vide order dated 06.04.2015 on the following substantial questions of law: (i) Whether on the facts and in the circumstances of the case, the Tribunal, was justified in disallowing in respect of disallowance under section 14A r.w. Rule 8D(2)(ii) when same was in accordance with parameters of said section?

3 (ii) Whether on the facts and in the circumstances of the case, the Tribunal was justified in dismissing the appeal towards disallowance of interest paid under section 26(1)(iii) of the Act when same was rightly disallowed by assessing authority as the assessee had filed to establish the claim under said provision? (iii) Whether on the facts and in the circumstances of the case, the Tribunal was justified setting aside Assessing Officer's action in restricting the claim of deduction under section 80IB(10) to the extent of Rs.8,88,13,831/- as against Rs.39,04,37,646 claimed by the assessee when the assessing authority has rightly disallowed the claim as per parameters said section? 2. For the reasons assigned by us in the judgment passed today in I.T.A.NO.373/2014, the substantial questions of law framed by this court are answered in favour of the assessee and against the revenue. In the result, we do not find any merit in this

4 appeal, the same fails and is hereby dismissed. Sd/- JUDGE Sd/- JUDGE ss