PCIT vs M/S S N Builders and Developers | Karnataka High Court 2022

1 ITA No.86/2021

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 14TH DAY OF NOVEMBER, 2022 PRESENT THE HON'BLE MR. JUSTICE P.S.DINESH KUMAR AND THE HON'BLE MR. JUSTICE T.G.SHIVASHANKARE GOWDA INCOME TAX APPEAL NO. 86 OF 2021 BETWEEN:

PR. COMMISSIONER OF INCOME TAX-7 BMTC COMPLEX KORAMANGALA BANGALORE

THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4(3)(1) BENGALURU …APPELLANTS

(BY SHRI. E.I. SANMATHI, STANDING COUNSEL)

AND:

M/s S.N.BUILDERS AND DEVELOPERS NO.4, 2ND FLOOR ELEPHANT ROCK ROAD ABOVE KALYAN JEWELERS JAYANAGAR 3RD BLOCK BENGALURU-560 011. PAN-ABEFS8850P …RESPONDENT

(BY SHRI. A. SHANKAR, SENIOR ADVOCATE FOR SHRI. S. ANNAMALAI, ADVOCATE)

THIS INCOME TAX APPEAL UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 27/11/2019 PASSED IN ITA NO.106/BANG/2019, FOR THE ASSESSMENT YEAR 2014-2015 PRAYING TO DECIDE THE FOREGOING QUESTION OF LAW AND/OR SUCH OTHER QUESTIONS OF LAW AS MAY BE FORMULATED BY THE HON'BLE COURT AS DEEMED FIT AND ETC.,

Digitally signed by ANUSHA V Location: High Court Of Karnataka

2 ITA No.86/2021

THIS INCOME TAX APPEAL, COMING ON FOR ADMSSION, THIS DAY, P.S. DINESH KUMAR J., DELIVERED THE FOLLOWING:

JUDGMENT

This appeal is filed by the Revenue challenging the order dated 27th September, 2019 in ITA No.106/Bang/2019 for the Assessment Year 2014-2015.

Heard Shri E.I.Sanmathi, learned Standing Counsel for the Revenue and Shri A.Shankar, learned Senior Advocate for the respondent.

Shri Shankar submits that the first question of law raised by the Revenue is covered against the Revenue by the decision of this Court in The Commissioner of Income Tax and Another Vs. M/s.S.N.Builders & Developers1. The second question of law is also covered against the Revenue in M/s. Toyota Kirloskar Motor (R) Ltd., Vs. The Income Tax Officer2 and The Income Tax Officer Vs. M/s. Toyota Kirloskar Motor (P) Ltd3.

1 ITA No.240/2015 (D.D.07.01.2021) 2 ITA No.245/2018 (D.D.24.03.2021) 3 RP.No.261/2021 (D.D.21.10.2022).

3 ITA No.86/2021

Shri Sanmathi, in his usual fairness, does not dispute the above submission.

Consequently, this appeal does not merit consideration and hence, the following; ORDER

(i) Appeal is dismissed; and

(ii) Questions of law are answered in favour of the assessee and against the Revenue.

No costs.

Sd/- JUDGE

AV List No.: 1 Sl No.: 15

PR COMMISSIONER OF INCOME TAX 7 vs. M/S S N BUILDERS AND DEVELOPERS